Sales Force Effectiveness (SFE)
With increasing pressure to ensure maximum return on investment, sales force effectiveness becomes high priority area in global Pharmaceutical and Bio-pharmaceutical industry.
In today’s pharmaceutical market, the sales force expenditure has become the largest component of sales and marketing budgets. At the same time, physician access has become limited so sales representatives have less time to deliver a product’s value proposition hence, alignment between strategy and sales representative’s priority has become critical to increase frontline.
As a result, every pharmaceutical company should ensure that physicians are “connecting” with the main messages delivered by its sales force. They should understand the way each call is creating impact with each element covered in the call with KOLs.
Sales force effectiveness, determines the importance and weightage of each element of a sales presentation and its impact on prescribing habits.
• How much sales is made on each call?
• How to identify which element of marketing strategy are having most actual prescribing impact?
• How to achieve sales force effectiveness with ever increasing regulations?
• What are the performance indicator of effective sales force team?
• How much time should my representative should spend in which elements?
To know, how your sales reps are performing against the competition, we are equipped to give you insight in right time framework to stream line sales efforts for better results.
MRA group capability can determine the optimal weightage of key sales quota drivers, and through which sales management can customize business plans based on local market conditions.
MRA Group can help prioritize goals, responsibilities and selling time and to develop the right incentives for the right performance.
How We Help?
• We help in analyzing trends in sales and prescribing activity
• We provide performance indicators for respective geography for sales Managers and sales representatives
• We rate 15% of top and bottom sales representatives based on their overall performance
• Help to identify key strengths and weaknesses of the sales force for training purposes
• We help quantify the financial impact of each marketing campaign.
• Highlight and compare sales representative quality difference across different brands and across companies.
• Segmentation and Targeting: Physicians are aggregated and segmented using variables that include adoption tendency, market share, prescription volume, physician lifetime value, dosing, payer types, and de-identified patient information such as age and gender. Targeting the physicians involves in-depth evaluation of his/her practice, patient pull, number of prescribers and number of prescriptions generated
• Incentive Compensation Management (ICM): Incentive compensation management and compensation budgeting enables organizations to compensate properly while lowering the risk of overcompensation due to miscalculation. As a result, companies enjoy almost immediate savings upon implementing these systems.
• Improve sales call message impact and effectiveness
• Focus marketing resources on most valuable customers
• Identify the key factors that influence selling results
• Optimize call frequency on the basis of rank of KOLs
• Design the process to continuously track and improve effectiveness
• Maximize return on available sales and marketing data
• The ability to experiment with alternative spending plans and evaluate every input in terms of its effects on sales, profits, or both.
We offer, Sales Representative Performance Evaluation Dashboard which provides user-friendly and interactive reports to enable users to conduct a comprehensive evaluation of sales representatives. It facilitates the representative's evaluation on a wide range of parameters such as time and territory management, paperwork and reporting, selling skills and sales performance.
We deliver relevant intelligence to support business decisions that optimize territory management and overall sales performance. Management can quickly access sales force efforts on the decided parameters in quick time and uncover opportunities to improve and maximize the effectiveness of sales force. Sales representatives can use easy-to-interpret information to understand their sales efforts, untapped potential, and spend effective time in the field.