Reinventing Pharmaceutical Sales Forces

Reinventing Pharmaceutical Sales Forces published by Cutting Edge Information in April, 2009. This report consists of 141 Pages and the price starts from US $ 5995.

Introduction

Abstract

Innovate your sales practices to reach and influence targets (PH127)

The "more is better" methodology of selling is dead. The Wall Street Journal now predicts that the number of pharmaceutical sales reps in the US will drop to 70,000 by the year 2015. This is a tremendous change from the boom of the 1990s and early 2000s, when the total number of reps exceeded 100,000. While some companies began adapting a few years ago, other companies now find themselves well behind. For those companies stuck in the past, reducing sales force mirroring, creating more personal relationships with targets, and uncovering new ways to reach physicians are the orders of the day. The companies that will excel will be those that innovate now and find new avenues for connecting with targets and that develop relationships where doctors actually call on reps for information.

Cutting Edge Information' s Reinventing Pharmaceutical Sales Forces analyzes the current state of the pharmaceutical sales arena and reveals how innovative leaders are winning in a time when most companies find themselves in trouble.

The report makes its case with metrics and methodologies for preparing pharma sales forces to compete now and into the future. The report covers three main areas:

• Incorporating eDetailing and Closed Loop Marketing - Examines some of the newest ways sales forces are reaching physicians and meeting targets' specific needs.
• New Age Field Force Tactics - Studies the "new look" field force, which values one-on-one relationships between doctor and rep, fewer reps per district manager, a more technologically equipped team and increased rep accountability.
• Structures, Budgets and Sales Staff Compensation - Analyzes the sales force investment levels and resource allocations of today. The chapter also reveals compensation levels of newly hired, average and high-performing reps, district managers and regional managers.

Table of Contents

Chapter 1: Incorporating eDetailing and Closed-Loop Marketing eDetailing

• eDetailing program investment
• Percentage of eDetailing investment outsourced
• Percentage of companies measuring ROI on eDetailing
• Percentage of total eDetails delivered by type
• Percentage of the eDetailing budget dedicated to each type
• Total dollars spent by type of eDetail
• Rating the effectiveness of eDetailing types
• Ideal lifecycle stage for eDetailing campaigns
• Level of prescribers targeted by eDetailing
• Dedicated eDetailing teams
• Dedicated eDetailing team annual budgets
• Investment per Dedicated eDetailing team member
• eDetailing types performed by dedicated eDetailing teams
• Percentage of dedicated eDetailing teams' budgets spent by eDetailing type
• eDetailing delivery methodology for dedicated eDetailing teams
• Customer Relationship Management (CRM) and Closed-Loop Marketing Systems

• Percentage of companies using a CRM system
• Percentage of companies using a closed-loop marketing system
• Percentage of companies investigating the installation of closed-loop marketing systems
• Investment in closed-loop marketing systems

Chapter 2: New Age Field Force Tactics

• Overall changes to district manager to rep ratios over the past 12 to 24 months
• Impact of sales force contraction on rep to district manager ratios
• Impact of sales force expansion on rep to district manager ratios
• Average number of reps targeting each level of physician - broken down by primary care sales and specialty/hospital sales
• Mirroring for top- , mid- and low-level targets - primary care sales and specialty/hospital sales
• Shifts in the average number of target visits attempted daily by sales reps over the last 12 to 24 months
• Impact of contraction on the number of visits attempted and drugs carried -- primary reps and specialty/hospital reps
• Impact of the January 2009 changes to the PhRMA Code
• Maximizing Sales Rep Success

• Metrics gauge the success rate and amount of time -- by percentage and by average number of minutes -- that primary care reps and specialty/hospital reps are able to spend detailing physicians. Current year data and 2007 data are shown.
• Using total office calls to find key influencers

Chapter 3: Structures, Budgets and Sales Staff Compensation

Sales Force Contraction Data

• Percentage by which expanding sales forces grew over the last 12 to 24 months
• Percentage by which contracting sales forces shrank over the last 12 to 24 months
• Sales force expansion/contraction planned over the next 12 to 24 months
• Sales force realignments
• Sales Force Investments

• Total annual sales force investment
• Total annual sales force investment per rep
• Average annual cost - per primary care sales rep and per specialty/hospital rep
• Average resource allocation -- per primary care sales force and per specialty/hospital sales force
• Cost per detail -- primary care sales and specialty/hospital sales
• Sales Staff Compensation

Section contains compensation data for primary care and specialty/hospital reps and district managers and regional managers across the performance spectrum.

Related Reports