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Prospecting in pharmaceutical selling

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"Prospecting in Selling or particularly in pharmaceutical Selling" is a training material and a contribution from me to society and the business world.This is about a very important ingredient of pharmaceutical Selling, the most important one when we are talking about the Business Development, Customer Acquisition & Customer development. Prospecting indeed is the foundation stone of Pharmaceutical Sales & Marketing. This is very much customer focussed and Customer oriented, where customer is the real king of business and an inspiration for every innovation. Enjoy & Happy Selling, Mansoor Khan​

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Prospecting in pharmaceutical selling

  1. 1. PROSPECTING IN PHARMACEUTICAL SELLING Mansoor Khan Team Lead-Training & Development, Islamabad, Pakistan Cell: 03315494769 Skype: Mansoor.lahore Mansoor.lahore@gmail.com
  2. 2. Pharma Selling Process 3 Prospecting Pre-Approach Approach Need assessment Presentation Meeting objections Gaining commitment Follow-up
  3. 3. Spirit of Business Development: Prospecting - Involves locating and qualifying the individuals or businesses that have a potential to buy a product. - A person or business that might be a prospect is a lead.
  4. 4. - Salespeople who begin their sales careers prospecting look forward to the day when most of their sales come from present customers. - Referrals are earned by demonstrating integrity, trustfulness and character to the customer. •‫ھے۔‬ ‫سکتا‬ ‫جا‬ ‫لے‬ ‫میں‬ ‫گلی‬ ‫بند‬ ‫کو‬ ‫آپ‬ ‫انحصار‬ ‫پر‬ ‫ڈاکٹر‬ ‫ایک‬ ‫کسی‬ ‫میں‬ ‫بزنس‬ •
  5. 5. Sales Process? • - Sales process refers to a sequential series of actions by the salesperson that leads towards the customer taking a desired action and ends with a follow-up to ensure purchase/buy/Rx satisfaction.
  6. 6. Steps before the sales presentation • - It all begins with prospecting - Doing a great amount of background work just like a lawyer - A good sales process involves 20% presentation, 40% preparation and 40% follow-up. - “Nothing happens until someone does some prospecting”
  7. 7. Prospecting – The life blood of selling First step in the selling process A prospect is a qualified person or organization that’s has potential to buy It is the life blood of selling because it identifies potential customers TWO reasons – increase sales and search for the replacement of customers that may be lost in future. Find people that are MAD. Money, Authority and the Desire to Prescribe or Dispense ?
  8. 8. THE LEAKING BUCKET CUSTOMER CONCEPT New customers come into the top and leave through a hole in the bottom of the bucket. It is always easier to sell a satisfied customer than an unsatisfied one or a prospect. The cost of acquiring a new customer is higher than keeping a present customer. This is why service and follow- up after the sale are so important to salespeople.
  9. 9. WHERE TO FIND PROSPECTS Sources of prospects can be many and varied or few and similar, depending on the service or product the salesperson sells. Naturally, persons selling different services and products might not use the same sources for prospects.
  10. 10. PROSPECTING STRATEGY Frequently salespeople, especially new ones, have difficulty in prospecting. Many salespeople prefer to contact prospects having similar characteristics/interests as themselves. To be successful, prospecting requires a strategy. Prospecting, like other activities, is a skill that can be constantly improved by a dedicated salesperson.
  11. 11. Prospecting Methods Actual Methods that salespeople use to obtain prospects 1.Suspecting (getting info from different sources) 2.Social or Initial Prospecting (Qualification) - Doctors/Customers -Institutions 3. Verification (Chemists, Market, Field, Peers) 4. Endless (Chain) Customer Referrals 5. Orphaned customers (Past or Ex-Customers) 6. Associations/Societies (PMA, PSR, POA, PAFP) 7. Associate Staff (PA, Reception, Staff Nurse, Security Guard, Peon, Driver) 8. Symposiums/Exhibitions 9. Center of Influence (KOLs) 10. Interest/Orientation 11. Observation 12. Networking
  12. 12. Prospecting Guidlines • -The criteria that WE should use in developing the best prospecting method. 1. CUSTOMIZE or choose a prospecting method that fits the specific needs of US. • Don’t ever Ctrl+ C & than Ctrl+V of any other Organization’s Method (with out evaluation of UR very OWN SWOT) 2. Concentrate on HIGH POTENTIAL customers first. 3. Always CALL BACK/REVIEW on prospects that did not buy. -Look for new customers -Do not be limited to your present customers
  13. 13. The Prospect Pool PROSPECT POOL SUSPECT LEAD REFERRAL CUSTOMER ORPHAN (past/Ex- Customer) -A group of names gathered from various sources -Chemist, Market, Field, referrals, Orphan, or existing customers.
  14. 14. 1. Suspect- Have doubt & not clear about exact potential for the specific products. 2. Leads - people and institution you are getting to know very little about. 3. Referrals - people or organizations you frequently know very little about than what you learned from the referral.(words of mouth) 4. Orphans - company records provide you only information about these past customers. 5. Your Customers - The most important prospects for future sales of other portfolio products & line extensions.
  15. 15. Call Reluctance Costs You Value Addition in Your Business
  16. 16. Not wanting to contact a prospect or customer “You must admit you have call reluctance and that your call reluctance is keeping you away from helping others and earning what you’re worth.” Owning up to call reluctance is the most difficult part of combating it
  17. 17. Obtaining the Prospected Sales Information
  18. 18. Benefits of Appointment Making • Call Planning: • Plan and write down what you will say. • Clearly identify yourself and Company. • State the purpose of your call and briefly outline how the prospect may benefit from professional business call. • Prepare a brief sales message. • Do not take no for an answer.(Probing) • Ask for a Trial of your product. • Phrase your request as a question.
  19. 19. Benefits of Appointment Making • Personally Making the Appointment • Believe in yourself. • Develop friends in the prospect’s area of influence. • Call at the right time on the right person. • Do not waste time in procrastination or delay to act.

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