Case Studies Dyax Gains a Foundation for Multichannel Customer Engagement in the Cloud

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	Dyax Gains a Foundation for Multichannel Customer Engagement in the Cloud

Dyax Gains a Foundation for Multichannel Customer Engagement in the Cloud

Technology Category	Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries	Healthcare & Hospitals Life Sciences
Applicable Functions	Sales & Marketing Business Operation
Services	Cloud Planning, Design & Implementation Services Data Science Services
Challenge	Dyax Corporation, a Massachusetts-based biopharmaceutical company, was struggling to accurately identify and engage key customer segments across channels due to rapidly changing healthcare professional (HCP) and healthcare organization (HCO) information. The company's field representatives were updating HCP data directly in the company’s CRM system, which resulted in duplicate accounts, outdated information, and reps spending their time sorting out inconsistencies prior to meeting with HCPs. Dyax had 2,000 duplicate or incomplete HCO records representing more than 15% of targeted accounts, several hundred duplicate HCP records, thousands of missing phone numbers and addresses, and few unique identifiers like NPI numbers. The company wanted an innovative way to get accurate customer data quickly, without the cost and complexity of traditional master data management (MDM) tools. Read More
About Customer	Dyax Corporation is a Massachusetts-based biopharmaceutical company that aims to discover, develop, and commercialize innovative biopharmaceuticals for unmet medical needs, with an emphasis on inflammatory indications. The company utilizes its proprietary drug discovery technology, phage display, to identify antibody, small protein, and peptide compounds for clinical development. Dyax also leverages this technology broadly with over 70 licenses and collaborations for therapeutic discovery, as well as in noncore areas such as affinity separations, diagnostic imaging, and research reagents. Across all areas, Dyax’s work is driven by one unifying factor: the needs of patients. Read More
Solution	To create the master data foundation necessary for multichannel customer engagement, Dyax selected Veeva Network, a cloud-based customer master solution offering a global customer master application, HCP and HCO reference data, and stewardship services. The company was able to improve the quality of data and speed of updates without increasing its support staff. Concurrently with the Network implementation, the company capitalized on the interoperability of Veeva’s Commercial Cloud, enabling multichannel customer engagement with Veeva CRM Approved Email. Fueled with compliant content through Veeva Vault PromoMats for promotional content management, Approved Email allows Dyax’s reps to engage HCPs via email. All interactions across channels are tracked in Veeva CRM, giving Dyax deep insight into customer behavior and preferences. Read More Log in to view content
Contents

Technology Category

Platform as a Service (PaaS) - Data Management Platforms

Applicable Industries

Healthcare & Hospitals

Life Sciences

Applicable Functions

Sales & Marketing

Business Operation

Services

Cloud Planning, Design & Implementation Services

Data Science Services

Challenge

Dyax Corporation, a Massachusetts-based biopharmaceutical company, was struggling to accurately identify and engage key customer segments across channels due to rapidly changing healthcare professional (HCP) and healthcare organization (HCO) information. The company's field representatives were updating HCP data directly in the company’s CRM system, which resulted in duplicate accounts, outdated information, and reps spending their time sorting out inconsistencies prior to meeting with HCPs. Dyax had 2,000 duplicate or incomplete HCO records representing more than 15% of targeted accounts, several hundred duplicate HCP records, thousands of missing phone numbers and addresses, and few unique identifiers like NPI numbers. The company wanted an innovative way to get accurate customer data quickly, without the cost and complexity of traditional master data management (MDM) tools.

About Customer

Dyax Corporation is a Massachusetts-based biopharmaceutical company that aims to discover, develop, and commercialize innovative biopharmaceuticals for unmet medical needs, with an emphasis on inflammatory indications. The company utilizes its proprietary drug discovery technology, phage display, to identify antibody, small protein, and peptide compounds for clinical development. Dyax also leverages this technology broadly with over 70 licenses and collaborations for therapeutic discovery, as well as in noncore areas such as affinity separations, diagnostic imaging, and research reagents. Across all areas, Dyax’s work is driven by one unifying factor: the needs of patients.

Solution

To create the master data foundation necessary for multichannel customer engagement, Dyax selected Veeva Network, a cloud-based customer master solution offering a global customer master application, HCP and HCO reference data, and stewardship services. The company was able to improve the quality of data and speed of updates without increasing its support staff. Concurrently with the Network implementation, the company capitalized on the interoperability of Veeva’s Commercial Cloud, enabling multichannel customer engagement with Veeva CRM Approved Email. Fueled with compliant content through Veeva Vault PromoMats for promotional content management, Approved Email allows Dyax’s reps to engage HCPs via email. All interactions across channels are tracked in Veeva CRM, giving Dyax deep insight into customer behavior and preferences.

Impact #1	Dyax gained instant access to over 14,000 HCP/HCO records, 57,000 street addresses, and 6,000 email addresses in Network that it previously didn’t have.
Impact #2	All incomplete or duplicate records within Dyax’s database have been eliminated, enabling the company to leverage full customer profiles including specialties, primary parent, degrees, and other identifiers such as NPI number and state license information, required for compliant reporting and better outreach.
Impact #3	Field representatives are reducing call prep time and improving customer engagement with more current data.

Impact #1

Dyax gained instant access to over 14,000 HCP/HCO records, 57,000 street addresses, and 6,000 email addresses in Network that it previously didn’t have.

Impact #2

All incomplete or duplicate records within Dyax’s database have been eliminated, enabling the company to leverage full customer profiles including specialties, primary parent, degrees, and other identifiers such as NPI number and state license information, required for compliant reporting and better outreach.

Impact #3

Field representatives are reducing call prep time and improving customer engagement with more current data.

Benefit #1	In just a few months, each rep had submitted an average of 65 data change requests through Network, resulting in 385 updated accounts, 364 new accounts, and 509 new or updated addresses.
Benefit #2	Within two months of using Veeva CRM Approved Email, Dyax saw open rates of over 35% – a figure that has grown to 40% and is as high as 46% for certain email templates.

Benefit #1

In just a few months, each rep had submitted an average of 65 data change requests through Network, resulting in 385 updated accounts, 364 new accounts, and 509 new or updated addresses.

Benefit #2

Within two months of using Veeva CRM Approved Email, Dyax saw open rates of over 35% – a figure that has grown to 40% and is as high as 46% for certain email templates.

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Overview

Dyax Gains a Foundation for Multichannel Customer Engagement in the Cloud

Operational Impact

Quantitative Benefit