Veeva Pulse Shows Doctors Opening Up Two-Way Communications Doubles Digital Engagement

Rhea-AI Summary

Veeva Systems (NYSE: VEEV) reveals that compliant chat channels increase HCP engagement by over 30%, with rapid response times of less than five minutes. GSK's global product director emphasizes the importance of responsiveness and value-added communication.

Positive

• Compliant chat channels lead to a significant increase in HCP engagement, with a 30% conversation initiation rate by HCPs.
• Rapid response times of less than five minutes demonstrate the effectiveness of two-way digital communication channels.
• Insights and two-way communication capabilities have helped GSK create a foundation for a service-focused engagement model.

Negative

• None.

HCPs initiate 30% of conversations when field teams provide compliant chat as a channel

New channel puts reps closer to the moment of need with doctors and their patients

PLEASANTON, Calif., Nov. 9, 2023 /PRNewswire/ -- Veeva Systems (NYSE: VEEV) today published its latest analysis from the Veeva Pulse Field Trends Report, showing the impact of two-way, digital communication channels on field engagement. Findings reveal that access to compliant chat expands the engagement channel mix, more than doubling digital touchpoints with healthcare professionals (HCPs) while maintaining or increasing in-person meetings.

In fact, HCPs start 30% of conversations with field teams when using compliant chat. Often sent in the moment of need, compliant chats gain a rapid response from field teams in less than five minutes. This two-way communication delivers on HCP requests in real time, creating the foundation for a service-focused engagement model that improves access and efficiency. 

"To communicate effectively across digital channels, you need to focus on responsiveness, adding value with the ability to give customers what they need, exactly when they need it," says Dave Yates, global product director, GSK. "Having the insights and two-way communication capabilities to meet, connect, and share has given us a foundation for thinking about digital engagement on a whole new level."

Veeva Pulse shows that two-way communication channels increase the quality of HCP interactions:

• Inbound channels help to double digital engagement. The average global engagement channel mix is 78% in-person and 22% digital. However, biopharmas that add inbound channels, like compliant chat, expand their mix to 42% in-person and 58% digital. This more than doubles digital touchpoints while keeping the volume of in-person exchanges the same or better.
• HCPs start 30% of conversations with an inbound channel. When sending messages via compliant chat, HCPs are shown to get a response from field teams in less than five minutes — such as sending requested content and samples or scheduling a meeting. Compliant chat has clear advantages for HCPs over text or stand-alone chat apps that have compliance risks and disconnected data.
• Responding in the moment of need increases and improves interactions. Combining in-person touchpoints with responsive, real-time interactions—in between meetings and in the moment of need—creates more meaningful engagement with HCPs. Field teams adopting this service-focused approach, maintain or boost in-person frequency, while increasing video meetings from 2% to 12% of the engagement mix. Read rates for content sent via compliant chat (80%) are also double those of content sent via email (40%).

"Real-time digital touchpoints between meetings are creating a more effective relationship between HCPs and field teams," said Dan Rizzo, global head of Veeva business consulting. "Channels like compliant chat empower HCPs to reach out when they need it, creating meaningful relationships that lead to more efficient paths to treatment."

About the Veeva Pulse Field Trends Report
Analyzing over 600 million HCP interactions and activities annually from more than 80% of commercial biopharma field teams worldwide, the Veeva Pulse Field Trends Report is the largest industry benchmark of its kind on HCP engagement. The analysis compiles real-time transactional data recorded in Veeva CRM and Veeva data products to deliver a view of engagement activity across life sciences. Indexed by Veeva quarterly, the data will help companies effectively and accurately benchmark performance to 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

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 biopharmaceutical 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.

Veeva Forward-looking Statements
This release contains forward-looking statements regarding Veeva's products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-Q for the period ended July 31, 2023, which you can find here (a summary of risks which may impact our business can be found on pages 38 and 39), and in our subsequent SEC filings, which you can access at sec.gov.

Contact:

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

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SOURCE Veeva Systems

FAQ

What is the impact of compliant chat on field engagement for Veeva Systems (NYSE: VEEV)?

Compliant chat increases HCP engagement by over 30%, with rapid response times of less than five minutes.

How does GSK's global product director emphasize the importance of digital communication?

He emphasizes the need to focus on responsiveness and adding value with the ability to give customers what they need, exactly when they need it.