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How pharma companies can accelerate customer engagement post-pandemic

By Carolina Wosiack, Managing Director EMEA, CI&T

Throughout the 2020s, pharmaceutical companies have been thrust under the spotlight like never before. Fortunately, they’ve largely responded exceptionally, delivering life-saving vaccine treatments at record speeds. As such, they’ve been handsomely rewarded, too. Pfizer recently announced record earnings of $100 billion for 2022, largely driven by the ongoing rollout of its COVID-19 vaccine and the launch of the antiviral pill Paxlovid. However, the company also expects its revenue to decline by as much as a third this year, as demand for these ‘blockbuster’ treatments reaches a plateau.

Now, pharma companies are moving into new markets and working on new drugs to sustain their growth. In February 2023, AstraZeneca CEO Pascal Soriot stated in the company’s annual results announcement: “…we are on track to deliver industry-leading revenue growth through 2025 and beyond, and have set AstraZeneca on a path to deliver at least fifteen new medicines before the end of the decade.”

These companies already know how to research, create, and test innovative new drugs until the formula is perfected for public use. But when it comes to marketing such products, pharma executives tend to be risk averse and obsessed with outputs. With the pandemic largely behind us, how can pharma companies continue to boost revenues and customer engagement? Let’s take a look.

  • Small, agile product teams can identify opportunities the fastest

If pharma businesses want to continuously unlock new revenue streams, they may need to adapt their working models and mindsets. Large, traditional R&D departments are no longer nimble enough for today’s volatile world. Analysis of over 65 million scientific papers, patents, and software products from Harvard Business Review in 2019 uncovered a near-universal conclusion: “whereas large teams tended to develop and further existing ideas and designs, their smaller counterparts tended to disrupt current ways of thinking with new ideas, inventions, and opportunities.”

For leaders to cultivate true innovation, they must set up compact teams that focus on specific customer needs, identify issues, and then work to address them. Here, it’s often useful to build ‘two-pizza’ teams made up of no more than eight people (the name comes from an Amazon maxim—if it takes more than two pizzas to feed a team, the team is too big). These nimbler groups can discover how to solve these problems at pace, and then recommend their ideas for wider production.

A prime example is the team behind the Oxford–AstraZeneca COVID-19 vaccine. The vaccine’s rapid development was led by just six scientists based at Oxford University.  Manufacturing then expanded to facilities across five global continents—and in less than twelve months after its first approval, two billion doses had been supplied to countries around the world. It’s this ability to embrace change and move quickly that will set companies apart throughout future periods of both calm and crisis.

  • Research and testing will optimise omnichannel customer strategies

Modern customers interact and engage with businesses across numerous digital touchpoints—from PCs to smartphones, websites to social media. But it’s crucial to identify and test which channels are best at delivering customer value, as part of their healthcare interactions and experiences, before companies heavily invest in campaigns within them.

Pharma content marketing, such as articles, podcasts, and webinars, is a good way to educate and entertain your audience. However, content that attracts isn’t always content that sells. Businesses must first grasp and understand their customers’ journeys to create truly relevant content. This process can be complex, and numerous experiments will likely be required to uncover the best way forward. So, pharma companies must ask themselves a) what behavioural changes do they want to elicit amongst their customers? And b) how can they positively influence human behaviour that drives business value?

Managers must also consider customer differences across locations and demographics, and tweak strategies accordingly. For instance, 18 to 24-year-olds are more than twice as likely to use social media for health-rated discussions than those between 45 and 54. Targeting the second demographic via Facebook or Instagram ads may not be cost-effective—so businesses must research more practical avenues.

A cultural change may even be necessary. Fewer organisational silos and a greater focus on digital and omnichannel will help forge collective progress, as new research shows the pharma industry is set to spend $4.5 billion on digital transformation by 2030. More attention paid to delivering strong content and smooth experiences, in the right place and at the right time, will ensure your business remains at the forefront of tech, marketing, and the minds of your customers.

  • Data will uncover increasingly important, multi-layered insights

The role of data in the pharma industry is becoming more critical than ever. It helps companies find patterns that enable better, faster decisions, and unlock growth in new areas via a data-driven and data-backed approach. For instance, data can highlight genetic makeup, disease status, demographics and more to help researchers quickly and cost-effectively find appropriate candidates for an urgent clinical trial. As the price of bringing a new drug to market reaches as high as $1.1 billion, cost optimisation via data is key.

Unleashing data from silos and sharing it between stakeholders will also transform business intelligence and value. Insights from field-based teams are crucial for customer experience and digital design too, as they can inform appropriate upgrades and developments. For example, what information do customers require before making a purchase decision? What are the most popular payment methods?

Pharma companies that combine their data with AI technologies will be able to unearth truly impactful insights that accelerate the market delivery of medicines and products. Ultimately, strong customer engagement along with innovative new products is a combination guaranteed to solidify your presence and supercharge your revenues. 

What’s next for pharma?

The pharmaceutical industry performed perhaps its greatest feat yet in safely guiding the world through the worst of the pandemic. Some companies now find themselves as household names, in unprecedented positions of influence. But to remain successful, the sector’s work is only just beginning.

From Blockbuster to Kodak, all too often we’ve seen heavyweights in other industries squander seemingly unassailable leads. So, companies who pivoted to play an important role in tackling COVID-19 mustn’t rest on their laurels, but instead invest and adapt further to solidify their positions. Meanwhile, challenger pharma brands and wider healthcare organisations must work harder than ever to catch up with competitors and position themselves at the forefront of the industry’s future. The sector is evolving as fast as its treatments. Pharma businesses that build smaller research teams, optimise their omnichannel strategies, and accelerate their data analysis will be well positioned to guide us through whatever the world throws at us next.

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Business

When something personal fills an important gap in the market 

by Cécile Mazuet-Eller, founder of NameSwitch

There aren’t many business ideas that go from a personal experience to filling an important gap in the market. However, this is certainly the case for NameSwitch, the UK’s pioneering and only name changing support service launched in 2018. But what inspired its inception and what challenges did it face? Here, Cécile Mazuet-Eller, the founder of the company, in its seventh year, explains.

My entrepreneurial journey is a bit unusual in that it started from my own experience of going through a divorce, which became a pivotal turning point for me not only emotionally, but practically too. I wanted to remove my married name, and I had a visceral reason to do so as I really didn’t want to keep it. Feeling extremely frustrated at still receiving letters and official documents featuring my previous name, I was desperate to change it but like for so many people it became a stop-start, arduous task.

Once I started the process, I realised it was taking up far too much time I didn’t have; being a single mum to two young children and working full-time is no mean feat, so when I embarked on the name changing process I realised it wasn’t going to be easy.  Searching for a solution to help, all I came up with was a service covering the US and Canada, but nothing that worked for the UK, so in the end, I spent a whole year to get everything changed that had to be, which proved long and stressful to say the least.

Nurturing the idea

In the early days I was fortunate enough to be surrounded by positive people who had good contacts, and who saw the viability of my idea. Living in a small community filled with intelligent and well-rounded people, I wasn’t short of encouragement from them and friends, who recognised as well as I did there was a definite gap in the market. Working with a web development team in Serbia which was also recommended, I enlisted additional help from a university student on some research.

I always wanted to run my own business, and there were several reasons why I needed to embark on something new. As the only breadwinner in the house, there were mounting bills while balancing the demands of motherhood and other financial responsibilities. Cash was limited but what little I had was used carefully which I put into the business.

In the early stages, which included the development of the unique technology that underpins the service, I carved pockets of time at night and on weekends to create a strong foundation for the business. Creating something completely from scratch was like a form of healing, which is why it was and remains such a personal project.

Mulling over the idea for at least two years following the original lightbulb moment, the business was registered in 2015, with time needed for building the robust platform in order to  create a viable product. Drawing on my previous experience, I investigated overseas equivalents, financials and marketing intelligence ensuring there was a genuine need for the service in the UK. Fortunately enough I was able to share my plans with my employer at the time, who turned out to be my biggest supporters, becoming my first paying customer who purchased a NameSwitch for his ex-wife, who was getting married to someone else!

With a career in telecommunications and a degree in marketing, I was already used to hard work and having the support and encouragement from my telecoms team was extremely helpful.   

Support and coaching

Coaching was an important element of the start-up process, obtained through a wider network and some financial support from family,  with no other funding or investment being available.

The challenges

Presented with certain obstacles like all businesses are, there was a lot to juggle and at times it felt like too much but I managed to navigate the complexities involved. When Covid hit that was a huge set-back, given that our biggest target market was and still is, newly-weds. With all weddings being banned, it hit NameSwitch hard, but our saving grace were the people who used the time to change their name’s in lockdown, by doing something they previously didn’t have time for. Being 100% employed by the business by this stage, it turned into a year of survival and another big challenge.  

In 2022-2023 we concentrated on growth for NameSwitch, when me and my dedicated team were satisfied with the service, it was time to consider investment into PR, advertising and partnerships to increase brand awareness to reach the revenues that were needed.

In 2022-2024, it was forecast that 285,000 – 415,000 weddings will take place resulting from the pandemic, which has reflected well on the business in recent years. And amidst the trials and tribulations it’s proved to be both exhilarating and exhausting in equal measure.

With hindsight, there are certain things I’d have done differently, such as bringing in a partner early on to put us in a stronger position sooner, and adding more resource  to improve growth, but I know that’s all part of the steep learning curve and something to take with me to projects in the future.

Advice for aspiring entrepreneurs

For anyone contemplating their own entrepreneurial endeavours, I’d recommend to ‘one hundred percent go for it’ – but do not bet the house on it and whatever happens, embrace the journey.

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Business

How relationships with work are changing

by Amrit Sandhar (CEO/ Founder, &Evolve)

Since Chris Argyris’s work in the 1960s into the psychological work contract, the assumption’s remained that it’s based on mutual exchange of beliefs and expectations of what employee and employer can expect from each other, given a contract only works with two parties agreeing to it.

But have we seen a shift in the balance of this contract, where the expectations of employees have really changed? Since the industrial revolution, organisations dictated employees’ working arrangements which focused on driving greater productivity and performance. This reflected the imbalance of power, with employees reliant on their organisations to structure working arrangements to drive the best results.

Employees signed up to this psychological contract, despite it representing an imbalance in favour of the employer. However, the pandemic stressed this equilibrium, which has led to many, reevaluating their relationship with their work.

While the pandemic has had a long-term impact on most, affecting everything from education to mental health, it could also be the cause of an evolution that’s changing people’s relationship with work. While organisations were supported through furlough schemes and government grants, employees took responsibility for keeping businesses going, by changing the way they worked. Employees took an unprecedented situation and found ways of dealing with it and since the first time in many years, employees had and took direct ownership of the success of the organisations they worked for – which changed everything.

We’ve seen a seismic shift in how we think about work since the that time, which goes far beyond submitting requests for flexible working. It shows that we’re at the threshold of realising a more balanced psychological work contract, driven by employees, who have different mutually agreed beliefs and expectations in how employees and employers work together.

Gone are the days when employees are only satisfied with financial reward and a nice manager. Gen Z will soon become the largest generation making up our workforce and while money is important to them (as they’re likely to be poorer than previous generations), many want work to be something that complements their life, and not something that only provides financial reward.

Some have said the generation gap is a myth, and before the pandemic this may have been true. But when a generation has experienced such a paradigm shift it brings a different mindset of beliefs and expectations about how work can and should be carried out.

It’s hard to see how anyone could go back to the previous way of working, which should have always focussed on outputs and outcomes rather than hours worked. Other than manufacturing, where it was easy to measure productivity, organisations have become complacent in measuring output and outcomes, with employees paying the price for this ambiguity.

Organisations utilising employee engagement surveys, listening forums, and employee representative initiatives often launch them with the best of intentions, however, the historical underlying imbalance of power towards employers, has prevented a more equitable relationship from forming, despite these initiatives. The strain some organisations are experiencing with mounting pressure to challenge how work is carried out, whether from expecting remote working to questioning if a four-day week would drive greater productivity, shows the shift taking place to the long-standing equilibrium of the psychological work contract.

Future successful organisations will be those that can attract and retain the best talent, and it’s unlikely that the next generation of employees will be willing to relinquish their courage to challenge how work is done.

Employees will seek a greater understanding of exactly what’s required of their role and expect organisations to clearly define measures, to understand how their value and success will be measured, regardless of when, where, and how they choose to work.

Rather than resisting change organisations should consider how they can shape it, by questioning and finding solutions to measuring outputs and productivity, by looking at how they help employees feel respected and valued, and how they help bring the psychological contract, based on a new set of mutually agreed expectations and beliefs to life.

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Business

How 5G is enhancing communication in critical sectors

Luke Wilkinson, MD, Mobile Tornado

In critical sectors where high-stakes situations are common, effective communication is non-negotiable. Whether it’s first responders dealing with a crisis or a construction team coordinating a complex project, the ability to share information quickly and reliably can mean the difference between success and failure.

Long-distance communication became feasible in the 1950s when wireless network connectivity was first utilised in mobile radio-telephone systems, often using push-to-talk (PTT) technology. As private companies invested in cellular infrastructure, the networks developed and data speeds improved increasingly. Each major leap forward in mobile network capabilities was classed as a different generation and thus 1G, 2G, 3G, 4G, and now 5G were born.

5G is the fifth generation of wireless technology and has been gradually rolled out since 2019 when the first commercial 5G network was launched. Since then, the deployment of 5G infrastructure has been steadily increasing, with more and more countries and regions around the world adopting this cutting-edge technology.

Its rollout has been particularly significant for critical sectors that rely heavily on push-to-talk over cellular (PTToC) solutions. With 5G, PTToC communications can be carried out with higher bandwidth and speed, resulting in clearer and more seamless conversations, helping to mitigate risks in difficult scenarios within critical sectors.

How is 5G benefiting businesses?

According to Statista, by 2030, half of all connections worldwide are predicted to use 5G technology, increasing from one-tenth in 2022. This showcases the rapid pace at which 5G is becoming the standard in global communication infrastructure.

But what does this mean for businesses? Two of the key improvements under 5G are improved bandwidth and download speeds, facilitating faster and more reliable communication within teams. PTToC solutions can harness the capabilities of 5G and bring the benefits to critical sectors that need it most, whether that’s in public safety, security, or logistics: the use cases are infinite. For example, this could be leveraging 5G’s increased bandwidth to enable larger group calls and screen sharing for effective communication.

Communication between workers in critical industries can be difficult, as often the workforces are made up of lone workers or small groups of individuals in remote locations. PTToC is indispensable in these scenarios for producing quick and secure communication, as well as additional features including real-time location information and the ability to send SOS alerts. PTToC with 5G works effectively in critical sectors, as 5G is designed to be compatible with various network conditions, including 2G and 3G. This ensures that communication remains reliable and efficient even in countries or areas where 5G infrastructure is not fully deployed to keep remote, lone workers safe and secure.

The impact of 5G on critical communications

The International Telecommunication Union has reported that 95 percent of the world’s population can access a mobile broadband network. This opens up a world of new possibilities for PTToC, particularly when harnessing new capabilities for 5G as it’s being rolled out.

One of the most significant improvements brought by 5G is within video communications, which most PTToC solutions now offer. Faster speeds, higher bandwidth, and lower latency enhance the stability and quality of video calls, which are crucial in critical sectors. After all, in industries like public safety, construction, and logistics, the importance of visual information for effective decision-making and situational awareness cannot be overstated. 5G enables the real-time transmission of high-quality video, allowing for effective coordination and response strategies, ultimately improving operational outcomes and safety measures.

Challenges in Adopting 5G in Critical Sectors

While the benefits of 5G are undeniable, the industry faces some challenges in its widespread adoption. Network coverage and interoperability are two key concerns that need to be addressed to ensure communication can keep improving in critical sectors.

According to the International Telecommunication Union, older-generation networks are being phased out in many countries to allow for collaborative 5G standards development across industries. Yet, particularly in lower-income countries in Sub-Saharan Africa, Latin America, and Asia-Pacific, there is a need for infrastructure upgrades and investment to support 5G connectivity. The potential barriers to adoption, including device accessibility, the expense of deploying the new networks, and regulatory issues, must be carefully navigated to help countries make the most out of 5G capabilities within critical sectors and beyond.

However, the rollout of 5G does cause data security concerns for mission-critical communications and operations, as mobile networks present an expanded attack surface. Nonetheless, IT professionals, including PTToC developers, have the means to safeguard remote and lone workers and shield corporate and employee data. Encryption, authentication, remote access, and offline functionality are vital attributes that tackle emerging data threats both on devices and during transmission. Deploying this multi-tiered strategy alongside regular updates substantially diminishes the vulnerabilities associated with exploiting 5G mobile networks and devices within critical sectors.

While the challenges faced by the industry must be addressed, the potential benefits of 5G in enhancing communication and collaboration are undeniable. As the rollout of 5G continues to gain momentum, the benefits of this cutting-edge technology in enhancing communication in critical sectors are becoming increasingly evident. The faster, more reliable, and efficient communication enabled by 5G is crucial for industries that rely on real-time information exchange and decision-making.

Looking ahead, the potential for further advancements and increased adoption of 5G in critical sectors is truly exciting. As the industry continues to address the challenges faced, such as network coverage, interoperability, and data security concerns, we can expect to see even greater integration of this technology across a wide range of mission-critical applications for critical sectors.

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