October 26, 2020

How Life Science Companies Create Value with Virtual Engagement

Engaging stakeholders online reduces costs, but internal teams can also save time, reduce workload, and make faster decisions.

The cost savings possible with virtual meetings as compared to face-to-face events are well known. When business travel was curtailed due to COVID-19, reduced costs were a given – but what other benefits did life science teams see when they went virtual?

As with most digital transformation efforts, reduced costs are just one benefit of virtual engagement. Teams not only save money, but have the opportunity to create value by shortening the planning cycle, reducing internal workload, and shortening the time between capturing insight and taking action.

Plan and execute up to 12x faster

Planning is time-consuming, and internal hours spent on logistical tasks can add up quickly. Life science teams that work with our client success organization to plan their virtual sessions report that they can execute their programs up to 12 times faster. Rather than taking months to plan, Within3 sessions can be launched in just a few days. And while saving time is a benefit, the added agility is even more meaningful – teams can react quickly to current events, the competitive landscape, new data, or other factors, resulting in more valuable insight.

Reduce team workload by up to 25%

Planning live meetings requires hours of internal time to recruit advisors, manage logistics, create content, and communicate with leadership. Post-meeting, teams might spend time reviewing notes or recordings to create a summary of what happened – or worse, try to recreate impressions based on recall.

All of these tasks eat up time that could be spent focusing on core business objectives. Within3 meetings eliminate many logistical factors, and advisors are automatically reminded to register, sign in, and contribute to the discussion. All communication within the session is recorded in a written transcript available when the session concludes.

From insight to action 4x faster

Typical meetings require anywhere from four to six weeks for follow-up, transcription, clarification, and development of action plans. Within3 clients can begin considering insights as soon as meeting participants begin contributing or responding to questions, and report that they can develop action plans within a week of completing a session.

The ability to cut costs is always a benefit, but value creation offers more opportunity. By saving time, allowing staff to focus on key objectives, and accelerating time to insight, life science teams can design more successful clinical trials, bring products to market more quickly, and engage more thoughtfully with stakeholders.

A medical affairs team saved weeks of time on internal discussion and alignment by holding an internal training advisory board on the Within3 platform. Read the customer success story.