Collection of Insights, Advice & Learnings on Life Sciences Commercial Strategy
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.
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.
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.
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.
Pros and Cons of Quarterly and Trimester Sales Compensation Plan Periods
The two most common sales compensation plan periods adopted in biopharma—quarter and trimester—each have their own set of advantages and disadvantages as well as circumstances for use. In this blog post, we explore the pros and cons of these two plan period types.
Designing an Effective Biopharma Payout Curve – Part 3: Setting Thresholds & Slopes
In this third and final part of our series dedicated to biopharma payout curve design, we explore how to set the payout threshold and slope of your sales compensation payout curve to drive sales force motivation and sales while being fiscally responsible.
Designing an Effective Biopharma Payout Curve – Part 2: Best Shape for Different Compensation Designs
Different payout curve shapes work best for different sales compensation design types and product life cycle stages. This second part of our three-part series on biopharma payout curve design explores under which circumstances the various payout curve shapes should be used.
Designing an Effective Biopharma Payout Curve – Part 1: Payout Curve Shapes
One of the most important elements of biopharma sales compensation planning is the design of the payout curve against which bonus is awarded. However, there are many aspects to payout curve design that make knowing how to design the best curve challenging. This three-part series will explore these aspects, starting with the shape of the payout curve.
How to Adjust Your Sales Compensation Plan for the Omicron Variant
With the uncertainty of the Omicron variant occurring in the midst of 2022 sales compensation planning, this blog post provides insights on how biopharma companies can mitigate whatever impact the variant may have and still get 2022 sales compensation plans out on time.
Why Your Sales Compensation Plan May Not Be Properly Identifying Top Performers
Critical to retaining your sales force is ensuring that the sales compensation plan properly recognizes and rewards top performers. However, a number of metrics actually fall short in successfully doing so. In this blog post, we will explore some of these metrics and what you can do to ensure your plan is properly identifying top performers.
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Case Studies
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Tips
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