Throughout this blog series, we have educated current and future stakeholders on the following topics:

• building and maintaining business partnerships
• evolving patient care
• branding and marketing strategies
• industry trends and challenges
• the future of the pharmaceutical industry
• IQVIA’s impact on all of the above

With this final installment, we offer an exclusive interview with a key opinion leader (KOL) who works closely with IQVIA. The KOL serves as chief executive officer at a competitive intelligence company that helps pharmaceutical manufacturers understand which vendors have the best solutions and capabilities. The KOL has spent 20 years in pharma and owns a company that manages nearly 400 representatives across more than 125 pharmaceutical companies which provide feedback on experiences with vendors.

IQVIA: What is a common vendor requirement that you see across this industry? Does it differ across client type?

KOL: Communication. There are proficiencies that clients need to address regardless of size, from an emerging pharma client, to a top-five pharmaceutical behemoth, and they need vendors and solution teams that communicate well, are committed to providing insights, and deliver both the good news and the bad news. They don’t want to be surprised; people can handle bad news from time to time. What they do not react to well is surprises.

One typical shortcoming among vendors is that many account teams are always in “sales mode.” There will always be situations that cause surprises for clients. Vendors must be proactive, forthcoming, and willing to have those difficult conversations when needed. This builds trust, familiarity, and serves as an ignition tool to drive relationships and expand your footprint.

As far as differences, large pharma clients tend to have more resources and individuals who go deeper in certain specialty areas. With emerging clients, a chief commercial officer might wear eight hats and have eight different needs, but everyone needs the same type of communication.

IQVIA: What do clients struggle with when identifying capabilities or solutions?

KOL: This varies by client, but traditionally, we see the default being the “easy route” where clients stick with vendors that are already embedded onsite and already involved in other projects. This tends to result in a lack of objectivity, or a missed opportunity to refer the client to an alternative solution that might be better equipped to address their critical business needs.

When a vendor tells a client that there is someone else that they should consult with, they are offering something significant; they are building trust and moving their personal relationship forward with that decision-maker. For example, some of the most successful engagements we see are when vendors refer people to professionals in specific therapeutic areas. The key is to promise only what you can actually deliver. You will grow your business exponentially if you get out of “sales mode.”

IQVIA: How do manufacturers define partnerships when it comes to vendors?

KOL: The biggest distinction is that a “vendor” sells a product or service that is transactional. Many times, there are multiple options for a client’s need. The client purchases something to meet a specific business need or answer a business question but they don’t think about the bigger picture. Many vendors are transactional in nature. They just don’t have consultative types on their team.

A “partner” is someone who has regular meetings with brand teams, commercial leadership teams, and others important influencers and decision makers throughout the organization. They understand challenges, opportunities, and business models and they listen to the needs of the business in a proactive way. They’re bringing market insights, sharing centers of excellence, and discussing new business strategies to help their clients create “wins” in the marketplace.

IQVIA: Are there changes you see coming in 2021 and 2022 about client operations related to how they procure and use services based on 2020?

KOL: Absolutely. As pharmaceutical clients spend more time at home and less time onsite, it’s going to be important for relationships to be established that can be worthwhile, especially if you are only meeting virtually. Many teams are no longer sitting next to the decision-makers. Nobody cares about how much you know until they know how much you care. That’s incredibly applicable in this pandemic world today. Make sure that you’re communicating things that are relevant to others’ needs, not just your own. When your customers are working from home, and they have those challenges, you want them to be top of mind. Differentiate yourself versus the competition by creating trust. That’s the easiest blueprint for success.

IQVIA: What are key efforts that partners can take to drive positive change in a relationship?

KOL: Help your key customers at every level of the organization – not just those in the C-suite – to be more involved in the important conversations. These professionals typically want more responsibility and being able to offer thought leadership insights, data, and feedback is important at all levels of management, especially from a career advancement standpoint. If you’re giving someone access to thought leadership, you’re helping them become more knowledgeable in what they’re doing. This will translate to improved job performance and recognition on their end, which will benefit everyone involved. Most people do not forget who helped them get to where they are, and they will want to keep that connection as they move through their career.

IQVIA: What’s the perception overall of IQVIA as partner?

KOL: From a macro standpoint, almost every pharmaceutical manufacturer utilizes IQVIA because of the company’s data assets and breadth of offerings in the marketplace are something that the industry considers best-in-class.

But today, there are a growing number of companies that also now see IQVIA as a consultative end-to-end solution that can answer difficult questions about utilizing data and utilizing IQVIA’s consultancy expertise and insights to move the needle.

For example, your thought leadership positioning has separated you from those defined as “data companies,” and the way in which you addressed the COVID-19 reports really made an impact at the senior level, allowing many to see the real potential in partnership for macro issues.

Having those individuals across your organization that the industry now views as subject-matter experts for COVID-19, for payers, for trends, and much more brings tremendous value to the market and sets IQVIA apart as a partner who is willing to take things to the next level.