Collection of Insights, Advice & Learnings on Life Sciences Commercial Strategy
Prescriber Centricity: Improving Sales by Identifying Key HCP Interests
Research has found that biopharma sales reps who tailor their sales approach to the key interests of their target prescribers drive sales at a significantly higher rate than those who do not. In this blog post, we explore an innovative methodology for classifying prescriber targets, and outline a strategy for leveraging their key interests to optimize sales.
How to Set Territory-Level Goals for Rare Disease Products
The rare and orphan disease market exhibits a number of unique characteristics that make goal setting incredibly challenging. In this blog post, we explore one proven goal setting methodology with a track record of improving goal accuracy and equity for rare disease products.
Are Prescribers More Likely to Change Behavioral Segment or Product Loyalty?
The prescribing behavior exhibited by HCPs and the loyalty they have to the products they prescribe are two critical elements that inform how biopharma sales representatives sell to HCPs. In this blog post, we explore whether an HCP is more likely to switch product loyalty or behavioral segment, and what the implications of this answer are for your sales strategy.
What is a Sales Compensation Budget Risk Analysis and Why is it Important?
Too often, biopharma sales compensation plans that do not have a fixed budget, such as goal or commission, end up paying or more or less than expected. In this blog post, we explore an invaluable tool called a budget risk analysis that helps companies anticipate how much their plan will pay out before implementation.
The Major Frameworks of Commission Sales Compensation Plans and When to Use Each
The various frameworks under which a commission-based sales compensation plan can be designed offer biopharma companies great flexibility in tailoring a plan to the unique needs of their particular sales force and product portfolio. In this blog post, we explore the three major commission frameworks and when you should use each.
How to Determine the Accuracy of Your Biopharma Targets
Critical to the productivity and efficiency of your sales force is ensuring the optimal targets are being identified and assigned the proper call frequency. In this blog post, we explore how to determine the accuracy of your biopharma targets.
Why Sales Representatives Should Deviate from Call Plans
One of the critical components to maximizing a sales force’s productivity and efficiency is call planning. In this blog post, we explore why sales representatives don’t always follow call plans and why this may be beneficial for a company’s bottom line.
How Good Are Your Physician Targets?
Let’s examine some of the key attributes that can be used to determine the productivity and efficiency of sales calls made to targets, which we’ve not only summarized into an easy to remember acronym—GAPPS®—but also developed into a statistically-based diagnostic tool.
Three Sales Compensation Pitfalls to Avoid for a Rare Disease Product Launch
While sales compensation design for any product launch can be incredibly challenging, it is especially complex for products that treat rare and orphan diseases. In this blog post, we explore three sales compensation pitfalls to avoid for the launch of a rare disease product.
Are You Targeting HCPs & Accounts the Right Way or the Easy Way?
The easiest way of targeting HCPs is to pursue those who are prescribing in high volume in the therapeutic class. However, seldom is the easy way also the best way to target HCPs. Let’s explore why and how HCPs should be targeted in order to drive sales and adoption.
Collecting Optimal Feedback from the Field on Sales Compensation Plans
There are a number of ways biopharma companies collect sales compensation plan feedback from the field. In this blog post, we explore some of the methods commonly used, the best method to utilize, and how this method can be effectively employed.
Why Forced Rank Sales Compensation Plans are Bad for Launch Products
Although the forced rank sales compensation plan is one of the most popular designs utilized for a biopharma product launch, the launch stage is actually the stage in which forced rank does the most harm. In this blog post, we explore why you should avoid forced rank sales compensation plans for a product launch.
The Do’s and Don’ts of Biopharma Contest Design
When designed properly, contests are an excellent supplement to the sales compensation plan to create excitement and attention around a particular product and activity. In this blog post, we discuss the do’s and don’t of biopharma contest design.
Why Your Goal-Based Sales Compensation Plan May Be Penalizing Large Volume Territories
Though large volume territories contribute so much to a biopharma company’s bottom line, many goal-based sales compensation plans actually unexpectedly penalize large volume territories. In this blog post, we explore how this inequity occurs and what you can do about it.
Four Indicators that It’s Time to Change Your Sales Compensation Plan
In this blog post, we explore four common indicators that a sales compensation plan is leaving sales on the table and should be changed.
Pitfalls to Avoid in Sales Compensation Design for a Multi-Product Bag
Critical to the success of a multi-product bag is ensuring that all products get sufficient attention without taking focus away from the product(s) deemed most important. However, there are number of sales compensation pitfalls that make achieving this very challenging. In this blog post, we outline what they are and how to navigate them.
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Additional Tools & Resources
Case Studies
Read some case studies with real biopharma companies that showcase the power of our sales compensation and sales optimization solutions.
Tips
Explore a variety of tips dedicated exclusively to life sciences sales compensation based on our over 30 years of experience in the industry.
Books
See what publications we’ve released over the years on pharma, biotech and medical device sales compensation and sales optimization.