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Predictive Analytics- Better means for effective pre-call planning

As pharmaceutical companies shift to multi-channel approaches and scrutinize promotional

spend, it is more important for the sales force which has the most direct customer contact to

maximize their effectiveness during sales calls. The way to improve direct customer

interactions is to use mobility—mobile tools and predictive analytics that provide real-time

information and productivity-enhancing features at low operating cost.

To achieve the full potential of analytics and mobility, pharmaceutical companies need to follow

a broader and interconnected strategic approach with a core set of execution activities.

Defining, developing and implementing a holistic analytics led mobile strategy for the sales

force can help pharmaceutical companies drive sales efficiency and productivity, improve the

customer experience and maximize cost management initiatives.

This white paper provides answers to many of these key questions including how to define a

comprehensive strategy to integrate mobility and predictive analytics into sales processes and

to develop a detailed implementation roadmap.

Introduction:

The days of turning up for a sales call with no advance planning and not much knowledge about

the physician are long gone. To compete and succeed solid pre-call planning information is

critical. Pre-call planning enables the representatives to qualify sales leads, target physicians,

and have an efficient engagement.

According to the Miller Heiman effectiveness study1, 63.4% of sales leaders agree that their

teams do not qualify leads as well as they should. Additionally, 55.9% of sales leaders agree

that their sales team wastes time pursuing poor sales leads and opportunities. Good Pre-call

planning is essential to qualifying leads and ultimately garnering better prescription share.

Today, pharmaceutical sales forces primarily use laptops or traditional tablet PCs to access

enterprise CRM solutions, read e-mail, or present digital, interactive promotional materials.

But these tools have their limitations—namely weight, portability, and costly hardware and

software support. Mobility provides added flexibility and new features that can significantly

improve medical representatives’ productivity.

The Increasing Cost of Sales Calls

Based on data gathered by Cahner’s Research2, as reported by the Direct Marketing

Association, the cost of a sales call has been steadily climbing by an average of $9.60 a year

since 1980, when it was just $126.00. At this rate, it is reasonable to expect the cost of a

sales call to reach $580.00 by 2020. As this cost continues to rise, it becomes increasingly

important to find ways to maximize the return on the investment in sales calls. Apt pre-call

planning helps to minimise the time to close, shrink sales cycles, and increase close rates

thereby playing an important role in increasing ROI.

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Pre-Call Planning: Why it’s Essential to Sales Success Today

Mining the right information about a physician is the key to establish physician’s

mindshare. And it’s at the core of the solution-selling sales strategy, an approach that

stresses a high comfort level between physician and medical rep is essential.

Diligent pre-call planning enables to learn about physician’s concerns, requirements

and other key influencing factors that can play an important role for a productive

discussion with the physician. As complex products and services drive longer sales

cycles and cost per call continues to climb, this ensures that calls are productive for

both the medical representatives and the physician.

Online Business Information Resources: The leading edge of Pre-Call planning

today, online business information resources are playing a pivotal role in enabling

sales organizations to obtain better, faster, more pertinent information for qualifying

leads. Less time-consuming than networking, attending seminars or other ways of

getting business information, online business information resources include all the

statistics and information salespeople need on one web site, which they can find them

instantly. Representing the latest evolution of pre-call planning, these resources have

become essential for an effective Physician-Rep interaction.

Predictive analytics of Pre call Planning

Multi-dimensional analytics can help the marketing team to react immediately to the needs

from the sales force with instant alerts and actionable insights, greatly improving efficiency and

productivity. Capturing how long physicians are observing the detail, the ability to accept

requests for extra information in real time and respond to these instantaneously can help to

measure the detail’s effectiveness and potentially the return on investment.

With an integrated CRM system, Pharma sales reps can record the information that shapes

the direction of business and establish effective pre-call planning. Information on physician

prescribing pattern and molecule choices captured from structured and semi-structured

databases allows the representative to have a 360 degree view of the physicians in their

target list.

Medical Representatives will have an opportunity to influence physicians with improved quality

of detailing, personalised messaging, faster fulfilment of needs and instantly reverting with

desired medical information requests and latest clinical trial reports with the help of mobile

applications.

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Summary:

Pre-call planning with the power of analytics and predictable insights can be a winning weapon

for the medical representatives. This aids in capturing and using information gathered in the

field to optimize resource allocation, cross sell and efficient asset utilization. Previously unseen

data trends and insights helps the sales force to access and quickly deliver insights and

relevant information to physicians.

References:

1. Mulcahy, Susan (2002), Evaluating the Cost of Sales Calls in Business-to-Business

Markets. Newton, MA: Cahners Research. 2. Miller Heiman Effectiveness Study, 2004

Tech Mahindra has extensive in-house competency to create & offer dramatic personalized

content. Our numerous client engagements spanning across multiple industries including life

sciences, financial services, telecommunications and many other vertical markets. These

engagements have not only served to deepen and strengthen our content creation expertise,

but have also enabled us to co-innovate with our clients to bring paradigm-shift in content

design. We believe that Digital content creation, review, approval etc. are very process

intensive tasks. With a good understanding of the situation Tech M has established ‘Creative

Service CoE’ to cater to creation if e-Detail content, personalized content for various

customers.

Physician Data

(Structured)

Physician Data

(Unstructured)

ERP

KOL

IMS

CRM

Case

Mgmt

DAMS

Consultative Sales Representative

Physician

visit plan

Improved Rx

Journal Subscription

Samples / Gifts

Conferences

Clinical trial Support

360o Pre-call View

Effective Engagement

Network, Cloud & Social Mobility, Analytics

Collect data from digital sources 360° Pre-Call view about Physician Deliver personalized message during call

Personalized Message

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About the Author

Dr. Palakodeti Ratnakar is Asst. Vice President, Life Sciences. With over 2 decades of

experience in Strategic Planning, Market Intelligence and Portfolio Management in companies

like Dr.Reddy’s, he has expertise across the Pharma value chain with particular focus on new

commercial models, design and delivery of strategic initiatives and large transformation and

change management programs in Pharmaceutical industry. He holds a PhD in Business

Management from JNTU. He can be reached at [email protected]