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
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
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
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
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
Panel Question As a company approaches commercialization with a sales force, what are some approaches to measuring promotional quality?
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
Key FindingsSales Representatives Impact BrandLoyalty ◦ One-third of physicians indicate their prescribing behavior changes when a sales representative changes companies
Panel Question In a hospital/institutional selling environment, how do you interpret activity to sales levels?
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
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
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
Panel Question What investments are companies making to fulfill their pursuit of being more “customer-centric”?
The Payoff for High value Reps 75% of MD’s give high value representatives more interaction time, more frequent interactions, or both
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