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Useful Advices - Salespeople Enjoy the Price They Pay for Success
I received a call this week from a Texas client. In the course of our conversation, he told me that he had no choice but to terminate one of his salespeople because he was consistently failing to earn his draw.
“We’ve known f
“We’ve known f
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
or a long time that we needed to terminate this man, and today we finally got up the courage to pull the trigger,” he manager told me.
In the next breath, he said that the company’s overall sales were booming. “Our biggest pr
In the next breath, he said that the company’s overall sales were booming. “Our biggest pr
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
oblem right now is operations. Sales are so strong that we can’t keep enough drivers on the payroll to keep up with the work load.”
To many of you reading this column, these two statements may seem inconsistent. A salesperso
To many of you reading this column, these two statements may seem inconsistent. A salesperso
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
has lost his job because he couldn’t generate a satisfactory level of sales, yet overall, sales are booming. How could this be? I believe there’s a simple answer.
As a sales trainer, I frequently see this kind of inconsiste
As a sales trainer, I frequently see this kind of inconsiste
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ncy. And it’s taking place right in your community, perhaps in your very own company. Some salespeople are doing extremely well, while others are starving to death. As author Jim Rohn says, “It’s a mystery.”
In this particu
In this particu
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ar business in Texas, I am privileged to know that the top salesperson earns annual commissions in excess of $350,000. The terminated salesperson’s annual commissions were approximately $30,000, less than a tenth of the commis
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
sions earned by the sales leader.
Do you believe that the sales leader in this company is ten times smarter?
Or work ten times as hard?
Does he have ten times more product knowledge?
Could he be ten times more organized?
S
Do you believe that the sales leader in this company is ten times smarter?
Or work ten times as hard?
Does he have ten times more product knowledge?
Could he be ten times more organized?
S
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
nce I know both men, I know that the answer to each of these questions is absolutely not. The answer is simply that the under-performing salesperson was not willing to do the things that the high-performing salesperson was wil
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ling to do.
It’s been my experience that top performing salespeople focus not just on the present, but the future, as well. When business is booming, for example, that’s when their prospecting efforts are the most vigorous.
It’s been my experience that top performing salespeople focus not just on the present, but the future, as well. When business is booming, for example, that’s when their prospecting efforts are the most vigorous.
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
hey realize that sales and marketing activities are a part of selling that can never be ignored, even when business conditions are excellent.
When the market turns down, prospects are inundated by salespeople looking for an or
When the market turns down, prospects are inundated by salespeople looking for an or
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
der. But during boom periods, most prospects report that they rarely see a new salesperson. Doesn’t it make sense to do your prospecting when your competitors are fat and happy?
Top performing salespeople spend as much time
Top performing salespeople spend as much time
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
building new relationships and nurturing existing ones as they do engaging in the bidding process. Customers with whom you have good relationships will honor your quotes while prospects who are loyal to a competitor shop your
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
uotes. Top performers never miss an opportunity to grow their relationships by doing just a little bit extra.
Remember, what sales trainer, Zig Zigler says, “There’s no traffic jamb on the extra mile.”
It’s not that top perf
Remember, what sales trainer, Zig Zigler says, “There’s no traffic jamb on the extra mile.”
It’s not that top perf
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
orming salespeople enjoy doing the things that make them so successful. It’s just that they enjoy the results they get form their efforts. The very thought of failing is so horrifying to them that they are willing to do whate
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
er it takes to succeed.
For most salespeople, reading sales books, attending sales seminars and listening to audio-cassette tapes is not their idea of great fun. But the real sales pros, those who do well in good times and ba
For most salespeople, reading sales books, attending sales seminars and listening to audio-cassette tapes is not their idea of great fun. But the real sales pros, those who do well in good times and ba
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
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
d, are willing to go through the educational process because they like the results their efforts generate.
Many of the salespeople who attend my seminars are frequently the salespeople who actually need sales training the leas
Many of the salespeople who attend my seminars are frequently the salespeople who actually need sales training the leas
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
; they’re already earning top commissions. But the salespeople who are starving to death are often too busy to learn anything new. “I’ve heard all of that stuff before,” you’ll hear them say. “I don’t need sales training, I
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
need more competitive prices.”
The key is sales activities; that is, how salespeople are spending their time. In the selling profession, doing things right is not nearly as important as doing the right things. So monitor and
The key is sales activities; that is, how salespeople are spending their time. In the selling profession, doing things right is not nearly as important as doing the right things. So monitor and
.
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
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
measure how your salespeople are spending their time and you’re off to a good start at gaining control of your company’s destiny.
For 36 years, I have been fortunate to know and be associated with Zig Zigler, the famous speake
For 36 years, I have been fortunate to know and be associated with Zig Zigler, the famous speake
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
r and author. Of the many lessons I have learned from this great teacher, this one ranks near the top of the list: “You don’t pay the price for success, you pay the price for failure. You enjoy the price you pay for success.
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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