In the highly competitive and regulated world of BioPharma and Consumer Healthcare, the stakes for a successful product launch are extraordinarily high. With substantial investments in research, development, and marketing, the pressure to deliver a successful launch can be immense. Yet, in the rush to move onto the next launch or major project, many companies overlook a critical step – conducting a thorough analysis at the end of their last launch.
We usually start the process of supporting clients with a new launch from speaking with people who have worked on the last couple of launches in the Organisation to understand their learnings, insights, and how the organisation approaches ‘launch’ versus ongoing Brand Management. This retrospective approach not only captures valuable insights, but normalises the great practice of open, honest, discussion about what could have been managed better and will be avoided in the future, vs what worked really well and should be repeated – setting the stage for future success.
When is the best time to conduct this post- launch analysis ?
From an internal ‘launch team performance’ perspective, this analysis should be conducted as soon as possible after launch, and actually, at various points throughout the launch preparation timeline so that teams are continually striving to work better and more efficiently together. From a launch uptake perspective, initial insight from the field, account teams, CRM and performance data should be reviewed as soon as it’s available. We know that launch trajectories are pretty much fixed (from 6 months in Biopharma to 6-12 months in Consumer Healthcare) so an in-depth ‘launch review’ / ‘launch close’ workshop 3 months after launch is a good investment of time. This gives teams time to make any tweaks or amends to launch strategy or materials within the 6-month window available to us for ‘course correction’.
Building your organisation’s launch library
Imagine then, the fantastic opportunity you have to add to your library of launch learnings with each new indication, medicine, SKU or Brand you bring to market Key areas to focus on in ‘launch close’ sessions include: Clinical and Market Performance Metrics: Evaluating KPIs such as market penetration, prescription rates, patient adherence, and overall sales performance provides a clear picture of initial uptake. Regulatory Feedback: Analysing feedback from regulatory bodies and member associations can help identify any compliance issues or areas for improvement in submission processes. Understanding these aspects is crucial for streamlining regulatory approvals in future launches. Forecast accuracy and stock availability: Valuable lessons can be learnt from reviewing how your launch forecasts were built, and how accurate these are proving to be in the first 3-6 months of launch. Healthcare Provider (HCP)and other stakeholder Feedback: Direct insights from healthcare providers, payers, patient organisations, charities can highlight the perceived benefits for patients / consumers based upon the key messaging. This feedback is vital for understanding how the launch is received in the real world. Internal Launch Team ways of working / Organisation launch capabilities: Gathering insights from the cross-functional team involved in the launch, can uncover procedural inefficiencies and highlight effective strategies worth repeating. Competitive Landscape: Reflect on how the launch has initially performed relative to previous competitor launches. Assessing market reactions and competitor strategies can inform future positioning and differentiation tactics.
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