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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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. In the article he discusses skills salespeople need to be successful including understanding changing customers, buying process, business environment and decision criteria.

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

Sales Training Connection

A Classic – ’63 Corvette. 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.

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.

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

Sales Training Connection

While the MedTech industry is positioned to grow in the coming years, all is not rosy.

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

Sales Training Connection

Well, with that hint about consultative selling, you probably got the right answer – pharmaceuticals. Now, we did have initial conversations with a number of pharmaceutical companies. There is no reason why pharmaceutical reps cannot successfully make the transition.

MedTech sales – financial impact of measuring patient satisfaction

Sales Training Connection

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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.

Medical sales – grabbing physician attention – An STC Classic

Sales Training Connection

A Classic – ’63 Corvette. Do docs have time to see you? Unfortunately “No” is often the answer. This lament is familiar from patients – and we’re certainly hearing it from sales people selling in the medical space. The problem is greater today than in the past.

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

Sales Training Connection

Hospitals are going through a period of transformation change. On the clinical side, they’re changing what they buy, how they buy, and what they are willing to pay for it. Selling to hospitals. And on the business side, hospitals are making significant and innovative changes, too.

MedTech clinical staff – invite them to the sales training party

Sales Training Connection

MedTech clinical staff + sales training. MedTech clinical staff spend the majority of their time on client sites – whether at a hospital, standalone medical center, or physician practice – they provide support and education to both clinical and administrative staff. But why stop there?

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.

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

Sales Training Connection

Health Care Sales Training Medical Device Sales Training Medical Sales Training Pharma Sales Pharma Sales Training Pharmaceutical Sales Pharmaceutical Sales Training Uncategorized biotech sales healthcare sales medical device sales medical sales medtech sales pharma sales sales training

MedTech sales – the declining advantage of superior technology

Sales Training Connection

Medtech sales. For years MedTech companies have enjoyed strong gross margins and top-line growth. However as a recent report by the Boston Consulting Group (BCG) notes the strategy for generating those outcomes is no longer sustainable.

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

Sales Training Connection

Health Care Sales Training Medical Device Sales Training Medical Sales Training Pharma Sales Pharma Sales Training Pharmaceutical Sales biotech sales healthcare sales medical device sales medtech sales pharma sales sales training

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.

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?

MedTech sales: when customers change – so must you

Sales Training Connection

Transformation changes affecting medical sales. In times of transformational market change there are new winners and losers.

Get on the Podium in 2012

Steven Rosen

Executive Coaching Pharmaceutical Sales Management Coaching Sales Managers Uncategorized sales leadership sales management coaching sales success steven rosenOnce upon a time, all sales managers were sales people. Most sales reps are type “A” personalities; they are driven and competitive.

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.

Overcoming “Failure to Impact” Syndrome

Steven Rosen

Change Management Leadership Pharmaceutical Sales Management Coaching Uncategorized sales impact sales management sales management trainingThis 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? What can you do?

Announcing Free Pharmaceutical Sales Training & Medical Device.

Paul Cherry's Top Sales Techniques

Pharmaceutical Sales Training. Blog Home < Announcing Free Pharmaceutical Sales Training… Sales & Management Tips. Announcing Free Pharmaceutical Sales Training & Medical Device Sales Training. Patrick Connor and I are gearing up for an upcoming FREE web workshop dealing with physicians thinking styles in relation to pharmaceutical and medical device sales training. More Free Stuff | Email Us | Get Started Now!

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

Sales Training Connection

A Classic - '63 Corvette. 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.

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.” In most cases this is a solid piece of coaching advice. Most sales people talk too much, listen too little and don’t ask enough questions. .

Medical sales – grabbing physician attention

Sales Training Connection

Selling to physicians. Do docs have time to see you? Unfortunately “No” is often the answer. This lament is familiar from patients – and we’re certainly hearing it from sales people selling in the medical space. The problem is greater today than in the past.

Asking Probing Questions will help Pharmaceutical and Medical.

Paul Cherry's Top Sales Techniques

Pharmaceutical Sales Training. Blog Home < Asking Probing Questions will help Pharmaceut… Sales & Management Tips. Asking Probing Questions will help Pharmaceutical and Medical Device Reps engage Physicians. Pharmaceutical, biotech, and medical device senior executives, regional directors, district managers, and corporate training professionals. More Free Stuff | Email Us | Get Started Now! Sales Training & Management Workshops | 302-478-4443.

Social Selling Applicability by Industry

Sales Benchmark Index

Examples include medical devices and pharmaceuticals. The reason for modest growth is medical devices, and pharmaceuticals, have persistent buyer behaviors. The potential impact of Social Selling varies greatly by industry. Social Selling will be highly disruptive to some industries.

Self-Responsibility: The First Trait of a Great Salesperson

Pipeliner

Let us say we have a pharmaceutical salesman selling to medical centers in a large urban area. 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.

Think Robots Will Replace B2B Sales Reps?

No More Cold Calling

Between 1995 and 2013, the top five pharmaceutical companies shed more than 55 percent of their salespeople in the U.S. Buyer 2.0 needs us more than ever. Eliot Burdett, CEO of Peak Sales Recruiting, explains why in this month’s guest post.

B2B 112

Sales middle managers – what motivates them the most?

Sales Training Connection

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. Sales Middle Managers.

Low Risk Marketing with Excellent ROI

Pipeliner

While certainly an ancient technique, the documented history of word of mouth (WOM) marketing dates to “teleconferenced peer influence groups” in the 1970s in which physicians talked in organized group discussions about pharmaceuticals they found in their practice to be effective.

ROI 61

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. I developed a blended customer retention strategy at some point during my career. I’m not sure just when my perspective changed.

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

Sales Training Connection

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.

New Survey Highlights Sales Management Skills and Development Priorities

Steven Rosen

Steven Rosen, MBA is a top sales management consultant whose clients have included Fortune 100’s (including Novartis Pharmaceutical and Alcon), medium size businesses (including Red Rock Breweries) and select smaller businesses and charities for whom he helped grow the bottom line.

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

Steven Rosen

The Pharmaceutical Industry has undergone enormous cha nge. Just stirring it up, Pharmaceutical Sales Managers Uncategorized business acumen pharmaceutical Sales ManagerThe number of sales reps has declined significantly over the last 4 years.

5th issue impacting medical sales in 2013 – customer satisfaction

Sales Training Connection

In our last blog we posted 4 hospital-physician issues impacting medical sales in 2013: Hospital consolidation continues. Hospital-physician alignment grows. ACOs are on the rise. Hospitals will continue employing physicians. Selling with to hospitals.

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

Smart Selling Tools

With just over two years in market, we already work with 6 of the top 10 pharmaceutical companies and are seeing strong interest in other industries, such as financial services and technology. Welcome to our biweekly blog feature.

Selling to Hospitals – 10 roles for internal champions

Sales Training Connection

Selling to Hospitals. . Top performers are good at developing internal champions – rightly so, they are crucial to winning key business. Increasingly a lot of selling is going on when the sales person isn’t there so the sales person needs someone to “tell their story” when they’re not around. .

Selleration on Selling Intelligence

Dave Stein's Blog

I was speaking with a neuroscientist a few months back who told me her pharmaceutical firm had begun research on new ways to deliver medication 20-30 years from now. I’ve believed in assessments for many years. They are a required component of my hiring process.