Web-assisted relationship- and community-building for the pharmaceutical industry

CRM is a business strategy by which a company seeks to maximize the value of its products by managing the customer relationship, with specific aims to boost customer retention and increase market share, while reducing the costs of sales, marketing and customer fulfillment. CRM is made necessary because of advances in Web-enabled technologies, which have changed the dynamics of sales and marketing.

CRM is not an out of the box software solution that can instantaneously recoup losses due to cutbacks in sales force and media saturation. CRM is instead a constantly evolving reassessment of the relative value of relationships with target groups and effectiveness of the mediums used to communicate with them.

The greatest demand on pharmaceutical CRM infrastructure is the ability to cover multiple touch points across a diverse customer base. In this respect, the pharmaceutical industry is unlike any other, faced with a wide and varied array of customers, each of whom interact to varying degrees and at various levels.

Predictive analytics are the most challenging aspect of any CRM strategy, but also potentially the most rewarding. Online communities can play a role in developing a successful predictive CRM strategy by enabling companies to monitor the evolving thought processes of their customers.

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