SOURCE: Cutting Edge Information

September 07, 2007 07:25 ET

Industry Leaders Shift Sales Force Tactics to Adapt to a Rapidly Changing Marketplace

RESEARCH TRIANGLE PARK, NC--(Marketwire - September 7, 2007) - 100% of surveyed companies reported that reduced physician access is their chief tactical challenge, according to a new study by pharmaceutical business intelligence leader Cutting Edge Information. The report, "Pharmaceutical Sales Management 2008," explores how companies are taking steps to reduce overexposure to sales reps in an effort to increase doctors' openness to sales visits.

Physician access is not a new problem for pharmaceutical sales forces. In fact, 100% of respondents in Cutting Edge Information's previous study two years ago also cited access as their primary challenge. In the latest attempts to earn back access into doctors' offices, which have been limited to a few hours per week or closed entirely, companies have reduced sales rep calls and the number of reps per doctor. Many companies, for instance, have shifted to a full-time sales rep-to-doctor ratio of 2:1; and one company has even reduced it further to a 1:1 ratio.

"Companies have definitely made adjustments to their sales tactics even over the course of two years," says David Richardson, a senior analyst at Cutting Edge Information. "This trend is a result of the rapidly changing marketplace. The mirroring and overexposure tactics that companies once employed were causing doctors to sharply limit reps' access. Companies have realized that in order to overcome access issues they must provide higher-quality information to help sales reps build stronger relationships with physicians."

The report examines pharmaceutical companies' sales investment, structure, strategies, and field tactics. Compiled from interviews and surveys with sales leaders at top-performing pharmaceutical companies, the report allows drug companies to compare and improve their own sales strategies.

Key metrics in the new pharmaceutical sales report include figures for the following areas:

--  Budgeting and Financial Support
--  Structure and Headcounts
--  Product Prioritization, Territory Alignment and Coordination
--  Sales Operations and Contract Sales
--  Training and Development
--  Sales Compensation and Reward Programs
--  Rep Activities
--  Segmenting and Targeting
--  Overcoming Reduced Physician Access
--  Optimizing Time Earned with Physicians
    

To download a free, online summary of this report, visit http://www.cuttingedgeinfo.com/pharmasalesmanagement/PH103_Download.asp#body.

Contact Information

  • CONTACT INFORMATON:

    For more information or to learn about other Cutting Edge Information
    research, contact:
    David Richardson
    Email Contact
    919-433-0216

    For media inquiries, contact:
    Stephanie Swanson
    Marketing Team Leader
    Email Contact
    919-433-0212