We are today announcing the launch of Monocl for CRM. This is a significant release for Monocl as it marks the first time our content and insights are provided within a CRM platform.
Countless interactions and discussions with executives in medical affairs, field medical, sales, marketing and other related functions in the pharmaceutical industry has truly helped shape the design, features and content of this product. We hope you like the end result.
Strengthen & expand your professional relationships
Among the most consistent feedback we have received from field-based teams is the need and desire to spend more time on driving engagement with customers instead of spending time searching for information and inputting data in a CRM. This is the very foundation for Monocl for CRM. We want to help you spend much more time interacting with your different customers, regardless if they are opinion leaders or physicians at hospitals, rising stars at clinics or subject matter experts at universities. By doing so, we truly believe you will be able to form stronger professional relationships and secure a significant long-term advantage against your competitors. By providing you with insights into millions of collaboration networks, we also want to help you systematically expand your professional network over time.
This blog walks you through several use cases to demonstrate how you can apply Monocl for CRM to systematically engage and manage the relationship with your key customers. In support of this blog we have added a Monocl for CRM webpage to our site to keep you updated on improvements we make over time.
Profile highlights designed to optimize planning and outreach
The meeting with one of your key customers, a prominent therapeutic opinion leader, is scheduled for tomorrow. Apart from discussing the usual aspects around your product, you would like to prepare additional talking points for this meeting by researching the recent relevant activities since you last spoke. What new research has she performed and with whom? Any new papers, clinical trials or grants of interest? Maybe she has planned to speak at a medical conference that you are not aware of?
Some of this information is not necessarily hard to find. You could check out the institution’s webpage, make a few publication searches, browse through a number of the most high-profile meetings in her specialty area, search for a couple of key guidelines, catch up on her recent investigator activities in a few sources and do a general Google search. The issue is that:
- You do not know what information is relevant until the moment you see it.
- You cannot systematically go through thousands of websites and databases in a reasonable time frame for each of your customers.
- If she has a common name you’ll need to handle the name disambiguation issue. Name disambiguation can occur when an author has used different name variations and when there are multiple other authors with the same name.
Monocl for CRM helps you with all of the above – and more – by providing all of the insights from Monocl directly on your person accounts. This not only saves you hours of time, but most importantly you can focus all of your attention to preparing the meeting and your approach. We have designed a Profile overview so that you may digest the latest, most relevant information in less than one minute. If you wish to learn more, there are additional tabs to drill through. Should you want to go even deeper, you can always access the full profile in Monocl with a single click.
Evaluate customer collaborators to further expand your network
Staying on top of who works closely with your customer not only helps you know more about him or her, but also allows you to expand your network. You can, and probably should, connect with new experts whom are working closely with your customer already. You should also know if these collaborators already are a part of your CRM or if they are new to your company. If they are new, you can simply add them as a new account in your Veeva CRM with a single click.
While gathering high-level information on individual research activities is manageable but time consuming, generating collaborator information is a different beast. Identifying an expert’s collaborative network requires looking at their entire history of all research activities as well as other activities (co-authorships at publications, investigator relations on trials, co-funding schemes at grants and industry payments, speaking engagements, joint advisory board and much more). Is the J. Smith who shows up as a co-author on three papers always the same J. Smith or are we dealing with John, Jane and Jennifer Smith? Is Y. Zhu, Yian Zhu at the same institution or Yun Zhu, the psoriasis expert, 10,000 miles away? These are just two examples of questions that are very challenging, if not impossible, to manually find out and stay on top of over time. We have built filters in Monocl for CRM to help you optimize your meetings and identify key collaborators which you may consider to visit at the same time as you are visiting your customer.
Identify collaborators at the same location and institution as your customer
You are planning to visit a customer (a prominent opinion leader) at UCSF. A quick review of this person’s collaborators enables you to identify other relevant colleagues at UCSF working in the same therapeutic area and/or on the same target. Using regional filters, you can in seconds identify other collaborators which are a (fairly) quick ride across the Bay Bridge away at UC Berkeley. Armed with this information, you can craft an outreach strategy and possibly ask for an introduction or a reference and increase your chances of scheduling a meeting with the expert during the trip.
Regardless of location and affiliation, having one of your thought leaders make an introduction to a top collaborator might open a door that otherwise might have proven difficult to open. A lot of research has been done on the power of referrals, which has been covered in great detail in statistics from Nielsen.
While these numbers relate to advertising, the underlying idea is just as true for building a network:
If you come recommended by a trusted source your chances of actually connecting with the person are vastly increased vs cold calling or emailing.
Establishing a more coherent, transparent & efficient CRM workflow
Enabling the enrichment of person accounts with insights from Monocl transforms the daily work flow and makes it more coherent, transparent and efficient. Critically, the information becomes available in a single place which is accessible to every member of the team, thereby streamlining the workflow and systematically increasing the quality of interactions. This mitigates and eliminates many of the pain points field-based medical and commercial teams struggle with every day.
In summary, Monocl for CRM is a powerful integration designed to help you and your team spend more time driving meaningful and proactive discussions with your customers. It also helps you to drastically improve your planning efficiency and spend your time on tasks that really makes a difference in gaining a competitive edge.