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.
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.
Description of the ELITE Program based on four pillers: 1. the prescriber insight - 2. the brand preference mix - 3. the the high impact interactions - 4. Job passion
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.
Description of the ELITE Program based on four pillers: 1. the prescriber insight - 2. the brand preference mix - 3. the the high impact interactions - 4. Job passion
Description of the Brand Booster Program which includes three innovative marketing approaches: the Brand Preference Mix to increase market share - the Behavioral Prescriber Segmentation to increase the efficiency of field forces and the Individual Prescriber Plan to fine tune the marketing mix
New Pharma approach: from (e-)detailing to customer & patients excellence: a ...A.R.J. (Rob) Halkes
In the demand for a new business model for pharma, the roadmap from current promotion via detailing to a more engaging way to physicians and health care providers, may lead stepwise to improved servicing to physicians and may lead to collaboration to co-create patient care. Role of social media to pharma and multichannel approaches may so find its position in new pharma marketing.
Decades ago, Peter Drucker was invited to address the senior management team at General Motors, he asked them a simple, but penetrating question: “Why should I buy a GM car?”
Many senior executives attempted to answer that simple question but, nobody was able to give a convincing answer! The senior managers at General Motors had unlearnt the art of winning customers by not being able to answer the simple question - “Why should I buy a GM car?” But they kept introducing more and more new models which less and less customers bought. And that was the prelude to GM’s decline and bankruptcy.
That question still resonates for every business including Indian Pharma. I wonder how many field sales people - Medical Reps and their managers can answer the question - Why Should the Doctor Rx Your Product? Having a clear answer to that question is the key to winning customers - be they doctors, chemists, distributors or hospitals.
As companies grow larger, hierarchies are created and sales processes like CRM/SFA evolve and become embedded. In the absence of a dynamic top leadership, hierarchy and processes become rigid and difficult to change even though rapidly changing market dynamics demand that they do. Bureaucracy slows down customer-centric decision making and inaction becomes part of the organisation's culture. The emphasis shifts from developing employees and winning customers to launching products and hitting numbers.
Peter Drucker rarely blamed individuals; he saw root causes in the design of organizations—in their structures, processes, norms, and routines. He would ask leaders a few provocative questions: “What is your mission? What should you stop doing? Where has the drive for short-term efficiencies undermined long-term effectiveness? What should be your objectives and guiding principles?”
Go through this presentation to know about:
1) What every Medical Representative needs to discover before making Doctor Calls?
2) What lays the foundation for healthy prescription growth?
Presentation of the "Smart Field Force Framework" which has been developed to help pharma companies design the best organizational model to support the right strategy and tactics
Pre-Launch Planning: Priming Your Pharma Brand For Profit And Success (mini)Eularis
In today’s environment, Pharmaceutical companies find themselves in a bind. Until recently, if drugs made over $500 Million in annual revenue within 3 to 5 years of launch, they were considered hugely successful. They were a support to an extensive company portfolio and a component of greater company profit.
However, things have changed. The standards for a successful drug have become much higher and much more dangerous. With so many revenue-producing drugs going off patent, companies are facing large holes in their balance sheets and sales that are increasingly slow.
Plus, with the stakes high and available funds low, pipelines are drying up. Add to this the closer scrutiny of safety issues, the rise of Generics, slower physician acceptance and adoption of new therapies, and the Pharma Industry is in trouble.
More and more, companies are expecting marketers to be instrumental at the key moment of launch, and marketers are under extreme pressure. To deliver on the high hopes of Pharmaceutical brand launch, companies must engage in comprehensive pre-launch planning.
In this report we analyze why launch is increasingly important, the issues involved in pre-launch planning, including key organizational strategies, marketing tactics, regulatory considerations, global issues, and methods for ensuring the most effective plans.
How Many Types of Marketing Strategies in Pharma Sector? - Ambit Bio Medixambitbiomedix12
If you are looking to many types of Marketing Strategies in Pharma Sector then Ambit Bio Medix is one of best top 10 pharma franchise companies at the best price. Here are the Many Types of Marketing Strategies in Pharma Sector.
Training Program for Medical Representatives by Anup Soans Anup Soans
“Hardknocks for GreenHorn is a good book and very useful tool for any one starting his / her career in Pharma Industry..
It covers all basic concepts i.e Medical Part, Sales Tools, Innovative methods and much more. I strongly recommend this book to be the part of freshers training batch in any Pharma Company. .”
Pharmaceutical companies spend nearly 97 percent of their marketing budgets to capture initial market share.
Since the majority of spend goes towards attracting new consumers, efforts at retaining existing customers are given short shrift, with a paltry three percent of budgets. By focusing exclusively on new customers, companies are missing a valuable opportunity to increase sales and market share.
Pharmaceutical companies can no longer ignore the hidden value available by increasing patient adherence. Today, an estimated 70 percent of patients who begin a Pharmaceutical therapy discontinue it within 1 year, even those with chronic conditions that require ongoing treatment or those taking chemotherapy to prevent cancer recurrence. This costs the global Pharmaceutical Industry an estimated $30 Billion a year.
Put another way, increased adherence for a product with approximately $1 Billion in sales would translate to an additional $30 to $40 Million in annual revenue. In addition, since it costs six times more to attract new patients than to retain current patients, increasing the focus on, and yields from, adherence means additional money saved and earned.
Companies who implement strategies to increase adherence and persistence with their products can better face the numerous challenges in today’s market, and increase their share of profits.
But how does a company even begin? In this report we look at the formidable barriers Pharma companies face in improving adherence, elements of successful adherence programs and methods for ensuring the best ROI.
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.
Description of the Brand Booster Program which includes three innovative marketing approaches: the Brand Preference Mix to increase market share - the Behavioral Prescriber Segmentation to increase the efficiency of field forces and the Individual Prescriber Plan to fine tune the marketing mix
New Pharma approach: from (e-)detailing to customer & patients excellence: a ...A.R.J. (Rob) Halkes
In the demand for a new business model for pharma, the roadmap from current promotion via detailing to a more engaging way to physicians and health care providers, may lead stepwise to improved servicing to physicians and may lead to collaboration to co-create patient care. Role of social media to pharma and multichannel approaches may so find its position in new pharma marketing.
Decades ago, Peter Drucker was invited to address the senior management team at General Motors, he asked them a simple, but penetrating question: “Why should I buy a GM car?”
Many senior executives attempted to answer that simple question but, nobody was able to give a convincing answer! The senior managers at General Motors had unlearnt the art of winning customers by not being able to answer the simple question - “Why should I buy a GM car?” But they kept introducing more and more new models which less and less customers bought. And that was the prelude to GM’s decline and bankruptcy.
That question still resonates for every business including Indian Pharma. I wonder how many field sales people - Medical Reps and their managers can answer the question - Why Should the Doctor Rx Your Product? Having a clear answer to that question is the key to winning customers - be they doctors, chemists, distributors or hospitals.
As companies grow larger, hierarchies are created and sales processes like CRM/SFA evolve and become embedded. In the absence of a dynamic top leadership, hierarchy and processes become rigid and difficult to change even though rapidly changing market dynamics demand that they do. Bureaucracy slows down customer-centric decision making and inaction becomes part of the organisation's culture. The emphasis shifts from developing employees and winning customers to launching products and hitting numbers.
Peter Drucker rarely blamed individuals; he saw root causes in the design of organizations—in their structures, processes, norms, and routines. He would ask leaders a few provocative questions: “What is your mission? What should you stop doing? Where has the drive for short-term efficiencies undermined long-term effectiveness? What should be your objectives and guiding principles?”
Go through this presentation to know about:
1) What every Medical Representative needs to discover before making Doctor Calls?
2) What lays the foundation for healthy prescription growth?
Presentation of the "Smart Field Force Framework" which has been developed to help pharma companies design the best organizational model to support the right strategy and tactics
Pre-Launch Planning: Priming Your Pharma Brand For Profit And Success (mini)Eularis
In today’s environment, Pharmaceutical companies find themselves in a bind. Until recently, if drugs made over $500 Million in annual revenue within 3 to 5 years of launch, they were considered hugely successful. They were a support to an extensive company portfolio and a component of greater company profit.
However, things have changed. The standards for a successful drug have become much higher and much more dangerous. With so many revenue-producing drugs going off patent, companies are facing large holes in their balance sheets and sales that are increasingly slow.
Plus, with the stakes high and available funds low, pipelines are drying up. Add to this the closer scrutiny of safety issues, the rise of Generics, slower physician acceptance and adoption of new therapies, and the Pharma Industry is in trouble.
More and more, companies are expecting marketers to be instrumental at the key moment of launch, and marketers are under extreme pressure. To deliver on the high hopes of Pharmaceutical brand launch, companies must engage in comprehensive pre-launch planning.
In this report we analyze why launch is increasingly important, the issues involved in pre-launch planning, including key organizational strategies, marketing tactics, regulatory considerations, global issues, and methods for ensuring the most effective plans.
How Many Types of Marketing Strategies in Pharma Sector? - Ambit Bio Medixambitbiomedix12
If you are looking to many types of Marketing Strategies in Pharma Sector then Ambit Bio Medix is one of best top 10 pharma franchise companies at the best price. Here are the Many Types of Marketing Strategies in Pharma Sector.
Training Program for Medical Representatives by Anup Soans Anup Soans
“Hardknocks for GreenHorn is a good book and very useful tool for any one starting his / her career in Pharma Industry..
It covers all basic concepts i.e Medical Part, Sales Tools, Innovative methods and much more. I strongly recommend this book to be the part of freshers training batch in any Pharma Company. .”
Pharmaceutical companies spend nearly 97 percent of their marketing budgets to capture initial market share.
Since the majority of spend goes towards attracting new consumers, efforts at retaining existing customers are given short shrift, with a paltry three percent of budgets. By focusing exclusively on new customers, companies are missing a valuable opportunity to increase sales and market share.
Pharmaceutical companies can no longer ignore the hidden value available by increasing patient adherence. Today, an estimated 70 percent of patients who begin a Pharmaceutical therapy discontinue it within 1 year, even those with chronic conditions that require ongoing treatment or those taking chemotherapy to prevent cancer recurrence. This costs the global Pharmaceutical Industry an estimated $30 Billion a year.
Put another way, increased adherence for a product with approximately $1 Billion in sales would translate to an additional $30 to $40 Million in annual revenue. In addition, since it costs six times more to attract new patients than to retain current patients, increasing the focus on, and yields from, adherence means additional money saved and earned.
Companies who implement strategies to increase adherence and persistence with their products can better face the numerous challenges in today’s market, and increase their share of profits.
But how does a company even begin? In this report we look at the formidable barriers Pharma companies face in improving adherence, elements of successful adherence programs and methods for ensuring the best ROI.
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.
CompanyInformation is very important part of anything that exist.docxdonnajames55
Company
Information is very important part of anything that exist in the world but the correct information is the worthy part that actually plays a role in the success of the company. The correct information provided can only become the source of the right decision in the company. The case enables the reader to communicate the detailed description about the company and the shows the depth of the information. It tells that the All- Star Brands Medicine Groups is among one of the leading manufacturers of the packaged goods since 1924 and keep on expanding its network by acquiring or merging with the various small brands in the market. It gives the detailed overview about the company which shows it has three divisions including Consumer products, international and the pharmaceuticals. It also tells about the offering products of each division like the consumer products include detergent, laundry, bar soap and the shampoo. It is quite good that the company clearly tells about its global presence for which the international division is responsible for and also the leading brand of the group. The pharma division is engaged in the activities of marketing as well. The All- star Brand’s All- round is the market leader in Over the counter (OTC) cold and allergy remedy market. The company clearly tells about the profitability of the company through its leading brands and also the decline in the sales due to the tough competition. The group itself is concerned with the marketing activities and the decision of the brand and its extensions as well as the introductions of the new products. The marketing management group is responsible for the marketing activities. The depth of the information about the company is very important while taking the critical decisions of the company. All- star brand provides the information about the company and presents its overview in a clear manner but it should also present some more facts about the company and its pharma division as it the main focus and the subject matter of the case.
Surveys
The first and most important distinction that the surveys point out is the type of medicine Allround is perceived to be, and who are our target customer should be going forward. Allround is primarily a cold medicine and is perceived as a cold medicine. The target audience for Allround as cold medicine is young and mature families. The surveys suggest that Allround is rarely perceived as an effective medication for allergy symptoms. Allround is perceived as the number one medication for aches and cough among the target audience of young and mature families. The market penetration for families is 67%.
Although we have more overall satisfaction than all of our competitors in every category, we do not currently lead in any category within any demographic. Our brand awareness is excellent, with 82.3% of families being aware of Allround prior to making a purchase. 19% of the buyers that know about Allaround are actua.
This Presentation help organization in development of his sales teams. As the most important and expensive resource of any organization is his people. So to make his people productive, one should work on their development and make them " Efficiently Effective People". In this presentation , the of importance of " Sales Force Effectiveness Department" in an organization has been established. Every organization want that his sales team should fulfill quantitative objectives of organization. This presentation is specially for pharmaceuticals.
Social Media: How To Harness The Power Of Social Media In Pharmaceutical eM...Eularis
For most of us, the Internet is a fact of life. However, we still flounder when it comes to justifying online marketing to both ourselves and our CFOs. We’re still stumped by the ideas of effectively reaching our audience in the vast reaches of the Internet, meeting their needs while also meeting our marketing objectives, and simultaneously being able to measure our success in financial terms rather than simply ‘activity tracking’ for our CFOs.
This challenge can be troublesome enough to prompt some companies and marketers to sit it out apart from the obligatory corporate Website, or to half-heartedly engage in some online activities like a product.com Website, some banner ads and blogs and a Facebook page without a real plan to meet the customer and CFO objectives. New initiatives are started and neglected, or focused entirely on the wrong things. As a result, companies miss out. Potential customers - both physicians and patients - don’t get the message, or feel alienated.
That’s what can go wrong. It’s the potential of wasted time, money and opportunity. However, what can go right is even more striking. An eMarketing campaign that is built on strategy and a deep knowledge of an audience, whilst firmly keeping the marketing objectives in mind, can be extremely powerful.
An eMarketing campaign that effectively uses the Internet as a platform, a ‘jumping off’ point to create value and relationships, and a means to speak specifically to marketers’ targets and create two-way value, is one that can succeed beyond many marketers wildest expectations.
How does it work? In this report, we find out. We examine the Internet as it stands today for physicians, patients and Pharma, and analyze how the old marketing strategies must change to reflect the times.
When Will Indian Pharma Get its Act Together? Anup Soans
Inside this Issue
1. Indian Medical Advisors Summit by Dr. Amit Dang
Photo essay and briefing.
2. Digital Pharma by Chandan Kumar
Digital is changing the fundamentals of the marketplace. Here’s how pharma can keep pace.
3. Selling Across Cultures by Anup Soans and Joshua Soans
Chapter extract from the new book The Art of Modern Sales Management by Renie Mcclay.
4. What You Measure is What Gets Done by Hanno Wolfram
Performance metrics are often a trade-off between ease and value. Is “calls-per-day” a meaningless metric that needs immediate replacement?
5. Book Review: Unlealthy Practices by Anup Soans
Review of the new work of fiction by Dr. Sumit Ghoshal.