Non-members: Click here to review a complimentary excerpt from "Optimizing KOL Relationships: Structure, Management Tactics and Social Media"
Key Opinion Leaders (KOLs) play a critical role in educating the medical and scientific communities to build awareness about the latest medical therapies and novel mechanisms of action. KOL relationship management has thus emerged as a necessary and vital part of organizational success.
In an effort to examine how leading pharmaceutical companies approach KOL management, this research by Best Practices, LLC identifies the key elements of KOL management excellence, from leadership structure and resource levels to relationship activities and social media usage/impact. Research findings provide industry metrics that can serve as a reference point for companies to improve their KOL management tactics.
- KOL Relationship Structure & Staffing
- KOL Management Approaches & Tactics
- Use of Social Media for KOL Management
SAMPLE KEY METRICS
SAMPLE KEY FINDING
- Do you have designated individuals for oversight of KOL activities
- Group(s) with functional responsibility for KOL management
- Group(s) with budgetary responsibility for KOL management
- Level of person with oversight responsibility for KOL management
- Optimal organizational structure for KOL management
- Estimate of total FTEs used for KOL management
- Drivers of KOL management
- Ranking of activities for developing and maintaining KOL relationships
- Activities important to developing new KOL relationships
- Activities important to maintaining KOL relationships
- Percentage of KOL spend allocated to KOL activities
- Effectiveness ranking of tools for developing new KOL relationships
- Effectiveness ranking of tools for maintaining old KOL relationships
- Contact frequency for national KOLs
- Contact frequency for regional KOLs
- Level of MSL involvement in KOL development
- Impact level of social media on KOL management activities
- Social forms utilized to connect with KOLs
- Top benefits of using social media for KOL management
- Roles and Responsibilities: Half of the benchmark class use a dedicated individual or group to oversee KOL management. The group’s main responsibilities include KOL mapping and engagement strategies and deciding KOL priorities.
- KOL Management Leadership: KOL engagement continues to be led at a director level or above at 59% of companies. However, the percentage of companies where managers oversee KOL management has doubled from 2012 to 2014.
Twenty-two benchmark survey respondents from 17 companies participated in this study. Nearly 33% are directors, senior directors or vice presidents, and 45% are based in the United States. The participants represent three different industries. About 68% work in medical and scientific affairs.