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Axtria's Groundbreaking Study on Customer Engagement in Life Sciences

In a significant release, Axtria Inc., an innovative data analytics company focused on life sciences, has published its newest study on customer engagement planning and execution. This study, based on anonymized data gathered from 16 leading life sciences companies across the U.S. and analyzed over 8,300 field representatives, tackles how organizations are revolutionizing their customer engagement strategies. 

The Shift Towards Data-Driven Engagement

According to Asheesh Sharma, Axtria's Head of Commercial Excellence, the life sciences sector is making strides in shifting towards intelligent, data-driven engagement strategies. This benchmarking study serves as a crucial touchpoint in understanding how commercial teams are recalibrating their strategies to prioritize automation and enhance decision-making processes through tools like dynamic targeting and AI capabilities.

Key Findings from the Study

One of the standout findings of the research is the ongoing maturity of omnichannel engagement strategies. The results show a notable increase, where 20% of companies with omnichannel programs reported having fully scaled engagement platforms as of 2024, a significant increase from 9% in the previous year. This leap is attributed to improved cross-functional collaboration within organizations and the prioritization of automation in various functions to streamline omnichannel execution.

Next Best Action (NBA) Programs: Despite the implementation of NBC programs, trust issues remain. Only 44% of companies indicated that their representatives have faith in the recommendations provided by these systems.

Dynamic Targeting: The study also highlighted an emerging trend with dynamic targeting practices among large pharmaceutical companies. The adoption rate rose from 17% in 2023 to 25% in 2024, with the majority of companies frequently updating their targeting strategies—75% reconvene monthly—reflecting a responsiveness to the evolving market landscape.

Call Planning Efficiency: Field representatives are averaging six healthcare professional (HCP) calls a day, although those in oncology report lower call volumes due to the complexity of their engagements. This suggests that specialized fields may require more time and intricate strategies for effective communication and relationship building.

Segmentation Techniques: While 64% of business units are refreshing customer segments quarterly, the utilization of advanced segmentation methods involving AI and machine learning is still limited, with only 17% adoption amongst the surveyed companies. This finding underscores a potential area of growth for companies looking to innovate their marketing strategies further.

Implications for Industry Practices

Axtria's benchmarking study provides a lens into the crucial shift happening in the life sciences industry about customer engagement. As organizations strive to match the pace of technological advancements, understanding these trends will be essential for commercial operations and brand strategy teams. The findings suggest that leveraging insights effectively can lead to improved outcomes and better customer relationships.

About Axtria

With a commitment to improving patient outcomes through advanced data and analytics, Axtria works closely with numerous top-tier life sciences companies worldwide. Their extensive array of tools includes platforms like Axtria InsightsMAx.ai, which offers various agents and APIs to tackle specific business challenges, and Axtria SalesIQ™, designed to enhance field force optimization. With a robust philosophy rooted in agility and effectiveness, Axtria is positioned as a pillar in the industry, pushing the boundaries of what's possible in data-driven healthcare.

As the life sciences landscape continues to evolve, studies like Axtria's benchmarking research will be vital in guiding firms as they navigate the complexities of engagement in a data-rich environment. This ongoing transformation not only impacts internal practices but ultimately enhances the patient experience, reinforcing the importance of targeted and responsive healthcare solutions.