Largest-Ever Industry Report Reveals Video Meetings 3x More Effective and Companies Using Them Most Gain Advantage

Rhea-AI Summary

Veeva Systems (NYSE: VEEV) released the Veeva Pulse Field Trends Report, analyzing over 130 million quarterly healthcare professional (HCP) interactions across 80% of global biotech and pharma companies. The report highlights that video meetings are three times more effective than in-person interactions, with key digital channels crucial for HCP engagement. While 73% of interactions remain in-person, nearly 30% utilize digital channels, with significant regional differences noted. The data aims to guide companies in developing effective omnichannel engagement strategies.

Positive

• Video calls are three times more effective than in-person meetings.
• The report provides valuable insights into HCP engagement trends.
• Companies using video calls gain a competitive advantage.

Negative

• In-person interactions dominate, with only 30% of engagements being digital.
• The industry is still shifting back to in-person, indicating potential delays in digital adoption.

Data from over 130 million quarterly HCP-field interactions across 80% of global biotech and pharma companies unveiled in Veeva Pulse Field Trends Report

Industrywide data shows frequent use of key digital channels is vital for effective HCP engagement

PLEASANTON, Calif., July 20, 2022 /PRNewswire/ -- Veeva Systems (NYSE: VEEV) today released exclusive findings on trends and effectiveness of life sciences industry engagement with healthcare professionals (HCPs) globally. The Veeva Pulse Field Trends Report analyzes activity from more than 80% of field reps worldwide and 130 million quarterly field interactions for a comprehensive, first-ever view into industrywide HCP engagement. New data reveals that video meetings are three times more effective than in-person interactions alone and digital leaders are gaining an advantage using video calls up to three times a week.

Analysis of the data shows frequent use of key digital channels is vital for effective HCP engagement.

• Video calls increase effectiveness: Engage video meetings are three times more effective than in-person meetings alone. Video calls are also longer and richer interactions than in-person, averaging 21 minutes and content is delivered in 85% of video meetings compared to only 39% in person.
• Digital is a fundamental part of the mix: While the industry shifts back to more in-person engagement, nearly 30% of HCP interactions are through digital channels. Today, field teams engage 73% in person, 18% through email, 5% over the phone, and 3% on video calls. 
• New HCP "pull" channel emerging: Chat and text is emerging as HCPs seek an easier, more direct way to reach reps when it's most convenient or if a more immediate response is needed when making prescribing decisions and helping patients consider their options.
• Regional differences appear: In Europe, companies are using digital channels more often (38% compared to other regions averaging under 20%). The U.K. is using the most email to reach customers at 43%, compared to 32% for in-person interactions.

"Companies need deep insights into customer preferences and digital trends in order to develop engagement strategies that have the greatest impact and ensure they don't fall behind," said Dan Rizzo, vice president of Veeva business consulting. "The Veeva Pulse Field Trends Report delivers critical real-world data on changing HCP and field behaviors and recommendations for true omnichannel excellence."

About the Veeva Pulse Field Trends Report

The most comprehensive benchmark of HCP engagement and field activity across the industry, the Veeva Pulse Field Trends Report reflects data and insights of more than 80% of field reps worldwide and their 130 million quarterly HCP engagements. Veeva CRM Standard Metrics provide the basis for the research and ensure consistent collection and measurement of engagement KPIs such as channel mix and productivity across regions, roles, and market segments. The data is indexed by Veeva quarterly to help companies more effectively benchmark performance and set the right, actionable goals for continued growth and impact.

Additional Information

To download a copy of the Veeva Pulse Field Trends Report, visit: veeva.com/FieldTrends 
Learn more about Veeva Business Consulting: veeva.com/BusinessConsulting
Connect with Veeva on LinkedIn: linkedin.com/company/veeva-systems 
Follow @veevasystems on Twitter: twitter.com/veevasystems

About Veeva Systems

Veeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world's largest pharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com.

Contact:

Alison Borris
Veeva Systems
925-226-8821
alison.borris@veeva.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/largest-ever-industry-report-reveals-video-meetings-3x-more-effective-and-companies-using-them-most-gain-advantage-301589921.html

SOURCE Veeva Systems

FAQ

What is the Veeva Pulse Field Trends Report?

The Veeva Pulse Field Trends Report analyzes over 130 million quarterly HCP interactions to provide insights into engagement strategies within the life sciences industry.

How effective are video meetings compared to in-person meetings according to Veeva?

According to Veeva, video meetings are three times more effective than traditional in-person interactions.

What percentage of HCP interactions are through digital channels?

Nearly 30% of HCP interactions occur through digital channels, despite 73% still being in-person.

What regional differences were noted in HCP engagement?

In Europe, companies use digital channels more frequently, with 38% of interactions compared to under 20% in other regions.