With the COVID-19 outbreaking wreaking havoc worldwide, there is a huge impact of slowdown in businesses in pharma companies and history has been a proof that in any economic slump, one of the primary expense cuts is advertising and marketing.
Field Sales Force who were meeting the customers face to face for product briefing are now working from home due to which it becomes difficult for them to perform their routine activities of customer meet. The existing model of sales force detailing could be tossed on its head. If product sales didn’t suffer from, they not being in the field, do pharma companies need to send them back? Not at all.(more…)
How to get more out of ‘Pharmaceutical Marketing’?
Pharmaceutical marketing is the business of advertising or otherwise promoting the sale of pharmaceuticals or drugs. Marketing to health care providers takes three main forms: provision of drug samples, sponsoring continuing medical education (CME) and activity by pharmaceutical field force.(more…)
One of the most interesting aspects of working in sales is consistently straddling the line between art and science. As sales has evolved, the “science” part has come to mean more specifically leveraging technology to enhance the process. Sales force automation software has a dramatic impact on the way sales are performed. According to recent study salespeople using an automated solution increased their talk time by 88 percent and had 15 percent higher contact and conversion rates than their peers. Sales automation has indisputably made salespeople more efficient, but some people worry that outsourcing too much to a machine can make sellers impersonal and therefore less convincing for potential buyers.
The danger of a blind reliance on sales force automation software is obvious. If salespeople lean heavily on generic email blasts, for example, they risk frustrating and alienating buyers. They also might become complacent and lose important skills like critical analysis of prospects’ pain points. The true power of sales force automation software lies in harnessing the benefits of automation (science) without losing the advantages of human connection (art). By implementing these solutions strategically, salespeople can not only retain their ability to form relationships with prospects, but also enhance it.(more…)
These days we can see due to introduction of globalization and liberal government policies starting any business is not a difficult task. We can find everyday new companies in various niche are coming joining the business world. All these factors have created massive competition in market. In contemporary business world is very difficult for any company to generate exceptionally high profit. In order to get competitive edge in market the companies require sound sales strategy and sales forces. Implementing sales force automation software will automate the routine tasks of sales force and allow them to hit the targets effectively.
What is sales force automation software?
Sales force automation software, sometimes shortened to SFA (sales force automation), is an integrated application that automates frequent sales processes and tasks such as tracking customer interactions, as well as analyzing sales performance and forecasts.
Sales force automation software typically comes with a web accessible database, an email application, tracking software, and sales email templates.(more…)
Indian Pharma industry is one of the complex industry having 10,500 registered manufacturing units and 3000 companies that market nearly a 100,000 branded generics.
The top 10 Pharma companies employ between 3000 to 6000 reps in field sales. Hence, the top 10 Pharma companies having more than 50000 field force who meet doctors every day. If we add the field force of medical devices, diagnostics, disposables and surgical companies the approximate number would cross one million people. That is close to one field sales person per doctor.
Here are some of the common challenges faced by field force:
1. Many companies with similar products and to counter the competition many companies have more than one division to sell the similar products under different brand names. The result: one company 10 divisions, each of which does not know what other is doing!(more…)
It’s a bitter truth that 80 percent of any organizations sales done by 20 percent of their sales reps and remaining 20 percent by 80 percent of sales reps. According to latest sales compensation and performance management study , only 55 percent of sales professionals actually meet quota.
Sales force automation and customer relationship management software are just the tools, but we often blame them whenever our sales process doesn’t work. It’s like blaming the bat for not playing the short right by the batsman.
The Objective Management Group has evaluated over a million field reps from various industries across the globe and found that only 16 percent field reps were elite-they have the mindset that allow them to develop any skill and competency, The rest all are struggling anyhow.(more…)
One of the toughest challenge for filed force today is getting a prospect to respond. In this intense competitive business world lead generation is the toughest job. According to the recent research, any prospect evaluate at least three to five options at a time.
In fact email click-through rates are hovering around 3 percent and ten cold calls are needed, on average to reach a prospect, up from five calls in 2008.This indicate that the importance and effectiveness level of sales messages are dropping.
But this does not mean that it’s impossible to break the ice. According to Gartner, 71 percent of buyers are open to initiate with the field force during the initial stages of their evaluation. But with one size fit for all strategy you cannot grab the attention of prospects.(more…)
FForce has been specially developed for Pharmaceutical, Healthcare and FMCG industries. But in this intense competitive business environment every one need specialized solution. Fast moving consumer goods is the industry which is under tremendous pressure due to the cut throat competition, new entrants and changing market dynamics. In present scenario FMCG companies are looking to automate its overall process to bring greater efficiency which resulted increase bottom line.
FMCG network includes C&F agents, distributors, wholesalers and retailers, spread across the length and breadth of geographies. It is tough challenge for these companies to effectively manage supply chain, sales and distribution and field force with traditional manual and paper based system.
FForce! sales force automation software is the perfect solution for FMCG companies which empowers them to establish lean supply chain, short replenishment cycle and increase field force effectiveness.(more…)