Veeva Pulse Data Shows New Science Calls for More Connected Engagement
Synchronizing sales and marketing improves outcomes, yet 65% of field engagements are not
SINGAPORE, Dec. 5, 2024 /PRNewswire/ -- Veeva Systems (NYSE: VEEV) today released its latest Veeva Pulse Field Trends Report, showing connected sales and marketing engagement helps biopharmas balance healthcare professionals' (HCP) need for deep scientific information on complex medicines as they become more time constrained. Data reveals synchronizing in-person engagements with promotional touchpoints improves education and increases treatment adoption.
While HCPs have expectations that companies provide deeper scientific information and more engagement, they are more time-constrained than ever. Even for biopharmas with access, in-person meetings are down 7% per HCP since last year. Coordinating sales and marketing activities can help offset limited in-person meetings, but the majority (65%) of HCP engagements remain unsynchronized, slowing treatment adoption.
"Physicians have limited time and don't need repetitive information. The transfer must be efficient, with scientifically trusted information through the right channel. Every interaction should inform the next communication," said Dr. Vital Hevia, urologist and robotic surgeon at ROC Clinic and HM Hospitals.
New data from Veeva Pulse shows:
- Disconnected sales and marketing activities don't optimize limited HCP time: Today, 65% of HCP engagements are not synchronized. Amidst decreasing time and attention from HCPs, sales and marketing cannot coordinate effective HCP conversations without a connected view.
- Synchronized in-person and promotional touchpoints improve outcomes: Within 10 days, a rep meeting followed by a digital exposure is 30% more likely to result in a prescription, and HCPs exposed to digital ads after a speaker program are 25% more likely to prescribe. HCPs who also visit a brand website following a rep visit are 60% more likely to prescribe.
- An omnichannel commercial model meets HCP needs: Companies connecting data, systems, and KPIs can drive more effective scientific understanding. This coordination better meets HCPs' need for in-depth information in the face of growing therapeutic complexity.
"In Asia, HCP engagement efforts are still not fully integrated, and challenges remain in aligning sales and marketing functions. It is also a highly diverse region with distinct markets, each presenting unique challenges and opportunities. Leveraging connected tools and advanced data analytics will help biopharmas streamline and enhance their coordination and engagement with HCPs in this complex landscape," said Shafi Hussain, vice president, business consulting lead, APAC, Veeva.
About the Veeva Pulse Field Trends Report
Analyzing over 600 million HCP interactions and activities annually from more than 80% of commercial biopharma field teams worldwide, the Veeva Pulse Field Trends Report is the largest industry benchmark of its kind on HCP engagement. The analysis compiles real-time transactional data recorded in Veeva CRM and Veeva data products to deliver a view of engagement activity across life sciences. Indexed by Veeva quarterly, the data will help companies effectively and accurately benchmark performance to set the right, actionable goals for continued growth and impact.
Additional Information
For more on the Veeva Pulse Field Trends Report, visit: veeva.com/FieldTrends
Learn more about Veeva Business Consulting: veeva.com/BusinessConsulting
Connect with Veeva on LinkedIn: linkedin.com/company/veeva-systems
About Veeva Systems
Veeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world's largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com.
Veeva Forward-Looking Statements
This release contains forward-looking statements regarding Veeva's products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-Q for the period ended July 31, 2024, which you can find here (a summary of risks which may impact our business can be found on pages 36 and 37), and in our subsequent SEC filings, which you can access at sec.gov.
SOURCE Veeva Systems
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