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Advice You - The Truth About Sale Success!
Bill Brooks of The Brooks Group wrote an article several years ago about his organization’s research into sales performance. Bill’s research partner analyze
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
d 178 top sales performers from the United States and another 450 from Germany who, as he stated, “…were at the very peak of their game.” These top sales pr
; 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
ofessional were analyzed in two key areas behavioral style (personality) and core values. Here’s what the Brooks Group researchers learned about sales succ
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ess:
A sales or service industry professional’s personality has little or nothing to do with his or her sales success levels. The Brooks research found tha
A sales or service industry professional’s personality has little or nothing to do with his or her sales success levels. The Brooks research found tha
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
t there was a broad spread of personalities and sales styles across the groups of sales professionals assessed and that “personality characteristics pegged
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
to success” was not a factor in the sales success equation. In truth, the successful sales performer’s personalities varied as much as the products or servi
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
ces that they sold! However, in assessing each sales professional, 78 percent of these top performers all shared the same basic value and that this core val
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
ue was the key to a sales professional’s consistent sales success. What was the value? Across two distinct cultures and a diverse group of industries the co
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
re value driving top sellers was their keen interest in making a lot of money!
What does this research mean to a sales or service industry professional?
1
What does this research mean to a sales or service industry professional?
1
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
. Personality and style are not nearly as important to your sales or business development success as your core values.
2. If you are not motivated by “fina
2. If you are not motivated by “fina
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ncial gain,” it doesn't mean you will fail at sales. However, it does mean that you only have about a 22 percent chance that you will become a top sales pro
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
ducer.
3. If you’re not motivated by making money, as 78 percent of the top sales producers in the study, you will most likely always be an average or belo
3. If you’re not motivated by making money, as 78 percent of the top sales producers in the study, you will most likely always be an average or belo
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
w average sales producer.
4. To be a top producer you need to work for an organization that gives you the opportunity to earn as much money as possible. Th
4. To be a top producer you need to work for an organization that gives you the opportunity to earn as much money as possible. Th
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
e “opportunity” to make money helps to stimulate this vital core value and give you the driving force needed to succeed at selling.
5. You must understand
5. You must understand
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
that motivation to reach the top comes from within—from your values. Your core values are part of your internal "operating system,” that makes you who you r
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
eally are.
6. You really need to find out what “turns you on” and then go for it. You see, there are hundreds of interests that are important to people wit
6. You really need to find out what “turns you on” and then go for it. You see, there are hundreds of interests that are important to people wit
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
h core values other than working toward high economic gain.
Top sales professionals and service industry “rainmakers” earn a lot of money. But as Bill Broo
Top sales professionals and service industry “rainmakers” earn a lot of money. But as Bill Broo
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ks says, “They also want to earn a lot of money. It fuels their self worth and sense of well being. It's how they measure their success.” However, I have ob
.
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
served in my coaching sessions with the top producers that they have additional values that complement their drive to earn money. Most of them are also driv
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
en to solve a prospect, customer or client’s problems and to meet the needs of those they sell, doing something to deserve the money they are driven to earn
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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