55% of companies find insights from competitive intelligence contributes significantly to helping them improve decision making.
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Nowhere is competitive benchmarking more important than in the global pharmaceutical industry, where the process for developing and releasing a new drug is complex, high-risk, and requires significant effort and resources.
Too often, the process of conducting a competitive analysis for pharmaceutical companies is siloed and focused primarily on internal processes. Sharing intelligence is equally important to fuel business strategies and growing market share, as well as attaining it.
Thus a competitive intelligence (CI) suite is critical for pharmaceutical companies to collect and visualize insights on competitors’ strategies, as well as their strengths and weaknesses for their competitor analysis.
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Paired with a well-implemented social media listening strategy, this can aid pharmaceutical companies in adding value to their drug lifecycle.
By actively monitoring customers’ sentiments towards competitors’ products or even their product and communications strategies, pharmaceutical companies can supplement traditional competitive intelligence and data sources with insights collected online around their product or service.
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This eBook guides you through the steps to enhance your pharma competitive benchmarking strategy with competitive intelligence and social media listening.