Customized Biopharma Territory Goal Setting that Considers Each HCP/Account
Better Territory Goals Drive Better Territory Sales
Too often, territory goal setting methodologies utilized in the pharma and biotech industry either penalize good performers and reward poor performers, or place certain territories at a disadvantage based on characteristics such as volume, managed care conditions, etc.
Instead, utilize goals that consider the sales and potential of each individual HCP/account with innovative goal setting methodologies from The Marketing Advantage, the leading sales compensation consulting firm dedicated to the pharma, biotech and medical device industries. With over 30 years of experience setting accurate and equitable territory goals, we have the experience, expertise and creativity to set goals that will drive sales.
Our Goal Setting Difference: Consideration of Each Individual HCP/Account
What makes our goal setting different from other consultants or traditional methodologies is that we look at each individual HCP/account.
Common Goal Setting Pain Points We Solve
Companies partner with The Marketing Advantage for their goal setting needs because we deliver results. With 30 years of innovating customized goal setting methodologies for the pharma and biotech industry, we have a proven track record of setting accurate and equitable territory goals that drive sales.
Below is just a sampling of some of the pain points our biopharma territory goal setting solutions have solved:
Territory Differences
Wide differences in opportunity, size, managed care conditions, etc. across territories
Penalizing Good Performers
Goal setting that penalizes good performers with unfairly higher goals next plan period (i.e., contribution goal setting)
Rewarding Poor Performers
Goal setting that rewards poor performers with lower goals next plan period (i.e., setting goals on trends)
Difficult to Convert Potential
Holding the sales force accountable for potential that is unlikely to be converted due to managed care conditions
Time Available to Prospect
Holding the sales force accountable for potential they don’t have the time to convert due to time to be spent on maintenance
Wide Performance Spread
Goals that result in a large spread of performances and payouts from top to bottom performers
Lack of Competitive Data
Difficult in setting goals when there is little to no competitive data available
Tight Timelines
Ensuring goals get out early enough in the plan period do that they have most ability to drive behavior
| Goal Setting Methodology | Applicable Circumstances/Market Conditions |
|---|---|
| Goal Gap Methodology | Effective for growth and declining products |
| Goal Gain Methodology | Effective when territories vary widely in volume |
| Regress to Mean Methodology | Effective when there is limited managed care data available |
| Over-/Under-Achiever Methodology | Effective in some unique cases |
| Aggregate Integration Methodology | Effective when lacking competitive data |
| Account Profile Methodology | Effective for oncology, MS and similar products |
| Portfolio Growth Methodology | Effective for portfolio of products promoted and no competitive data |
Sampling of Goal Setting Innovations
To meet the unique needs of our client's’ products, we have developed dozens of innovative pharma goal setting methodologies designed exclusively for pharma, biotech and medical device companies to ensure goal accuracy, a sampling of which is shown below.
Ensuring Goal Accuracy
The ever-changing pharma, biotech and medical device landscape makes it very challenging to ensure goal accuracy. We optimize the goal setting methodology we customize for your product using a battery of tests for maximum accuracy:
Test against six SCOR³ES® criteria of sales incentive compensation effectiveness and tests of equity
Create a simulation to see how accurate goals would be for the coming plan period
Apply goal setting methodology to past data to see how close goals are to actual sales
Compare percent change that the goal represents versus most recent & year ago sales to find any outliers
Goal Setting Competitive Advantage
30 Years of Life Sciences Exclusivity
Specialize in territory goal setting for life sciences companies
Goal Setting Customization
Customize goal setting methodology for company, sales force and product
Consideration of Individual HCP/Account in Goal Setting
Look at each individual HCP/account in goal setting to increase accuracy and equity
History of Innovation
Have developed countless innovative goal setting methodologies
Entirely Based in US
Are based entirely in the United States—never off-shore
Therapeutic Class Breadth
Have worked in every therapeutic class, from dermatology to oncology to rare disease
Leadership
Are led by Dr. John W. Keon, who has designed more pharma and biotech plans than anyone
SCOR³ES® Diagnostics
Test goals against proprietary SCOR³ES® diagnostics, which is correlated with increases in sales
Proven Track Record
Have proven track record of increasing sales 7%-14% for small start-ups to large multi-national companies
Goal Setting Competitive Advantage
30 Years of Life Sciences Exclusivity
Specialize in territory goal setting for life sciences companies
Goal Setting Customization
Customize goal setting methodology for company, sales force and product
Consideration of Individual HCP/Account in Goal Setting
Look at each individual HCP/account in goal setting to increase accuracy and equity
History of Innovation
Have developed countless innovative goal setting methodologies
Entirely Based in US
Are based entirely in the United States—never off-shore
Therapeutic Class Breadth
Have worked in every therapeutic class, from dermatology to oncology to rare disease
Leadership
Are led by Dr. John W. Keon, who has designed more pharma and biotech plans than anyone
SCOR³ES® Diagnostics
Test goals against proprietary SCOR³ES® diagnostics, which is correlated with increases in sales
Proven Track Record
Have proven track record of increasing sales 7%-14% for small start-ups to large multi-national companies
Learn More About Related Sales Compensation Solutions
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Design & Planning
We design pharmaceutical, biotechnology and medical device sales compensation plans that motivate and energize sales forces to drive sales.
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SCOR³ES® Assessment
Our revolutionary SCOR³ES® evaluates sales compensation plans against the six critical criteria of plan effectiveness, including four tests of equity.
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Launch Sales Compensation
Achieve fast adoption and secure your new product’s position in the marketplace with our proven launch sales compensation strategies.
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Momentum™ System
Our Momentum™ sales compensation management system makes designing an equitable plan and setting accurate goals faster and easier than ever.
Goal Setting Resources
Clients We’ve Served
Join the companies that have revolutionized their sales compensation and sales optimization strategy with The Marketing Advantage, from small start-ups to multi-national corporations.
Boost Your Business With Innovative Goal Setting
To hit growth and revenue targets, you need to get the most out of your sales team. This requires accurate and equitable goals for goal-based plans, and there's no better goal setting partner than The Marketing Advantage.
Contact us to learn more about pharma & biotech goal setting.