Market Research Report
KAM Metrics: Driving efficiency and measuring success
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|KAM Metrics: Driving efficiency and measuring success|
|Published: March 1, 2018||Content info:||
Sales numbers are no longer the gold standard for measuring commercial success. What is?
The maturing key account management (KAM) model has transformed the way customer-facing teams operate: the challenge now is to use metrics that reflect the diversity of these sophisticated relationships and drive them forwards. But what works for one contact or KAM may not be appropriate for the next. How should pharma be formally assessing the performance of KAMs? And how are goals and measures affecting the evolving role of the successful KAM?
In February 2018 we talked to 10 KAM experts from industry front-runners including Takeda, Sanofi and GSK.
Find out how what they're doing about KAM metrics and how they're overcoming the issues.
Find out how to measure and monitor your most important business relationships more effectively.
We won't waste your time with old data and common knowledge. KAM Metrics: Driving efficiency and measuring success gives fresh new insight into what the market leaders are doing right now - and you definitely won't find this information anywhere else. This extensive report is jam-packed with valuable new qualitative research based on detailed interviews conducted last month (March 2018).
"Metrics can be used to facilitate cross-functioning as well as measure it. The selection of metrics can bring various priorities to the table. Specific metrics can provide information to the different functions and inform on what changes are needed with respect to each function's area of responsibility to ensure the continued delivery of value to the key account. Simply, metrics help to define the roles and responsibilities of KAMs and the various functions, creating a synergistic energy."
"The metrics tend to be established in the pre-launch phase. Metrics should be flexible throughout the process, but in reality, are not. It is rare that KAMs get involved early in advising what the metrics should be - though they are likely to be able to present and promote the most realistic system to get the best results. Sadly, what happens often is a cascade policy based on unrealistic expectations that will not necessarily get the best results for the product. The important thing is dialogue both with HCPs - by asking them the best way to sell to them - and with salespeople who know what a realistic expectation looks like."
If you aren't measuring KAM performance effectively, how do you or your KAMs know where to focus their attention? Getting the metrics right is key to developing more fruitful relationships. Getting them wrong hits profits.