Health and life science companies thoroughly understand the importance of acquisition and analysis of current customer information to further increase brand growth among a certain persona or demographic. A tried and true method, it’s essential to maintain and grow the core customer base-- those that historically are open and responsive--to increase brand adoption and improve adherence. What many companies fail to do is look beyond the likely customer base and assess unlikely customers. These fall into an unexpected profile and hold great potential for organizations.
Typically missing in the search for new customers are those meeting the unexpected profile.
What if, instead of identifying potential customers similar to the existing base, information was analyzed to identify similarities across non-customers? Identifying and understanding the non-customer and finding trends and commonalities will inform campaign strategies to target/address these groups with messages to change behavior and drive action.
How can you identify these target groups? What do you look for? Do you have the information needed?
Information is the key. Not only do you need the right information, it needs to be organized so actionable, hidden insights are revealed. What differentiates success is the ability to identify and execute analysis differently than the current norms. It is simple to determine from a list of healthcare providers (HCPs) those who are not currently driving growth. It is more difficult to determine why they are not driving growth. A comprehensive approach to information management opens the door to these insights.
Information management goes beyond ensuring information is accurate. It also includes the need to understand how different sets of information are related to each other. By applying information relationships, deeper insights can be achieved.
Example 1: HCP and patient demographics can be linked to determine if your marketing strategy is targeting specialties not locally available to patients. Are your competitors successfully dominating a geographical area or subset of HCPs simply because of restrictive targeting and marketing allocation?
Example 2: Relate HCP script volume to local pharmacy stock levels. Are the pharmacies not stocking therapies because HCPs do not prescribe them, or are HCPs not prescribing therapies because area pharmacies do not maintain a stock?
These examples show how data relationships are used to find patterns and/or commonalities to develop specific, innovative marketing targets and tactics that help you find and capture new customers not previously on your radar. By organizing your data, your organization can leverage data mining solutions for pattern identification.
Position your organization for growth through data mining by:
- Understanding ALL information available within your organization related directly or indirectly to existing and potential customers
- Acquiring additional information from external sources that can enhance insights
- Ensuring information is well-organized and related
Identifying non-customers, and more importantly understanding or developing insights as to why they are not yet your customers, is the first step in differentiating your strategy to brand growth and new customer acquisition.