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E-Folder - Technology Adds ROI to CRM
For sales reps and sales leaders alike, technology, like Customer Relationship Management (CRM) systems, will become increasingly important as we move toward the future. Many organizations have already invested in CRM systems and much has been written about how these systems have not delivered on
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
their promised results. Fortunately, the CRM industry is evolving with new innovations that will help drive better returns on sales force automation investments.
The Purpose of CRM
The idea behind CRM implementation is to improve the productivity of the sales organization by leveraging be
The Purpose of CRM
The idea behind CRM implementation is to improve the productivity of the sales organization by leveraging be
; 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
ter information. Salespeople can enter the latest plans and actions related to a contact, opportunity or account, and this information can be shared with sales management and other parties involved in the selling process. Because the data is updated in real-time, teams have the most current inform
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ation. The result is that the right hand knows what the left is doing—and the action plan for that customer becomes a coordinated effort.
In other words, CRM can make the selling process more efficient and collaborative, allowing everyone involved in the sales process to benefit from individual r
In other words, CRM can make the selling process more efficient and collaborative, allowing everyone involved in the sales process to benefit from individual r
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ps’ knowledge as soon as it’s inputted into the system. With the information gathered together, the output data is more robust for planning purposes. “Collaborative selling proponents claim it helps companies realize higher close rates, shorten the sales cycle and gain higher-value deals,” writes
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
Lisa Picarille in “Market Watch: Collaborative Selling” (DestinationCRM.com, Dec. 1, 2003).
The Disconnect
It sounds good--but in the past, the introduction of technology into a sales rep’s tried-and-true methodology often met with resistance. The reason? Frequently, implementation of CRM
The Disconnect
It sounds good--but in the past, the introduction of technology into a sales rep’s tried-and-true methodology often met with resistance. The reason? Frequently, implementation of CRM
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
systems didn’t result in anything concretely positive for salespeople.
In the past, “CRM was a repository for data, and it still is, to a certain extent,” says Chris Hens, COO of the San Mateo, Cal.-based White Springs. The salesperson put data into the system, and that data might be valuable to
In the past, “CRM was a repository for data, and it still is, to a certain extent,” says Chris Hens, COO of the San Mateo, Cal.-based White Springs. The salesperson put data into the system, and that data might be valuable to
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
the organization as a whole, but the salesperson never really got to see the benefits. “That’s the way of the past.”
“What gets customers excited [about the future of CRM] is the way that a CRM platform or its attendant applications can deliver something back to the salesperson,” Hens says. “A co
“What gets customers excited [about the future of CRM] is the way that a CRM platform or its attendant applications can deliver something back to the salesperson,” Hens says. “A co
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
puter is supposed to help you, but it can’t do that if it doesn’t have enough—or correct—information. The goal is creating enough information that the computer can give salespeople suggestions.”
Recognizing that greater user adoption is needed for sales leaders to reap the benefits of increased d
Recognizing that greater user adoption is needed for sales leaders to reap the benefits of increased d
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
ata, both in terms of quantity and quality, technology innovators have worked toward building a better mousetrap: applications that attach to companies’ CRM systems that actually help salespeople do their jobs better and faster.
To Drive User Adoption, Deliver Value
White Springs is among
To Drive User Adoption, Deliver Value
White Springs is among
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
those innovators working to improve the individual sales rep’s experience with CRM. White Springs helps Miller Heiman integrate its core sales processes with their client’s various CRM systems.
For instance, Miller Heiman’s Sales Access ManagerSM (SAM) allows salespeople to use Strategic Selling®
For instance, Miller Heiman’s Sales Access ManagerSM (SAM) allows salespeople to use Strategic Selling®
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
Blue Sheets and Conceptual Selling® Green Sheets that are hooked into the CRM platform—so salespeople can use the sales process electronically. Information they enter onto sales strategy sheets is automatically input into the CRM database. Salespeople like it because CRM now supports the sales pr
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
ocess they’ve bought into and use.
Applications that work in conjunction with CRM—in addition to sales methodology integration software—include software that provides information on territories, information on key players, decision makers, or competitors, or the right sales collateral for a given
Applications that work in conjunction with CRM—in addition to sales methodology integration software—include software that provides information on territories, information on key players, decision makers, or competitors, or the right sales collateral for a given
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
selling situation.
To deliver value to the sales force and increase adoption, Hens says, you have to know and include what they need—and each salesperson, each day, needs something different. “In essence, what we’re doing is creating a platform where sales ‘best practices’ or methodologies are c
To deliver value to the sales force and increase adoption, Hens says, you have to know and include what they need—and each salesperson, each day, needs something different. “In essence, what we’re doing is creating a platform where sales ‘best practices’ or methodologies are c
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
nnected directly into the CRM platform and can be engaged in the context of the everyday sales cycle. This, in turn, makes CRM more useful than just as a home for data,” Hens says.
With the advent of these kinds of applications, which can hook into CRM systems to provide immediate value to salesp
With the advent of these kinds of applications, which can hook into CRM systems to provide immediate value to salesp
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
eople, the future is wide open. As Hens says, “the way of the future is that people who have expertise in delivering the components that salespeople or sales managers need, right when they need it, will propel the movement forward.”
The Implications For Sales Leaders
“Sales leaders focus
The Implications For Sales Leaders
“Sales leaders focus
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
n two questions: What’s the problem? How do I fix it?” Hens remarks.
If user adoption is poor, there might not be enough data housed in the CRM system to answer those questions, or the data might not be accurate. User adoption can be driven by presenting an interface that helps the salesperson, b
If user adoption is poor, there might not be enough data housed in the CRM system to answer those questions, or the data might not be accurate. User adoption can be driven by presenting an interface that helps the salesperson, b
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
t sales leadership also plays a significant role: For CRM to be truly effective, and live up to that dream of ultimate functionality, adoption has to be driven by management, Hens says. “It needs to be made part of the business process. If each salesperson is doing his own thing, you’ll never reap
.
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
the benefits.”
With increased use of the CRM system by salespeople, more—and more reliable—data will be input into the system, and a more accurate analysis of problems and their solutions will be possible. Sales leaders will be able to take the next step toward innovation: analytics to determine
With increased use of the CRM system by salespeople, more—and more reliable—data will be input into the system, and a more accurate analysis of problems and their solutions will be possible. Sales leaders will be able to take the next step toward innovation: analytics to determine
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
what is and isn’t working in the sales process.
That accurate information can be used to perceive customer trends and make more accurate forecasts. And, when sales reps leave the company, their customer data doesn’t leave with them; it’s still a part of the CRM system, easy to access and reassign
That accurate information can be used to perceive customer trends and make more accurate forecasts. And, when sales reps leave the company, their customer data doesn’t leave with them; it’s still a part of the CRM system, easy to access and reassign
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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