Thought Leader Management 1.3 is the third module of the 10-part Medical Affairs Product Launch Series. It showcases innovative insights, best practices and benchmarks surrounding thought leader development activity start times, budgets, staffing, key performance indicators and resources that occur as part of medical affairs’ contributions to product launch strategy. In developing this module, Cutting Edge Information’s analysts collected surveys from and consulted with a series of medical affairs leaders at a number of top pharmaceutical, biotechnology and medical device companies.
To learn more about the other modules in the Medical Affairs Product Launch Series and the benefits of subscribing to the entire series, click here.
Top Reasons to Buy Thought Leader Management 1.3
Identify key performance indicators (KPIs) used to define the value of thought leader development teams: It is not possible to link thought leader activities directly to profits. This module explores other metrics, including the number of thought leader relationships per lifecycle stage, used to determine thought leader teams’ effectiveness and productivity.
Review thought leader development team resource and staffing levels throughout the product launch window: Staffing often creates a relationship between team budget allocation and number of full-time equivalents (FTEs). Use the benchmarking data in this module to ensure appropriate resource levels. This series module also discusses when in the lifecycle companies choose to outsource thought leader development activities.
Explore thought leader development team profiles: The module explores aggregate thought leader development resource and activity levels along with breakdowns of individual teams. It details the thought leader team’s maximum budget and staff size as well as the number of newly identified thought leader and KOL relationships at each stage in the launch window. These snapshots can help to guide your team’s activity and resource levels. They can also serve as evidence to support or defend team needs.
Thought Leader Development Activity Start
One valuable consideration concerning thought leader development activities is the starting time. Teams begin in varying lifecycle stages. Most surveyed teams start after Phase 2; only 25% of surveyed teams start their thought leader development activities before Phase 3 (Figure 1.3.1). Many companies do not start thought leader development before Phase 3 due to the much higher failure rate of drugs in earlier lifecycle phases.
- By far the most popular starting stage for surveyed teams is Phase 3.
- Between both Phase 3a and 3b, 50% of surveyed teams begin their thought leader development activities.
- The next most popular stage to begin these activities is registration and launch.
- Not one surveyed team begins its key opinion leader development after launch.