Director of Market Research at Industry Standard Research Kate Hammeke explains why experiential data is more important to CMOs and Sponsors than perception-based data when determining service provider quality.
The change from perception-based data to experiential data is important because it shifts the focus of the awards from a CMO’s reputation — a product of marketing, public relations spin, and any “industry buzz” about a company known by professionals in the industry — to how a CMO has performed for its current and recent customers relative to their expectations. How well a CMO executed its contracted responsibilities for customers is valuable information when it comes to making informed CMO selection decisions, particularly because industry perceptions don’t always match reality.
Read more at Life Science Leader and learn about our experiential data-based CMO benchmarking here.
