CRM Evaluation: Understanding its Purpose, Importance, and Implementation
A concise guide, from CRM assessment to implementation, shaping the future of pharma and life sciences companies.
Customer Relationship Management (CRM) encompasses the technologies and strategies employed by organizations to effectively manage interactions with existing and prospective customers. A CRM system consolidates customer data, optimizes communication, and facilitates sales, marketing, and service operations.
In the pharmaceutical industry, CRM systems are used to manage relationships with:
- Healthcare professionals (HCPs)
- Hospitals and clinics
- Distributors and wholesalers
- Patients (in some B2C models)
CRM enables pharma companies to track interactions, ensure compliance, and personalize engagement across channels. As businesses expand and customer expectations rise, choosing the right CRM is essential. Transitioning from a legacy CRM system to a modern customer experience platform (CXP) is a strategic move that reflects the shift from transactional customer management to holistic, personalized engagement.
Why do life sciences companies need CRM assessment?
Life sciences companies face unique challenges such as regulatory compliance, complex stakeholder ecosystems, field force effectiveness, omnichannel engagement, and data-driven decision-making. Evaluating CRM systems ensures they meet these needs and support digital transformation. To elaborate:
System of records: Legacy CRM system functions as system of records and is not action-oriented to actively engage with customers.
Customer experience platform (CXP): Life sciences companies are undergoing a generational shift, transitioning from legacy CRM systems to robust CXP, to leverage personalization, customizations, and the latest AI-enabled solutions, to ensure compliance.
Unified engagements: Cohesive engagements across sales, marketing, medical and regulatory environments, leading to tailor-made omnichannel strategies and unified decision-making across divergent functions.
Termination of the Veeva and Salesforce partnership: As Veeva Systems split from Salesforce, pharma companies must evaluate and enhance their CRM strategies to stay ahead of the curve. The termination of the Veeva–Salesforce partnership in September 2025 is a major shift in the life sciences CRM landscape.
- Sep 2025: Formal separation, Veeva to stop renewing its partnership with Salesforce
- 2025-30: Wind-down period, companies can continue using Veeva CRM on Salesforce
- 2030: Companies will have to complete their transitions and fully adopt the target platforms
- Post 2030: Optimization of new systems
What is the value of CRM assessment in the life sciences industry?
CRM is a strategic asset and not just a tool. It can boost customer retention and loyalty, enhance sales productivity, enable personalized marketing, and offer actionable insights for decision-making. A CRM assessment offers multiple benefits.
- Product differentiation: Next-gen omnichannel platforms that unify HCP, patient, and payer interactions
- Market competitiveness: Leverage platforms with optimal customer experience capabilities to expedite the go-to-market strategy
- Future revenue models: Reduce the total cost of ownership (TCO) while migrating to the newer platform
- Operational efficiency: Optimize workflows and guide enterprises with platform adoption while minimizing customization
- Faster time-to-market: Accelerate product launches with scalable digital solutions
As customer expectations continue to rise, the demand for personalized and seamless experiences is increasing significantly. This trend necessitates the integration of data across various touchpoints to ensure consistency and accuracy. Furthermore, there is a notable shift towards digital-first engagement models, driven by the need for enhanced agility and scalability. Organizations must also navigate stringent data privacy regulations, making it essential to adapt and innovate in response to these evolving demands.
Executing a platform-agnostic CRM evaluation followed by the right CRM suite selection and adoption
Embarking on a thorough CRM assessment is an intricate and multifaceted task that demands a deep understanding of data management, CRM systems, and compliance requirements. It is crucial to acknowledge that a CRM evaluation cannot adhere to a one-size-fits-all methodology. Each platform has its unique strengths and weaknesses, and every organization comes with its own specific needs. Experts who maintain a platform-agnostic view are particularly skilled at navigating the complex nuances that align business objectives with platform capabilities, thereby optimizing overall efficiency and performance. Moreover, consultants with extensive experience across a diverse array of CRM applications are well-positioned to provide comprehensive insights and recommendations that transcend the limitations of any single program. These professionals are adept at tailoring their evaluations to the distinct needs of each organization, ensuring that the selected CRM platform not only meets but exceeds business expectations.
A phased approach to selecting and adopting the right CRM suite includes various parameters:
- Strategic fit and customization evaluation
- Assesses how well each CRM fits existing business processes
- Highlights areas needing customization vs. out-of-the-box solutions
- Ensures adaptability for future scalability and business growth
- Enhancing collaboration and stakeholder buy-In
- Involves cross-functional teams (sales, marketing, IT, finance) in the evaluation process
- Ensures all stakeholders understand the advantages and limitations of CRM options
- Facilitates smooth adoption and user acceptance post-implementation
- Risk mitigation and compliance adherence
- Identifies potential risks related to integration, security, and adoption challenges
- Ensures CRM meets industry compliance standards (GDPR, HIPAA, local regulations)
- Minimizes financial and operational risks linked to poor CRM selection
- Cost benefit calculation
- Provides a clear cost-benefit analysis, including licensing, implementation, and maintenance
- Avoids mistakes by choosing a scalable and financially sustainable CRM
- Objective and data-driven decision-making
- Eliminates bias by using standardized evaluation criteria
- Compares CRM platforms based on measurable performance indicators
- Ensures that the selection aligns with business goals and operational needs
Conclusion
The CRM assessment and implementation journey marks a pivotal step in transforming how life science companies engage with their customers, drive commercial excellence, and future-proof operations. With a new CRM platform in place, companies will be better positioned to deliver personalized, compliant, and impactful customer experiences and empower teams with real-time insights and automation and help them evolve continuously through innovation and feedback.
Key takeaways:
- Strategic alignment: CRM solution selection is based on a clear understanding of business goals, stakeholder needs, and industry-specific challenges
- Data-driven decision-making: A structured evaluation framework ensures an objective, evidence-based selection process
- Future-ready platform: The chosen CRM supports omnichannel engagement, regulatory compliance, and scalable growth
- Change enablement: A robust implementation plan, including training and change management, ensures high adoption and long-term success
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