When an existing client or new client calls me about key opinion leader (KOL) or Key External Expert (KEE) Identification, they have a purpose in mind for conducting this research. These are some of my favorite client discussions because they are usually with strategic individuals looking to solve internal challenges. After discussing some of the key advantages of conducting a study, they recognize that others in their organization might also have a need for the results. This asset can be very helpful to medical directors, pharmaceutical marketers, new product planners, business developers, and even sales leadership. And there are some patterns in use that we tend to hear about most often. I will share 3 of the most common ways our clients can leverage insights from the KOL identification studies that Vision2Voice has conducted on their behalf:
1) Phase 2 and 3 Program Development by Medical Directors
When determining the value of a program in development, the best KOLs are going to be the most “in-the-know” on how to guide you on continuing with your program. The holy grail is to find therapeutic experts who understand your specific therapeutic area down to the level of knowing the scientific literature in an extremely precise manner. These experts should understand the competitive landscape and have an open ear to what the market really needs. These individuals have razor sharp insights. They can thin-slice on strategic planning in 1 particular area but are not likely to overstep their expertise in another.
Finding these KOLs is critical to making decisions on strengths, weaknesses, opportunities, and threats because they will advise you early on in the process if the product should move forward. They will recognize the benefits to patients compared with what is currently available, as well as a product’s potential potential pitfalls. These KOLs will frequently serve as consultants for advisory boards, steering committees, or even one-on-one discussions. They can help you make quick and logical decisions on behalf of your program and/or clinical trials.
2) Building a Speaker’s Bureau by Pharmaceutical Marketers
During phase 3 of the approval process and prior to launch, building a speaker’s bureau is a fundamental aspect to building a world-class educational initiative. Creating a program designed to educate via fellow peers does wonders for developing a product rich in complexities and provides effective communication on efficacy, safety, tolerability, dosing, and market access.
There are typically 2 ways in which most organizations develop a speaker’s bureau: (1) using previous internal speaker’s lists or (2) building off a list from medical science liaisons (MSLs). Both tactics will leave you with a less than desirable bureau because you will have a group of individuals who are willing to work with industry but are not necessarily considered an expert or KOL by their fellow peers.
When clients build speakers’ bureaus in this way, they don’t create the best version of their bureau. In fact, an analysis showed us that 40 to 50% of speakers in multiple bureaus did not meet the high standards found in our identification studies. This is valuable information because not having a well-respected bureau will reduce attendance and the reputation of your speaker events and your product. When conducting a study, you will need to obtain ranked lists of experts who’ve been involved specifically in your therapeutic area.
3) Validating That Existing Speakers or Advisors Are Truly Experts by Marketing or Legal/Compliance
True experts can be validated from a KOL identification study by reviewing their publication history, clinical trials, guidelines involvement, association memberships, speaking experience, and digital success. Things will change over time. The KOLs in diabetes are not the same today as 10 years ago. KOLs in breast cancer can shift in less than 5 years. The bureau you thought you had might be different today, especially when it comes to including digital KOLs, known as digital opinion leaders (DOLs).
Conducting a KOL identification study to gather the most relevant experts allows you to analyze the individuals in your bureau. For some companies, this is a requirement of their legal and compliance teams. Like you, they want to ensure that speakers participate on the bureau for the right reasons. Completing this type of study can help you ensure that you have the right advisors and speakers. It will often require pruning—and even new requirements to right-size your bureau.
No matter what therapeutic area you are dedicated to, KOLs or speaker experts will evolve over time. Consider a KOL identification study to help you maintain a group of the most relevant experts in your therapeutic field. If you’d like to sit down and discuss KOL ID strategies for your brand, please Contact Us.
Also make sure to check out our brand new white paper on KOL Engagement!
