This document summarizes a panel discussion on the role and value of pharmaceutical sales representatives. The panelists discussed how physicians define quality and value in sales representatives, with strong product and disease state knowledge and credibility being top attributes. Physicians reported that most representatives only meet low to medium expectations for value. The document concludes that improving perceived representative value through knowledge could open more doors to physician access and influence brand loyalty.
The study sought to: (1) evaluate the predominant sales styles, the sales effectiveness, and the relationship among sales style flexibility, sales effectiveness and net income performance of a group of sales persons of several organizations, and (2) develop, implement, and evaluate a complementary Sales Training Program. To identify the predominant sales styles, as well as the selling effectiveness of the 200 involved salespersons, of the involved organizations (15), it has been used an instrument available in the market. To compute the net income of the salespersons of the involved organizations, an archival data gathering was conducted involving each one of the sellers. To investigate the relationship between sales flexibility, taken the average value per organization, and the average net income of each organization, it has been used the linear regression statistics computing the linear correlation coefficient between the before mentioned two variables. To investigate the relationship between sales effectiveness, taken the average value per organization, and the average net income of each organization, it has been used the linear regression statistics computing the linear correlation coefficient between the before mentioned variables. To assess the Sales Training Program three variables were selected: selling style flexibility, selling effectiveness and sales net income performance. A quasi-experimental design consisting of a pretest-posttest nonequivalent control group was used involving two organizations sales force in the experimental group (30 salespersons) and 13 organizations in the control group (170 salespersons). Analysis of means, variance, Pearson r, and Student t test were used for data analyses. The study has uncovered lack of flexibility regarding the selling styles, presenting styles of persuading and committing as dominants. The study also showed that the selling effectiveness of the involved salespersons was at a low level before any training efforts. The research also pointed out a high positive relationship between selling flexibility and sales net income performance, as well as selling effectiveness and sales net income performance. Finally, the research uncovered a high positive influence of the sales training efforts on the selling flexibility, selling effectiveness and sales net income performance.
So you want to reach those valuable non-clinical buyers in healthcare and converse with these materials managers about more than just price. Digital marketing will allow you to reach them, build a rapport, nurture their interest in your offering and ultimately pass them off to a sales representative as a qualified lead.
The study sought to: (1) evaluate the predominant sales styles, the sales effectiveness, and the relationship among sales style flexibility, sales effectiveness and net income performance of a group of sales persons of several organizations, and (2) develop, implement, and evaluate a complementary Sales Training Program. To identify the predominant sales styles, as well as the selling effectiveness of the 200 involved salespersons, of the involved organizations (15), it has been used an instrument available in the market. To compute the net income of the salespersons of the involved organizations, an archival data gathering was conducted involving each one of the sellers. To investigate the relationship between sales flexibility, taken the average value per organization, and the average net income of each organization, it has been used the linear regression statistics computing the linear correlation coefficient between the before mentioned two variables. To investigate the relationship between sales effectiveness, taken the average value per organization, and the average net income of each organization, it has been used the linear regression statistics computing the linear correlation coefficient between the before mentioned variables. To assess the Sales Training Program three variables were selected: selling style flexibility, selling effectiveness and sales net income performance. A quasi-experimental design consisting of a pretest-posttest nonequivalent control group was used involving two organizations sales force in the experimental group (30 salespersons) and 13 organizations in the control group (170 salespersons). Analysis of means, variance, Pearson r, and Student t test were used for data analyses. The study has uncovered lack of flexibility regarding the selling styles, presenting styles of persuading and committing as dominants. The study also showed that the selling effectiveness of the involved salespersons was at a low level before any training efforts. The research also pointed out a high positive relationship between selling flexibility and sales net income performance, as well as selling effectiveness and sales net income performance. Finally, the research uncovered a high positive influence of the sales training efforts on the selling flexibility, selling effectiveness and sales net income performance.
So you want to reach those valuable non-clinical buyers in healthcare and converse with these materials managers about more than just price. Digital marketing will allow you to reach them, build a rapport, nurture their interest in your offering and ultimately pass them off to a sales representative as a qualified lead.
Cracking the C-Suite: Finding and Aligning with the Relevant Executive in 2010G3 Communications
Stephen J. Bistritz, Ed.D. author of the new book “Selling to the C-Suite.” Steve shares strategies on how to map an organization to determine the formal and informal power. He is joined by Dan McDade, President of PointClear, who shares recent success stories on using Multi-touch, Multi-media, Multi-cycle campaigns that Multiply Results and gain access to high level executives.
Not all salespeople are successful. Given the same sales tools, level of education, and propensity to work, why do some salespeople succeed where others fail? Is one better suited to sell the product because of his or her background? Is one more charming or just luckier? The evidence suggests that the personalities of these truly great salespeople play a critical role in determining their success.
If it's going to work, you need to involve people outside the marketing function. Actually, you have a change management project on your hands. See why.
Please credit the author if you use the material. Some images are subject to copyright.
Corporate Training : Sales & Customer Relation Mastery seriesAngela Hua Eng Bong
Sales and Customer Relation Mastery training series, covering area of retail sales environment, personalised and long term customer account management, customer relation and experiences.
Carmen Neghina, Alina Oprea, Myriam Suidan - Case study - Marketing and Psychology
Who Influences Decisions?
Who Is in the Buying-Center?
Who Are the Powerful Buyers?
What Do Buyers Want?
Diagnosing Motivation
The Buyers’ Decision-making Process
Possible Outcomes
How Do Buyers Perceive a Company?
Leveraging the modern purchasing funnel is one of the most powerful ways of maximising business ROI from your brand and marketing spend. Do you really know what the purchasing funnel is for your category, how you are performing against your competitors, where the holes are in your funnel, and how many customers you are really losing?
i-Labs Digital is an Italian company with a consolidated expertise on the e-commerce market. It owns some e-commerce stores for pharmaceutical products, operating both in Italy and Europe. We are looking for a Partner (one per Country), in Latin Countries (Brazil, Mexico, Spain; Portugal, etc) who owns a physical Pharmacy interested to launch an e-commerce store .
Social Media Marketing For Biotech and Pharmaceutical Industry Chakard Chalayut
Social Media Marketing For Biotech and Pharmaceutical Industry
Biopharm Company 26/04/11
Topic:
Overview of Social Media
How to use Social Media?- Case Study
Tools for Social Media for Organization
How to Start?
Cracking the C-Suite: Finding and Aligning with the Relevant Executive in 2010G3 Communications
Stephen J. Bistritz, Ed.D. author of the new book “Selling to the C-Suite.” Steve shares strategies on how to map an organization to determine the formal and informal power. He is joined by Dan McDade, President of PointClear, who shares recent success stories on using Multi-touch, Multi-media, Multi-cycle campaigns that Multiply Results and gain access to high level executives.
Not all salespeople are successful. Given the same sales tools, level of education, and propensity to work, why do some salespeople succeed where others fail? Is one better suited to sell the product because of his or her background? Is one more charming or just luckier? The evidence suggests that the personalities of these truly great salespeople play a critical role in determining their success.
If it's going to work, you need to involve people outside the marketing function. Actually, you have a change management project on your hands. See why.
Please credit the author if you use the material. Some images are subject to copyright.
Corporate Training : Sales & Customer Relation Mastery seriesAngela Hua Eng Bong
Sales and Customer Relation Mastery training series, covering area of retail sales environment, personalised and long term customer account management, customer relation and experiences.
Carmen Neghina, Alina Oprea, Myriam Suidan - Case study - Marketing and Psychology
Who Influences Decisions?
Who Is in the Buying-Center?
Who Are the Powerful Buyers?
What Do Buyers Want?
Diagnosing Motivation
The Buyers’ Decision-making Process
Possible Outcomes
How Do Buyers Perceive a Company?
Leveraging the modern purchasing funnel is one of the most powerful ways of maximising business ROI from your brand and marketing spend. Do you really know what the purchasing funnel is for your category, how you are performing against your competitors, where the holes are in your funnel, and how many customers you are really losing?
i-Labs Digital is an Italian company with a consolidated expertise on the e-commerce market. It owns some e-commerce stores for pharmaceutical products, operating both in Italy and Europe. We are looking for a Partner (one per Country), in Latin Countries (Brazil, Mexico, Spain; Portugal, etc) who owns a physical Pharmacy interested to launch an e-commerce store .
Social Media Marketing For Biotech and Pharmaceutical Industry Chakard Chalayut
Social Media Marketing For Biotech and Pharmaceutical Industry
Biopharm Company 26/04/11
Topic:
Overview of Social Media
How to use Social Media?- Case Study
Tools for Social Media for Organization
How to Start?
While pharma and healthcare companies may be limited by regulatory rules about what they can do with social media marketing, there is plenty they can and many companies have already jumped ahead. Here are some case studies of the best and why they work.
The basics of launching a pharmaceutical drug-
Based on studies done on the practices of 13 top pharmaceutical companies in the world.
For more, write to info@markivmedical.com
Ensuring Profitable ROI in Pharma Marketing (mini)Eularis
The Pharmaceutical environment is turbulent and, as a result, what used to work to create industry-wide growth of 20% no longer does. The profit generated from brands is in decline as market growth slows in the major Pharmaceutical markets and this inevitably leads to marketing budget cuts.
The only way for a brand to grow effectively - and cost-effectively - is to improve the bottom line effectiveness of each marketing spend. Pharmaceutical marketers are under even more pressure to get more ‘bang for their buck’ from their marketing spend and be able to justify it.
This in-depth report answers the questions that Pharmaceutical marketing directors are asking:
* How do we successfully measure our individual marketing activities’ bottom line return, and prove it to the CFO?
* How do we prove exactly which marketing components are really growing our bottom line
* How do we know what aspects need to be changed, and how, to grow the bottom line by a specific amount
This report explains the different methods being used such as ROI, promotional response models, econometrics and predictive algorithms and the pros and cons of the different approaches.
There are step-by-step guidelines on successfully implementing these approaches for real and measurable results and numerous case studies of actual Pharma brands who have successfully navigated these waters. Consideration is given to what they did to measure and improve - and prove - bottom line return.
There are step-by-step guidelines on successfully implementing these approaches for real and measurable results and numerous case studies of actual Pharma brands who have successfully navigated these waters. Consideration is given to what they did to measure and improve - and prove - bottom line return.
The report will help Pharmaceutical marketers navigate and understand marketing analytics and develop skills to harness competitive advantage.
This report will focus on:
* The practical skills every marketer needs for measuring the effectiveness of their marketing
* Which tools and best practices really make a difference
* The measurement principles that drive successful marketing measurement
* How to propel strategy, growth, and bottom line return
* Case studies in measurement of sales force return, eDetailing return, compliance/adherence programs, CME speaker programs, advertising campaigns, PR campaigns, CRM implementation return, and much more
* Key points of relevance in these case studies
* New ideas you can apply to your area of marketing responsibility – be it sales force, advertising, eDetailing, CME, CRM, PR or any other related field.
IMC 610 Integrated Marketing Communication Plan for KmartStephanie Marchant
Integrated Marketing Communications plan for Kmart. The target audience of female shoppers between the ages of 18 and 45 is the focus of the proposed campaign and a great deal of research has been completed to identify and utilize Kmart’s strengths, weaknesses, opportunities and threats to prepare a plan most beneficial to the organization. Objectives and tactics have been designed to fall in line with Kmart’s mission and values. This detailed plan includes marketing, creative, media, and public relations strategies, as well as direct marketing and sales promotions suggestions. A comprehensive budget and media plan flowchart map out the campaign and the proposed measurement and evaluation plan will assess the campaign upon completion.
Pharmaceutical marketing plan case studyMohamed Magdy
Pharmaceutical Marketing Plan Case Study
I can challenge you will never see such fully fledged Pharmaceutical Marketing Plan Case Study in the internet for FREE as I did in this case study!
Click here to ENJOY it: http://www.guerrillamarketer.com/pharmaceutical-marketing-plan-case-study/
BioPharma Development & Production 20 - 23 May 2014, Shanghai, ChinaIBCASIA
BioPharma Development & Production Week co-locates Cell Line Development & Engineering Asia, Bio Manufacturing and BioSimilars Asia, together in one location.
Meet and Network with the professionals and key players from the Biopharma Industry at the event. Learn technical and practical know how from experiences on the ground in Asia and showcase your cutting edge solutions to key China/ Asian biopharma decision makers.
This document summarizes three connected pieces of work by Steve W. Martin, that should resonate with salespeople and sales managers alike. A lot of research has been conducted concerning the right capabilities a salesperson should have to become a high-performing top salesperson. This project involved the interviewing of top salespeople and sales leaders to gather more information
about the attributes necessary to exceed your quota.
The role of strategy, personas & a clear value proposition in driving your conversion process. A quick example of deriving a persona and value proposition.
Moving Beyond Like, Love and Loyalty to Real Customer AdvocacyHub+company
Traditional marketing practices no longer work. They are being usurped by customer-driven referrals as the valuable new currency in small business growth.
In today’s socially-driven world, it has become even more critical that small business owners create platforms to engage customers and exchange information to maintain competitive distinction.
That’s right. It’s time to move away from push marketing tactics, which are often ignored, to true customer advocacy. Now is the time to strategically cultivate highly-engaged customers who will organically promote your products and services for you.
Why Good Service isn’t Good Enough: Shift Your Mindset- Before They Shift The...Integrity Solutions
Practical strategies for financial services organizations to shift to a customer-focused mindset. Five critical dimensions of sales success that are often overlooked. Tips for escalating attitudes towards selling.
Engage & Listen: Activating Your Brand Across Digital TouchpointsOne North
Collaborative. Responsive. Client-focused. Innovative. These are some of the most commonly used go-to-market messages for B2B organizations. Nearly identical value propositions like these create a dangerous "sea of sameness" for this industry.
As marketers, we must dig deeper. We need to find a point of view that is authentic to the character of our organization and unique to our competitive set and vertical. Without this, it's impossible to separate from the pack and present your clients and customers with a brand experience that is more than just your snappy color palette or slick logo.
John Simpson (CEO & Founder) and Ryan Schulz (Director, Brand) discuss how to differentiate your brand, avoid the sea of sameness and activate Brand across all of your digital touchpoints.
Reaching Buyer 2.0 - Sales and Marketing Strategies for Copier DealersDarrell Amy
Just like the move from analog to digital copiers made profound shifts to how we do things, the move from analog to digital prospecting and marketing opens new opportunities to grow business.
With 94% of business buying decisions now beginning online and buyers 57% of the way thorough the buying process before engaging with a sales rep, copier dealers need to get smart when it comes to online sales and marketing.
In this presentation you'll learn how you can move your dealership from analog to digital prospecting with LinkedIn. You'll also learn the latest inbound marketing strategies to leverage the internet to create and nurture leads.
The presentation concludes with a practical three-step action plan for a copier dealership to build a powerful marketing engine.
Michael Farrington - Staying Relevant in MarketingAMASanDiego
Our objective as marketers hasn’t changed despite the world changing around us. We remain in the business of changing human behavior — helping customers choose our companies, our products, and our brands (and NOT our competitors). The challenge? Our customers are engaging us later and later in the sales process, our customers know MORE about us than we know about our customers, and our marketing mix continues to get more and more complex. As marketing leaders, we will quickly become irrelevant if we don’t act now and understand how our customers are making decisions, why they’ve made those decisions, and where to place our limited marketing investments. Mike will share how he’s driving this shift within a $1 billion publicly-traded, medical technology company, including the process, tools, and insights to make that change happen at your organization.
Marketing Revealed: How Retail and Digital Marketers Drive TransformationG3 Communications
View the full webcast here: http://rtou.ch/2kErvmS
Learn how more than 500 Retailer and Brand Marketing Leaders are trailblazing the way to a Marketing Revolution.
Lead Scoring: Aligning Marketing and Sales with Effective Lead Scoring Techniques - Turning Marketing’s leads into Sales’ gold can be a challenge. The inability to generate and identify qualified leads negatively impacts the effectiveness of marketing campaigns, revenue growth, and company success. This presentation explores this challenge and provides information on how to align the expectations of sales and marketing, enabling marketing to deliver a continuous flow of qualified leads to the sales team for maximum ROI. This informative session will teach you how to accelerate the sales cycle through automated lead scoring.
Dolan at specialty pharma commercial effectiveness
1. The Pursuit of Value
Is there room (and a role) left for the sales force?
Eyeforpharma’s Specialty Pharma Excellence Conference
Boston, MA
Frank F. Dolan
Principal Consultant
Twitter: @pharma411
1
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
4. Our Forefathers Algorithm
Right Right Right
Message 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.
6. Aligned to the Customer
High Potential for Developing Perceived Value
of 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
7. 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
8. Meeting Expectations
What 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
9. Rep Essentials
Gold Standard Representative Has:
-Strong Product Knowledge
-Credibility
◦ The vast majority of MD’s see these two attributes as
essential for all sales representatives
10. Panel Question
As a company approaches
commercialization with a sales force, what
are some approaches to measuring
promotional quality?
11. Conflicting Goals
The 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
12. Key Findings
Sales Representatives Impact Brand
Loyalty
◦ One-third of physicians indicate their prescribing behavior
changes when a sales representative changes companies
13. Panel Question
In a hospital/institutional selling
environment, how do you interpret
activity to sales levels?
14. Sales Rep as a Critical Success Factor
Sales Representative Often the Determining Factor
in 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
15. Key to Access
Improvements to Perceived Value Opens
Doors
◦ 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
16. Access is Personal
MD’s Have Control Over Sales Representative
Visits
◦ 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
17. Panel Question
What investments are companies making
to fulfill their pursuit of being more
“customer-centric”?
18. The Payoff for High value Reps
75% of MD’s give
high value
representatives
more interaction
time, more frequent
interactions, or both
19. 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