Technology

Content That Scales

Joe Shields from Health Accelerators recently did a webinar called “Designing Customer Services That Scale.” In it, he discusses the 9 reasons why his company has moved to services. In this article, we’ll break down and summarize his webinar and explain our own service offerings. 

Shields’ 9 reasons for moving to services are:

  1. Globalization. Brands are becoming more relevant and providing more services to their customers on a broader, global scale.

  2. Patient empowerment. Patients are demanding more services from their healthcare providers, particularly with the more expensive products out there.

  3. Competition. If you’re not innovating, you’d best believe your competition is, and you don’t want to be left behind while your competitors are excelling in both products and the services wrapped around those products.

  4. REMS. Short for risk evaluation and mitigation strategy and required by the FDA, REMS makes sure that pharmaceutical drugs are used safely, patients are not harmed, and physicians are aware of the risks associated with the products.

  5. Unmet needs. Making sure unmet needs haven’t already been satisfied elsewhere by another competitor or government program.

  6. More complex medicines. More complex medicines mean patients need more coaching and handholding. They need more information and services to make sure they’re using the product safely.

  7. Internet/mobile phones. The internet has changed how we access healthcare information and services. We can receive and search this info at a moment’s notice.

  8. Rising consumer expectations. Healthcare and pharmaceutical companies are not just competing with other pharma companies in the service arena; they are competing with top-tier companies like Amazon and Apple who have created very high customer expectations.

  9. The need to innovate. Where new technology and customer trends converge is where innovation lies.

Those are the reasons, Shields says, that services are a differentiator for pharmaceutical products. Another reason is that services really can help solve customers’ problems. Consultancies, UX design, and the marketing agencies within healthcare have created an ecosystem that produces much deeper insights and has uncovered a different kind of need than in the past, when companies just did concept research on a print ad.

The scale of the services, though, is the whole reason for Shields’ webinar. It’s important to scale the need into the project before you begin, because you’ll invest the same amount of effort serving people with a rare disease as you would serving people with a very common ailment like diabetes. Whatever you’re working on is going to be important to patients, and you want to reach as many patients and physicians as possible. Building in scale also gives you some valid research statistics. When you see patient communities that are quite large, you can amortize this functionality and the development costs across a larger base. Frankly, you can reuse content and functionality and transfer a lot of the things that you built, such as registration forms, instead of building them again.

The pharmaceutical industry is optimized to discover, manufacture, market, and sell medicines. There is much more effort, staff, and expertise applied to finding new medicines, but you don’t see that a lot on the digital healthcare marketing side. Shields believes that that’s going to change quickly over time, and that the industry will start to see pharma and medical device companies partner with a lot of digital health startups.

Even though the pharmaceutical industry isn’t really designed to be in the service business, companies are able to figure out through research, social listening, and other techniques what customers want and need. When thinking about the next product rollout, companies need to think about specific conditions and patient types globally, and balance that with personalization on the local level. It’s important to be realistic about what it’s going to take to launch a new pharma product globally and locally, and over the course of many years. Services, if done correctly, can help you differentiate your products. They are a great way to carve out a position that your competitors might not be able to catch up to. Most importantly, services can really help a lot of patients, and help a lot of physicians provide better care. Once you develop a systematic approach, you can be well on your way to doing very big things!

It’s important not to wing it and think the pilot phase will automatically turn your product into something big. You need a plan to make that happen. If you need help on ideating and implementing services to take your product “beyond the pill,” TNA is at YOUR service. Contact us today for a free, no-obligation consultation. Call or text us at 708.334.8414 or email terry@tnugentassociates.com.


TN&A Data Hygiene

Data, along with gold, diamonds, and oil, is now one of the world’s most valuable resources. We are living in the age of the information economy, and now, data is everything. There isn’t anyone who understands this more than marketing and media professionals who rely on targeted advertising to fuel their business.

Targeted advertising drives conversion, and stronger data leads to better marketing tactics. But the data most marketers receive is muddled and unrefined, and needs to be cleaned up in order to be used.

Marketers need data that’s both detailed and easily understandable in order to make informed decisions about their business. That’s where we come in. TN&A’s data cleanse will trim the fat of incomplete, inaccurate, or useless data that messes up otherwise-useful data sets. We also clean, refine, and reformat the data to merge it into a more unified, practical format.

According to a quote from Richard Joyce, a Senior Analyst at Forrester, less than 0.5% of all data collected by companies is analyzed and used. Furthermore, “just a 10% increase in data accessibility will result in more than $65 million additional net income for a typical Fortune 1000 company.” For digital marketers, those numbers seem wild. Data is our diamonds, yet so many companies seem to be leaving their data crude and uncut.

As it is with so many business decisions, the issue comes down to money. Most companies feel that cleaning up and synthesizing their data takes too long and costs too much to substantiate the effort. A study by the CMO Council found that 25% of marketing, commerce, and supply chain executives think that they don’t have the time and/or resources to clean and process all their data, and 51% of marketers said that inaccessible data trapped in individual platforms was a major barrier to getting the most value out of their assets.

Unclean data is normally due to marketers working across incompatible platforms, buying data from different sources, amassing different user IDs—the list goes on.

What about cost? The good news is that data hygiene pays for itself by eliminating wasted marketing dollars and capturing sales that would otherwise be lost due to bad data. TN&A improves the ROI equation by minimizing the denominator. As an independent marketing agency, we’ll shop around to find the best data hygiene value.

TN&A Data Hygiene will clean your data so you can improve your bottom line in two ways:

  • Minimize wasted marketing dollars

  • Maximize results and ROI

Better data leads to better marketing, period. A small investment in data cleansing with TN&A can improve your business’s bottom line. If you have a better picture of your ideal customer, you can understand more clearly the value of each customer relationship and know which marketing tactics deliver the most predictable results and plan accordingly for maximum ROI. When all the elements of an effective marketing data work in harmony, we can turn coal into digital diamonds together.

For a free, no-obligation consultation, call or text us at 708.334.8414 or email terry@tnugentassociates.com.

What is B2B Marketing?  (and what works in 2019?)

(Guest post written by T. Nugent & Associates COO, Katie Cochrane)

Sure, B2B marketing is no new concept, but things aren’t what they used to be — and in order for your campaign to be successful, strategies need to change, because it ‘isn’t as easy’ as it once was.

But why is it more difficult now?

Whelp, it’s called technology, and in turn, it’s called users.  Aka you and me.

Yes, B2B is one business targeting another, but businesses are run by people, and we the people don’t do things the same as we used to.  Just yesterday, I was openly sharing with friends that 50% of the new brand awareness that I experience and the purchases I make from new places is attributable to something marketed to me on Instagram.  Yes, you read that right: I am the quintessential, tech-savvy, educated, online user.

Did you notice that I said new brand awareness?

Because the truth is, a large part of preexisting or classic companies just weren’t/aren’t prepared to deal with the way marketing is today, and, as outlined in the attached article, a 2015 Bain & Company release states that nearly 90 percent of B2B marketing and sales executives do not feel prepared to sell to the digital-savvy customer — the evolved buyer.

So what does this shift mean for B2B marketers?  Adapt in order to survive.

1 - Experimentation

One of the most underrated yet important aspects of marketing is experimentation.  So often companies want a silver bullet, but there just isn’t one.  Remember, businesses are run by people and people are different.  Businesses today need to be willing to try and fail, and then try again.  Experimentation helps you understand what works for your brand and what doesn’t.

2 - Listen up

That’s what MBAs call ‘special listening.’  In order to know the person you are targeting better, you gotta spend time with them.  Follow your ideal customers on social media, subscribe to their emails, and join their Facebook groups. 

3 - Utilize your circle

Co-marketing initiatives by you and a partner attract new business to both brands by amplifying the brands’ reach.  Explore partnerships where you can cross-promote. When a company is featured or advertised in a curated email newsletter that targets a similar audience, the purchase rate is higher than it is for other marketing efforts.

Now more than ever, decision-maker positions of companies are increasingly being filled by late-20-to-30-somethings, and with so many channels to utilize, B2B marketing is only going to become more challenging. 

How are you doing with meeting the challenge?

T. Nugent & Associates knows what works and we can help you reach your target market.

To find out what we can do for you, contact us.


Memo to Jack Dorsey: Trump is TWTR's best friend

Memo to Jack Dorsey: Trump is TWTR's best friend

Silicon Valley is all atwitter (pun intended) about the hard reboot that is the Trump administration. However, one obvious beneficiary seems to have missed the boat: Jack Dorsey.

The Donald used tweets like Zeus used lightning bolts to ascend to the Olympian heights of our republic. All it took was one tweet to initiate a feeding frenzy which earned the Trumpster virtually wall to wall TV coverage without buying a single GRP.