Agile brand tracking: a strategic imperative for pharmaceutical success
November 2024
By Hannah Tough, Senior Research Director at Day One Strategy
Launching a new drug in the pharmaceutical space has always been high-stakes, but with increased pressures on budgets, access barriers, and fewer blockbuster opportunities, today’s launches are more competitive and complex than ever.
The pharmaceutical market has seen transformative products, such as Gilead’s Sovaldi in Hepatitis C1 and Merck’s Keytruda in oncology2, fundamentally reshape treatment landscapes. However, not all launches can achieve such impact. In fact, only a third of drug launches meet their first-year sales expectations1, underscoring how critical it is to get launches right the first time.
Traditional brand tracking approaches often lag behind market realities, providing retrospective data from a market that may have already moved on. Pharmaceutical companies need tracking that is as dynamic as the market itself – especially in a launch situation. That’s where agile brand tracking comes in—enabling companies to act on real-time insights and course-correct when needed.
Agile Tracking
At Day One, agile tracking means weekly insights to facilitate real-time decision-making, coupled with simplified data integration to provide a holistic view of brand performance. These combine in actionable advice and strategies that allow our clients to make confident decisions.
Why Agile Tracking Matters
Agile tracking is no longer about simply collecting data and delivering insights; it’s about having the flexibility and speed to interpret and act on them. Success hinges on tracking approaches that can adapt to shifts in the market and guide strategic decisions.
The Benefits of Agile Tracking
- Pre-Launch Market Understanding: Agile tracking helps companies understand how physicians perceive the disease and existing treatments before launch. This ensures brands enter the market with a clear view of the landscape
- Early Indicators of Success or Risk: Real-time insights allow for close monitoring of performance against KPIs, helping brands identify and address issues before they escalate
- Spotting Early Adopters: Identifying early adopters and understanding their motivations provides critical guidance for targeting and messaging strategies
- Actionable and Strategic Insights: Agile tracking aligns data with brand goals, moving beyond traditional reporting to deliver insights that drive action
- Leveraging Technology for Speed: By enhancing human intelligence with technology, companies gain the confidence to adapt swiftly and effectively
Moving Beyond Data Collection
Agile tracking doesn’t just provide a snapshot of how a launch is performing—it creates a feedback loop that allows brands to continually learn and refine. It shifts the focus from reactive reporting to proactive strategy, empowering companies to stay ahead in a competitive environment.
Conclusion: Agility as a Competitive Edge
In a world where you only get one chance to launch, agile tracking is no longer a nice-to-have—it’s essential. By embracing this approach, pharmaceutical companies can transform launches into a strategic advantage, ensuring they don’t just react to market changes but lead with foresight and precision.
References
- https://www.fiercepharma.com/marketing/it-s-official-gilead-s-sovaldi-zooms-past-previous-records-fastest-ever-drug-launch
- https://www.biopharmadive.com/news/cancer-immunotherapy-decade-keytruda-opdivo-pd1-oncology/725774/
- McKinsey & Company’s report, Beyond the Storm: Launch Excellence in the New Normal