BRAND FOSTERING: INNOVATIVE PARTNERSHIP
On the desk of many CEOs and directors of business development, the following equation waits to be successfully resolved:
How can we focus fully on innovation, when at the same time we have to consolidate (or increase) sales by maximizing assets, maintaining high entry barriers to competitors, but, simultaneously, with a significant reduction in expenses and headcounts?
The best approaches to the solution to date have been creative but rather incomplete, as some of the key parameters have not been successfully addressed. Two especially sensitive parameters that always generate uncertainty in decision-making are:
- Proposals always come with too many associated new costs right at the outset.
- There are insufficient opportunities to maximize results across the whole product portfolio.
The solution was not far away, but it required a look at the problem from both inside and outside. The first was to be inspired by the most innovative approaches in terms of access, such as payment for results, risk sharing and sustainable fair profit… but apply them not only to the relationship with the administration, but also with partners and strategic suppliers.
And also, looking around the world to find solutions in very dynamic markets (such as the Anglo-Saxon mass-consumption), a new disruptive model emerged: Brand Fostering within healthcare.
No doubt for many this is the moment many will pause reading this article and go to google and search the concept. These are the key responses they will find or will have found:
- Promotion “on behalf” or copromotion.
- Payment based solely on incremental sales linked to milestones, against a pre-agreed baseline.
- Breathing new life into brands.
- Much improved portfolio management.
- Exclusive promotion or shared promotion with non-competing products.
- Support in marketing and distribution.
- Creation and reinforcement of entry barriers.
- Protection for existing workforce and, consequently, safeguarding and growing company “know-how”.
All these characteristics are in themselves very different and important, but in our opinion the Fostering that will triumph, the one which will bring results not seen to date, will be the one which adds the following value:
- Hyperspecializacion in the target therapeutic area.
- Zero real cost for the brand owner.
- Shared investment in tactical actions.
- Excellent relation with opinion leaders, scientific societies and patient associations, in private medicine as well as in the public sector.
- Expertise also in areas strategy, business intelligence y medicine.
- Being extremely agile in the execution of action plans, but equally with a deep knowledge of the culture and processes of multinational companies.
- And, above all, backed by a reliable and cohesive team of outstanding senior professionals with demonstrable experience in making a difference.
It is with this conviction and clear roadmap that we have created IE4 Lab “Fostering Neuroscience”, an innovative laboratory offering a commercial partnership service based on Fostering. Our value contribution is measured by an incremental increase in sales against a baseline agreed jointly with the owner of the brand.
IE4 Lab has a commercial, medical, business intelligence and expert marketing team in the Central Nervous System, and was born with the aim of becoming the go-to partner in this therapeutic area both for the launch and the relaunch and extension of the life-cycle of medicines and medical devices.
To all this we can add our contribution in terms of strategic and tactical recommendations, as well as an in-depth market analysis to identify new levers and business opportunities.
Oh, and a project based on its human capital could not close the first article without a special mention to each and every one of those individuals, the authentic architects of the results, who are working so effectively with the companies that already place their trust in us and our innovative business proposition .