Recharging the pharmaceutical sales model
The salesforce at this pharmaceutical company was growing rapidly, but yielding lower returns. Bain helped design, track and analyze new sales model experiments that led to a plan for smaller, more focused selling teams. The result: 15 percent higher productivity and stronger relationships between doctors and sales representatives.
Rapidly escalating sales force levels yielding lower returns
Next Approach
The key recommendations include:
- Create smaller selling teams focused on fewer physician offices and physicians
- Reduce number of PharmCo reps that see the same doctor
- Treat physician offices as accounts rather than just individual doctors
- Train reps and district managers in account management skills
- Create single point sales manager accountability for products in a given region
- Change tracking measures to realign incentive system to new model
Next Results
PharmaCo's expected results from the new sales model include:
- 15% improvement in sales rep productivity
- 5-8% higher revenues on core products
- Stronger physician-rep relationships as measured over time
- Greater flexibility to add and remove products and resources
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