Customer Research on Healthcare Costs
A private equity firm used Catalant to access an healthcare expert to conduct efficient customer research.
An in-depth understanding of customer segments and preferences is an essential input to optimizing a company’s sales strategy. However, conducting customer research is time consuming and expensive and requires a nuanced understanding of the industry. In an effort to better understand a portfolio company’s referral base of healthcare providers and opportunities to grow sales within them, a private equity firm turned to Catalant’s expert network for support
Conducting customer research is time consuming and expensive and requires a nuanced understanding of the industry.
The client chose to work with Deepa, a medical doctor and former Bain consultant with over 10 years of experience developing and leading key strategic and growth initiatives in the life sciences and healthcare sectors.
Deepa’s direct experience conducting interviews with healthcare providers and administrators allowed her to get up to speed quickly and provided immediate credibility with interviewees.
After an initial meeting with the senior management team to align on objectives, Deepa developed and conducted an interview program targeting key decision-makers at a prioritized list of third party administrators and health maintenance organizations. Deepa’s deep industry expertise combined with her strategy consulting experience allowed her serve as a thought partner to the Principal leading the initiative, drawing out implications of the research and providing actionable insights to the business.
In two weeks, Deepa conducted 14 customer interviews, synthesized findings, and Deepa developed a sales and marketing plan that was presented to the company’s Board of Directors. Her research identified commercial opportunities for the company to grow sales of its existing offerings as well as other new products to address customer needs. Additionally, her in-depth interviews surfaced valuable feedback on the field sales team’s performance, which Deepa shared with the CEO to inform the redesigned sales training program.
Deepa developed a sales and marketing plan that was presented to the company’s Board of Directors.
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