TeqTalk

(Disclaimer: The transcript has been edited for length and clarity)

Jas: Welcome to yet another of TeqTalk, where we discuss all the latest in tech and its tangible impact on business outcomes. As some of you are aware, I was at TDX in March 1^st week, and I had an amazing time there, connecting with fellow tech enthusiasts. Let me tell you – everyone is excited about the enormous possibilities of Salesforce AI, and there is a great sense of optimism and excitement on how all this can optimize our work. In addition to the excitement, there is a consensus that using AI in an ethical and sustainable manner is important and we all have a collective responsibility toward that. Well, what Salesforce is doing around AI, especially Salesforce Einstein 1 Studio is truly exciting, and I am really looking forward to how it actually translates into greater efficiency for everyone.

As many of you may already know, I had the pleasure of attending Salesforce TDX during the initial week of March. It was an enriching experience marked by valuable connections with fellow technology enthusiasts.

The event was exciting, with the significant potential of Salesforce AI echoing throughout. There is a unanimous agreement on the importance of deploying AI in an ethical and sustainable manner, underscoring our collective responsibility in this regard.

The innovative initiatives spearheaded by Salesforce in the realm of AI, particularly the advancements in Salesforce Einstein, are undeniably captivating. I eagerly await witnessing how these developments will translate into enhanced efficiency for all stakeholders involved.

Returning to today’s episode, we have a significant installment lined up for you. This episode stands out as we’re eager to guide you through the solution meticulously developed by the Teqfocus Team over the past few months. Before we delve into the intricacies of this solution, I’d like to extend a warm welcome to today’s guest on the podcast, Mr. Aditya Arora.

A quick intro of Aditya Arora , Aditya is  the Chief Delivery Officer at Teqfocus. With nearly two decades of dynamic leadership experience spanning the realms of various Industries , he is a seasoned go-to-market (GTM) strategist and solution sales leader. Throughout his career, Aditya has demonstrated a remarkable ability to deliver innovative solutions tailored to the needs of Digital Operations. Prior to joining our team, Aditya held a pivotal roles at Accenture and Virtusa.

Aditya: Thanks Jas and hello everyone at TeqTalk….

So, Aditya, before we go into the specifics, I just wanted to touch base on your perspective – how do you see all the latest advancements in AI impacting pharma commercial business?

Aditya: Certainly! AI’s impact across all industries is game-changing, especially Pharma, and can bring significant transformations. It will transform every facet like Research and Development, Supply chain & Manufacturing, Commercial, and other enabling functions in the coming years. While we perceive that AI’s impact will be mainly on productivity gains, on the commercial side, the impact will be more on growth than just productivity improvements.  

From HCP micro-segmentation within territories to creating personalized reach-out emails and sales pitches to automated orders, invoices, and forecasting, AI has a huge role to play in the pharma commercial landscape. It is, in a true sense, helping create a connected commercial enterprise that sales reps, marketers, and analytics teams have been longing for.

Jas: Absolutely, and all these translate to the goal of providing a superior customer experience.

Overall, integrating technology and AI in the pharmaceutical industry is reshaping commercial strategies, from drug discovery and development to marketing and customer engagement. Embracing these advancements enables pharma businesses to stay competitive in a rapidly evolving landscape while improving patient outcomes and operational efficiency.

Aditya, I am excited to know more about what you and the team at Teqfocus have purpose-built for the pharma commercial business. Would you like to share some details about it?

Aditya: Yes, Jas, absolutely. Teqfocus has been working closely with many pharmaceutical clients, so we understand the gaps and can help with the roadmap for AI adoption. LLMs are the new buzzword and have shown incredible promise to reshape how we interact with technology today. At the same time, we are also assessing the impact on the security and IP aspects with our clients.

Before discussing what we have built, let me explain the critical objectives of our solution. Broadly, these include,

• Understand the pain points of Marketing operations and how we can expedite their campaign launch.
• The goal of this solution is to reduce friction between the moving parts in marketing operations, deliver content (in the form of text, pictures, and video), and build an algorithm for lead segmentation.
• On the other hand, how we can simplify Medical Reps life but taking away rudimentary but necessary tasks like keeping updated with the new features of the product, creating hyper-personalized message content, summarizing HCP needs before the meeting in the form of mini personalized sales pitches, scheduling the appointments, submit order and invoices automatically, update their pipeline reports and many more.
• Again, the goal is to help MR focus on closing the and technology does the leg work.

To ensure that organizations get the most out of their commercial teams, Teqfocus has recently launched a GenAI-powered solution called TeqNext for Pharma. It will help transform commercial operations with a unified solution that supports the entire customer engagement journey from marketing to sales to post-sales. With Salesforce as the layer of engagement powered by AI and data analytics from Snowflake and AWS. We can help personalize campaigns and maximize ROI to maintain the competitive edge. It is a step above the copilot concept.

Let’s go through the solution and how it empowers sales, marketing, and analytics teams to accelerate growth.

Jas: Sure, excited for the same.

Aditya: Let us understand this with an example.

Traditionally, Marketing operations and Sales teams had to entail a lot of manual work in terms of research, pre-call planning, creating personalized content, understanding the market, knowing the best time to reach the ICP etc.

With our advanced AI-powered, built-on Salesforce solution TeqNext, most of the traditional manual tasks are automated, allowing sales and marketing teams to focus on their core competencies.

Right from creating personalized marketing content to drafting reach out emails and doing the necessary research about prescribing patterns, TeqNext is a powerful assistant to pharma commercial teams.

Jas: That’s really exciting to know, considering most pharma commercial teams, especially sales reps, often spend a lot of time creating Excel sheets or importing/exporting data from CRMs. They are also entrusted with creating emails and messages for a large dataset of HCPs, which often makes it difficult for them to create personalized messages. Further, researching the preferences of an HCP and doing pre-call planning eats up a sizeable chunk of time of sales reps – if all of this is automated, not only will the probability of human error decrease, but sales managers and CROs will be in a better position to manage the workloads of their employees.

Aditya: Absolutely, Jas. Unfortunately, stress is a big part of the life of pharma commercial teams, and the industry has been grappling with significant attrition rates due to operating in high-pressure environments for a prolonged time. Apart from the business benefits, TeqNext will also help pharma C suite in managing the wellbeing of their teams.

Jas: Absolutely, Aditya. This aspect is often less talked about, so thank you for touching upon it. I am also curious to know a few of the use cases where TeqNext can be utilized at scale by pharmaceutical organizations.

Aditya: Sure, some of the use cases where TeqNext can be implemented at scale include

Personalized Marketing Content Generator

TeqNext analyzes customer data, including demographics, preferences, and past interactions, to generate highly personalized marketing content, such as email campaigns, social media posts, and digital advertisements. This personalized content can be tailored to specific customer segments, increasing engagement and conversion rates.

Dynamic Content Creation

TeqNext generates dynamic content for websites, product descriptions, and promotional materials based on real-time data and trends.

This ensures that the marketing content remains relevant and up-to-date, reflecting the latest developments in the pharmaceutical industry.

Sales Script Generation 

TeqNext is trained on successful sales scripts, product information, and customer data to generate personalized sales scripts for sales representatives.

These scripts can be tailored to specific customer profiles, addressing their unique needs and concerns and improving the effectiveness of sales conversations.

Customer Engagement Strategies

TeqNext analyses customer data, including purchase history, feedback, and interactions, to generate personalized engagement strategies.

These strategies may include targeted cross-selling and upselling recommendations, loyalty programs, and targeted promotions, which improve customer retention and lifetime value.

Market Analysis and Trend Prediction  –

TeqNext understands market data, competitor information, and industry trends to generate insights and predictions about emerging market opportunities, potential challenges, and future trends.

These insights can inform marketing strategies, product positioning, and go-to-market plans.

Chatbots and Virtual Assistants 

TeqNext can be used to develop conversational chatbots and virtual assistants capable of engaging with customers, answering queries, and providing product information.

These chatbots can be integrated into various customer touchpoints, such as websites, mobile apps, and social media platforms, improving customer service and support.

Jas: That’s absolutely amazing to know, Aditya! I mean, the capabilities of TeqNext can really empower pharma commercial teams to do so much more. This is not just an incremental increase in productivity but a massive one. So, how do pharma companies discover this product? How do they check if it is a good fit for them?

Aditya: Great question, Jas – we are here to help pharma organizations share more details about our AI-powered, built-on Salesforce solution Teqfocus. If anyone watching this is interested in knowing more, please get in touch with our marketing team at the address below. 

Jas: That’s great Aditya – thanks for providing such valuable information about TeqNext and how AI is really the technology to accelerate growth in 2024 and beyond.

To our viewers, please let us know if you are using AI in your organization and what are your perspectives on the same. Subscribe to TeqTalk if you havent already – this is your host Jas Kaur signing off till the next episode.