Importance of CRM in Pharmaceuticals

CRM is about identifying, satisfying and keep hold of customers to maximize a company’s value through their top consumers. And therefore CRM in pharmaceuticals is given even more and greater importance. Why is CRM so important for pharmaceutical companies?

• Difficulties in creating a product as would take a long period of time which is about 13 years and another expiry date of 15 years altogether.
• It’s a costly process to introduce a product to the consumer.

• Even for the product’s uniqueness, Ownership of the product has a short life cycle.
• Higher revenue exists through a shelf life for a product through a doctor’s prescription keeping consumer’s loyal after the feeling of better well being.
• CRM helps to participate in innovation whereby, without it it’s impossible to fight competition and keep earning revenue.
• Improve customer retention rates.
• The reduction in time to market the new suggestions.
• To create a link that is inexpensive between the company and the loyal customers.

Useful Link

Pharmaceutical CRM