Analyzing the Shifting Market Dynamics Through Sales Force Effectiveness Analytics
The latest sales force effectiveness analytics by Quantzig for a leading pharmaceutical manufacturer identifies different metrics to measure the efficacy of their existing sales force.
Need for sales force optimization in the pharma industry
The implementation of an effective sales force is one of the most valuable channels to understand physicians and customers’ requirements in the pharma industry. The optimization techniques adopted by the companies in the industry will help them in developing and restructuring sales models around physician access and specifying channels. The adoption of sales analytics and other optimization tools by leading companies will support the sales force’s needs and find new opportunities to improve their productivity. These strategies are developed to align with the various strategic goals of the sales force and the business. This analytics further enhance the sales force decisions by supporting their ongoing sales needs and addressing all the issues of the business. Quantzig’s sales force effectiveness analytics helps pharmaceutical companies allocate more promotional efforts and target new types of customers. The study also improves the quality of decisions made by managers, salespeople, and industry leaders.
The increasing focus on promotions and R&D campaigns are raising the requirement for business to streamline their operations to align it with development goals and the customer preferences. The companies in the industry are also focusing on developing effective sales strategy, designing incentive compensation plans, sizing and structuring the sales force, setting goals, and managing sales performance to build stronger customer relationships and increase their sales revenue.
Adoption of CRM tools and analytics
Customer relationship management (CRM) is essential for sales force optimizations. Effective CRM models will help pharma companies to evaluate and assess their customer base, expand into a larger target group, and retain the maximum number of end-user. The introduction of digital selling platforms and smart direct marketing efforts will optimize the sales force and increase their productivity. CRM is important to build strong and long-lasting relations with the consumer and also to understand the buying preferences and demand trends in the market. Successful CRM models help the sales force deliver customized information to both the customer and physician, thereby increasing the interaction levels between the company and end-user segment.
Multi-channel service models
The implementation of multi-channel service channels will help companies to optimize the allocation of the sales force and generate high ROI. These channels are designed to target the needs of the end-user segment and help sales force to provide effective services to the healthcare professionals and customers. The introductions of multi-channels help companies to implement service standards across different media and offer quality customer services through different platforms. These channels are also used for direct interaction with the customer and proactively offer solutions that may arise in the future.
Outcomes and solutions offered
The sales force effectiveness analytics by Quantzig for a leading pharmaceutical manufacturer provides a holistic profile of physician needs to foster different products and stay ahead of the shifting market dynamics. Some of the solutions offered are as follows:
- Analyzed various sales data, physicians’ needs, and customers’ needs to develop new sales strategies
- Evaluated the performance management of the sales force and helped the client develop a sales map for success
- Designed new incentive plan to encourage and drive results among the existing sales force team
- Optimized sales process for maximum purchase value and sales performance
- Improved hiring and retention of sales staff to perform at their best
The complete case study on sales force effectiveness analytics for a leading pharma company is now available.
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