Optimizing Key Opinion Leader Relationship Management for Success in the Pharmaceutical Sector

CHAPEL HILL, N.C., Dec. 9, 2011 /PRNewswire/ -- Thought leaders play a critical role throughout the development cycle of new pharmaceutical products. In the pre-clinical stage, they serve as technical experts, in Phase I, II and III they are the clinical trial leaders and from pre-launch through patent expiry they are peer influencers.

Clearly, success in the pharmaceutical sector is linked to an organization's ability to build, maintain and manage relationships with Key Opinion Leaders (KOL). Consequently, KOL relationship management has emerged as its own business discipline, a necessary and challenging component of brand promotion.

A study from Best Practices, LLC, Optimizing Key Opinion Leader Relationships: Best Practices in KOL Management, examines how leading pharmaceutical companies approach KOL management. This report identifies the organizational structures, management strategies and tactics, and critical success factors associated with KOL management excellence. Pharmaceutical executives can use this benchmarking research to learn best practices in KOL management and discover how they can maximize KOL relationships to benefit their own products and therapies.

For instance, data from an online survey and executive interviews revealed that organizations need to develop reliable, strategic profiling and recruitment mechanisms that:

• Distinguish between true influence and credentials
• Segment KOLs by the traits required for a company's needs and strategy
• Seek opportunities to identify the next generation of KOLs
• Use new tools and vendors to improve efficiency

Key topics in this report include:

• KOL Segmentation and Behavior Drivers
• KOL Roles Over Product Lifecycle
• KOL Management Models
• Role of Medical Science Liaisons (MSLs) in Managing KOLs
• Emerging Trends and Innovative Practices in KOL Management
• Critical Success Factors in KOL Management
• Most Difficult Challenges in KOL Management

This 43-page study is based on research and information provided by 59 pharmaceutical and medical device executives from 42 companies.

To access the full report or to download a complimentary summary containing insights found in this report, click on the following link: http://www3.best-in-class.com/rr1137.htm.

ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. For more information about Best Practices, LLC visit our Web site at www.best-in-class.com.

SOURCE Best Practices, LLC