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Advice You - Sales Success Is Not About Increasing Sales
Sounds crazy doesn’t it? But, remember the emerging role of the sales professional today is not to increase sales. Let me repeat that--- The sales person’s role today is not to increase sales. The role of a sales professional today is to systematically and consistently increase the number of customers who choose
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
you to be their #1 supplier........
You must become----THE SUPPLIER OF CHOICE---- which means you always get-----THE FIRST CALL----and THE LAST LOOK!
Don’t make the rookie mistake of thinking that your customers don’t give last looks. If your customer doesn’t give you last look. That means somebody else is getti
You must become----THE SUPPLIER OF CHOICE---- which means you always get-----THE FIRST CALL----and THE LAST LOOK!
Don’t make the rookie mistake of thinking that your customers don’t give last looks. If your customer doesn’t give you last look. That means somebody else is getti
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
ng it. It’s time to evaluate the relationship equity you have built in that account.
Sales representatives that achieve success today are successful because they gain the majority of their targeted customers business. They manage the relationship and continuously build relationship equity. That doesn’t mean they
Sales representatives that achieve success today are successful because they gain the majority of their targeted customers business. They manage the relationship and continuously build relationship equity. That doesn’t mean they
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
operate with the old lone wolf mentality chasing every order and doing everything under the sun for the customer. They are successful because they take full advantage of all the resources their company has to offer. Transactions and promos flow through a managed relationship that involves their entire team. They a
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
lso dedicate a specific amount of their time to new account development and penetration of those accounts with high potential rather than over providing service functions to existing maintenance accounts. Personal Buddy Calls are limited and they focus on providing solutions regardless of the relationship to the p
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
roducts they carry. They have become “Total Solution Providers”.
The formula for success is simple:
FIND THE CUSTOMERS PAIN --------------- TAKE THE PAIN AWAY
SET YOUR PRICE
Customers will pay plenty, if you can reduce their “PAIN” This is the evolving role of 21st century field sales professio
The formula for success is simple:
FIND THE CUSTOMERS PAIN --------------- TAKE THE PAIN AWAY
SET YOUR PRICE
Customers will pay plenty, if you can reduce their “PAIN” This is the evolving role of 21st century field sales professio
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
nals.
Find out what the customer’s problems are and where they are in pain.
Look at it from their point of view, not yours.
Customers no longer spout off about quality products and reliable deliveries. That’s a given. Although all customers are trained to say “Your Price is to High”, if you find their pain and
Customers no longer spout off about quality products and reliable deliveries. That’s a given. Although all customers are trained to say “Your Price is to High”, if you find their pain and
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
resolve it, price is not an issue.
Some Pain Examples
• Recruiting & retention of employees
• Training of employees
• Getting and keeping customers
• Emergency crises
• Business management skills
• Constant stream of new competitors
• Profitability
• Inventory management
It’s about Value
Today it’s not
Some Pain Examples
• Recruiting & retention of employees
• Training of employees
• Getting and keeping customers
• Emergency crises
• Business management skills
• Constant stream of new competitors
• Profitability
• Inventory management
It’s about Value
Today it’s not
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
about the features and benefits of your product. It’s about value and how your customers are going to make a profit. You no longer just sell yourself and everything falls into place. Today, relationships are still very important but they are the ante to play. Customers are smarter and more educated. You must bring
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
every resource your company has into play and leverage those resources to create competitive advantage. Learn to really listen to your customers. Let them talk and when there seems to be a pause in the conversation resist the temptation to start talking again. Chances are good that the customer has more to say. T
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
e quieter you are the more they will tell you. Listen long enough with a few strategically placed questions and the customer might just tell you exactly how to gain his business. (And it won’t just be about price)
Effective Sales Management
Effective sales management is also a key ingredient. It includes plannin
Effective Sales Management
Effective sales management is also a key ingredient. It includes plannin
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
g sales growth, executing account strategies and using objective feedback to continuously improve performance and drive accountability. This means an effective sales process and structure must be in place which includes metrics, training and resources to support and improve sales performance. This means the sales
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
manager must be skilled at coaching and mentoring.
Effective sales management is not rocket science: “You measure results but you manage the activities that create those results.” Although the transition from activities to results can be almost immediate in demand fulfillment activities, it can become an extende
Effective sales management is not rocket science: “You measure results but you manage the activities that create those results.” Although the transition from activities to results can be almost immediate in demand fulfillment activities, it can become an extende
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
d period for demand creation and account development. Consequently, managing results is like closing the barn door after the horses are out of the barn. It’s just too late. The results you measure today are often created by activities that took place weeks and even months previously. To effectively manage sales it
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
is imperative to define the specific activities necessary to drive results. By then managing those activities, success becomes much easier to achieve. Sales management must become skilled at helping the sales force develop their territory plans, select their target accounts and create individual account strategie
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
s that will increase penetration and increase market share. The key is defining the activities necessary on an account by account basis that will create the desired results.
Sales Strategists
As today's sales environment leans toward a more multifaceted atmosphere, salespeople must become strategists with a plan
Sales Strategists
As today's sales environment leans toward a more multifaceted atmosphere, salespeople must become strategists with a plan
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
. This plan requires more knowledge about the business, better relationships and better solutions. Once you have accumulated this knowledge, utilize it. Develop your penetration strategy around the customer’s pains. What challenges do they face on a day to day basis? How do they make money? Where can you provide v
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
alue, increase their ability to make profit. (This does not include price reductions). Employ all the resources in your company that are necessary to accomplish your growth objectives.
Nowadays, salespeople must be problem solvers able to generate solutions for customers in their time of need. Therefore, they mus
Nowadays, salespeople must be problem solvers able to generate solutions for customers in their time of need. Therefore, they mus
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
t possess a great deal of knowledge about your customers' business. They must actually define what those needs are because the customer may not know, nor take the time to explain if they do know. Customers want you to have the knowledge and intelligence to comprehend and analyze their problems before showing up at
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
their door. Customers will listen and buy from the salesperson that finds the "pain" and takes it away.” That means sales people have to become “Sales Strategists”. Register for CEO Strategist’s monthly newsletter and download your fre*e 32 page copy of “Sales Training 101 – Conducting Effective Training Sessions
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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