The Future of Data Strategy: How Brand 360 is Rewriting the Rules in Life Sciences

What to Know:

These days, life sciences companies are all about turning their data into real, actionable insights. But here’s the kicker: despite significant investments, only 4% of brands are actually using customer intelligence effectively, as highlighted by a recent Acxiom study. So, what’s the secret sauce to bridging this gap between collecting data and actually doing something useful with it? Enter the Brand 360 approach—a solution aimed at boosting decision-making and helping brands stand out in the market.

Situation & Challenge

We recently worked with a brand that knows this struggle all too well.

They had all the data and tech you could wish for, but a holistic customer view was like finding a needle in a haystack, and there was no way to track the end-to-end customer experience across channels. It wasn’t just about owning data, it was about truly understanding the brand’s role across the complex landscape of healthcare. Our journey to crafting a Brand 360 strategy was all about getting insights that weren’t just driven by data but were custom fit for the brand’s unique needs and the environment they operate in.

Here’s how we helped the brand navigate a path to success:

Total Healthcare Context: We dove deep, helping them see the full picture of the healthcare ecosystem. This meant understanding the business, clinical, science, economic, and operational aspects all as part of a bigger whole.

Key Business Questions & Data Strategy: This was a collaborative effort. We worked with the brand to identify their crucial data needs and business queries, developing a strategy that not only focuses on their objectives but also uncovers the big ideas and insights often overlooked due to the divisions of focus and labor.

Discover, Provision, Tailor: Our job was to make sure the brand’s needs were translated into clear tasks for IT, analytics, and data teams. This way, it was easier to harness resources from across the company.

Custom Brand Cockpit: We went beyond basic dashboards and created an AI-powered cockpit designed just for the brand’s decision-making needs. This made complex data easy to handle and act on, tailored to how marketers work.

AI Intelligence Spine: We took the brand’s existing tech and integrated it with our Brand 360 framework and GenAI modules, in order to make insights actionable in real time. This transformed insights into targeted action that focused on the brand’s KPIs for enhanced experiences, reduced costs, and boosted revenue.

Here’s what those modules looked like:

Results

The impact of our Brand 360 solution was remarkable, delivering results beyond client expectations:

Touchpoint Efficiency: reduced the number of necessary touchpoints by 50%, making communication more streamlined without negatively impacting TRX or revenue

Strategic Resource Allocation: identified and reallocated resources, significantly cutting down on waste and reallocating investments to high-impact alternatives.

Prescription Conversion to Revenue: decreased prescription fulfillment drop-offs by addressing and preemptively solving access and approval issues

Media and Segmentation Strategy: refined media strategies and micro-segmentation, enhancing customer experience and boosting transaction rates

Conclusion

While plenty of pharma companies have the tech and data groundwork laid out, unleashing its true power calls for the strategic, hands-on approach that Brand 360 brings to the table. This isn’t just about mastering data, it’s about deeply understanding the healthcare landscape to unlock the full potential of brand data.

Curious to see how the Brand 360 solution can transform your brand’s data strategy? Reach out and let’s discuss a data-driven approach that puts your business in the industry spotlight.