Closed Loop Marketing
Katlayst keeps your customers’ needs at the core of everything that you do.
Closed Loop Marketing (CLM) used to be the ‘holy grail’ of marketing, but in the era of digital marketing, there is no reason why companies can’t and shouldn’t undertake CLM. Simply put, CLM means tracking your marketing efforts’ individual contributions to revenue and leveraging that intelligence to refine your marketing mix and approaches over time.
CLM is a critical component of a successful product commercialization strategy in today’s landscape. An obvious opportunity for pharma CLM involves integration between sales and marketing organizations. By employing digital technology such as tablets integrated with a back-end CRM or Sales Force Automation platform, the field force can easily track their interactions with individual physicians, including valuable data on behaviours, preferences, and objections. Once compiled and synthesized, this data can then be fed back to marketing to enable customization and personalization of future promotional activities.
CLM can also work in the opposite direction as well – for example, non-personal promotion data and insights feeding into sales strategies/personal promotion efforts. The learnings gleaned from non-personal promotion -such as most popular content, top sources, keyword queries, downloads, etc. can provide valuable information for the field force when attempting to get ‘in the door’ or keep a physician engaged in conversation. A truly “closed loop” means that this data should ideally flow in both directions to maximize learning opportunities and refinements in both areas.
Katalyst aims to employ the concept of CLM in everything that we do. In this context, we interpret CLM to mean “Customer Centricity”: keeping your customers’ needs at the core of everything that you do.
In the planning stage, we ensure that we have the appropriate analytics infrastructure in place to begin building a single view of the customer. All interactions and touch-points with the customer are tagged to facilitate collection of valuable interaction and preference data over time. As early as possible, outbound communications take into account any data collected on the customer so that the content served up is as relevant as possible. As more interactions (and thus learning opportunities) take place, the level of customization and personalization of communications will increase to maximize relevancy.
How We’re Different
|Goal: Sales data feeds marketing||Goal: Two-way data exchange|
|CLM restricted to certain functions||CLM as a global guiding principle|
|Disparate data sources||Single view of the customer|
|“Point in Time” campaigns||On-going customer relationship|