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Nine Dimensions Of Commercial Excellence (Sandeep Bhat)
- 1. Nine Dimensions of Commercial Excellence Dimensions , Networks, and Accelerators 13 December 2011 – Scottsdale, Arizona Sandeep Bhat 1 13 December, 2011
- 2. About MphasiS Agenda • Observations • Definitions • Interactions • Dimensions • Accelerators 2 13 December, 2011
- 3. Key Observations Real World POV Business and IT POV Patient Centricity Consumerism • Effects of multichannel and digital marketing, social media and accessing the core customer and consumer – the contemporary idea of an e-patient • DTC enables both an increased level of closeness to customer while also heightens risk and rapidity of information flow M&A and BD&L vs. Internal Productivity Organic vs. Inorganic Growth • Firms now question what is the “core” parts of their business and its operation and debate what to in-source versus out-source • Firms seek partners amongst their industry peers for research, development, manufacturing, sales, and/or marketing Rising R&D Costs Cost of Innovation •Expected creeping of the cost of doing business in knowledge management and information-intense industry •Explosion of novel data and insight in discovery research Patent Expirations and Product Pricing Licensing and Pricing Models •Many expirations are to happen in the near future •Legacy product lines actively search for line extensions while generics and biosimilars present viable threats •New and emerging public healthcare models are changing the way firms work with payors and rapidly affect where, how much, and who Global Commercial Excellence Emerging Marketing and Sales Models •Firms sincerely need to ensure both Sales Excellence and Customer Excellence – towards a whole host of stakeholders (patients, physicians, providers, formularies, payors) 3 13 December, 2011
- 4. Commercial Excellence Core Definition Commercial Excellence force, embracing all commercial interactions with customers. The ultimate aim is to optimize impact by maximizing profit contributions on all levels. COX comprises of (COX) goes far beyond the activities of sales : • Sales Excellence: Improves the performance of the traditional biopharmaceutical sales model • Customer Excellence: Seeks to maximize the impact of interactions with an growing group of customers and stakeholders Performance Interactions Sales Customer Excellence Profit Excellence 4 13 December, 2011
- 5. Interactions Patient Peers Contact Center Physician Webinars, CME Biopharma Rep Provider E-Detailing Social Media Formulary Portals Payer Market Access Team Customers Sales Excellence Customer Excellence 5 13 December, 2011
- 6. Dimensions Customer Relationship Management Alternate (CRM) Key Account Sales Management Channels (KAM) (ASC) Sales Force Marketing Capability Excellence Sales Customer Excellence Profit Excellence Enhancement (ME) (SFCE) Commercial Promotional Mix Excellence Targeting (Tar) (PM) Resource Business Deployment & Efficiency Development Management (RDD) (BEM) 6 13 December, 2011
- 7. Customer Relationship Management Place the customer's needs first • Deeply understand your customers • Align organization's capabilities to CRM deliver better value to customers ASC KAM Impact • Addresses prospective and attractive Mkt SFCE customers through a proper channel Ex Commercial • Decreases customer service costs Excellence and improve returns Prom • Improves customer retention by Tar providing customized and tailor-made Mix offerings RDD BEM 7 13 December, 2011
- 8. Key Account Management Manage the key stakeholders • Physician • Formulary/Pharmacy CRM • Provider ASC KAM • Payer Impact Mkt SFCE • Account specific focus Ex Commercial • Account based strategy Excellence • Customized/flexible pricing strategy Prom • Tailored messaging and Tar communication Mix • Secure customer commitment and RDD BEM future customer access 8 13 December, 2011
- 9. Sales Force Capability Enhancement Enable sales force Accurate Product/Customer/Market Data CRM Availability even on an offline mode ASC KAM Mobile solutions Impact Mkt SFCE • Availability critical business data Ex Commercial • Improved planning Excellence • Enhanced customer engagement Prom • Better Response Tar • Increased returns Mix RDD BEM 9 13 December, 2011
- 10. Targeting Right profiling for right positioning • Customer profiling • Product positioning CRM • Right messaging ASC KAM Impact • Right reach and penetration Mkt SFCE • Better customer insights Ex Commercial • Message/communication Excellence optimization Prom • Sustained CRM Tar Mix RDD BEM 10 13 December, 2011
- 11. Business Efficiency Management Focus on effective KPIs • Identifying effective KPIs • Gaps in effectiveness measurement CRM • New KPIs ASC KAM Impact • New or innovative value delivering Mkt SFCE KPIs Ex Commercial • Consistent evaluation of product Excellence knowledge/selling skills Prom • Performance management Tar Mix RDD BEM 11 13 December, 2011
- 12. Resource Deployment and Development Bringing right practices • Right resources • Appropriate orientation CRM • Proper development plan ASC KAM Impact • Improved PMP(per man productivity) Mkt SFCE • High employee satisfaction levels Ex Commercial • Consistent learning Excellence • Right recognition Prom • Enhanced organization-employee Tar alignment Mix RDD BEM 12 13 December, 2011
- 13. Promotional Mix Optimization of promotion mix • Personal Selling CRM • Sales promotion ASC KAM • Advertising • Public relations Mkt SFCE Impact Ex Commercial Excellence • Optimal utilization of conventional Prom sales force and alternate channels Tar • Right channel for right customers Mix • Right approach for right RDD BEM • Communication • Right methodology to enhance equity(brand or corporate) 13 13 December, 2011
- 14. Marketing Excellence Successful management of 4Ps • Product CRM • Price ASC KAM • Place • Promotion Mkt SFCE Impact Ex Commercial Excellence • Effective execution of strategy Prom • Maximizing returns Tar • Appropriate PLC management Mix • Optimal stakeholder management RDD BEM 14 13 December, 2011
- 15. Alternate Sales Channel Other than „conventional channel‟ • E-detailing CRM • Webinars ASC KAM • Focus group meetings • Panel discussions • Social media Mkt SFCE • DTC Ex Commercial Excellence Impact Prom Tar • 3600 customer experience Mix • Understanding customer RDD BEM environment • Customized customer engagement • Instant feedback • Customer excellence 15 13 December, 2011
- 16. Accelerators for Sales Excellence Dynamic Detailing Patient Interaction Analytics Physician CRM Biopharma Rep Provider SFA Formulary Sales Analytics Payer Customers Sales Excellence eLearning 16 13 December, 2011
- 17. Accelerators for Customer Excellence Multi-channel Marketing Patient Peers Web Analytics Contact Centre Physician Dynamic Mail Template Webinars, CME Provider eDetailing Social CRM Social Media Formulary Portals Social Media Analytics Payer Market Access Team Customers Mobile Apps Customer Excellence 17 13 December, 2011
- 18. Thank You Sandeep Bhat sandeep.bhat@mphasis.com C 2011 MphasiS The information contained herein is subjected to change without notice. 18 13 December, 2011