With HCPs getting too many ads from pharmaceutical companies and a constantly changing pharma marketing landscape, you need a way to stand out, especially during a new drug launch. Thankfully, a data-driven solution like the Next Best Action (NBA) strategy can optimize your marketing strategies and provide a prescription lift.
It’s no longer news that pharma marketing is going digital and embracing a non-personal promotion (NPP) approach. In this post, we will explore five ways your pharmaceutical company can use NBA to increase prescription lift and stay ahead of the competition.
What Is Next Best Action (NBA) Strategy?
Next Best Action (NBA) strategy is a data-driven approach that aims to optimize decision-making in pharma marketing. The AI engine recommends the most appropriate and effective action based on past interactions at different touchpoints. NBA is also known as “Best Next Action”, “Next Best Activity”, or “Recommended Action”.
You can predict the best content for your targets or the best marketing channel using the NBA strategy. This way, you can choose the most suitable and personalized marketing strategy to drive results.
How Next Best Action Works in Pharma Marketing
NBA strategy works by analyzing vast amounts of data from various sources. Although many industries have adopted the next best action approach, their data sources differ. For the pharmaceutical industry, examples of data sources are:
- Electronic health records (EHRs)
- Patient histories
- Clinical trials
- Real-time patient data
The Next Best Action engine can identify patterns and insights where traditional methods will struggle. This is possible because it uses advanced analytics and machine learning algorithms. Based on this analysis, a Best Next Action engine can recommend the most appropriate action for each HCP target.
By tailoring marketing content to each HCP with insights from NBA, you can improve your prescription lift and stay ahead of the competition. However, you’ll need to invest in advanced data analytics tools and technologies to implement the NBA strategy.
5 Ways Next Best Action Can Increase Your Prescription Lift
Here are five ways NBA can provide a prescription lift for your brand.
1. Personalize Marketing Content
The NBA strategy uses data analytics and machine learning to identify the best course of action for each HCP target. This enables you to create personalized marketing content for each HCP’s unique situation. HCPs are more likely to respond to your marketing efforts when they’re personalized for them.
2. Reduce Costs
The Best Next Action strategy can help you optimize your marketing and promotional efforts. This reduces unnecessary spending and increases your marketing ROI.
Using the Next Best Action strategy, you can identify HCPs likely to prescribe your products to their patients. With this data, you can prioritize marketing to them and be sure of increasing your prescription rate.
3. Segment Your HCP Target List With NBA Recommendations
Segmenting your target list based on your Next Best Action recommendations will help you to deliver tailored messaging and personalize major touchpoints for your HCPs. It also increases the chances that the recommendations will resonate with each HCP target and improve engagement.
By targeting your HCPs based on NBA, you can increase the likelihood of conversion and prescription lift.
4. Integrate Next Best Actions With HCP Workflows
You need to consider that healthcare providers are already juggling many responsibilities and tasks. If your marketing content prompts them to disrupt their workflow significantly, they’ll be less likely to act on it. That’s why integration is critical.
By providing information and recommendations within their existing tools and systems, you can ensure that healthcare providers can engage with your content.
To make your next best action count, you must also implement the recommendations via channels that integrate seamlessly into your target healthcare providers’ workflows. This way, they can act on the recommendations without changing their routine.
Thankfully, Next Best Action can give you insights on your target’s preferred channel – whether it’s a journal or via email.
5. Continuously Evaluate and Improve Marketing Efforts
To stay ahead in the game, you must closely monitor the effectiveness of your marketing efforts. That means regularly reviewing and refining these recommendations using data and analytics to achieve better outcomes. Doing so gives you insights to boost HCP engagement, ultimately increasing your prescription lifts.
To do this, monitor the impact of your marketing content on the prescription lift and patient outcomes. From there, you can identify what’s working well and what needs improvement. With this information, you can refine and tweak your marketing strategy to achieve even better results.
Continuous evaluation and refinement are key here. After all, the healthcare landscape is constantly changing, and what worked yesterday may not work tomorrow. By staying on top of things, you can ensure that you’re always up-to-date and effective.
Upgrade Your Pharma Marketing with PharmaForceIQ
Rev up your pharma marketing game and watch your prescription soar with PharmaForceIQ’s advanced Next Best Action capabilities.
Our platform helps you connect with physicians on their preferred channels. But it doesn’t end there. We also help you deliver personalized messages at the right time to maximize engagement. Plus, we empower your field force to target eligible HCPs in real-time.
Want to unlock the full potential of your marketing ROI? Request a demo today and discover how PharmaForceIQ can help you increase your prescription lift with Next Best Action.
