Sales Force Effectiveness

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$Matt Witte\'s CBI Presentation on Building "Hybrid" CSO Sales Forces$ $Matt Witte\'s CBI Presentation on Building "Hybrid" CSO Sales Forces$

Matt Witte\'s CBI Presentation on Building "Hybrid" CSO Sales Forces

Matthew Witte

This paper looks at two search components (from an optimisation perspective and a pharama compliance perspective) that are publicly visible in search engine results: the ‘Title Tag’ and the ‘Description Tag’. Search results are important because they are the first piece of information a person sees before clicking and entering a web property and should comply with FDA and PMCPA regulations.

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With the ever-increasing pressure to ensure maximum return on investment, Sales Force Effectiveness is becoming a high priority area. A Sales Force represents the largest spend in sales and marketing and is second only to Research and Development within the whole of a company. Yet, similar to R & D, study after study shows that the returns gained from this spend are not particularly strong. Research by Novartis shows, despite the fact that the top 40 Pharmaceutical companies in the US doubled their investment in Sales Force over the past 5 years, prescriptions only rose by 15% in the corresponding time period. Research by IBM concurred with this result and found that every dollar spent on Sales Force generates just $10.30 in sales. This represents a 22% drop in return since 1996. Generally, there has been an industry-wide decrease in productivity per Sales Representative, down 24% since 1996. In addition, the Sales Representatives that are hired are low in age, output and skill. Reps face a highly competitive field, with recent figures showing a field of 90,000 Reps competing for 650,000 Physicians - only 125,000 of whom are top tier prospects. A rapidly expanding Sales Force with rapidly decreasing productivity results in an approximate 18% turnover each year. Fortunately, the concept that ‘size sells’ is largely beginning to be abandoned across the Pharmaceutical Industry. Many Sales Managers are turning their attention to increasing the effectiveness of the Sales Force, rather than the size. In this report, we examine Sales Force Effectiveness in the Pharmaceutical Industry. We analyze current metrics and their limitations, in focus and in measuring Sales Force Effectiveness, for the Pharmaceutical Industry. Then we discuss appropriate metrics to solve these problems, and demonstrate implementation methods and issues.

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Sales Force Effectiveness is Dead ... or is it? Five opportunities for pharma to get ‘back to basics’ and immediately lift sales performance. Blackdot are a full service benchmarking, consulting, training & advisory firm exclusively focused on lifting sales force effectiveness & efficiency. Blackdot exist to assist their clients to achieve more predictable, repeatable, and sustainable sales performance. What makes them unique is their total fixation on the use of data-driven, evidence-based techniques to understand what does (and does not) drive sales performance. By viewing the ‘sales engine’ holistically, as an ecosystem of component parts that work interdependently to impact sales results, Blackdot are able to identify the root cause of what’s inhibiting and enabling your current performance, including quantifying the payoff in actually getting it right. Armed with this knowledge, Blackdot stand alongside their clients who engage them to define, implement and embed change programs that bridge the gap between ‘hoping’ and ‘knowing’ they’ll deliver top and bottom line performance improvement.

Pharmaceuticals Sales Force Effectiveness

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Digital Marketing within the Pharma Industry: The first and safer way is to summarize the past 12 months, the second, more dangerous but also more exciting is to predict what will happen in 2015. For years digital marketing was treated as a fifth wheel in pharma business. Whatever we say, the truth is that those organisations are made of sales force. And a digital sales force was just another marketing gimmick that does not add value but a workload and cost. However, during past few years this traditional sales force thinking was challenged. Payers pressure forced companies to reduce ranks of sales representatives. Regulatory decisions have limited possibility of sales rep to meet HCPs. The result is that sales rep cannot meet his Client often enough to detail the product and maintain relationship in the same time. Digital came to help with e-detailing and web-based self-detail solutions. CRM software supports reps with data that allow reps to have a meaningful conversation with HCPs they barely know. Combining detailing visits with digital tatics and good old direct marketing is our new buzz word: Multi Channel Marketing or Multi Channel Sales

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Sales Force Effectiveness

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