How Sales Force Effectiveness is Reinventing the Pharma Landscape in the US
Download Free Resource In recent years, the US pharma industry has recorded a reduction in the sales workforce and a corresponding decline in overall sales. This has adversely impacted core business operations in the pharma industry, paving the way for a major paradigm shift in the organizational structure, especially around the methods for improving sales. [...]
In recent years, the US pharma industry has recorded a reduction in the sales workforce and a corresponding decline in overall sales. This has adversely impacted core business operations in the pharma industry, paving the way for a major paradigm shift in the organizational structure, especially around the methods for improving sales. Moreover, the drastic decline in sales has encouraged pharma companies to realign their sales structure with the corporate strategy to improve sales force effectiveness. In line with this transformation, pharma companies in the US are now pressurized to generate higher profits with lower sales resources. Quantzig’s sales force effectiveness solutions can help you do just that by creating strategic relationships with customers to deliver long term profitable sales growth and achieve short term sales targets.
3 Opportunities for Pharma to Get Back to Basics and Boost Sales Performance
Our sales analytics experts have identified three new opportunities that can help pharma companies to focus on the core fundamentals of sales force effectiveness that is required to drive a more predictable sales performance:
- Understand and analyze factors that define sales performance
- Optimize the sales coverage model based on product maturity
- Fix linear sales models
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Opportunity #1: Understand and analyze factors that define sales performance
Improving sales force effectiveness in pharma may seem to be an uphill task. However, there seems to be no easy path to solving this challenge facing the US pharma industry. In such a scenario, businesses need to focus on the basics and analyze factors that define sales force effectiveness. By doing so businesses can not only identify significant missed opportunities to drive sales but can also transform business operations to ensure they are in-line with the industry’s requirement.
Opportunity #2: Optimize the sales coverage model based on product maturity
Top-performing US pharma companies focus on optimizing their sales coverage models to a clearly defined plan that offers clarity on the customer segments and sales targets. However, it’s crucial to note that this is not a new management construct for pharma, as pharma organizations have long done this by articulating their sales strategies and targeting processes that they expect their sales representatives to use.
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Opportunity #3: Fix linear broken sales models
For modern enterprises, it should come as no surprise that high performing pharma companies have started moving away from the linear selling-focused model towards a more fluid, buyer-centric sales model. Sales models such as these are crucial from a business perspective as they are generally underpinned by new capabilities and a sales-driven culture.
Why Choose Quantzig as Your Sales Force Effectiveness Solutions Provider?
With business needs changing dynamically and customer demands evolving rapidly, pharma companies must focus on improving sales force effectiveness to stay afloat. But it’s crucial to note that sales force effectiveness is not a one-time initiative but an ongoing process that deserves more profound perception and broader adoption to increase profitable sales. We understand the business needs of our clients which is why we’ve curated a comprehensive portfolio of sales analytics solutions to redesign sales strategies and devise tactical methodologies to reinforce sales force effectiveness and boost sales by ensuring the sales force is well-positioned to succeed through post-sales support capabilities.
Gain limited-time complimentary access to our analytics platform and learn how these high-impact opportunities can help you differentiate yourself .
Quantzig’s Sales Force Effectiveness Capabilities
- Sales Force KPI’s and Metrics
- Sales Force Productivity
- Incentive Compensation and Planning
- Sales Funnel Analytics
- Sales Channel Attribution Analytics
As the healthcare environment becomes more dynamic, the pharma industry has a clear opportunity to improve its sales performance through new initiatives that focus on improving sales force effectiveness. Get in touch for more insights.