The rapidly evolving nature of Pharmaceutical marketing creates a constant set of new challenges to overcome. But there’s a real opportunity, to unlock new revenue with sales rep 2.0.
Paying much more attention to capturing data and tracking every dollar spent is more important than ever thanks to increased scrutiny like the Sunshine Act. HCPs are increasingly busy, and not as receptive to traditional sales pitches. So the role of Sales Rep must evolve to “Sales Rep 2.0,” building deeper two-way relationships that will ultimately unlock value both for HCPs and patients. The latest technology plays a vital role in making this shift a reality, and ultimately offers opportunities for pharmaceutical manufacturers to measure ROI in innovative ways and unlock new revenue opportunities.
Sales Rep networks represent the biggest slice of pharma marketing spend, so it’s a critical area for improvement. This includes several related elements:
- Reps need to ensure they deliver messaging around the value of the drug to the patient—how it works, what are the benefits, and how it compares to similar drugs on the market
- The Human Touch will endure and therefore Reps will either need to morph into Educators or be replaced by MSLs
- HCPs have complained that unless the Sales Rep can educate they were wasting the HCP’s time by simply dropping off samples & brochure materials. So, as well as setting up KOL meetings, Reps themselves need to become better educators
And it’s not just about educating the HCPs, the pharmas need to ‘close the loop’ by getting robust, actionable feedback so they can learn and improve going forward. In the past, feedback from HCPs (or speakers) after a speaker program event has been a slow, spotty, manual effort for the sales rep with inconsistent, local results that don’t filter up to strategic improvement. Now the latest tech facilitates Real Time, immediate feedback from program attendees (HCPs), providing more accurate and more accessible information faster. Survey content can also be improved to be more powerful, going beyond traditional basic questions about venue and speaker, to more compelling questions about value to the HCP (e.g. did you learn how to better use your drug with new patients, will it help you with your practice, etc.). Increasing HCP ‘customer satisfaction’ by improving the speed, accuracy and quality of follow up responses from Sales Reps. The very latest tech provided by Pharmagin will even automatically identify HCP attendees based on their location, and serve them the appropriate post-event surveys at the best time.
Building this improved relationship, demonstrating increased value, and continually improving the effectiveness of speaker programs are of mutual benefit to the pharma and HCPs. These are all ways that a pharma company can improve the ROI of its speaker programs and unlock opportunities for new revenue.
- For HCPs, better education on drugs, proper feedback, and continual improvement with the Sales Rep and drug provider; customer intelligence and business analytics that drive the improvement of the HCP’s medical practice
- For Pharmas, improved ROI of sales and marketing expenditures on Speaker Programs, Advisory Boards, Product Theatres, etc. through the utilization of valuable HCP attendee analytics
Pharmagin’s cloud-based system is uniquely able to tie all this information together, offering a complete reporting and analytics solution. This solution includes tailored reports for different stakeholders in medcomm agencies or pharmas, delivered automatically each week, month and quarter. Additionally, it includes the capability to create fully customised reports to address particular client goals. And it even incorporates a complete Business Intelligence system so clients can drill down and create their own unique reporting.
Get in touch for a free demo now, to see how you can unlock new revenue with sales rep 2.0