Summary
In this episode of Driving the Business of Science, Keith Parent, CEO of Court Square Group, speaks with Arielle Smith, President of Life Sciences at Event Cadence about their event technology platform which supports medical conferences and Key Opinion Leader (KOL) engagement. They discuss the importance of in-person interactions and the evolving landscape of HCP (Healthcare Provider) engagement. Event Cadence’s Ensemble software facilitates omni-channel engagement, adapting to different company needs, from small startups to large pharma companies. The conversation emphasizes the value of personal connections and the future potential of KOLs reaching out to pharma companies.
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- Introduction to the Podcast and Participants
- Keith Parent introduces the podcast, explaining its purpose to explore areas within the life science vertical that he was previously unaware of.
- Keith introduces himself as the CEO of Court Square Group, a managed service provider for life science companies, and mentions their IT infrastructure management and various solutions like ARCC (Audit Ready Compliant Cloud), RegDocs365™, and the new pharmacovigilance (PV) module.
- Keith welcomes Arielle Smith, President of Life Sciences for Event Cadence, and expresses his fascination with their niche area of the industry.
- Arielle explains that Event Cadence specializes in event technology, starting in 2017 in the life science sector, and briefly mentions their expansion into other industries during the pandemic.
Overview of Event Cadence and Key Opinion Leaders (KOLs)
- Arielle elaborates on Event Cadence’s core focus on healthcare, pharmaceutical, and life sciences, and their evolution to meet client needs.
- Keith asks Arielle to explain what a Key Opinion Leader (KOL) is, and Arielle defines it as a healthcare provider (HCP) who is introduced to pharma accounts as a customer.
- Arielle explains the importance of KOLs in the pharmaceutical industry, emphasizing that many doctors listen to other doctors, making KOLs influential in drug use and patient care.
- Keith and Arielle discuss the significance of healthcare congresses and the various therapeutic areas they cover, highlighting the role of KOLs in these gatherings.
Medical Conferences and Their Importance
- Arielle describes medical conferences as large gatherings for knowledge sharing and networking, involving healthcare practitioners, third-party agencies, and pharmaceutical companies.
- Keith inquires about the size of companies attending these conferences, and Arielle explains that it ranges from startups to large pharma companies.
- Arielle provides an example of the ASCO conference, the largest oncology conference in America, with around 40,000 attendees and a wide range of booth sizes.
Opportunities for Better Engagement and Connection
- Arielle explains Event Cadence’s all-in-one medical congress solution, which helps pharmaceutical companies manage their presence at conferences.
- Arielle introduces the concept of the KOL journey and the KOL lifecycle, highlighting the need for better engagement and connection between pharma companies and KOLs.
- Arielle discusses the white space between engagements, emphasizing the importance of capturing all touchpoints to maximize the next interaction with KOLs.
- Keith and Arielle explore the idea of omni-channel engagement, which involves multiple touchpoints like email, phone, face-to-face meetings, and social media.
Ensemble Software and Its Unique Features
- Arielle introduces Ensemble, Event Cadence’s feature set, which connects various touchpoints and meetings.
- Arielle explains that Ensemble’s adaptability sets it apart from other solutions, as it can be tailored to meet the specific needs of different accounts and therapeutic areas.
- Keith asks about the strategy for selling to small startups versus large pharma companies, and Arielle explains the different logistical and relationship challenges each faces.
- Arielle highlights the importance of understanding how companies already engage with KOLs and tailoring the solution accordingly, whether for small startups or large pharma companies.
Future of HCP Involvement and Engagement
- Keith and Arielle discuss the future of HCP involvement and engagement, with Arielle emphasizing the need for autonomy and flexibility for KOLs.
- Arielle suggests that KOLs should have the ability to reach out to pharma companies, reversing the traditional approach where pharma reaches out to KOLs.
- Keith reflects on the evolving landscape of HCP engagement, noting the increasing use of social media and other digital avenues for information.
- Arielle agrees, noting the generational shift in HCP preferences and the importance of in-person interactions for building trust and connections.
Conclusion and Final Thoughts
- Keith expresses his excitement about learning more about Event Cadence and its niche area in the life science industry.
- Arielle encourages listeners to reach out and share their perspectives, emphasizing Event Cadence’s commitment to continuous evolution and improvement.
- Keith thanks Arielle for the insightful conversation and concludes the podcast, inviting listeners to explore more areas of the life science world.