A Forthcoming Shift of Pharmaceutical Sales Compensation Plans?

OpenSymmetry

Sales in the pharmaceutical industry has been a rigid and consistent business. However, a recent article from the Harvard Business Review suggests the stagnant methods of pharmaceutical sales rep compensation may be the root cause of an even bigger public health issue.

A Forthcoming Shift of Pharmaceutical Sales Compensation Plans?

OpenSymmetry

Sales in the pharmaceutical industry has been a rigid and consistent business. However, a recent article from the Harvard Business Review suggests the stagnant methods of pharmaceutical sales rep compensation may be the root cause of an even bigger public health issue. Just like any common pharmaceutical sales compensation plan, sales forces are compensated for educating their territory of physicians and gaining market share through filled and re-filled prescriptions.

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

Sales Training Connection

The medical device market faces transformational market challenges – decision criteria shifting from clinical to economic, decision-making moving from local hospitals to IDNs, the rise of GPOs, and the dramatic impact of new governmental regulations.

Low Risk Marketing with Excellent ROI

Pipeliner

Until you’ve got money to burn, it makes sense to stick with marketing techniques with a track record of good return on investment. Cost-effective Marketing Strategies. Here are four low/no-cost marketing tools that have proven effective for hundreds of years, minimum.

ROI 61

Pharma sales – it’s a different world

Sales Training Connection

On the other side of the table with fewer sales reps seeing physicians face-to-face, physicians have come to accept the new normal – fewer free office lunches, reduction in paid speaker programs, and cuts in dollars paid for pharmaceutical and marketing research. Pharma sales.

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

Sales Training Connection

The question at hand is what is the right “go to market” strategy in order to capture significant market share as an uncertain future unfolds. MedTech Sales. The Affordable Care Act and other social and economic trends are transforming the healthcare landscape.

MedTech sales – the declining advantage of superior technology

Sales Training Connection

Specifically, regarding, the medical technology market, the BCG report emphasizes – “MedTech companies, like all health-care operators, will be assessed on their ability to deliver value to patients and providers, rather than just superior technology. Medtech sales.

MedTech sales: when customers change – so must you

Sales Training Connection

In times of transformational market change there are new winners and losers. Among market leaders the journey of change has already begun and will continue as the future unfolds. Transformation changes affecting medical sales.

5 Things Good Content Marketers Know About How to Grow Your Business by Jayna Locke

Increase Sales

Some days business marketing seems exciting and ripe with opportunity. Take the thrilling wonderland of social media marketing, for example. In this post we’ll share some of the secrets of good content marketers. Start with Goals and a Plan for Your Content Marketing ROI.

4 Tips For Super-Efficient Marketing

Ian Brodie

So, if you’ve followed last week’s video you’ll now have your perfect marketing week planned. And in particular, how do you make sure you can fit all the marketing you need to do into that one day a week you have for it? That eventually became my market.

How to Heat Up Cold Emails with Personalization

DiscoverOrg Sales

I also name-dropped a couple of my prospects competitors, thinking he might be interested to know that they were also using my product: Hey Kyle, When you accepted the position as COO for N–, you said , “I’m excited to be part of N– as we play a pivotal role in helping large companies adapt their sales and marketing organizations.” MARKETING MANAGER. In this next example, I’m targeting Megan, a marketer.

Think Robots Will Replace B2B Sales Reps?

No More Cold Calling

The article included a marketing expert’s explanation for why societal changes would render the door-to-door salesman obsolete: “Advertising is producing better results than the old method of personal solicitation.”. Fortune 500 companies are increasing focus on aligning sales and marketing.

B2B 112

Sales middle managers – what motivates them the most?

Sales Training Connection

The importance of middle managers can be especially significant in industries and fields that value innovation, like computer games, software, consulting, biotech and marketing, according to Mollick. Sales Middle Managers.

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? Nancy: What do you think is the biggest underlying theme or trend for sellers and/or marketers in 2014?

Blended Customer Retention Strategy benefits YOU and Your Clients

Babette Ten Haken

I think it had something to do with my work in new product development in the pharmaceutical industry. Also, share with your Sales, Marketing and Sales Operations folks, as well. I developed a blended customer retention strategy at some point during my career.

Medical sales – tailoring sales to physician preferences – An STC Classic

Sales Training Connection

And with the ever-changing healthcare market space , selling to physicians is increasingly more difficult. A Classic - '63 Corvette. There is no one way physicians prefer to interact with a medical products company. Many factors influence the physician’s view of the ideal experience.

Can Pharma’s Woes be Tied to Poor Business Acumen?

Steven Rosen

The Pharmaceutical Industry has undergone enormous cha nge. Many companies have realised that in order to better understand and meet customer needs they have had to evolve from a centralised/marketing focus to a customer centric model.

How to Use Instagram to Sell Products

Vertical Response

The former pharmaceutical researcher posts pictures of small, shippable products on the company Instagram site and not only makes sales, but also increases traffic to her store. © 2013, VR Marketing Blog.

How to Organize Your Sales Force to Generate More Revenue

Sales Benchmark Index

Loss of market share. Industry Vertical – reps are organized by specific industry types (government, pharmaceutical, tech, etc.). In an emerging market, you have to organize to beat the bad guys. In a competitive replacement market, you need to organize to take share.

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

Smart Selling Tools

As a sales and marketing expert myself, I know the importance of “the fundamentals” and look for good sources that reinforce them. As a VP of sales and marketing for major corporations like Biovail Pharmaceuticals Inc.

The Complete Guide to Email Metrics – Part II

Vertical Response

As with any marketing effort, it’s important to have goals. Email marketing is no different. Email marketing campaign benchmarks. Pharmaceutical businesses, for example, typically see open rates of about 25 percent. Email Marketing guide to email metricsThe big question is, how do you know what goal is realistic ?

College graduates – should you consider a sales job?

Sales Training Connection

The pharmaceutical industry comes to mind – for example, Eli Lilly laid off a 1000 salespeople in 2013. So although the job market has clearly been improving, particularly in the last several month, the search for great jobs for new college graduates is still challenging.

Sales training myopia of tech start-ups

Sales Training Connection

Now, there was attention to marketing plans and getting the sales reps smart about the product – but not to sales skill training. In many start-up lots of things are going on simultaneously and the major commitment is all about launching and marketing the “product.”

Is Your Customer at the Center of Sales Onboarding?

Sales Benchmark Index

Ingrid was a successful pharmaceutical rep. At the start, the buyer is “Not in the Market.” As an experienced sales leader, new hires are essential to Making the Number. Their success is your success. The goal is to minimize the time it takes them to reach full quota attainment.

For a Client Base Built on Relationships, Social Selling Unlocks Doors

Sales 2.0

This is a guest post by Russ Korins, Director of Marketing, Cohen Tauber Spievack & Wagner P.C. world hasn’t really changed how we market our firm. … Russ Korins is director of marketing and business development for Cohen Tauber Spievack & Wagner.

Dogfooding: is it part of your CRM selection process?

Jonathan Farrington

The VP had done his research: internally to the key stake holders, the sales agents, managers, IT department, marketing and HR; and externally to the insurance industry and even outside his industry.

Remarkable Teams, Mentoring and Paying It Forward

Babette Ten Haken

My own defining team moment arrived when I was assigned to a cross-functional new product development team in the pharmaceutical industry. As the youngest person on the team, I worked with professionals from operations, legal, marketing, sales, finance.

How To Find Clients Willing To Pay Premium Prices

Ian Brodie

They try to take an existing market or client base and persuade it that their products and services are worth paying a premium for. Hi it’s Ian here, welcome to another five minute marketing tip. First of all, is it big enough and can I reach it with my marketing?

How To Make Differentiation Pay

Ian Brodie

Hi, it’s Ian here with another five minute marketing tip. One of the clear things that Domino’s did was that they identified a unique segment of the market who really valued fast delivery. They found a segment of the market to which their differentiation was valuable.

Sales, Big Data, Partnerships & Integration: A Conversation with Henry Schuck of DiscoverOrg and Mark Godley of HG Data

DiscoverOrg Sales

In conjunction with the DiscoverOrg/HG Data partnership announcement, we sat down with DiscoverOrg co-founder and CEO, Henry Schuck, and HG Data’s Chief Revenue Officer, Mark Godley, to get their perspectives on the role of data and SaaS tools on both the trends and future direction for sales and marketing. We hear a lot about Account-Based Marketing and flipping the funnel. HS: With account-based marketing it is vital to hyper segment your accounts and your messaging.

How To Motivate People To Refer You More Often

Ian Brodie

I explain what it is and how to get over it in this week’s 5 minute marketing tip video… Here’s my blatant affiliate link for Contactually I mentioned in the video. Welcome to another 5-minute marketing tip.

Selling Financial Results to Executives

Sales Excellence

A large financial services firm might categorize income into interest from loans, insurance premiums, and commissions, while a pharmaceuticals firm lumps all income together and calls it revenue. A restaurant chain could categorize operational expenses by food costs, payroll, and rents, whereas a high-tech manufacturer would break down expenses by research and development, sales and marketing, and administrative costs.

How To Use Specialization To Differentiate Your Business

Ian Brodie

Welcome to another 5-minute marketing tip. Dan Kennedy, the famous marketing guru started off by focusing on marketing for chiropractors and dentists, before he expanded his reach to all sorts of other businesses. It’s also nice to have a growing market.

#1 Question to Snatch Business from Your Competition

Paul Cherry's Top Sales Techniques

Pharmaceutical Sales Training. Ask your customers questions that will get them planning how to increase revenue, how to grow market share, and how to secure more business at higher profit margins—start with this one: “What will it take on my part to win that portion of the business you’re currently giving to our competition?” More Free Stuff | Email Us | Get Started Now! Sales Training & Management Workshops | 302-478-4443. About Us. The Company.

Guest Article: Are You Client Focused or a Client Vulture?, by Charles H. Green

Sales and Management Blog

By way of metaphor, consider an industry recently hard-hit by trust issues—pharmaceuticals. Each change in the system was motivated largely, if not entirely, by a desire to increase physician prescription-writing of drugs produced by the pharmaceutical company. In the dating world, it’s considered forward to say you want a relationship on the first date—but in business, some firms have gone one better and built “relationship” into a marketing slogan before even meeting the client.

Sales Management Training: 10 Questions to Engage C-Level.

Paul Cherry's Top Sales Techniques

Pharmaceutical Sales Training. These questions must focus on vision, growth, market differentiation, competitive threats, market pressures, and productivity. How are you looking to position your company in this market three years from now? How would you describe the one key attribute your company has that will help you drive growth and expand market share? More Free Stuff | Email Us | Get Started Now! Sales Training & Management Workshops | 302-478-4443.

Lead Gen Tips from Yogi Berra

Green Lead's B2B Blog

During the session, we connected with the Chief Information Security Officer of an extremely large pharmaceutical company. Was Yogi Berra hip to outbound marketing?

The “Secret Sauce” That Makes Differentiation Pay

Ian Brodie

That’s why so much of marketing focused on proving to potential clients that you’re different. In today’s five minute marketing tip we’re going to look at the flip side of differentiation. When I was working for a big consulting firm, I was the account manager for a big global pharmaceutical company, and we pitched for a job doing a big lean manufacturing project.

How to Use Persuasion Techniques in Sales

The Science and Art of Selling

Sales and marketing professionals are faced with the challenge of convincing or persuading customers to buy or to use their products or services.

Ode to The Salespeople Customers Can't Wait To Meet?

The Sales Association

Bernadette McClelland mentors and teaches salespeople within B2B markets in Australia, NZ and India to sell more effectively, step up their sales leadership skills and become trusted advisors. While at Sepracor Pharmaceuticals I maintained a monthly quota of 135% or greater of my monthly budget while ensuring clients- Psychiatrists, Neurologists, Oncologists, and Primary Care Physicians- where given the most up to date products and services available industry wide.