Creating and Maintaining a Strategic KOL Management and Engagement System

Best Practices, LLC conducted this in-depth study to address the following key areas:

• Identify the most common and favored organizational structure for strategic TL management and engagement
• Understand the current state of TL management practices in the pharmaceutical industry
• Determine how TL management practices are evolving
• Identify innovative practices that are driving TL management success at other organizations

Study Snapshot

Thirty-four thought-leader management leaders from 29 biopharma and device organizations participated in the field survey, and we interviewed 4 for in-depth insights.

Key Findings

Strategic TL Management Structure: Most respondents believe a decentralized thought-leader management structure is not optimal, though almost 40% use a decentralized system now. Most view a hybrid or centralized structure (48 and 38%, respectively) as optimal for modern Thought Leader engagement.

• Medical Affairs Guides TL Engagement/ Strategy: 80% of companies said Medical Affairs oversees thought-leader engagement and strategy, but their structures do not support this. Only 31% say that Medical Affairs handles the administration of such programs. This represents a potential gap where priorities can become misaligned.
• Coordination of Strategic KOL Management and Engagement Activities: According to benchmark partners, effective communication between all stakeholders is the most effective way for coordinating KOL management across different functions.
• Most Valued KOL Activities: 87% of benchmark participants regarded Advisory boards as the most valued KOL activity and 77% consider scientific presentations to be valuable.
• Key Elements For Strategic KOL Management: Benchmark partners cited the key elements for strategic KOL management: System/internal platform, a coordinator or primary point of contact and a cross-functional team in each TA or BU that shares KOL interaction information with senior leadership.

• Research Overview
• Participating Companies
• Key Findings & Insights

• Participant's fucntional representation
• Structure of KOL management and engagement system in the organization
• Primary oversight function for strategic KOL management and engagement system
• Does organizations have separate KOL roles for strategy and relationships
• Job level for oversight role of strategic KOL management and engagement
• How organization's administer its strategic KOL management and engagement system?
• Coordination of strategic KOL management and engagement activities
• Software programs/products/systems to build and manage KOL relationships
• System for global line of sight on all KOL activities
• Importance of strategic approaches to identifying and managing KOLs
• Importance of KOL services
• Most valued KOL activities
• Evaluating success of strategic KOL management and engagement
• Feedback from KOLs on company interactions
• Top KOL values based on feedback
• Value of strategic KOL management and engagement work
• Strategic KOL management and engagement FTE
• Strategic KOL management and engagement career pathway
• Strategic KOL management and engagement career ladder steps