Summary of the Sales Force Optimization Case Study
|Client||A leading pharmaceutical company|
|Business Challenge||To increase the reach of these products by optimizing their sales force|
|Business Impact of Solution||Enhanced sales force effectiveness; increased its ROI from 1.5% to 4.6%|
The sales team is the most crucial tool in any company’s growth trajectory. This group is responsible for building customer relationships and identifying potential new business opportunities. With the help of sales analytics, organizations can optimize their sales force performance, increase their sales output, and improve client engagement and retention.
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Sales Force: The Breadwinners of Organizations
Gone are the days when more people meant more sales. Today, demanding customers, longer sales cycles, and the numerous hurdles in turning calls and meetings into successful sales necessitate a competent sales force. Thus, to leverage the true potential of the current sales force, sales processes must be made more efficient with the help of data-driven insights from advanced sales analytics solutions.
About the Partner
Our partner is a leading pharmaceutical company with a presence in over 80 countries. Its current sales force comprises over 8,000 medical representatives. Headquartered in the US, and generates roughly USD 550 million in annual sales.
Although the Pharmaceutical organization has a broad range of successful products, including drugs for lowering cholesterol, anti-inflammatory drugs, they wanted to increase the reach of these products by optimizing their sales force. They also wanted to implement data-driven decision-making to transition from the old-school product-centric sales approach to a more customer-centric model.
Quantzig focused on implementing a sales force optimization strategy to boost the Pharmaceutical organization’s sales efforts. We integrated our automated, personalized, and interactive SFE tools and dashboards with customer behavioral patterns that generated essential insights. These insights ranged from market trends to sector-wide performance indicators, helping our partner keep up with an ever-shifting industry.
SFE tools and dashboards also sorted relevant KPIs and identified those aligned with the company’s objectives, which helped the representatives prioritize their work. Specific KPIs were included to enhance the effectiveness of the pharmaceutical sales force, like selling skillsets; product information; listing of specialists, doctors, hospitals, and other customers; covered areas and locations; and allocated targets vs. targets achieved.
Our performance analytics solution also helped our partner ensure a smooth transition from a product-driven sales approach to a more customer-centric pathway.
With insightful data at disposal, our partner enhanced its sales force effectiveness and increased its ROI from 1.5% to 4.6% across different levels in FY2020-2021. Using data-driven, actionable insights also enabled them to focus on relevant customer data, optimize decision-making, enhance sales force productivity, and drive customer retention. Our AI-powered sales analytics solutions also helped our partner understand the changing healthcare market landscape and increase their competitiveness.
- Sales force optimization enables organizations to integrate different tools and dashboards with customer behavioral patterns that generate essential insights
- Using data-driven, actionable insights helps organizations focus on relevant customer data, optimize decision-making, enhance sales force productivity, and drive customer retention.
Tap into strategic and technical sales insights without investing in more resources. Understand customer needs and expectations better with sales force optimization. To leverage our solutions, request a free dashboard demo today!
We have already covered the topic of sales force performance optimization for a leading medical devices organization. If you want to discover how performance optimization assures 17% increase in deal wins, we recommend you to take a look at our post.