Addressing the New Era of Life Sciences Sales Force Performance

Transcription

1 Addressing the New Era of Life Sciences Sales Force Performance

2 How an Emerging Synergy Between CRM, Reporting and Business Intelligence Can Empower Today s Sales Organizations 2014 CEGEDIM RELATIONSHIP MANAGEMENT 2

3 Addressing the New Era of Life Sciences Sales Force Performance A constellation of factors is prompting sales organizations of pharmaceutical, biotech and medical device manufacturers to achieve more with less. As the industry transitions from creating general medicine blockbusters to developing specialty products, so too are commercial teams transitioning from expansive forces to compact, tactical units that must aim for new levels of efficiency. Simply put, the new mission critical for the Life Sciences industry is to find efficient ways to improve their ability to measure sales force performance. Obviously, for companies to achieve today s brand of sales efficacy, it requires a heavier reliance on information technology (IT), specifically customer relationship management (CRM) systems, business intelligence (BI) solutions and diverse data sets. For those systems to provide any value to field users, they must be optimized for the mobile channel and feature a highly practical, centralized and easy-to-use platform. For sales managers, they need a real-time understanding of how their teams are performing. Historically, companies have relied on a traditional set of key performance indicators (KPI) to measure commercial activity, e.g. the frequency of calls made to physicians. For today s customer-facing commercial teams, the conventional KPIs are not enough. Due to increasing 2014 CEGEDIM RELATIONSHIP MANAGEMENT 3

4 competitive pressures and shrinking profit margins, companies require a broader KPI toolkit to more closely understand customer behavior and optimize limited time spent with healthcare professionals (HCP) in efforts to maximize the face-to-face channel. It is now possible to deliver more with less by leveraging the growth of existing solutions in the cloud. Empowering the new sales teams to become multichannel customer managers requires new capabilities equipped with better insights Primarily, the reason for the changing requirements in performance metrics is because of the evolving role of the sales representative. Representatives have transitioned from a purely commercial role into a customer engagement manager requiring a more in-depth customer focus, rather than just a product-centric approach. This new breed of representatives must interact across several channels, understand customers level of engagement with their product and brand, and be able to foresee any challenges ahead all of which necessitate access to broad data sets to achieve a comprehensive view of HCPs. Moreover, companies are increasingly dependent on new customer-facing roles, such as Medical Science Liaisons (MSL) and Key Account Managers (KAM) who have the same high reliance on IT. Current sales performance systems have come a long way in their ability to provide complex, comprehensive and dynamic insights. Solution providers are now helping their customers gain more profound intelligence regarding the multichannel engagement model between customer-facing teams and prescribers as well as anticipating the progression of commercial roles. Yet, one of the dilemmas for the Life Sciences industry from an enterprise level is that, in many cases, these systems are disparate, costly to maintain and lack the integration to work together in meaningful ways. Cegedim Relationship Management is on a mission to solve this industry dilemma enabling companies to attain their goals of smarter, data-empowered and performance-driven teams CEGEDIM RELATIONSHIP MANAGEMENT 4

5 How is Cegedim achieving this? In essence, their strategy is simple: create a synergy between CRM, reporting and BI solutions. And, for all of the benefits of these solutions to be translated into actionable insights for field users, they need to be accessible from a mobile-optimized, user-centric platform. Current sales performance systems have come a long way in their ability to provide complex, comprehensive and dynamic insights. Cegedim is channeling this initiative into their flagship CRM solution, Mobile Intelligence. Now on its tenth release, the core tenets of their solution center on speed, information and flexibility; and are designed to yield more genuine relationships with HCPs across the new multichannel model. To streamline and improve companies sales performance measurement, Cegedim has taken a CRM-centric approach. Mobile Intelligence includes a built-in reporting tool, Mobile Intelligence Reports, and features seamless functionality integration with its BI tool, MI Analytics. Rather than a separate system, Mobile Intelligence Reports is a fully integrated capability of Cegedim s CRM. This capability answers district managers key question regarding their field users activity, Where are my reps and are they achieving their targets? With many solutions, sourcing this intelligence would require access to another system, the time spent creating new KPIs and the additional cost incurred from a solution provider. As part of Mobile Intelligence s out-of-the-box offering, Reports deliver high-value insights without additional investment or time spent obtaining information. For the tenth release of Mobile Intelligence, three new reports: Activity per Month, Activity per Territory and Activity per 2014 CEGEDIM RELATIONSHIP MANAGEMENT 5

6 Representative completing the solution s 58 total reports come standard. The combination of these reports provides district managers with a trifecta of insights to gain a multidimensional perspective and establish complete transparency regarding their sales force effectiveness. Each of these reports includes three key monitoring aspects: activity days, field days and calls. 58 reports, standard and available with the flip of a switch, are tailored to the needs of the customerfacing team. Activity Days provides an overview of representatives working days versus non-working days, respective to each geography s designated holidays. The Activity Days Monitoring report allows district managers to assess whether or not they have enough personnel to effectively cover their territory. Field Days delivers a synopsis of which days representatives spend on the field versus off the field. Managers can gain new knowledge of whether their representatives are spending enough time with doctors or are in need of additional training. Lastly, the Calls Monitoring report displays the number of calls performed allowing managers to determine if field teams are meeting their quotas. In order to take commercial analysis one step further, Cegedim has created a valuable link between their CRM and BI solution. MI Analytics is an agile BI suite that allows for the extraction of data from any source, the creation of KPIs and features the strength to aggregate sizeable data sets. Customers also leverage the capability to filter and drill down into their data and visualize it into dynamic tables, charts and maps. The link enables customers of both solutions to publish MI Analytics reports to Mobile Intelligence empowering sales representative with the benefits of their companies numerous data resources now accessible from their mobile devices. Perhaps most importantly, the publishing feature serves to realistically actionize companies data. Through the ability 2014 CEGEDIM RELATIONSHIP MANAGEMENT 6

7 to share BI data reports with field team members regarding potential opportunities, it allows them to take action (i.e. making a call, then setting up a meeting) and close the loop within the CRM. Here s the key takeaway: Cegedim is enriching their CRM with high added value through turnkey insights and deeper commercial utility for BI analytics. Their goal is to save Life Sciences customers from the nightmares of incongruent systems, the time involved with defining new KPIs and the requisite investment. With their streamlined CRM-centric approach, complete out-of-the-box offering and years of industry expertise, Cegedim consistently helps companies optimize their sales force effectiveness both now and in the future CEGEDIM RELATIONSHIP MANAGEMENT 7

8 Authors Vincent Siccardi, Director, Product Management, CRM Analytics Cegedim Relationship Management Gracia Rodriguez Valbuena, Marketing Consultant Cegedim Relationship Management Marilyn Raffensperger, Marketing Manager Cegedim Relationship Management Cegedim Relationship Management, the leading global provider of pharmaceutical Customer Relationship Management (CRM) solutions, provides the most comprehensively packaged offering, enabling Life Sciences companies to achieve rewarding and lasting relationships with their customers as well as meet their present and future business objectives and requirements. Contact Cegedim Relationship Management General Global Headquarters rue d Aguesseau, Boulogne-Billancourt France US Headquarters 1405 U.S. Highway 206 Bedminster, NJ Solutions include Customer Relationship Management Customer Data Management Regulatory Compliance Support Services Marketing Services 2014 CEGEDIM RELATIONSHIP MANAGEMENT 8