Omnichannel transformation: Where’s the industry at?

From the Precision AQ MATUROMETER 2024

Insight by experts from PrecisionAQ, who teach CELforPharma’s courses Strategic Omnichannel for Pharma Marketing, Strategic Omnichannel for Medical Affairs, and Omnichannel Launch Excellence for Medical & Marketing

Digital transformation takes time and is risky: only 10% of transformation projects fully succeed (ZS Associates). So, how is pharma faring in this space? For 16 years, the Maturometer report from Precision AQ (the new name for Across Health) has tracked the pace of the industry's transformation, offering a unique overview of how companies are adapting and progressing on their journey towards omnichannel maturity. From satisfaction levels to budget allocations, global-to-local (in)efficiencies to Cx, plus the growing influence of emerging technologies like AI, this year’s Maturometer once again highlights the key dimensions shaping pharma’s future.

Pharma digital budgets have declined to 2020 levels

After years of growth, digital budgets have fallen back to 2020 levels. This drop has widened the gap between pharma and B2B, with B2B estimated to allocate about 56% of its total budget to digital efforts (Gartner).

Though few are dissatisfied, most pharma colleagues are neutral (not satisfied) about their own omnichannel efforts

Although the proportion of ‘dissatisfied’ respondents is decreasing, we’re not seeing much movement into the ‘satisfied’ category, which remains stable but low at 23%. Instead, the ‘neutral’ segment is growing. Can we identify what’s preventing the neutrals from becoming satisfied?

Digital knowledge levels have declined for a third year in a row

The industry states that digital knowledge levels are going down. In a fast-moving world, are digital opportunities increasing faster than teams can keep pace with? Could more effective upskilling help here?

Pharma must connect ‘reach’ with conversion KPIs (attitude/behaviour) to measure true ROI

Concerns over ROI continue to be an important obstacle for digital success (Maturometer). Yet we see when it comes to impact measurement, pharma is still very much focused on operational reach metrics (channel interaction levels). To gain a more comprehensive view of success, pharma needs to connect reach with outcome-oriented KPIs that can indicate attitudinal/behavioural conversion.

Pharma plans to be more evidence-based and start planning earlier for new OC campaigns

Almost half of respondents plan to adopt a more evidence-based strategic view rather than focusing on tactics, while nearly a third want to start the planning process earlier. To succeed, companies need to establish the right knowledge and experience levels, leverage robust insights, and effectively track what works and what doesn’t.

Now more than ever, the Maturometer report serves as a crucial benchmark, capturing both the strides the pharma industry has made and the hurdles it still faces in adapting to an increasingly digital and interconnected world. The good news is that, while there are challenges ahead, they can be overcome – and some pharma organisations are already leading the way (and reaping the benefits).

The full report can be found here.