Significant opportunity for biopharmas as only 39% of HCP meetings across the globe today present digital content
SINGAPORE, April 20, 2023 /PRNewswire/ -- Veeva Systems (NYSE: VEEV) today released the latest Veeva Pulse Field Trends Report, the largest analysis of global healthcare professional (HCP) engagement across the biopharma industry. Data shows that leveraging digital content during in-person and video meetings achieves better promotional responses than those that do not use digital content.
Using digital content in HCP meetings has a significant, measurable impact. Veeva Pulse insights show successful field teams share content four times more than companies that don't, creating a clear advantage. Yet, more than 60% of field engagements across the industry don't use digital content, missing an opportunity to make the most of limited and timely exchanges with HCPs.
"Veeva Pulse data shows that field teams are becoming increasingly aware of the importance of leveraging digital content during in-person and video meetings," said Shafi Hussain, Veeva Asia business consulting lead. "In markets like Japan and Korea, we're also seeing a rise in field teams leveraging digital platforms such as Veeva Engage."
Veeva Pulse analysis shows digital content used during meetings in APAC, Korea and Japan is a key lever to increase field effectiveness and drive more impactful conversations:
- Field teams in APAC used the most content when interacting with HCPs through Veeva Engage, as compared to other video channels. Content utilization in the region was the highest when sales reps leveraged Veeva Engage, with 88% of all meetings with HCPs using digital content. Overall, reps shared digital content more frequently through video channels than through in-person meetings.
- Field teams in Australia engage with HCPs the most on digital platforms, followed by teams in the Philippines and Japan. Email and virtual meeting tools such as Veeva Engage are the most preferred HCP communication channels in these markets. In Australia, the average time for HCP interaction is up to 17 minutes, the longest of all the markets.
Across the globe, Veeva Pulse analysis also shows that digital content continues to drive more personalized experiences with HCPs and better sales outcomes:
- High-impact content drives HCP engagement. In the last year, biopharmas across the globe created 20% more content. Yet, of all the content created by field teams, 77% is rarely or never used. This indicates a need for companies to focus their content strategy on developing fewer assets that are proven effective in advancing relevant engagements with HCPs.
- Successful teams use content four times more. Field reps that use digital content the most outpace four times others who don't frequently leverage it. Field teams have room for growth, currently sharing digital content in just 39% of meetings, despite its proven effectiveness.
About the Veeva Pulse Field Trends Report
Analyzing over 600 million HCP interactions and activities annually from more than 80% of commercial biopharma field teams worldwide, the Veeva Pulse Field Trends Report is the largest industry benchmark of its kind on HCP engagement. The analysis compiles real-time transactional data recorded in Veeva CRM to deliver a view of engagement activity across life sciences. Indexed by Veeva quarterly, the data helps companies effectively and accurately benchmark performance to set the right, actionable goals for continued growth and impact.
Additional Information
To download a copy of the Veeva Pulse Field Trends Report, visit: veeva.com/FieldTrends
Learn more about Veeva Business Consulting: veeva.com/BusinessConsulting
Connect with Veeva on LinkedIn: linkedin.com/company/veeva-systems-apac
About Veeva Systems
Veeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world's largest pharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit http://veeva.com/ap.
Veeva Forward-looking Statements
This release contains forward-looking statements regarding Veeva's products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-K for the fiscal year ended January 31, 2023, which you can find here (a summary of risks which may impact our business can be found on pages 9 and 10), and in our subsequent SEC filings, which you can access at sec.gov.
