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Optimizing Key Opinion Leader Relationships: Best Practices in KOL Management

ID: PSM-235


Features:

22 Info Graphics

35 Data Graphics

400+ Metrics


Pages: 69


Published: 2014


Delivery Format: Online


 

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  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • STUDY SNAPSHOT
  • KEY FINDINGS
  • VIEW TOC AND LIST OF EXHIBITS
Pharmaceutical and life science companies rely heavily on key opinion leaders (KOLs) to improve their credibility in the marketplace. KOL management, therefore, plays an important role in the development and commercialization of life science products.

This updated Best Practices, LLC research was undertaken to understand how leading pharmaceutical companies approach KOL management. It examines the organizational structures, management strategies, activities, tools and tactics associated with KOL management excellence. Research findings provide industry metrics that can serve as a reference point for companies to improve their KOL management tactics.


Industries Profiled:
Medical Device; Pharmaceutical; Health Care; Biotech; Chemical; Education; Science; Medical; Consulting; Financial Services; Diagnostic; Biopharmaceutical; Marketing


Companies Profiled:
Becton; AUSA; Abbvie; Johnson & Johnson; Genentech; ViiV Healthcare; LEO Pharma; Torrent Pharmaceuticals Ltd.; Reliance Institute of Life Sciences; Biogen Idec; Dickinson and Company; Baxter Healthcare; OCD; GlaxoSmithKline; DendreonCorporation; Abbott Laboratories; Shire; ArjoHuntleigh; Smith and Nephew; Bayer HelathCare; DiabetesCare; Medinnovation; Teva Pharmaceuticals; MSD; Janssen; Medtronic; Scientific Advantage; Galen Ltd; Nycomed/Takeda; Onyx; Boston Scientific; Abbott; Kadmon Pharmaceuticals; Novo Nordisk; Stallergenes; Santarus; Inc; Boehringer Ingelheim; Hospira; Pfizer ; The Arcas Group; Eli Lilly; Pierre Fabre Medicament


Study Snapshot

Best Practices, LLC engaged 22 KOL management leaders at 17 companies through a benchmarking survey instrument. In addition, research analysts conducted deep-dive executive interviews with selected respondents to collect qualitative data and insights.

Key Findings

Leadership and Structure: 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. In 2014, more than 4 out of 10 companies prefer a limited hybrid structure where a single group -- preferably Medical Affairs -- leads KOL management and supporting teams are linked with KOLs via communications and initiatives. Still, regional differences have led to more companies opting for a fully hybrid structure.


Table of Contents

Executive Summary pp. 3-4
    Research Overview pp. 3

    Participating Companies pp. 4-5

    Definitions pp. 6

    Key Findings pp. 7-9

    KOL Relationship Structure & Staffing pp. 10-19

    KOL Management Approaches & Tactics pp. 20-36

    Use of Social Media for KOL Management pp. 37-43

    Evaluating KOL Relationships & Value pp. 44-47

    Companies Successful at KOL Management pp. 48-51

    Lessons Learned pp. 52-57

    Universe of Learning pp. 58-64

    Appendix pp. 65-68

    About Best Practices, LLC pp. 69



List of Charts & Exhibits

State of KOL activities & role played
  • Functional responsibility for KOL management
  • Budgetary responsibility
  • KOL collaboration over product lifecycle
  • Leadership level for KOL management
  • Optimal organizational structure for managing KOLs
  • Total number of FTEs utilized by benchmark companies
  • Drivers of KOL management
  • KOL segmentation and behavior drivers
  • Important activities for developing & maintaining KOL relationships
  • 2014 spending allocation & breakout
  • Effective tools for developing and maintaining strong KOL relationships
  • Frequency of communication with KOLs
  • Medical science liaisons involvement in KOL development
  • Impact of social media on KOL management activities
  • Benefits & challenges of utilizing social media for KOL management
  • Best practices for using social media for KOL management
  • Evaluation of KOL management success
  • Top things valued by KOLs
  • Top companies in KOL management