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Best Practices in Pharmaceutical Sales


 50 Info Graphics
 20 Metrics
 148 Narratives
 35 Best Practices

Pages: 203

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Best Practices in Pharmaceutical Sales

ID: SM-134

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It is a challenging time for sales forces across all industries, especially in the pharma arena. Facing limited time with customers and growing competition, field sales forces need to perform at best-in-class levels to keep the top line growing. Based on more than 100 one-on-one interviews with top performing sales reps and other benchmarking data, this report will enable your company to identify gaps in sales force effectiveness and identify proven practices to set you on path to creating a world-class sales force. 

Sales, marketing and training directors and vice presidents at pharmaceutical companies and other industries can use this report to improve rep effectiveness and efficiency by training their sales forces to perfect personal selling styles, build strong doctor relationships, and create customized sales approaches. Topics explored in the report include:

1. Greater sales force operating efficiency
2. Sales and revenue growth
3. Increased value of the rep-doctor relationship
4. More profitable targeting methods
5. Enhanced rep-DM relationships
6. Increased return-on-investment from sample distribution and speaker programs
Industries Profiled:
Pharmaceutical; Health Care; Shipping; Biotech; Medical Device; Chemical; Computer Software; High Tech; Manufacturing; Computer Hardware; Computers; Telecommunications; Distribution; Retail; Internet; Financial Services; Consulting

Companies Profiled:
AstraZeneca; Merck; GlaxoSmithKline; Federal Express; Eli Lilly; Pfizer; Roche; Janssen; Bristol-Myers Squibb; Schering-Plough; Eastman Chemical; Microsoft; IBM; Xerox; Hewlett-Packard; Verizon; Fingerhut; Staples; USAA; PricewaterhouseCoopers

Study Snapshot

This pharmaceutical sales report focuses on best practices in six major areas: planning and targeting, conducting office calls, relationship management, sample management, program management and sales force management.

Findings were harvested from extensive research and interactions with the highest performing members of leading pharmaceutical companies. Top performing sales reps and district managers were selected through a rigorous screening process that reviewed various performance factors over a five-year period. Project findings were developed from the following sources:
  • More than 100 one-on-one interviews with sales reps in the top quintile of performance.
  • 25 rep rides in the top 1% of performance.
  • 10 focus groups involving more than 50 top-performing reps.
  • More than 50 interviews with top-performing district managers.

This 193-page study also includes additional benchmarking analysis and interviews with more than 40 companies across 16 industries. In addition, this report complies with the PhRMA Code on Interactions with Healthcare Professionals. The comprehensive nature of this study provides a 360-degree view of the strategies and tactics used by top-performing sales reps.

Key Findings

The following key findings emerged from this extensive primary research:
  • Continuously probe physician office culture, policies and preferences to create a customized sales approach.
  • Build rapport with physicians by openly discussing goals, office service needs and personals needs.
  • Manage and allocate samples to physicians according to prescription volume and by coaching doctors on the use of samples.
  • Create relationship-building programs to meet specific customer needs and preferences.
  • Manage sales reps by developing measurable goals, budgeting sufficient resources and providing continuous coaching.
  • Empower reps to align planning, targeting and scheduling activities to reflect their personal selling approaches. 
Table of Contents

Executive Summary
Project Methodology 
Report Design and Structure 
Conclusion and Next Steps 

Chapter I: Planning & Targeting
Territory Targeting 
Planning to Build Sales Efficiency 
Developing a Strategic View of Targets and Territory 
Building Schedules 
Optimization Schedules. 
Designing the Territory Call Route. 
Growing Territory Potential 
Executing Your Plan 
Goal Setting. 
Time and Activity Reviews 

Chapter II: Total Office Call
Probing for Strategic Information 
Navigating the Customer Environment 
Detailing Effectively 
Managing Accounts for Optimal Data Collection. 
Develop Professional Skills. 

Chapter III: Relationship Management
Initiating Relationships By Learning Customer Needs 
Growing Relationships Through Value Added Service  
Capitalizing on Key Relationships 
Selecting Valuable Relationship Building Opportunities 

Chapter IV: Sample Management
Allocating Samples to Maximize Revenue. 
Detailing with Samples to Add Value. 
Accounting for Samples Efficiently. 

Chapter V: Program Management
Designing Programs and Setting Goals 
Selecting Effective Speakers. 
Improving Audience Attendance 
Optimizing Program Value and Administration 

Chapter VI: Sales Force Management
Managing for World Class Performance 
Communication Techniques 
Developing Strategic Focus and Increasing District Productivity 
Selection and Recruitment of Successful Sales Representatives 

PhRMA Code

List of Charts & Exhibits

Benchmark Class Table
Sales Process Map
Best Practice Blueprint for Growth
Sales Targeting Prioritization Matrix
Customer Profile CRM Screens
Customer Segment Analysis
Itinerary Planning Worksheet
Territory Analysis Chart
Route Design Checklist
Route Design & Territory Management
Team Selling Information Sharing Checklist
Call Reporting Sample
Key Influencer Tracking
Plan of Action Model
Time Management Diary
Personal Goal Setting Checklist
Time Effectiveness Checklist
Office Culture Analysis Checklist
Strategic Information Gathering Table
Selling Effectiveness Case
Office Call Analysis Pyramid
Sales close Archetypes
Sales Close Process Map
Customer-centered Sales Model
Patient Information Selling Aid
Reclaiming Neglected Territories
Thought Leader Growth Map
Code of Ethics
Institutional Customer Feedback Form
Sample Allocation Planning Tool
Sample Allocation Process Map
Coaching Techniques Table
Sample Reporting Forms
Sample Reconciliation Form
Speaker Screening Checklist
Improving Audience Attendance Tip Sheet
Optimizing Program Attendance
Non-financial Incentives
Sales Manager Performance Review
District Budgeting Template
Managed Care Influence Table
Sales Rep Selection & Recruitment Checklist
Recruitment Interview Planning Grid
District Managers Recruitment Questions
PhRMA Code on Interactions With Healthcare Professionals

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