June 7, 2024 – 7 min read
Just like a top sports team needs a solid game plan for winning, leading a pharmaceutical sales team is all about nailing the perfect mix of strategy and process. When it comes to enhancing performance, it’s important to get both strategy and process in sync. In this article, we’ll break it all down for you.
Consider strategy as the sales leader’s playbook, outlining a game plan that’s aligned with the overarching business goals. Just as a sports coach devises plays that capitalize on their team’s strengths and exploit opponents’ weaknesses, a robust strategy makes clear and compelling choices about where to focus efforts and what actions to take to gain a competitive advantage.
Your marketing team has set forth a brilliant strategy as a roadmap for positioning and selling your products effectively to healthcare providers (HCPs) and setting them apart from competitors. It’s now up to your sales team to execute flawlessly on that strategy. Much like a coach sets performance benchmarks for the team, the strategy also defines metrics for gauging success and failure.
To navigate potential challenges in the competitive and complex world of pharmaceutical sales, a robust strategy also anticipates the barriers that may emerge over the next 12-to-36 months, ensuring the team executes the game plan effectively and overcomes obstacles to secure a winning outcome.
67% of well-formulated strategies fail due to poor execution. Harvard Business Review
67% of well-formulated strategies fail due to poor execution.
If the strategy is the playbook, then the process is the team captain, leading the players through a series of repeatable steps to move a HCP from the early stages to a closed customer. It dictates how and when to execute each play, ensuring that every move aligns with the overarching strategy and goals of the company.
As with anything, the more complex you make something, the more challenging it will be for your sales team to adhere to it. By simplifying the process into essential components, sales leaders will enable clarity and ease of execution for their team.
The following elements can help guide your team to success and build lasting relationships with HCPs.
Technology plays a crucial role in the pharmaceutical sales process. In fact, according to a 2021 LinkedIn State of Sales Report, 77% of sales professionals say their sales organization plans to invest “significantly more” or “more” in sales intelligence tools. Consider technology as the high-performance gear that empowers the sales team to execute the plays with precision, efficiency, and agility. Integrating technologies into the sales process optimizes various aspects, from lead generation to securing commitments and ongoing customer relationship management.
77% of sales professionals say their sales organization plans to invest “significantly more” or “more” in sales intelligence tools. LinkedIn State of Sales Report
77% of sales professionals say their sales organization plans to invest “significantly more” or “more” in sales intelligence tools.
In the game of pharmaceutical sales, victory lies in striking the right balance between the coach’s strategic vision and the team captain’s on-the-field execution. Both are indispensable, yet their roles are distinct. A misstep can lead to missed opportunities.
By thinking of the sales process as the team’s playbook, detailing the steps and nuances of the game, and the strategy as the overarching game plan, sales leaders can shape the playing field and set the tone for success.
PDG is grateful to have a bench of experts with deep knowledge in this topic area. We especially thank James DiPofi and Laura Zeitler, whose expertise contributed valuable depth and insights to this article.
Learn how industry leaders are leveraging AI. Download our eBook today.
Concierge coaching offers personalized, flexible coaching support that boosts accountability and self-awareness, and rapid individual and team growth […]
Join Dan Snyder from Performance Development Group (PDG) and healthcare policy expert Chuck Collins for an in-depth discussion on the IRA’s key provisions and how it will impact your organization.