Articles

How to Realize Value From Digital Events

THOUGHT STARTER SERIES

The events landscape in life sciences changed dramatically during COVID-19,
a point highlighted by recent data that notes 800,000 fewer interactions
from field-based events in the U.S., a 75% reduction in pharma-sponsored events
during the months immediately following onset of the pandemic, and a significant
uplift in online events.1

While a return to in-person events has already been seen as we enter the post-pandemic phase,
that doesn’t mean digital events will be completely out of the picture. With more than
70% of HCPs now digital natives,2 customers and companies are increasingly
showing a preference for deeper digital penetration and hybrid events. With a digital-first
approach to events, life sciences marketers can ultimately operate with greater agency and
expectations in a more competitive events market.

An opportunity for a fresh approach

For many pharma companies, this shift can seem daunting,
especially when so much rides on large annual events and
local dinners to get key product information and clinical data
to HCPs. But it doesn’t have to be.

Digital events provide a unique opportunity for a refresh
of your events strategy, and they generate value beyond
in-person events by delivering educational content and
patient insights all year long. In today’s world, the winning
formula is more likely to be smaller, recurring events where
bite-sized chunks of content are delivered more frequently,
and information is shared in formats optimized for
peer-to-peer collaboration.

Potential benefits companies can expect to see from digital
events include:

  1. Greater reach
    Borderless interactions and lower logistical burden
    help drive a broader stakeholder group and better
    attendance—a point enhanced when events are made
    shorter or on-demand, allowing people to more easily fit
    them into their schedules.
  2. Personalized interaction
    Digital removes a one-size-fits-all approach and makes
    it easier to capture and tailor content to HCP preferences
    through personalized journeys.
  3. Improved insights
    Digital engagement enables better customer activity
    tracking, allowing for a deeper understanding of their
    preferences and interests.
  4. Better ROI and efficiency
    Large in-person events are costly. Digital removes a lot of
    this cost, which means budgets can stretch a lot further
    for potentially higher impact.

“Having a digitally focused events strategy
provides the flexibility to reach HCPs in
the format that fits their preferences, whether
live or virtual, at the time they are looking
for information. This approach gives pharma
the ability to deliver more personalized
experiences and reach previously
untapped audiences.”
– Kimberly Berger, GM, Veeva Digital Events

How to get there

As the event landscape evolves, now is the time to make the
most of digital events by optimizing the way they’re planned
and executed. Here are six steps to delivering an effective
event strategy:

  1. Integrate digital events into your broader omnichannel
    strategy

    Historically, events were siloed and were rarely integrated
    into customer journeys; however, in the future they should
    be closely integrated and coordinated across different
    teams to offer a seamless experience across the various
    channels used to interact with customers. Companies
    should have a clear and coordinated strategy for driving
    attendance, while providing enhanced post-event
    interaction to continue the dialoguec
  2. Target the right people
    To get the most efficient return on your investment,
    the participants and presenters should be carefully
    selected to ensure they meet company objectives and
    customer needs. This can be done in multiple ways,
    such as engaging therapy-area thoughts leaders
    (e.g., using Veeva Link to help identify who those digital
    opinion leaders are). Having a clear value proposition for
    these attendees is critical. Previous insights into event
    attendance and content preferences can help articulate
    the “what’s in it for me?”
  3. Design an engaging structure
    A phrase often heard over the past year is “screen fatigue,”
    when the monotony of Zoom calls causes participants
    to stop engaging, or even worse, stop attending in the
    first place. While this can be a barrier, we’re seeing HCPs
    engaging much longer through remote/virtual channels—
    proof that when the content is appropriate, HCPs will
    listen. Digital events should be appropriately structured
    and personalized to ensure the experience is interesting
    and relevant. Consider including previews and teasers
    of different sessions, a variety of session formats, and
    opportunities for interactivity and social sharing.
  4. Offer something unique
    Content is the foundation of any interaction, but an event
    needs to add something different to bring the content
    to life. HCPs can go to the internet to get information—
    companies need to carefully think through what else
    the HCP will get by attending. The ability to interact
    with colleagues, hear from a particular key opinion
    leader (KOL), or get a first glimpse at new data are often
    compelling propositions.
  5. Capture valuable insight
    HCPs are not a homogenous block with the same
    personalities and preferences. Realizing this,
    organizations are increasingly shifting towards
    personalized engagement strategies; however,
    this relies on effective insight capture.
    Companies can build their understanding of HCP
    perception and preferences by capturing qualitative
    insights, or through more advanced means, such as
    content tagging, polling, or post-event surveys. Insights
    should then be analyzed, disseminated, and fed back
    into the broader strategy to allow personalized future
    engagements.
  6. Leverage the right technology stack
    Underlining this new agile approach must be a technology
    stack that is simple, integrated, flexible, and compliant.
    At the most fundamental level, the system should be
    easily usable and scalable to allow variable event sizing,
    easy log-in, and customer use. The most effective
    solutions will allow data integration from multiple internal
    and external sources to provide a single customer view.
    This integration will enable sales and marketing to derive
    actionable insights and inform their downstream tactical
    approach to customer engagement.

Embracing a digital future

While the market has shifted to digital and hybrid events, it
doesn’t have to mean lower engagement. On the contrary,
it is an opportunity to refresh your event strategy to drive
even richer engagement through regular, differentiated, and
memorable events.

The greater scalability and quality of interactions make
digital events a strategic necessity. Companies that get it
right will benefit through deeper insights, better customer
experiences, and ultimately, an improvement in event
outcomes, brand perception, and product advocacy.

Key takeaways

Digital or hybrid events are
gaining traction because they
provide an opportunity for better
reach, improved customer
satisfaction, enhanced insight
generation, and more efficient ROI.

Feedback collection and insights
generation are at the heart
of successful events, not just
pre-, during, and post-event,
but as part of a continuous process
to personalize all aspects of the
customer journey.

Underlying any successful
digital or hybrid event should
be a flexible, integrated technology
stack
for providing a next-level
customer experience.

For more best practices on planning and executing your next event,
check out this interactive guide to event planning.

Fowey Harvey
Business Consultant
fowey.harvey@veeva.com

About Veeva Business Consulting

Veeva Business Consulting combines commercial and medical expertise with Veeva’s proprietary data and technology to deliver better business
focused solutions for our customers. Our team of experts offers a suite of advisory offerings, including launch readiness, digital acceleration, and
content optimization, all supported through unique HCP insights and analytics.

To learn more, visit veeva.com/business-consulting.


1 “Emerging Best Practices for Digital Events,” Veeva, 2021.
2, 3 “Intelligent HCP Engagement in Europe,” Veeva and Across Health, 2020.