BLOG

Top Three Trends in Sales Force Effectiveness

Jul 5, 2017

Sales force effectiveness (SFE) is gaining momentum as organizations seek to improve the productivity and efficiency of the work force. Organizations have realized the benefits of an effective sales force and are devising strategies to leverage it. By improving the sales force effectiveness, businesses strive to make a positive impact on the bottom line growth of the organization. A leading pharmaceutical company leveraged the insights of sales force effectiveness analytics performed by Quantzig. It helped them in profiling the needs of the physicians and accordingly promote different products to stay abreast of the changing market landscape.

In the pharmaceutical industry, companies are turning to sales force effectiveness tools in order to better equip their sales representatives to survive the competition in the market. SFE helps organizations to optimize their sales process thereby creating maximum value for all the stakeholders and driving sales. Sales force effectiveness enables the sales team to be effective by providing customer and product insights. It also helps the businesses to maximize the return on investment (ROI) and thereby drive profitability.

Speak to an analytics expert for detailed insights into our sales force effectiveness solutions portfolio.

SFE involves devising a strategy for the workforce, talent acquisition, designing new compensation, and incentive plans to motivate them and thereby improve the retention rate within the organization. Salesforce effectiveness strategies offer a revised approach towards new market segments and potential customers and boosting the productivity of the sales representatives. In order to improve its sales force effectiveness, organizations must devise strategies that enable its workforce to prioritize work and direct efforts towards high-profit volume segments. Moreover, the organization must keep in mind the three trends of SFE which are as follows-

1. Shorter Processes Lead by High Consumer Awareness

The level of awareness among customers is high, thanks to technological advancements globally. Customers know what they want and the products that can fulfill their needs. As a result, the consumer buying processes have become shorter, eliminating the middlemen. Therefore, it is essential for companies to drive sales force effectiveness and train their workforce to understand customer needs, thereby providing customized solutions. SFE is also important for the sales heads to ensure that the workforce remains updated on the latest trends and developments in the industry so that they can leverage this information to pitch in a better way and close the deals.

2. Younger Work Force in the Organization

Sales force effectiveness is an ideal strategy in today’s market scenario as the majority of the organization’s workforce belongs to the younger age bracket. This millennial generation refuses to work as per the traditional systems and follow the age-old processes. Therefore, improving SFE is vital in order to keep them motivated, designing new incentive and compensation plans, and enhancing their capabilities and skills. In order to deal with this changing labor market scenario, the sales managers need to improve sales force effectiveness by resorting to newer training and guiding methodologies and improving sales training so as to facilitate value creation among individuals.


To know more about sales force effectiveness and trends in the pharma industry, request a demo.


3. Improved Performance Measurement

Earlier, businesses had multiple performance measurement metrics to gauge sales force effectiveness. But today, organizations are treading a more tailor-made path in terms of performance measurement. Instead of having a bunch of unrelated metrics, it now has a few related metrics that directly have an impact on the organization’s bottom line. Improving sales force effectiveness helps measure each sales representative against these pre-decided set of metrics. Therefore, organizations can improve SFE by identifying a maximum of three metrics that matter the most and have a higher impact on the businesses’ bottom line.

Ready to Harness Game-Changing Insights?

Request a free solution pilot to know how we can help you derive intelligent, actionable insights from complex, unstructured data with minimum effort to drive competitive readiness, market excellence, and success.

Recent Blogs

Different Types of Retail Stores in Today’s Marketing World

Different Types of Retail Stores in Today’s Marketing World

If you compare the retail scenario now to that of the early 80s and 90s, you will notice a considerable difference in the type of retail stores that exist. One of the main reasons for this change is the rise of the marketing era. Retailers began to realize that giving...

read more

Industries

Our advanced analytics expertise spans across industries, sectors, and functions, which enables us to deliver robust, agile solutions to all our clients. These are our core competencies, formed through years of experience.

Insights

Our free resources shed light on our extensive expertise and equip you with information to accelerate decision-making, growth, and innovation.