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 help boost 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 through this shift.
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. A data partner with an AI engine recommends the most appropriate and effective action for an individual HCP 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 to reach them using the NBA strategy. This way, you can choose the most suitable and personalized marketing tactic at a 1:1 level 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 (used compliantly) are:
- Electronic health records (EHRs)
- Patient histories
- Clinical trials
- Real-time patient data
- Claims data
- Lab results
- First-party publisher data
A 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 across thousands or millions of data points, a Next Best Action engine can recommend the most appropriate action for each HCP targeted.
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 Prescription Lift
Here are five ways NBA can provide higher HCP engagement and 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 needs and preferences. Like any consumer, HCPs are more likely to respond to marketing efforts when they’re personalized.
2. Reduce Costs
The Next Best 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 whether due to specialty or an indication-related trigger. With this data, you can prioritize marketing to them in the right moments to increase engagement and reduce wasted spend.
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
Healthcare providers are already juggling many responsibilities and tasks. If your marketing content prompts them to disrupt their workflow significantly, they’ll be far 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 easily 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 and publisher–whether it’s a journal website or via email from a specific vendor.
5. Continuously Evaluate and Improve Marketing Efforts
To stay ahead, you must closely monitor the effectiveness of your marketing efforts. That means regularly reviewing and refining these recommendations to achieve better outcomes. Doing so gives you insights to boost HCP engagement, ultimately increasing your prescription lift.
To do this, monitor the impact of your marketing content on prescription lift and patient outcomes in real time. Gone are the days of waiting months to a year for a formal script lift study. From there, you can identify what’s working well and what needs improvement. With this information, you can pivot, refine, and tweak your marketing strategy to achieve even better results. You may need to make changes based on the competitive landscape, for example, or based on HCP behaviors as the brand matures.
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 and working closely with your NBA partner, you can ensure that you’re always up-to-date and effective. Human-in-the-loop AI solutions now automate a lot of this analysis work and make optimization far faster than in traditional marketing and media approaches.
Upgrade Your Pharma Marketing with PharmaForceIQ
Rev up your pharma marketing game and watch engagement soars with PharmaForceIQ’s advanced Next Best Action capabilities.
Our platform helps you connect with physicians on their preferred channels with the type of content they are most likely to engage with. But it doesn’t end there. We also help you deliver personalized messages at the right time to maximize engagement within 24-48 hours of them having an eligible patient. Plus, we empower your field force to target eligible HCPs in real-time by seamlessly syncing field and digital touchpoints.
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.
