Each year, poorly performing sites cost sponsors and CROs billions of dollars. Sponsors and CROs are adjusting strategies to solve this problem, including improving their site selection processes. As a result, to win studies, your site must now show that it’s not only easy to work with, but also a money-saving solution.
Demonstrated success is the key to building such a relationship. After all, the best predictor of future performance is past performance. To highlight your site’s accomplishments, you need a data-driven strategy. By capturing key metrics, you can use data to tell a winning story that gains more studies. Follow these three steps to get started.
When tracking site metrics, your ultimate goal should be to leverage this data wherever appropriate, internally or externally, to help better your business. To do this, you need to set baseline expectations and benchmarks. However, you also need to outline why you captured those specific metrics in the first place. These reasons don’t need to be complex.
For instance, you could simply ask your sponsor and CRO contacts what site performance metrics they want: trials completed, patients screened, etc. Or you may simply wish to assess your administrative (e.g., contract turnaround times) or business development operations (e.g., past performance by sponsor and/or CRO). Whatever the reason, understanding it will help you position the data effectively.
Data-tracking solutions can be simple to implement—for instance, your site can use spreadsheets or other documentation based on its current procedures. CRM and CTMS software are better choices. Still, the best option is a dedicated metrics tracking platform that automatically captures metrics when milestones are completed.
This is important from a staff buy-in perspective. If your solution is not easy to use—and its reports are hard to generate—your implementation will not be successful. To support your staff, select an option that works for them (ask for their help!), communicate your metrics goals, and then create or modify existing SOPs (standard operating procedures) to reinforce this directive.
Good data is your best sales rep. So, once you’ve captured your metrics, it’s time to showcase them. Consider each external interaction an opportunity to highlight your proof points. That includes digital messages (newsletters, email, website, etc.), as well as in-person conversations (conferences, trade shows, investigator meetings, etc.). Let the data demonstrate your predictability and reliability.
You have limited interactions with sponsors and CROs before they select sites for a study, so whatever data you can use to create a favorable impression will help you stand out. And if your metrics aren’t quite where you want them to be, you can overcome it. Use them to outline changes and progress you’ve made, and ask sponsors or CROs for feedback. The data may not be impressive initially, but the transparency will be—and that’s a winning story, too.
Learn more about the ways your site can benefit from and improve its metric tracking with this webinar from our CTMS Resources series.