A CTOs model in Pharmaceutical CRM/SFA Vendor selection

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  • The pharmaceutical industry is rapidly changing. Expensive promotions and research & development (R&D) campaigns have become a crucial examiner of business towards customers and their needs. This is to simplify and streamline operations in order to get business.
  • Representatives today, need to be consultative in order to be effective with customers. When reps are consultative, it means they have all the answers to your questions. They know how to get answers too. Reps need to be energetic and confident in order to seal the deal.
  • In situations like this, Sales Force Effectiveness is what drives a company to success
  • What does Sales Force Effectiveness (SFE) begin with?
  1. An effective sales strategy.
  2. Structuring and sizing of the sales force.
  3. Designing incentive compensation plans.
  4. The setting of goals.
  5. Manage sales performances.
  6. Recruiting salespeople.
  7. Motivation sales force.
  8. Building a sales force culture.
  9. Coordination of sales and marketing.
  • How can technology help top sales executives with achieving all their business objectives?
  • The pharmaceutical industry has leaders that can execute a vision into reality. They use their vision as the guide to make the product. They provide services and demonstrations too. They have the ability to get the best results in the form of revenue and earnings.
  • When it comes to smaller, product-driven transactional sales organizations, they find the best opportunities in reducing sales cycle and improving sales management visibility.
  • On the other hand, larger and more complex sales organizations which support multi-tier, matrixed sales teams require a role- specific functionality. This is needed to have a strategic account. It is also needed for scalability and performance attributes which manage large amounts of data.
  • One of the biggest problem pharma companies face is the pricing pressure that was brought in by the Government. The next biggest problem is to justify why a specific drug is better than the industry standard.
  • What are the ways to select an SFA tool for your Pharma Company?
  • The SFA application enables Pharma organizations to automate sales activities processes and administrative responsibilities for sales professionals. Not all SFA systems are same and equal.
  • SFA has unique implications for each company. This is because of,
  1. Different selling styles
  2. Different organizational size
  3. Variety of sales processes
  4. Integrated demands
  5. Various number of users
  6. Diversity of roles
  7. Every organizational structure is unique
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  • What are the ways to select a CRM/SFA Vendor for Pharmaceuticals?
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  • Customer relationship management (CRM) is a term that refers to practices, strategies, and technologies that companies use to manage and analyze customer interactions.
  • Having a successful vendor selection strategy will help assess providers that support data requirements, access modes and functionality for each sales role. The sales processes dictate the functional components that best justify and satisfy organizational and individual sales requirements.
  1. It is critical to discover the ability of the CRM/SFA vendor who can handle more than 500 users across many geographical locations.
  2. A lot of pharma SFA vendors offer exaggerated sales reporting systems. They do not have complex sales effectiveness.
  3. There might be inconsistent in tracking records.
  4. Some offer different delivery models. And some differ at levels of functionality.
  5. “Will this vendor help my organization with sales?” – The one question you need to ask.
  6. Sales organizations mustn’t just evaluate a vendor’s suite of product offerings. They need to explore the market more. Only if this is done can one qualify a vendor to address all kinds of problems of your business. Depending on this, you will shortlist your vendors,
  7. Another question that you need to ask is, “Can the vendor offer the best solutions to meet the sales organization or not?”
  • Generic CRM Vendors VS. Specialty Pharma CRM Vendors:
  • Before implementing generic CRM tools like salesforce.com & Microsoft Dynamics CRM, it is important to decide everything that is needed beforehand to avoid confusion and doubt. You need to decide if the solution and platform are best for your Pharmaceuticals & Lifesciences Industry. If you have explored generic CRM solutions before, then you also understand that the solutions do not always support you. When you come across a solution that works for a “professional services company”, you must definitely know that it will not work for you without expensive customization.
  • How to choose between Pharmaceutical SFA and CRM?
  1. CRM – More focused on customer services, both for existing and new customers.
  2. SFA – Focuses on sales cycle.
  3. CRM – Driver for SFE in Pharmaceuticals.
  4. Information and analysis of trends improve SFE in the pharmaceutical industry.
  • Changing goals of Medical sales reps
  • The only way to add real value is educating oneself well about the product. Every detail needs to be studied well before execution of the plan. The therapeutic category and prescribing information need to be looked after. When you look into all this, you are an important part of the office.
  • Specialist sales roles
  1. A major focus is on medical science liaisons (MSLs) and specialists going forward with the need for samples in the office. The lowest tier is the UPS/FedEx delivery model. Middle tier – product-feature-benefit discussions. Highest tier – MSL.
  2. More the touches, the better it is for pharma. This can be through sales force or remote personal detailing.
  3. Messages delivered by campaigns and channels, for example, e-mail, direct mail, and sampling use nationally known physicians.
  4. Data and management of the process are facilitated by a campaign management database of the Pharma CRM.
  • About Veltrod:
  • Veltrod offers on-demand, affordable mobile SFA solution to manage end to end activities and performance of medical representatives, efficiently with ease. For a demo, please drop an email to sales@veltrod.in.

About Author

Zeina Sravya

Zeina Sravya

Zeina Sravya is a Marketing Technologist, a strategist & a visionary with experience in traditional & digital marketing. She is responsible for the development & execution of sales force effectiveness strategies, tools, processes for SFA for pharmaceutical companies. Lead key initiatives, critical projects & continuous improvement activities.

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