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Pharmaceutical Sales Force Effectiveness Metrics: Are You Measuring the Wrong Things?
Eularis, June 2011, Pages: 59
With the ever increasing pressure to ensure maximum return on investment, sales force effectiveness (SFE) is becoming a high priority area in the global pharmaceutical industry. Sales force represents the largest spend in sales and marketing and yet study after study shows that the returns gained from this spend is not particularly strong and one recent IMS report found that pharma sales force effectiveness declined by 23% in the recent period of 2004 to 2005. Better metrics must be used to measure both the effectiveness and financial impact of SFE for this very significant budget.
The startling discovery that this comprehensive report uncovers is that the very metrics currently being used to assess sales force effectiveness are in fact themselves aiding its decline. Traditional pharmaceutical organizations are rigorously tracking and managing sales activity, but still falling short. Data emerging from the research concludes that current metrics are more focused on efficiencies than effectiveness – and do so to their own detriment. This report dissects current SFE metrics and their limitation for the pharmaceutical industry in the United States, Europe and Japan.
The report then discusses appropriate metrics to solve these problems and goes on to demonstrate implementation methods and issues. Sales force effectiveness is a difficult concept to measure, but doing so can push pharmaceutical companies past today’s hurdles and into increased productivity and sales.
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