William King's 2018 trends and predictions for the life sciences
2018 will be the year when Life Sciences companies must push toward digital transformation, especially when it comes to data and predictive analytics. William King, founder and executive chairman of Zephyr Health, shared his predictions for the coming year with Pharmaceutical Executive. Here’s a preview of some of the trends and challenges that are top-of-mind:
1. Data is still the belle of the ball: As the amount and complexity of data grows, the next essential step is to effectively link these different datasets to extract meaningful, actionable insights.
2. The customer journey gets “digitized”: Life Sciences companies are now offering value “beyond the pill” to their customers – including services and solutions that create a feedback loop and provide even more data to these companies. The new level of detail obtained in this data allows for even more personalization, but is also much more difficult to manage properly.
3. Predictive Insights become programmatic: It’s now possible to deliver predictive recommendations seamlessly; we see it every day from companies like Google, Facebook, and Amazon. The challenge is integrating these insights holistically within the workflows of Life Sciences sales and marketing teams.
4. Customer relationship networks gain influence: The relationships between people – that is, your customers – can influence their decision-making. Analyzing these networks of influence creates new opportunities for finding high-potential customers and targeting them more effectively, bolstering your return on investment in go-to-market initiatives.
5. Multichannel marketing goes “artificial”: When you have multiple stakeholders, you have to reach them through multiple channels, optimizing your channel mix, investment, and messaging. Maximize your potential for personalization with dynamic, real-time feedback supported by augmented intelligence.
Read the full in-depth article on Pharmaceutical Executive.