Nine Dimensions Of Commercial Excellence (Sandeep Bhat)
-
Upload
sandeep-bhat -
Category
Documents
-
view
7.443 -
download
2
description
Transcript of Nine Dimensions Of Commercial Excellence (Sandeep Bhat)
1 13 December, 2011
Sandeep Bhat
Nine Dimensions of Commercial Excellence Dimensions , Networks, and Accelerators
13 December 2011 – Scottsdale, Arizona
2 13 December, 2011
About MphasiS
• Observations
• Definitions
• Interactions
• Dimensions
• Accelerators
Agenda
3 13 December, 2011
Key Observations
Patient Centricity
• Effects of multichannel and digital marketing, social media and accessing the core customer and consumer – the contemporary idea of an e-patient
• DTC enables both an increased level of closeness to customer while also heightens risk and rapidity of information flow
M&A and BD&L vs. Internal Productivity
• Firms now question what is the “core” parts of their business and its operation and debate what to in-source versus out-source
• Firms seek partners amongst their industry peers for research, development, manufacturing, sales, and/or marketing
Rising R&D Costs
•Expected creeping of the cost of doing business in knowledge management and information-intense industry
•Explosion of novel data and insight in discovery research
Patent Expirations and Product Pricing
•Many expirations are to happen in the near future •Legacy product lines actively search for line extensions while generics and biosimilars present viable threats
•New and emerging public healthcare models are changing the way firms work with payors and rapidly affect where, how much, and who
Global Commercial Excellence
•Firms sincerely need to ensure both Sales Excellence and Customer Excellence – towards a whole host of stakeholders (patients, physicians, providers, formularies, payors)
Real World POV
Consumerism
Organic vs. Inorganic Growth
Cost of Innovation
Licensing and Pricing Models
Emerging Marketing and Sales Models
Business and IT POV
4 13 December, 2011
Commercial Excellence Core Definition
Commercial Excellence force, embracing all commercial interactions with
customers. The ultimate aim is to optimize impact by maximizing profit
contributions on all levels. COX comprises of (COX) goes far beyond the
activities of sales :
• Sales Excellence: Improves the performance of the traditional
biopharmaceutical sales model
• Customer Excellence: Seeks to maximize the impact of interactions with an
growing group of customers and stakeholders
Sales
Excellence
Customer
Excellence
Performance Interactions
Profit
5 13 December, 2011
Interactions
Biopharma Rep
Patient
Physician
Provider
Formulary
Payer
Peers
Contact Center
Webinars, CME
E-Detailing
Social Media
Portals
Market Access Team
Sales Excellence Customer Excellence
Customers
6 13 December, 2011
Dimensions
Commercial Excellence
Customer Relationship Management
(CRM) Key Account Management
(KAM)
Sales Force Capability
Enhancement
(SFCE)
Targeting
(Tar)
Business Efficiency
Management
(BEM)
Resource Deployment & Development
(RDD)
Promotional Mix
(PM)
Marketing Excellence
(ME)
Alternate Sales
Channels
(ASC)
Sales
Excellence
Customer
Excellence Profit
7 13 December, 2011
Customer Relationship Management
Commercial Excellence
CRM
KAM
SFCE
Tar
BEM RDD
Prom Mix
Mkt Ex
ASC
Place the customer's needs first
•Deeply understand your customers
•Align organization's capabilities to
deliver better value to customers
Impact
•Addresses prospective and attractive
customers through a proper channel
•Decreases customer service costs
and improve returns
• Improves customer retention by
providing customized and tailor-made
offerings
8 13 December, 2011
Key Account Management
Commercial Excellence
CRM
KAM
SFCE
Tar
BEM RDD
Prom Mix
Mkt Ex
ASC
Manage the key stakeholders
•Physician
•Formulary/Pharmacy
•Provider
•Payer
Impact
•Account specific focus
•Account based strategy
•Customized/flexible pricing strategy
•Tailored messaging and
communication
•Secure customer commitment and
future customer access
9 13 December, 2011
Sales Force Capability Enhancement
Commercial Excellence
CRM
KAM
SFCE
Tar
BEM RDD
Prom Mix
Mkt Ex
ASC
Enable sales force
Accurate Product/Customer/Market
Data
Availability even on an offline mode
Mobile solutions
Impact
•Availability critical business data
• Improved planning
•Enhanced customer engagement
•Better Response
• Increased returns
10 13 December, 2011
Targeting
Commercial Excellence
CRM
KAM
SFCE
Tar
BEM RDD
Prom Mix
Mkt Ex
ASC
Right profiling for right positioning
•Customer profiling
•Product positioning
•Right messaging
Impact
•Right reach and penetration
•Better customer insights
•Message/communication
optimization
•Sustained CRM
11 13 December, 2011
Business Efficiency Management
Commercial Excellence
CRM
KAM
SFCE
Tar
BEM RDD
Prom Mix
Mkt Ex
ASC
Focus on effective KPIs
• Identifying effective KPIs
•Gaps in effectiveness measurement
•New KPIs
Impact
•New or innovative value delivering
KPIs
•Consistent evaluation of product
knowledge/selling skills
•Performance management
12 13 December, 2011
Resource Deployment and Development
Commercial Excellence
CRM
KAM
SFCE
Tar
BEM RDD
Prom Mix
Mkt Ex
ASC
Bringing right practices
•Right resources
•Appropriate orientation
•Proper development plan
Impact
• Improved PMP(per man productivity)
•High employee satisfaction levels
•Consistent learning
•Right recognition
•Enhanced organization-employee
alignment
13 13 December, 2011
Promotional Mix
Commercial Excellence
CRM
KAM
SFCE
Tar
BEM RDD
Prom Mix
Mkt Ex
ASC
Optimization of promotion mix
•Personal Selling
•Sales promotion
•Advertising
•Public relations
Impact
•Optimal utilization of conventional
sales force and alternate channels
•Right channel for right customers
•Right approach for right
•Communication
•Right methodology to enhance
equity(brand or corporate)
14 13 December, 2011
Marketing Excellence
Commercial Excellence
CRM
KAM
SFCE
Tar
BEM RDD
Prom Mix
Mkt Ex
ASC
Successful management of 4Ps
•Product
•Price
•Place
•Promotion
Impact
•Effective execution of strategy
•Maximizing returns
•Appropriate PLC management
•Optimal stakeholder management
15 13 December, 2011
Alternate Sales Channel
Commercial Excellence
CRM
KAM
SFCE
Tar
BEM RDD
Prom Mix
Mkt Ex
ASC
Other than „conventional channel‟
•E-detailing
•Webinars
•Focus group meetings
•Panel discussions
•Social media
•DTC
Impact
•3600 customer experience
•Understanding customer
environment
•Customized customer engagement
• Instant feedback
•Customer excellence
16 13 December, 2011
Biopharma Rep
Patient
Physician
Provider
Formulary
Sales Excellence
Customers
Dynamic Detailing
Interaction Analytics
CRM
SFA
Sales Analytics
eLearning
Payer
Accelerators for Sales Excellence
17 13 December, 2011
Patient
Physician
Provider
Formulary
Payer
Peers
Contact Centre
Webinars, CME
eDetailing
Social Media
Portals
Market Access Team
Customer Excellence
Customers
Multi-channel Marketing
Web Analytics
Dynamic Mail Template
Social CRM
Social Media Analytics
Mobile Apps
Accelerators for Customer Excellence
18 13 December, 2011
C 2011 MphasiS
The information contained herein is subjected to change without notice.
Thank You
Sandeep Bhat