Increasing Wallet Share with the Help of a Sales Force Effectiveness Model – A Sales Analytics Engagement
Sales Force Effectiveness: Top 3 Trends The rising costs, regulatory changes, intensifying competition, and fluctuating market forces have given rise to a more demanding customer base, causing a sharp decline in income growth and profit margins. In addition, factors such as- longer sales cycles and difficulty in leveraging sales have necessitated a competent sales force […]READ MORE >>
Sales Force Effectiveness: Top 3 Trends
The rising costs, regulatory changes, intensifying competition, and fluctuating market forces have given rise to a more demanding customer base, causing a sharp decline in income growth and profit margins. In addition, factors such as- longer sales cycles and difficulty in leveraging sales have necessitated a competent sales force effectiveness model, throwing light on the importance of efficient sales processes and the technology behind them.
To help you hit your growth targets we bring to the key trends in sales force effectiveness:
Trend #1 – Organizations are adapting to their millennial sales force
Trend #2 – The buying process is getting shorter
Trend #3 – Organizations are focusing on measuring the metrics that matter the most
Within the context of sales force effectiveness Quantzig possesses several years of expertise in working with organizations that aim to enhance their sales performance, shorten the sales cycle, and improve sales through the effective use of a sales force effectiveness model. Our sales force effectiveness model revolves around – organizational restructuring, performance management, and sales strategy development. We also offer customized sales analytics solutions to organizations that are geared toward enhancing sales force effectiveness and simplifying sales processes through the integration of technology and analytic methodologies.
The client is a multinational pharma industry player based out of Canada. Nurturing a century-old commitment to excellence and integrity, this organization has been a forerunner in the global pharma industry.
Project Background and Solution Offered
The client- an eminent pharma industry player primarily focused on the R&D and marketing of prescription drugs in five therapeutic medicinal categories. But this only resulted in shrinking revenues, declining sales force productivity, and unproductive sales time. Facing a decline in the market share for their flagship products, the pharma industry player collaborated with Quantzig to develop robust strategies to increase the sales force effectiveness of their products. Quantzig’s team of sales force analytics experts taped into qualitative and quantitative data from several data points across their business units. This helped them analyze data from more than 80 specific data points to take a fresh look at its sales opportunities.
The devised sales force effectiveness model helped revamp the pharma industry player’s sales functions and associated practices to enable the expansion of wallet share without any additional investment. By prioritizing new opportunities, reorganizing sales operations and encouraging winning behaviors, the pharma industry player was better positioned to improve sales performance and restore revenue growth after years of decline- all with the help of a new sales force effectiveness model.
Value Delivered to the Client
The sales force effectiveness model enabled the pharma industry player to revamp their sales operations and increase wallet share by 15%. The sales force effectiveness framework offered a holistic view of sales activities and related operations across the client’s business units. Other than major improvements in the wallet share the pharma industry player gained detailed insights into the sales maneuvers and concepts that would help them enhance sales force effectiveness.
Our sales analytics experts can help you achieve your goals to drive stronger top-line and bottom-line results. Get in touch!