Tuesday, December 06, 2011

4 principles of N-of-8® applied to “advisory boards”

I continue to promote the principles of N-of-8® to the ubiquitous tactic of “advisory boards.”  

That means demonstrating how the tool can be use to identify the right advisors, maintain a practice focus, create an agenda, and produce actionable results.

  1. Advisor relationships are based on science, mutual collaboration, and engagement.  They tend to evolve over time.
  2. When creating N-of-8 Advisory Boards, recruit both “opinion leaders” and “practice leaders.”
  3. Instead of just asking for reaction, you should use N-of-8 to create a forum for insight and advice.
  4. When facilitating an N-of-8, move from the “should do” to gain agreement on the “let’s do.”

The N-of-8 interaction process with thought leaders is different than the immediate, transactional tactics used on the commercial side of a company.  Instead, it builds on relationships based on science, mutual collaboration, and engagement.  These tend to evolve over longer periods of time than interactions with inline brands.

Because an N-of-8 advisory board is not a sales event, it must be assessed more like you’d assess a focus group—by number of positive reactions.  Yet, it can help a brand innovation team address the challenge of creating, maintaining, and leveraging those positive reactions  -- and still safely navigate regulatory hurdles.

Thought leaders will continue to be a critical component of a bio-pharma company’s professional marketing and medical strategy.  Therefore, we must maximize their impact in diffusing innovation and disseminating scientific information. 

Life science brand executives can rely on the N-of-8 tool for this goal.

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