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The Pursuit of Value
Is there room (and a role) left for the sales force?
Eyeforpharma’s Specialty Pharma Excellence Conference
Boston, MA
Frank F. DolanPrincipal Consultant
Twitter: @pharma411
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Michael Bailey◦ Chief Commercial Officer, AVEO Pharmaceuticals
Jeremy Lutz◦ Senior Director- Decision Support, Cubist
Pharmaceuticals
Brian Irwin◦ Managing Director, Informa Training Partners
Our Panelists
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The data is in…
Courtesy 20th Century Fox
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Right Message
Right People
Right Frequency
Our Forefathers Algorithm
•Key Performance Indicators
•Calls Per Day
•Reach
•Frequency
•Segmentation
•Promotional Sensitivity
•Awareness
•Trial
•Utilization
SalesD
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High Potential for Developing Perceived Value of Sales Representatives
◦ While sales representatives impact their treatment decisions, MD’s perceive 70% of them to be of only low or medium value to their practice
Aligned to the Customer
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How do MD’s define quality and value?
Product knowledge Disease state knowledge Understanding my needs as a physician Managed care status knowledge Ability to conduct useful face-to-face
interactions Presents relevant product support material
and/or solutions Credibility Appropriate frequency of sales calls
Gaining Competitive Advantage through Value
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What percentage of sales representatives meet your expectations regarding all of the following attributes?
Product knowledge Disease state knowledge Understanding my needs as a physician Managed care status knowledge Ability to conduct useful face-to-face
interactions Presents relevant product support material
and/or solutions Credibility Appropriate frequency of sales calls
Meeting Expectations
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Gold Standard Representative Has:
-Strong Product Knowledge
-Credibility
◦ The vast majority of MD’s see these two attributes as essential for all sales representatives
Rep Essentials
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As a company approaches commercialization with a sales force, what are some approaches to measuring promotional quality?
Panel Question
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The Reality of the Sales Call
◦ MD’s want: #1 gain product knowledge, #2 added value
◦ MD’s say that get a message monolog- NOT product knowledge or value
Conflicting Goals
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Sales Representatives Impact Brand Loyalty
◦ One-third of physicians indicate their prescribing behavior changes when a sales representative changes companies
Key Findings
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In a hospital/institutional selling environment, how do you interpret activity to sales levels?
Panel Question
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Sales Representative Often the Determining Factor in Visits
◦ In 39% of visits, the sales representative, not just the company or products detailed, will determine the institution’s willingness to see a sales representative
Sales Rep as a Critical Success Factor
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Improvements to Perceived Value Opens Doors
◦ Nearly one-third of MD’s give special privileges to sales representatives who meet their expectations on knowledge, interaction frequency, and credibility
Key to Access
61
00
61% of sales representatives currently
do not meet all these needs, presenting
a major opportunity for growth in
physician access
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MD’s Have Control Over Sales Representative Visits
◦ Approximately half of MD’s work in institutions that decide on which sales representatives they engage with on a case-by-case basis
◦ 14% indicate that rep access is determined by formal protocol
Access is Personal
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What investments are companies making to fulfill their pursuit of being more “customer-centric”?
Panel Question
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75% of MD’s give high value representatives more interaction time, more frequent interactions, or both
The Payoff for High value Reps
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Beware activity-to-sales formulas –Quantity centric
Measure promotional quality and value –Customer is scoring you anyway
Customer Listening Metrics is the new Closed Loop Marketing
Where do we go from here