Measure, Master, Move: Harnessing the Power of Stakeholder Engagement & Assessing Impact for Future Success
Authored by Randi Goeckeler
What you’ll learn
Tailored stakeholder engagement is crucial for effective KOL management and avoiding misaligned efforts and missed opportunities
Our comprehensive framework, the Stakeholder Maturity Index (SMI), evaluates and improves stakeholder engagement strategies
The SMI encourages a strategic, data-driven approach to stakeholder engagement, enhancing impact and innovation in patient care and scientific dialogue
Despite understanding the importance of a strategy focused on Key Opinion Leaders (KOLs) and the perils of needing one, our partners consistently ask for a way to measure their strategic engagement efforts.
Why?
Because they want to know what “good” looks like.
Uncovering Unmet Needs
Identifying and connecting with the right KOLs is critical to the overall success of a medical affairs strategy. As strategists focused on stakeholder engagement, we often hear, “Can you give me the top 50 KOLs?” However, going after the same KOLs as your competitors won’t help you meet your goals, spark meaningful scientific conversation, or improve patient care.
Without a plan to manage KOLs, the result could be ineffective resource allocation, misaligned stakeholder engagements against objectives, and missed opportunities for innovative tactics. Clear strategic stakeholder direction is essential to optimizing resources, enhancing trust, ensuring mutually beneficial partnerships, and bringing organizational clarity to your team.
So what does “good” look like? Introducing the Stakeholder Maturity Index
After consistently receiving inquiries from clients asking how they stack up, Klick created a tool that addresses this need with a comprehensive framework, the Stakeholder Maturity Index (SMI). Because limited models are used to evaluate a company’s external stakeholder management, our tool is designed to assess the effectiveness and the quality of those interactions within your organization.
It considers four crucial factors:
Stakeholder Identification
Competitive Landscape
Engagement Planning
Operations Processes
The SMI enables you to pinpoint strengths and areas for improvement to determine strategic priorities. It’s uniquely suited to support the development of a coordinated and deliberate approach to stakeholder engagement.
Powered by a data-driven model, you’ll move beyond transactional engagements to a more strategic approach with additional significant impact. The SMI framework illuminates new areas of stakeholder engagement and supports innovative solutions to solve your identified challenges and further empower your critical drivers of success.
The first step in refining your stakeholder engagement strategy is understanding where you fall on the SMI. Discover where you land on the SMI and unlock your potential.
Author
Randi Goeckeler
VP, Stakeholder Coalitions
A global stakeholder relations strategist with over 25 years of industry experience, Randi is part of Klick’s expanding Policy & Advocacy practice. She has extensive expertise in conceiving, developing, and executing strategic frameworks that enable key external experts, patient advocacy, professional medical societies, payers, and C-Suite executives to deliver impactful outcomes that foster long-term, successful partnerships.
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