Useful Advices - Business

It's not poor skills or laziness but when management is fighting fires, a sales staff is on its own and the numbers start falling.

Even with the high cos

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

t of hiring, training and letting go of a majority of sales staff recruits, keeping weak performers would be a mistake. But just how many qualified new re

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

cruits are being lost? There must be some way of finding out.

The Real Problem It doesn't make sense that most sales recruits are duds o

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

r that an existing sales staff can't do more. Management needs a better, more pragmatic approach that manages sales performance differently and avoids sal

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

es staff coasting.

Is it possible that the primary cause of the high attrition among new sales staff is from not making enough calls? If this is the case

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

, an unwavering discipline that ensures rapid notification of low sales appointment scheduling, followed by prompt management action, is in order.

A simp

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

le model:

An intuitive computer interface allows sales reps to log the pertinent details of all call activity on a daily basis
The next d

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

ay a follow-up contact is made by a designated caller regarding each meeting in the form of a confidential survey-like phone call, using direct questions

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

like:

Was our rep on time?
Did you accomplish what you had hoped to accomplish?
Would you meet again with our rep?

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

i>All collected information is provided to Sales Management for review and immediate follow-upThis approach accomplishes three key goals:

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

>Reduces the incidence of non-productive calls and fabricated activity

The customer or prospect is made aware that their time is considered valuab

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

le and that the quality of your representation is subject to critical review, as it should be

A additional and meaningful customer or prospect con

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

tact is accomplished

The sales staff is alerted that all sales call activity is promptly reviewed

For Sales Management there are importan

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

t benefits:

Being relieved of a critical task that is generally not performed well by management
Proactive early intervention and possible

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

remediation of good sales candidates

Timely and objective feedback relative to sales activity from customers or prospects for comparison with sal

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

es staff reportingThe continuous flow and diligent review of sales call activity can force a needed sales process turnaround to reduce the high

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

rate of sales recruit failure. The ROI of this important switch in process could be significant. For example:

· A sales staffing effort engages twenty (2

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

0) new staff in one year at an average total full-year cost of $50,000

· Each staff member goes through a three-month trial period

· Ninety-percent (90%

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

) fail, or $50,000 X 18 / 4 = $225,000

A reduction in attrition would also avoid additional replacement recruits, with a similar high chance of failure,

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

and the cost expended on failed efforts. A twenty-percent (20%) improvement would save $45,000 and four (4) sales recruits within just one round of hiring

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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One of the dynamics leaders should be looking out for is the propensity of certain personality types to be more interested in maintaining a high status within the group as opposed to working to arrive at good decisions.

Throughout the ages, virtually every society has valued its storytellers. Today, we continue to place a premium on people who have the ability to tell a story.

This article discusses the role of information technology in making your business successful and also emphasizes on the fact that the growth of business in an increasingly unstable environment would rely on effective utilization of information technology.

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Useful Advices - Sales Recruit Failures Cost $000,000s

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