Dolan at specialty pharma commercial effectiveness


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Dolan at specialty pharma commercial effectiveness

  1. 1. The Pursuit of ValueIs there room (and a role) left for the sales force?Eyeforpharma’s Specialty Pharma Excellence ConferenceBoston, MAFrank F. DolanPrincipal ConsultantTwitter: @pharma411 1
  2. 2. Our Panelists Michael Bailey ◦ Chief Commercial Officer, AVEO Pharmaceuticals Jeremy Lutz ◦ Senior Director- Decision Support, Cubist Pharmaceuticals Brian Irwin ◦ Managing Director, Informa Training Partners
  3. 3. The data is in… Courtesy 20th Century Fox
  4. 4. Our Forefathers Algorithm Right Right RightMessage People Frequency•Key Performance Indicators•Calls Per Day•Reach M M•Frequency G D o o•Segmentation•Promotional Sensitivity o r e r Sales•Awareness t e e•Trial•Utilization
  5. 5. Aligned to the CustomerHigh Potential for Developing Perceived Valueof Sales Representatives ◦ While sales representatives impact their treatment decisions, MD’s perceive 70% of them to be of only low or medium value to their practice
  6. 6. Gaining Competitive Advantage through Value How do MD’s define quality and value?  Product knowledge  Disease state knowledge  Understanding my needs as a physician  Managed care status knowledge  Ability to conduct useful face-to-face interactions  Presents relevant product support material and/or solutions  Credibility  Appropriate frequency of sales calls
  7. 7. Meeting ExpectationsWhat percentage of sales representatives meet your expectations regarding all of the following attributes? Product knowledge Disease state knowledge Understanding my needs as a physician Managed care status knowledge Ability to conduct useful face-to-face interactions Presents relevant product support material and/or solutions Credibility Appropriate frequency of sales calls
  8. 8. Rep EssentialsGold Standard Representative Has: -Strong Product Knowledge -Credibility ◦ The vast majority of MD’s see these two attributes as essential for all sales representatives
  9. 9. Panel Question As a company approaches commercialization with a sales force, what are some approaches to measuring promotional quality?
  10. 10. Conflicting GoalsThe Reality of the Sales Call ◦ MD’s want: #1 gain product knowledge, #2 added value ◦ MD’s say that get a message monolog- NOT product knowledge or value
  11. 11. Key FindingsSales Representatives Impact BrandLoyalty ◦ One-third of physicians indicate their prescribing behavior changes when a sales representative changes companies
  12. 12. Panel Question In a hospital/institutional selling environment, how do you interpret activity to sales levels?
  13. 13. Sales Rep as a Critical Success FactorSales Representative Often the Determining Factorin Visits ◦ In 39% of visits, the sales representative, not just the company or products detailed, will determine the institution’s willingness to see a sales representative
  14. 14. Key to AccessImprovements to Perceived Value OpensDoors ◦ Nearly one-third of MD’s give special privileges to sales representatives who meet their expectations on knowledge, interaction frequency, and credibility 0 61 61% of sales representatives currently do not meet all these needs, presenting a major opportunity for growth in physician access
  15. 15. Access is PersonalMD’s Have Control Over Sales RepresentativeVisits ◦ Approximately half of MD’s work in institutions that decide on which sales representatives they engage with on a case-by- case basis ◦ 14% indicate that rep access is determined by formal protocol
  16. 16. Panel Question What investments are companies making to fulfill their pursuit of being more “customer-centric”?
  17. 17. The Payoff for High value Reps 75% of MD’s give high value representatives more interaction time, more frequent interactions, or both
  18. 18. Where do we go from here Beware activity-to-sales formulas – Quantity centric Measure promotional quality and value – Customer is scoring you anyway Customer Listening Metrics is the new Closed Loop Marketing