Radically Customer-centric Marketing

Radically Customer-centric Marketing November 2008 (Presentation abstract) PARTNERS+simons Background Brand communications company in the outcomes b...
Author: Conrad Mills
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Radically Customer-centric Marketing November 2008 (Presentation abstract)

PARTNERS+simons Background Brand communications company in the outcomes business Brand strategy, contact planning, interactive, demand generation, creative and measurement as core competencies Boston-based, 70 senior-level employees, $170,000,000 annual billings

Blend deep audience understandings with channel insights, technology and relentless measurement to help companies acquire, convert, retain, grow loyal customers Common client denominator is quantification of outcomes Data generated through any available means, by any capable source

Work exclusively in broader health, technology and financial services

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PARTNERS+simons Serving clients throughout the health economy

Patient Health AdvocacyPlans Biotech Groups Health Hospitals and Systems Patient Advocacy Groups

Drug Discovery Companies

Biotech Companies

Health Insurance Plans

Medical Device/ Technology Companies

Pharmacies

Hospitals and Health Systems

Pharmaceutical Companies

Diagnostics

Diagnostic Companies

Health Informatics

Medical Supply Providers

-B -D -D -H -H -H -H

Physician Practices

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PARTNERS+simons Our Clients

Smart rttPo Power 4

PARTNERS+simons Situation Analysis Increasing global competition Pricing Pressures Managed Care Provider Contracts Government Contracts Competition

R&D Slowing Development trends such as miniaturization Tighter manufacturing tolerances affecting design, cost & timelines Capital availability decreasing

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PARTNERS+simons Situation Analysis Regulatory constraints Long FDA approval times State regulations on ethics and compliance requiring operational changes, even capital outlays

Increasingly restricted access to decision makers Healthcare professionals Centralized purchasing departments

Customers demand more for less MedTech CEOs/CFOs demand more with less

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Challenges in Reaching Decision Makers

PARTNERS+simons Universal Trends Media Fragmentation

Communication plans become more complex

Rise of Social Networks

Power shifts from companies to individuals

Buyers in Control

Brand Managers become Brand Aggregators

Choice

Buyers expect personalized/ customized offers

Increased Accountability

Improved marketing resource allocation is required 8

PARTNERS+simons Increasingly Complex Communications Landscape 1980s

1960s • • • • • • • • •

Newspapers Magazines Broadcast TV Broadcast Radio Telephone Direct Mail Sales Reps Out-of-Home Eight Track Tapes

• • • • • • • • • • • • • •

Newspapers Magazines Broadcast TV Cable TV VCR Broadcast Radio Walkman Telephone Fax Machines Direct Mail Sales Reps Out-of-Home Personal Computer PC Video Games

2000s • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •

Newspapers Magazines Broadcast TV Cable TV Satellite TV DVD Player DVR Slingbox Online Video Broadcast Radio Satellite Radio Compact Discs MP3 Player Podcasts Telephone Mobile Phones Mobile Web Text Messaging Fax Machines Direct Mail Email Sales Reps Out-of-Home Personal Computer PC Video Games Console Video Games MMORP Games Internet Blogs Instant Messaging Social Networks

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PARTNERS+simons Media Fragmentation What media do business decision makers (B2B Buyers) use to do their jobs? Which do they say are most effective at informing or validating purchase decisions?

Email or e-newsletters

76%

Industry-specific business magazines

69% 67%

Peer advice, word of mouth

66%

Vendors’ Web sites Industry-specific conferences

65%

Industry-specific trade shows

62%

Web portals (e.g., Google)

55%

Industry-specific magazine Web sites

55%

Newspapers

45%

45%

51% 40%

Specialized biz sites (e.g. IT Toolbox) Online Video or RIAs

40%

Online communities/social nets

35%

TV

34%

Mobile/wireless devices

34%

B2B Blogs

31%

Source: “The Digital Transformation” by Laura Ramos, Forrester Research, October 2007

44%

45%

General business magazine sites

Podcasts

48%

54%

Direct mail

RSS Feeds

48%

52%

Web-based events

Outdoor

40%

57%

General business magazines

Radio

40%

27% 21% 20% 19%

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PARTNERS+simons Media Fragmentation Which are the most common ways you learn about vendors and their products and services? 62%

Catalogs mailed to my lab Scientific meetings

58%

Peer advice, word of mouth

58%

Direct mail

48%

Email

42%

Vendor websites

38%

Sales reps

31%

Vendor “mini shows” at my institution

29%

Vendor technical newsletters

25%

Information portals

20%

Print ads

15%

Vendor-sponsored workshops Online banner ads Telesales

Traditional channels are still highly influential

13% 5%

68% of scientists spend up to 2 hours/week looking for product info online

Word of mouth is big - this target is wary of unfamiliar products which elevate their perception of risk

3%

Source: “Marketing to Life Scientists” BioInformatics, LLC March 2006

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PARTNERS+simons B2B buyers adopt emerging media faster than B2B marketers BDMs:

Source: “The Digital Transformation” by Laura Ramos, Forrester Research, October 2007 *”Harnessing the Power of New Media Platforms” by Guideline for BtoB Magazine & ANA, August 2007

B2B Marketers’ Usage* 2007

2009

20%

34%

36%

52%

24%

37%

21%*

N/A

14%*

N/A

29%

47%

24%

37%

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PARTNERS+simons Emerging media adoption continues to grow 99% 95% 66% 52% 33%

of physicians surveyed use the Internet, use search engines to find medical information access blogs, webcasts, streaming video and podcasts use PDAs, smart phones or other mobile computing devices of online physicians use blogs, professional networks, forums, and message boards to connect with other physicians 22% use the Internet during patient consultations 45K US physicians regularly get live video details from sales reps (and 300K more have expressed interest)

Sources: Manhattan Research, Jupiter Research 13

PARTNERS+simons Social Networks

Physicians

Physicians & Nurse Practitioners

Research Scientists

Clinicians

Scientists

Physicians 14

PARTNERS+simons Groups

697

28,383

1,226

374

3,193

4,159

773

1,162

6,960

8,194

2,067

178 15

PARTNERS+simons Virtual Worlds & Trade Shows, Online Video & Tours

Cardio Live IBM Healthcare Island

Agilent Metabolomics Lab 16

PARTNERS+simons Virtual Worlds & Trade Shows, Online Video & Tours

RocheExchange.com PfizerPro.com

MerckServices.com 17

PARTNERS+simons Branded HCP Portals

massbio.org

massmedic.com

thehcma.org

lifescienceexec.com

devicelink.com

biocompare.com 18

PARTNERS+simons Varied Audiences How do you find the right communications mix? Nurses Pharma/Biotech Employees Lab Directors Purchasing Agents IS Manager Medical Center

CRO

Lab Technicians Group/Private Practice

Partners

Medical Technologists Commercial Testing Lab Consumers Investors

Government Staff Scientists

Academia Pharmacists QA/QC

Media

Physicians

Principal Investigators

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Radically Customer-centric Marketing

PARTNERS+simons High-level view of radically customer centric marketing Customers Behavioral Data

Modeling/Analysis

Personas

Strategic Analysis

Geo-demographicData Psychogr aphic/Attitudinal Data

Tactical Analysis

Media Consumption Data

Targeting Universe

Results 4,032 47%

1,454 17%

2,144

613

25%

7%

306 4%

% of sales goal reached Current month

Tactical Implementation ! Media planning/selection ! List selection/scoring ! Events planning ! Sponsorships ! Channel ! Messaging ! Timing

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PARTNERS+simons Introducing: Personas A model based on primary research into users’ goals, attitudes, and behaviors… …used to guide the design of products, channels, and messaging… which describes key user attributes, goals, and behaviors in the form of a vivid, narrative description of a single person representing a behavioral segment. – Forrester Research

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PARTNERS+simons Persona research “A persona that isn’t based on primary user research is like a sociopath: charming, convincing, and dangerously misleading.” – Harley Manning, Forrester Research

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PARTNERS+simons The key insight questions Who are your customers? What have they bought from you? Why have they bought from you? What are they seeking in a solution/partner? Where do they seek information about solutions and partners? What do they do? What is their role in the purchase process?

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PARTNERS+simons Persona example Tyler Nichols, MD GYN/ONC 45 years old Married, with 2 teenagers $350K HHI

“I wake each morning focused on extending the lives of my patients, improving their quality of life, and making my staff and hospital the best available.”

Personal Profile Outgoing, but also serious, competitive, and impatient, Tyler likes to be leader of the pack. He believes in himself and in what he does. He is the go-to guy, the man they come to when no one else dares to operate. He’s sharp, quick-witted and likes being successful. Tyler cannot remember a time when he wasn’t interested in science and medicine. He was a resident at the University of Vermont and trained at Sloan-Kettering Cancer Center in gynecologic oncology. He currently performs 8 surgeries per week, serves on two hospital committees, and speaks at medical meetings - particularly on the topic of advancing minimally invasive surgery. He loves knowing how things work, and affecting how things work - especially in the human body. With a voracious appetite for information, Tyler spends a fair amount of time reading journals and medical web sites, as well as attending educational events and symposia, to stay abreast of the latest topics and advancements in his field. He prefers a hands-on approach to new products; there must be a clear benefit and ease of use relative to cost before he’ll adopt them. In his very limited free time, Tyler enjoys active vacations with his family, including skiing, running, mountain climbing, and geocaching. Work hard. Play hard.

Compelling Needs Assessmentnarrative, sounds on best practices, protocols, like a latest realinformation person – is a real person. • Wants techniques, cost savings • Demands evidence-based materials - straight-forward, Calls key attributes, including factualout info - not marketing speak! motivations and goals. • Patient education materials

Channel Habits

Enables design decisions by focusing • Internet power-user; online 15+ hours/week on •what Email would be useful/usable. • Medical, Sports, Travel web sites • Professional Looks like acommunities professionally produced Relies on smart phone for quick access to PDR an • deliverable…and therefore Moderate journal consumption • important symposia • Frequent conference, element of the design process. • OOH & radio exposure while commuting in from suburbs • Minimal TV 25

Measurement Tools

PARTNERS+simons Radically Customer Centric Marketing: Recap Marketplace chatter and competition continue to grow which necessitates the need to start with customer insights Upfront spend to develop Personas can save money downstream with more impactful messaging and positioning as well as tactics More impactful messaging and positioning will give relevancy to your brand and help drive sales Traditional marketing and sales tactics/sacred cows may no longer be needed when you look at your customer’s Persona E.g. If Tyler is spending most of his time online, then direct mail might be a waste of time

New tactics and new media are needed to reach the ever evolving customer in an ever evolving marketplace And, fiscal and marketing and sales responsibility demand the need for rigorous measurement and ongoing optimization for all programs and campaigns 27

Thank You Contact: Jesse Strawbridge Director of Prospect Development [email protected] 617-330-9393