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A Forthcoming Shift of Pharmaceutical Sales Compensation Plans?

OpenSymmetry

Sales in the pharmaceutical industry has been a rigid and consistent business. Tactics may have changed, but for the most part these sales teams still run on a commission or quota based metric determined by well-planned territories. In some cases, incentive compensation (IC) methods have evolved to align with new regulations regarding specific sales metrics.

A Forthcoming Shift of Pharmaceutical Sales Compensation Plans?

OpenSymmetry

Sales in the pharmaceutical industry has been a rigid and consistent business. Tactics may have changed, but for the most part these sales teams still run on a commission or quota based metric determined by well-planned territories. In some cases, incentive compensation (IC) methods have evolved to align with new regulations regarding specific sales metrics. For example, Corporate Integrity Agreements (CIAs) were implemented by the DoJ as a way to curtail off-label drug promotion which forced companies to ensure their sales incentives encouraged proper compliance.

Boost sales by understanding healthcare economics

Sales Training Connection

MedTech sales. ORTHOKNOW asked Dick to prepare an article for its August issue on sales and understanding healthcare economics. Technorati Tags: biotech sales , biotech sales training , medical capital equipment sales , medical sales , medtech sales , medtech sales training , orthopedic sales training , pharma sales.

Medical device sales success – an urgent need to do something different – An STC Classic

Sales Training Connection

Key Account Managers (KAMs) in Medical Device Sales . Before we examine some of the advantages, it is important to note that KAMs are not just territory sales reps with another label. This level and type of conversation is now a requirement for sales success. Sales training for KAMs is not just more of the same. So, let’s explore the next step – Sales Training 2.0.

Pharma sales – it’s a different world

Sales Training Connection

Pharma sales. Pharma sales reps in the U.S. If you observed the world of Pharma sales in a rear view mirror, growth was the name of the game. Today, Pharma sales forces are being downsized. There are a number of reasons why these companies are reducing the size of their sales forces. 2013 Sales Momentum ® LLC. The Wall St.

Getting MedTech Sales Strategy Right – A FREE Sales Momentum White Paper

Sales Training Connection

Shifting decision-makers, rising number of new influencers, pricing pressures, increasing consolidation, and consumerizing healthcare will require MedTech salespeople to redefine their sales strategies to continue growing the business. Having a superior sales force is a key to sustaining a competitive advantage in MedTech accounts. 2014 Sales Momentum, LLC.

MedTech sales – financial impact of measuring patient satisfaction

Sales Training Connection

MedTech sales. What does all this mean for MedTech sales? . This impacts various components of the sales process from the background information required for sales call planning, to whom will be required to participate in the sales cycle from the selling organization, to what the value discussion will look like. 2014 Sales Momentum, LLC.

Medical sales – Blog Round-up – Fall 2012

Sales Training Connection

Medical Sales Round Up. If you missed some of our medical sales and medical device blogs posts, here’s a chance to look at our most popular posts appear during the Fall 2012 – in the Medical Sales – Blog Round-up. Click here.

Pharma – new challenge, new sales strategy, new sales training

Sales Training Connection

Pharma - new challenge, new sales strategy, new sales training. We’ve been in the consultative sales training business for more than 30 years. Over the last dozen or so years, we specialized in sales training for the health care market. Well, with that hint about consultative selling, you probably got the right answer – pharmaceuticals. sales force by 24%.

MedTech clinical staff – invite them to the sales training party

Sales Training Connection

MedTech clinical staff + sales training. Because of the transformation changes in the healthcare buying environment, many MedTech companies either already have or are now seriously considering leveraging the clinical support staff to participate more actively in the sales effort. This raises the question of how to engage the clinical staff in sales training ?

10 Sales Tactics Guaranteed to Capture Your Prospect’s Attention

Pipeliner

I recently uncovered some compelling data in a series of conversations I had with decision makers representing several industries, including: insurance services, publishing, hospitality, communications, manufacturing, hardware supplies, a post-secondary institution, and pharmaceuticals. I asked them the [.] Social Selling

Hospital sales – business-as-usual will be business lost to competitors

Sales Training Connection

For example, hospitals are continuing pursuing mergers and acquisitions , purchasing physician practices and hiring sales people to call on physicians to increase referral rates. So for those of us interested in sales what do we need to do in order to be responsive to these changes so we can continue to be successful? Existing Sales Force. Sales Managers.

Medical sales – grabbing physician attention – An STC Classic

Sales Training Connection

This lament is familiar from patients – and we’re certainly hearing it from sales people selling in the medical space. It’s no wonder sales people often hear from docs, “I’m too busy to talk right now.”. The key to this approach is the sales rep is not only being mindful of the physician’s time, there’s a second piece to the story – having something of value to share with the doc.

MedTech sales – the declining advantage of superior technology

Sales Training Connection

Medtech sales. ” The BCG report goes on to suggest that MedTech companies must also invest in reinventing their sales team to reflect the shifts in the buying process. Let’s explore that recommendation starting by examining the nature of the shift in the buying process and then exploring some suggested changes for the sales process. Sales Process. Buying Process.

MedTech sales – understanding healthcare value propositions is a new key to success

Sales Training Connection

MedTech Sales. On the sales side of the table that means you have to be aware of the change, understand the business and financial consequences of new value proposition, and most importantly adapt your selling process accordingly – that means in most case sales training needs to be invited to the party. Interested in MedTech sales? 2014 Sales Momentum LLC. Access.

Getting MedTech Sales Strategy Right – white paper now on Kindle and iTunes

Sales Training Connection

Now you can – Getting MedTech Sales Strategy Right – is available on those formats. To access the Getting MedTech Sales Strategy Right – download here: iTunes (iBook) (free). Technorati Tags: biotech sales , healthcare sales , medical device sales , medtech sales , pharma sales , sales training. Kindle ($.99).

Medical sales – blog round-up – Summer 2011

Sales Training Connection

Medical Sales. If you missed some of our medical sales and medical device blogs posts, here’s a chance to look at our most popular posts appear during the Summer 2011 – in the Medical Sales – Blog Round Up. Click here to take a read … If you find the Medical Sales – Blog Round Up helpful, why not subscribe to the Sales Training Connection ?

Emerging trends in medical device sales – podcast

Sales Training Connection

Why are hospitals hiring medical device sales reps? Better yet, why are medical device sales reps pursuing new careers with hospitals and what are the future implications of this interesting trend? Selling medical devices. Want to listen to the podcast or read the transcript of the interview? You can find it here in Scott Nelson’s Medsider … just click here !

MedTech sales: when customers change – so must you

Sales Training Connection

Transformation changes affecting medical sales. If you are a Medtech company, a piece of the puzzle for being among the winners is making the investment in your sales team commensurate with the need for change and the opportunity to benefit. If you found this post helpful, you might want to join the conversation and subscribe to the Sales Training Connection.

Think Robots Will Replace B2B Sales Reps?

No More Cold Calling

Eliot Burdett, CEO of Peak Sales Recruiting, explains why in this month’s guest post. Have B2B sales reps gone the way of CD players, the Rolodex, and analog radio—replaced by technology that gets the job done faster and better? Some take this to mean that our prospects and clients don’t really need us anymore—that the automation of selling has made B2B sales reps irrelevant.

B2B 112

Medical Sales – Blog Round-up – Winter 2013

Sales Training Connection

Medical Sales Round Up. If you missed some of our medical sales and medical device blogs posts, here’s a chance to look at our most popular posts appear during the Winter 2013 – in the Medical Sales – Blog Round-up. Click here.

52 Sales Management Tips – the Sales Manager’s Success Guide

Smart Selling Tools

I recently read 52 Sales Management Tips – The Sales Manager’s Success Guide by Steven Rosen. Written for sales managers and small business owners, this is a guide every sales leader will benefit from. It’s packed with excellent tips and ideas to help you take your sales force to the next level. Who is Steven Rosen? What the Book Offers. The Take-Away.

Sales middle managers – what motivates them the most?

Sales Training Connection

Sales Middle Managers. The results are part of Insigniam’s 2014 Middle Management Survey, which is based on responses from 200 managers in Global 1000 companies from several industries, including healthcare, pharmaceuticals, chemicals, energy, manufacturing, and biotech. 2014 Sales Momentum, LLC. Technorati Tags: mid-level sales managers , sales leaders , sales managers.

Get on the Podium in 2012

Steven Rosen

Once upon a time, all sales managers were sales people. Most sales reps are type “A” personalities; they are driven and competitive. So it’s not surprising that when I sit down with sales managers to discuss their goals for the next year, one of the most common themes is to be the #1 region/area in the country. What sales management activity drives sales performance?

Medical device sales – tips to leverage the power of storytelling – An STC Classic

Sales Training Connection

Sales and storytelling – a powerful combination! We’ve written extensively about the power of storytelling noting that success comes more quickly to sales reps who are able to share engaging stories that resonate with the listener. Those tips work with all B2B sales. But what about something specific for medical device sales ? 2012 Sales Horizons, LLC.

Sales training myopia of tech start-ups

Sales Training Connection

Sales Training and Start-ups. However, since we are in the sales training business we were particularly interested in what was being said about creating innovative sales training and developing a superior sales team. Sales training was not on the radar screen. Now you do need a skilled sales force. Why do some start-ups make it and some don’t?

Medical device sales – 8 questioning traps hindering sales success

Sales Training Connection

Medical device sales people are often coached to “talk a little bit less and get better at asking questions.” Most sales people talk too much, listen too little and don’t ask enough questions. . Unfortunately, the sales person usually is intent on asking the pre-planned questions and regardless of what happens during the call, those questions are asked!

College graduates – should you consider a sales job?

Sales Training Connection

Sales reps and new college grads. From time to time we come across articles that tell a tale of doom for Sales as a career. The stories predict dramatic reductions in the number of sales reps as the future unfolds. So if you are in Sales or are thinking about it, it is only a journey for the occupational brave-of-heart – so they say. 2015 Sales Momentum, LLC.

Self-Responsibility: The First Trait of a Great Salesperson

Pipeliner

There are probably thousands of sales trends, approaches, tips and tricks out there–just go to Amazon or any bookstore and look through the titles. Additionally there are hundreds or thousands of technological tools for sales –lead programs, CRM, sales enablement, contact management solutions and many more. The question becomes: will a sales methodology or a software solution make for a successful salesperson? With Pipeliner CRM’s Navigator feature, a salesperson, team or sales manager is consistently and exactly focused on priorities. Systems.

How to Organize Your Sales Force to Generate More Revenue

Sales Benchmark Index

This post is focused on organizing sales talent to help you make the number. The cost of sales is increasing. Hiring ‘A’ player sales reps is expensive. A symptom of this is: your revenue trends haven’t increased with your sales expense. To learn more about designing sales organization models, sign up for SBI’s 7 th Annual Research Session. Sales rep turnover.

Overcoming “Failure to Impact” Syndrome

Steven Rosen

This year was tough; next year’s sales prospects look even tougher. Your boss comes to you and says how can you sustain the sales force? Hire only top sales reps. Here are a couple of questions I would ask: Are your sales reps making a difference? Do your sales reps make impact on each call? Do they actually make a difference in the sales in their territory?

Medical sales – grabbing physician attention

Sales Training Connection

This lament is familiar from patients – and we’re certainly hearing it from sales people selling in the medical space. It’s no wonder sales people often hear from docs, “I’m too busy to talk right now.”. The key to this approach is the sales rep is not only being mindful of the physician’s time, there’s a second piece to the story – having something of value to share with the doc.

Announcing Free Pharmaceutical Sales Training & Medical Device.

Paul Cherry's Top Sales Techniques

Sales Training & Management Workshops | 302-478-4443. Corporate Sales Training. → On-Site Sales Training. → One-on-One Sales Coaching. Sales Management Training. → Sales Management Coaching. QuestionsThatSell™ QuestionsThatGetResults™ Managing Distributor & Independent Sales Rep Relationships. Sales Store. Distribution Sales Training. Hospitality Sales Training. Manufacturing Sales Training. Medical Device Sales Training. Pharmaceutical Sales Training. About Us.

New Survey Highlights Sales Management Skills and Development Priorities

Steven Rosen

STAR Results) has launched its global 2015 STAR Sales Manager Survey. The Sales Manager Survey seeks opinions and perceptions from sales executives and leaders around the world on key skills and development priorities for sales managers. The goal of the study is to help organizations better meet the developmental gaps of their frontline sales managers. Trainers.

Poor Listening Skills Sabotaging Your Sales Career?

The Sales Hunter

And if you aren’t really listening to your customer, you could miss vital information that not only will affect your sales success, but more importantly will affect your relationship with that customer. Not long ago, I was doing some consulting work for a pharmaceutical company. As we went into the office, the sales representative asked if a certain doctor was available.

Is Your Customer at the Center of Sales Onboarding?

Sales Benchmark Index

As an experienced sales leader, new hires are essential to Making the Number. Sales and HR leaders often misdiagnose the root cause of long ramp times. When new hire sales reps are not productive, take a look at onboarding. This post is for sales leaders and their HR business partners. Sales Onboarding vs. Sales Training. Their success is your success.

The Global 2015 STAR Sales Manager Survey

The Pipeline

As we rush headlong in to the New Year, my next three posts will feature things sales leaders should be thinking about to drive success for their teams and their companies. STAR Results) , The Global 2015 STAR Sales Manager Survey. The goal of the study is to help organizations better meet the developmental gaps of their frontline sales managers. Regional Sales Directors.

Eating with the Big Dogs–Taking the Next Big Step in Your Sales Career

Sales and Management Blog

Last summer I re ceived an email from Beth, a pharmaceutical salesperson with slightly more than two years of experience, asking me what she should be doing in order to take the next big step in her career. In response to my question as to what she was currently doing to improve her sales she responded that she was taking advantage of all the training her company provided, was an avid reader of sales books, and constantly talking to her colleagues about what they found worked and what didn’t. She feels she still has a lot of sales training to go through. Not at all.

Asking Probing Questions will help Pharmaceutical and Medical.

Paul Cherry's Top Sales Techniques

Sales Training & Management Workshops | 302-478-4443. Corporate Sales Training. → On-Site Sales Training. → One-on-One Sales Coaching. Sales Management Training. → Sales Management Coaching. QuestionsThatSell™ QuestionsThatGetResults™ Managing Distributor & Independent Sales Rep Relationships. Sales Store. Distribution Sales Training. Hospitality Sales Training. Manufacturing Sales Training. Medical Device Sales Training. Pharmaceutical Sales Training. About Us.

Smart Selling Visions: Up-Close with Top Revenue Leader CEO Duncan Lennox of @Qstream

Smart Selling Tools

Every two weeks, I interview an executive from a top sales and marketing solutions company. What problem/s are you solving for sales and/or marketing organizations? They are reaching out to their friend Google instead.) This gives a very narrow window within which a sales rep must be able to add value for a prospect. It’s like Jeopardy for your sales force.