Björn Dufwenberg, Managing Director at STRAT7 Advisory, shares how pharma and healthcare companies can adopt a more customer-centric approach, meeting the changing needs of their customers while delivering more value to them.
STRAT7 Advisory together with Incite Health, will be running a webinar to explore how, in today’s business landscape – where change is happening faster than ever – companies can reinvent and drive true customer centricity.
At STRAT7 we believe that true customer centricity is the key driver of long-term profitability, as it makes a business more able to adapt to changing customer needs, preference and behaviours. Similarly, pharma companies have long recognised the need to be more patient- and HCP-centric.
We’ve been working closely with the health experts at Incite to understand what that looks like in practice. Including what lessons we can learn from the way consumer brands engage with their customers, and how our toolbox can be applied to the pharma industry to create real business impact through customer centricity.
Ahead of our webinar I’d like to share the three key areas of this unique challenge. The session will explore these in more depth, so if you haven’t signed up yet, you can register your place here.
We have distilled the challenge into three key areas:
1. Making customer centricity tangible for health/ pharma businesses today, including taking a deeper look at who the customer is in this sector.
By deeply understanding customers, it becomes possible to identify pain points, uncover unmet needs, and predict future demand, enabling proactive development of products, services, and experiences that resonate with the audience.
2. How to navigate change successfully, both internally and externally, by cracking the code through customer centricity.
Businesses can find themselves on the back foot, unsure how to tackle so many challenges at once, and at the mercy of more agile and adaptable competitors. The key is to develop internal capabilities and leverage external expertise to establish a ‘sensory system’ that consistently detects and acts upon market and customer changes.
A successful customer-centric model places the customer at the core of every business decision, with an operating model that supports this. Deep understanding of customer needs, preferences, and behaviours guides product development, marketing strategies, and service offerings.
3. Practical solutions and our structured framework, STRAT7 Path, to evaluate true customer centricity.
We have developed a proprietary assessment framework which establishes the level of maturity of the business on its journey to customer centricity.
Organisations that fail the customer centricity test are more likely to face risks, including:
- Loss of customer loyalty, retention, and the risk of negative reputation
- Missed revenue opportunities
- Competitive disadvantage
- Innovation stagnation
- Difficulty in adapting to change
Whereas those that pass the customer centricity test are more likely to reap rewards, including:
- Enhanced customer experiences
- Competitive advantage
- Impactful innovation
- Positive reputation and brand image
Adopting a customer-centric approach should, therefore, be viewed as – at the very least – a survival strategy, and really a way of getting ahead.
Our upcoming webinar looks at how pharma and healthcare companies can adopt a more customer-centric approach, meeting the changing needs of their customers while delivering more value to them.
If this has piqued your interest, join us on Wednesday 22nd November 2023 as we explore and redefine what it means to be customer-centric in the pharma industry.
Join our webinar to find out more
Date: Wednesday 22nd November 2023
Time: 2pm GMT | 9am EST
Hosted by: Björn Dufwenber, Managing Director, STRAT7 Advisory and Lizzie Eckardt, Head of Health & UK Managing Director, STRAT7 Incite.
Guest speaker: We’re delighted to have Lucy Mitchell, Head of Business Intelligence, Jazz Pharmaceuticals, join us to share her journey with customer centricity to date.