Maximising mature brand potential – top tips from CHASE
We recognise that Life Sciences brand teams are often busy working on new launches or accelerating the growth of recently launched brands. But, what about the mature brands in your portfolio? Could they benefit from a new perspective? Perhaps it’s time to show them some love?
At CHASE, our Brand Strategy and Management team is well versed in developing innovative solutions throughout the entirety of the brand lifecycle; this includes strategies and tactics to get the most out of mature brands.
1. Consider reviewing your portfolio to identify any un-locked potential
Conducting a thorough mature brands review can help to identify key market influences that may have changed since they were last actively promoted. Factors to consider can include:
- Changes in the standards of care and/or guidelines that impact brand potential.
- Treatable patient population shifts due to population size, diagnosis ability, new health service initiatives.
- Impact on the value proposition of your brand from (a) the trend for increased use of remote consultations (b) increased responsibility for non-medical prescribers.
If any market factors have changed, it is valuable to evaluate how much anticipated growth is achievable and what is needed to kick-start brand growth. This is something our CHASE team can support with. We have an expert working knowledge of UK quantitative and qualitative data sources, combined with a wide range of experience across several therapy areas and several brand situations.
2. Once a portfolio review has been completed, decide where and how to appropriately allocate budget & resource
Taking the decision to renew promotion on previously unpromoted brands can be a big step, especially when internal team resource is limited and ‘growth phase’ brands are the main commercial focus. It may be worth considering alternative support to ensure mature brands have their potential maximised:
- Outsourced management can be a good way to ensure your team has the time it needs to focus on the ‘growth’ brands, whilst still ensuing your total portfolio is maximised for revenue.
Our team has previous in-house pharmaceutical marketing and agency experience, so when our clients want us to move beyond advising, and manage the activity for a brand, we’re fully able to do this on a short- or longer-term basis.
3. Exploring flexible partnership models may be a way to maintain brand control, whilst maximising brand outputs
Sometimes, strategic shift or operational streamlining can mean that performance-based partnerships, such as ‘brand fostering’ provide a more effective solution for your mature brands. Our team at CHASE have the experience and solutions that can offer a more flexible approach to re-activating commercialisation, which can deliver several key benefits:
- High levels of expertise focused directly on your brand
- Full-suite operational & commercial set-up
- NHS insights & scalable resource
At CHASE, with our UK and established brands experience, we can help ensure you maximise the potential across your UK portfolio. Talk to us today about how we can work together by clicking here or contact us on 0131 553 6644.