Selling in the Pharma Sales strategy is very different to other industries due to the nature of the product offering. There are a number of key factors to consider, including heavy regulation, ethical issues, key influencers (key opinion leaders) and the overall selling process. Changes in the Pharmaceutical sales model have forced Global Pharmaceutical Sales Leaders to invest in new selling strategies in recent years.
EVOLVE OLD STRATEGIES
Implementing Key Account Management has proven successful. Even so, more and more resources are being allocated to novel methods of reaching customers, despite no clear and proven ROI for these activities. In addition, this also seems to suggest it may be due to a lack of knowledge or skills when implementing digital pharma sales strategy.
RETURN ON INVESTMENT?
Lack of a measurable ROI is a common problem reported for NCMs, especially for digital and content tools. Respondents stated that digital tools have a troubling lack of focus in their application as well as some “meaningful benchmarks to assess success”. Digital tools will require more education on behalf of those who implement them to ensure success.
MIXED RESULTS
First of all, while many execs appreciated the speed and reach that these digital tools can provide, it was also noted that they did not employ effective targeting methods. Content strategies such as Above the brand services and joint research/analytics had delivered poor ranking as a result. They saw roughly equal levels of satisfaction/dissatisfaction.
In addition, there was also a difficulty noted in measuring the ROI of these approaches. This can sometimes be a problem with a poorly implemented content strategy. Hence, this contrast could indicate that the success may depend more on execution and is company or brand-dependent.
A standout sales manager can be the catalyst for a pharma team’s success, driving strategy, building a cohesive team, and managing budgets and resources in a way that dramatically benefits the business.
Whether you’re looking to become an exceptional pharma sales manager, or are looking to recruit a star sales manager to run your team, here are the critical qualities that you should be seeking.
They have to be able to wear multiple hats.
A sales manager is almost always promoted to their position because of an impressive history of sales success, but that is not enough to even ensure they will be a competent sales manager, let alone a great one. The best managers are highly adaptable and well-rounded, able to switch from a big-picture strategy to analysing daily sales figures, and from balancing the budget to intervening smoothly in a team conflict.
They treat each salesperson as an individual.
Some pharma managers have a particular style of management, whether authoritarian, easy-going, high praise or hands-off, and expect everyone to adjust accordingly. Star managers, however, know that different people respond to different management styles, learning styles, and motivational techniques and the manager then adapts to the individual’s preferences accordingly. The importance of a manager being adaptable in this way to get the best results from their team cannot be overstated.
They are organized and detail-focused.
It is not enough to be inspirational. Sales managers who talk big but fail to keep momentum, or are unreliable or erratic in the delivery of their plan, are doomed to failure. A top pharma sales manager will be extremely detail-focused and have a step-by-step plan for the project.
