Better Advisory Boards: The Economic Working Group
Nearly all manufacturers sponsor live advisory meetings for their key managed market customers. These programs may focus on specific brands and the conditions they treat, or they may explore corporate issues and initiatives that cut across product categories. Increasingly, however, companies question the effectiveness of these advisory programs. Many of the most important accounts restrict their staff from attending, and the dominant meeting format – facilitated qualitative discussion – is showing its limitations.
At The Zitter Group, we believe that advisory boards can – and should – be better. Our novel approach helps our clients forge long-term relationships with key customers, and ensures that outputs have impact. This approach has several key components:
- Ongoing commitment. A one-time advisory board can be useful,
but too often half the time is spent detailing the product. Too much presenting,
and not enough listening. By enlisting advisers in a multi-meeting commitment,
our clients can spend time upfront educating participants about their products.
Thereafter, the time can be spent on issues that generate deeper, more actionable
insights. Even more important, over time the participants develop a commitment
to and trust of the client, and one another, which enhances their candor.
- Interdisciplinary format. We include not only managed care decision
makers but also employers, academic thought leaders, practicing physicians,
health economists, and other individuals with valuable viewpoints. Even if
MCO managers make up 75%-80% of the group, the inclusion of other perspectives
typically enhances the insight generated and provides a much richer sense
of the market.
- Innovative content. Adult learners are most likely to grasp
and retain – and enjoy – material that they interact with in
some way, such as discussions, case studies, role plays, or calculations.
We vary the standard focus group format and include more interactive elements
to optimize the feedback generated for a given issue. We make heavy use of
electronic polling technology in order to gain input from all advisors and
increase candor. For sensitive issues, we have advisors write their confidential
responses to preprinted questions. Break-out groups, exercises, and debates
add even more richness and ensure participant engagement.
- Web-based meetings. In addition to live meetings, quarterly or semi-annual web-based meetings provide additional touch points at relatively low cost. Having your advisory committee touch base every few months on the web ensures their ongoing commitment and provides clients with additional feedback on ongoing activities.
Live advisory meetings remain an important tool for enhancing success within managed markets, but the traditional one-time, homogeneous advisory board moderated in focus-group format is increasingly ineffective. The Zitter Group’s “smart” programs that incorporate new techniques and technologies deliver real value for our clients.
Want to find out what The Zitter Group can do for your meetings? Contact contact@zitter.com.