Exploring Engagement Strategies in Life Sciences: Axtria's Insights
Axtria Unveils Insights on Customer Engagement in Life Sciences
Study reveals increased automation, trust in NBA programs, and growing adoption of dynamic targeting among leading U.S. life sciences organizations
Axtria Inc., an AI-first data analytics innovator transforming life sciences, has recently released the findings of its new Customer Engagement Planning and Execution Benchmarking Study. This study, which draws on anonymized data from 16 top U.S. life sciences companies and over 8,300 field representatives, provides a detailed look at how customer engagement strategies are evolving.
According to Asheesh Sharma, Head of Commercial Excellence at Axtria, "Life sciences companies are clearly accelerating their shift toward intelligent, data-driven engagement. This study offers a valuable pulse on how commercial organizations are rethinking execution strategies by embracing automation, boosting trust in AI recommendations, and progressively adopting dynamic approaches to targeting and planning."
Key Findings of the Benchmarking Study
The study highlights several key areas that are shaping the landscape of customer engagement within life sciences:
- Omnichannel Engagement Maturity: A significant increase in the adoption of omnichannel engagement platforms has been noted. In the current year, 20% of companies now report having fully scaled engagement systems, which is more than double compared to the previous year. This growth is credited to enhanced collaboration across functions and a shift towards prioritizing automation; 80% of surveyed companies emphasized the necessity of automation in driving successful omnichannel execution.
- Next Best Action Confidence: Despite advancements in NBA programs, only 44% of companies report that their representatives trust the recommendations provided by these systems.
- Adoption of Dynamic Targeting: Dynamic targeting is gaining traction, as evidenced by a rise from 17% to 25% among major pharmaceutical companies. Notably, 75% of these companies refresh their targeting strategies on a monthly basis to stay attuned to market changes.
- Call Planning Trends: Representatives are typically making an average of six healthcare provider calls per day. Interestingly, oncology reps are reporting the lowest call volumes, a reflection of the unique challenges associated with their specialized engagements.
- Segmentation Practices: 64% of businesses are updating their customer segments on a quarterly basis. However, the implementation of advanced segmentation methodologies utilizing AI and machine learning is still limited, observed in only 17% of organizations.
These insights from Axtria's benchmarking study serve as a crucial resource for commercial operations and brand strategy teams aiming to align with industry best practices in omnichannel execution, segmentation, and enabling field representatives.
Innovative Solutions from Axtria
Axtria collaborates with 16 of the leading 20 life sciences companies globally, providing robust cloud-based solutions that drive digital transformation. Their capabilities include one of the world's most comprehensive cloud-based pharmaceutical management software platforms designed to meet the unique challenges of the healthcare industry. Axtria's team of experts leverage their extensive domain experience to guide pharmaceutical companies through all phases of their product lifecycle, from launch through retirement.
Among Axtria’s innovative offerings are:
- Axtria InsightsMAx.ai: This agentic platform features over 30 agents, applications, and APIs, fostering an environment for experimentation conducive to solving specific business challenges.
- Axtria SalesIQ™: This tool aids in optimizing field force efficiency and provider engagement.
- Axtria CustomerIQ™: Utilizing AI, this solution enhances next-best-action recommendations across various channels.
- Axtria MarketingIQ™: This software turns investment analyses into effective strategies for maximizing market impact.
- Axtria DataMAx™: Serving as a data management framework, it integrates advanced security features, ensuring comprehensive protection of sensitive data.
About Axtria
Axtria stands out as a leading global provider of award-winning cloud software and analytics specifically designed for the life sciences sector. Their mission is to enhance patient outcomes by ensuring that the right therapies reach patients at the right time. Committed to generating superior returns on investment for pharmaceutical, medical device, and diagnostics companies, Axtria's solutions span the journey from data acquisition to actionable insights. Moreover, as a participant in the United Nations Global Compact, Axtria endeavors to align its operations with universal principles, thereby supporting efforts in human rights, labor standards, environmental care, and anti-corruption initiatives.
Frequently Asked Questions
What is the focus of Axtria's new study?
Axtria's study focuses on customer engagement strategies in life sciences, particularly the use of automation and dynamic targeting.
How many companies participated in the Axtria study?
The study analyzed data from 16 leading U.S. life sciences companies.
What notable change is observed in omnichannel engagement?
The study reveals an increase in fully scaled omnichannel programs, rising from 9% to 20% compared to last year.
What is Next Best Action (NBA)?
NBA refers to recommendations provided to representatives on the best actions to take with clients, aimed at enhancing engagement efficiency.
How does Axtria contribute to the life sciences industry?
Axtria assists life sciences companies in leveraging data science and software to improve patient outcomes and drive digital transformations.
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