JINGdigital Files IPO Prospectus: Empowering Pharma Companies with Omnichannel Marketing Automation for Cost Reduction and Efficiency Enhancement

In recent years, whether due to policy changes, the pandemic, or intensifying market competition, the traditional pharmaceutical industry has faced significant challenges.

On one hand, due to factors such as the impact of the pandemic, rising cost pressures, and the continuous introduction of new policies and regulations, the traditional pharmaceutical industry’s marketing model—primarily reliant on medical representative visits—has faced certain challenges. On the other hand, digital technologies have brought infinite possibilities to pharmaceutical marketing, emerging as a major new direction for exploration and experimentation by pharmaceutical companies.

Hong Kai, Chairman & CEO of Jingshuo TechnologyIt is believed that, against this backdrop, it is particularly important to leverage marketing automation tools to establish a closed-loop marketing system for enterprises, encompassing lead generation and customer acquisition, channel enablement, prospect nurturing, sales follow-up, and e-commerce purchase conversion.

JINGdigital is a marketing technology company,Help B2B enterprises acquire potential customers, nurture leads, and empower sales by building an integrated marketing technology platform., and through the long-term support of the customer success team, achieve substantial revenue growth for enterprises.

Hong Kai, Chairman & CEO of Jingshuo Technology, brings over 20 years of experience in strategy, marketing, management, and entrepreneurship. He has previously worked at Siemens and Bain & Company, served as Senior Vice President for Cisco China, and founded Capvision Group, the largest expert network in the Asia-Pacific region, as well as Baby Map, a social e-commerce platform focused on K-5 holistic education. Hong Kai holds an MBA from the Wharton School, a Master’s degree in International Relations from the University of Pennsylvania, and a Master’s degree in Engineering from RWTH Aachen University in Germany.

According to Hong Kai, around 2014, WeChat Official Accounts opened their APIs to third-party platforms. At that time, with marketing costs for traditional customer acquisition remaining prohibitively high, the WeChat ecosystem became the premier choice for customer acquisition and conversion in the broader health sector, including pharmaceuticals, medical devices, and life sciences. This trend spurred demand among enterprises for data tracking and processing of their follower bases, giving rise to Jingshuo Technology’s initial business model.

Initially, Jingshuo Technology provided services to B2C enterprises, enabling personalized engagement based on diverse user attributes. “At that time, a large number of companies began leveraging WeChat Official Accounts as a channel for communication with potential customers and distributors. However, in terms of marketing efficiency, these enterprises often lacked the data infrastructure necessary for measurement. Therefore, Jingshuo Technology entered the market from the perspective of user data, offering user profiling and performance tracking.”Hong Kai recalled.

“Once enterprises have accumulated a certain amount of user insight data, they begin to consider whether further user interactions can create commercial value.”

However, the team found that consumer brands are primarily driven by advertising, traffic acquisition, and monetization, with relatively little investment in incubation. In contrast, Jingshuo Technology’s marketing technology aims to enhance conversion efficiency.

Furthermore, demand in the B2C sector is often highly fragmented, necessitating extensive custom development. This poses challenges for software enterprises in terms of cost efficiency and scalability.

Upon recognizing this, Jingshuo Technology promptly refined its market positioning. Starting in 2019, it gradually shifted its focus to industries characterized by higher average transaction values and certain incubation periods, dedicating itself to providing software and services to B2B enterprises in sectors such as high-tech, manufacturing, life sciences, pharmaceuticals, chemicals, medical devices, general health, semiconductors, and third-party service providers. Thanks to this timely strategic adjustment, Jingshuo Technology’s B2B business has experienced rapid growth since the second half of 2020.

To date, Jingshuo Technology has served approximately 500 well-known brand clients both domestically and internationally, spanning the aforementioned industries, by providing them with industry-leading digital transformation technical support.

Hong Kai believes that, for pharmaceutical companies, the centralized drug procurement and the DRG-based medical insurance payment system have significantly compressed profit margins, making it difficult to sustain large sales teams. Sales teams must maintain their service levels while expanding sales territories, increasing service offerings, and keeping team sizes unchanged or even reducing them.

Secondly, with the implementation of the tiered diagnosis and treatment system, medical institutions in second-, third-, and fourth-tier cities will take on more patients and provide medical services, leading pharmaceutical companies' sales teams to engage with HCOs (Medical and Health Institutions), serving more HCPs (Healthcare Professionals)）, pharmaceutical representatives must allocate their time and energy more efficiently.

Finally, as economic benefits decline and profit margins are squeezed, there is an urgent need to improve the efficiency of medical representatives, enabling them to master more product knowledge and sell a wider range of pharmaceuticals.

Furthermore, factors such as the advancement of digitalization, increasingly stringent compliance requirements, and the growing youthfulness of the physician workforce are continuously driving the digital transformation of pharmaceutical marketing.

Against this backdrop, Jingshuo Technology focuses on three key dimensions to provide pharmaceutical companies with integrated marketing and sales solutions, leveraging data to multiply the efficiency of their marketing teams.

First, the marketing automation product JINGlead addresses the challenge of personalized outreach through three dimensions: data insights, precision marketing, and HCP engagement systems.In terms of data insights, intelligent reporting enables management teams to grasp market trends and HCP interests and preferences, allowing for timely adjustments to marketing strategies. In the realm of precision marketing, multi-format academic marketing precisely delivers academic content, shaping HCPs’ diagnostic and treatment concepts and cultivating their prescription habits. Furthermore, through an HCP engagement system, the company integrates its proprietary marketing platform with third-party platforms.

“Empowering the marketing department with control over all digital touchpoints and establishing a behavioral tagging system for users or potential customers across the company’s official website, WeChat, and mini-programs, with real-time synchronization to sales teams or medical representatives, can significantly enhance personalized outreach and marketing efficiency,” explained Hong Kai.

Second, sales automation product JINGsalesBy leveraging AI to identify business opportunities, the system automatically alerts sales representatives to engage with healthcare professionals (HCPs) in a timely manner and intelligently recommends talking points and communication themes. The integrated tool enables sales representatives or medical representatives to access HCP lists and profiles at any time, while the backend pushes HCP engagement tasks and suggested scripts. Management teams can monitor sales-HCP interactions through data reports, keeping abreast of team progress and adjusting task assignments as needed.

Hong Kai stated, “This product addresses the standardization and optimization of enterprise sales talent. Apart from a small segment of exceptional sales professionals, enterprises can leverage sales automation methods—such as defining marketing tasks and automatically recommending scripts and sales strategies—to utilize data for elevating the performance level of average sales personnel.”

Third is the data middle platform JINGIDXP, integrates first-party and third-party data from pharmaceutical companies to build 360-degree HCP profiles through omnichannel capture of HCP engagement behaviors; leverages AI algorithms such as deep learning, natural language processing, and federated learning to generate business opportunity insights.

“Data middle platform is the foundation of everything. As digitalization intensifies, the touchpoints through which enterprise users receive information are becoming increasingly diverse. The role of a data middle platform is to centrally manage behavioral data generated by each user across all channels.”

As for how to achieve precise user profiling, Hong Kai stated: “The first thing it tests isData Scraping and Tracking Capabilities, secondly,Whether the system itself is sufficiently flexible and capable of establishing a precise tagging framework, and finallyAlgorithm Support"Unlike the single-dimension assessment in B2C, the B2B industry requires multi-dimensional intelligent judgment. For instance, by using algorithms to integrate multi-dimensional information about an individual—such as their role, whether they belong to the target audience, and the potential business opportunities they can bring—enterprises can better determine their importance and optimal engagement strategies, which is critically important."

In Hong Kai’s view, the pharmaceutical industry is a highly distinctive sector compared to other industries. First, it faces stricter compliance requirements than any other industry. Second, pharmaceutical companies cannot sell drugs directly to physicians, which fundamentally shapes a different marketing landscape.

By establishing a data middle platform, pharmaceutical companies can achieve compliant, personalized engagement with physicians, thereby enhancing brand and key product awareness. Meanwhile, leveraging sales automation improves the efficiency and productivity of medical representatives. This approach effectively addresses the business challenges faced by pharmaceutical enterprises and is poised to deliver substantial economic value over the next three to five years.

To date, Jingshuo Technology has served nearly 500 corporate clients, and Hong Kai hopes to increase this number to 2,000 by next year. Discussing future plans, he stated that in the short term, Jingshuo Technology will help more enterprises achieve digital marketing and gradually deepen market education, enabling more companies to recognize the value of marketing assets. Meanwhile, by leveraging marketing data, the company aims to integrate marketing, sales, and service processes, achieving an integrated marketing-service model and allowing data to serve various departments within enterprises.

In the long run, Hong Kai believes that against the backdrop of intensifying competition, rising traffic acquisition costs, and increasing labor expenses, enterprises urgently need to enhance the efficiency of their marketing operations. Accumulating data assets can improve the conversion rate of sales leads, boost the efficiency of sales teams, and deliver value through customer lifecycle management services. Currently, there are approximately one million medium-to-large enterprises in China, and Jingshuo Technology aims to become a standard marketing service provider for such companies in the future.

“Marketing automation emerged abroad as early as 2004. Foreign pharmaceutical companies began exploring digital marketing at an early stage and established dedicated digital marketing departments. In contrast to foreign markets, while China’s B2C enterprises are highly competitive, the majority of Chinese B2B enterprises remain in the early stages of marketing development. Particularly amid the current macroeconomic landscape, businesses face intensifying competitive pressures. We aim to help more Chinese B2B enterprises undergo digital transformation in marketing and enhance their competitiveness through marketing technology,” said Hong Kai.