If you are a leader in a commercial, medical affairs or market research function, you know how important it is to know exactly where your brand is in the market. You know the importance of key performance indicators (also known as KPIs), that go well beyond only script data. You know that performance also include other critical facets such as brand awareness, adoption in established or new treatment algorithms, use of companion diagnostics or recall of key messages.
In addition to knowing how your brand is doing, you also need to know why, and where your brand is going or what its trajectory is. And, on top of that, you need these insights in hand quickly and in an actionable format so that you can act rapidly, decisively and stay ahead in your market.
Here are common challenges that many brands encounter:
- We don’t have product usage and adoption by clinician and specialties
- We don’t know category size by clinician and institution
- We don’t understand patient volume by clinician and their distribution
- We don’t know our market share by clinician and by institution or category
- We don’t get the insights in a way that allows us to act on them in a timely manner
- And… other challenges
In our surveys with life sciences companies regarding brand performance tracking, the following five attributes are often key, unmet needs:
- Speed since time is critical to understanding the brand’s performance and making adjustments as needed
- Continuous measurement that supports rapid decision making
- Precision that uncovers real brand utilization at the clinician and institution levels and provides meaningful market share data
- Insights that go beyond the “what” of ordinary tracking to the “why”
- Reliability that is born out of robust data across geographies and reaches the right KOLs and clinicians
Watch our video about “Insights Driven Tracking” with Orienteer® and learn about our oncology treatment client that tripled their market share over a three year period in a very competitive space with Orienteer’s “Insights Driven Tracking” and the initiatives it informed.