Bio-Technology
The Bio-Tech industry is evolving quicker than no other. Global market growth and transformation of digital capabilities are currently the top strategic priorities and will continue to be so.
The Bio-Tech industry is evolving quicker than no other. Global market growth and transformation of digital capabilities are currently the top strategic priorities and will continue to be so.
At PharmaFT we understand the pressures, but also the opportunities presented within this exciting and growth-focused sector. The Bio-Tech sector continues to re-invent ways to stay connected and deliver enhanced patient care.
We understand that in order to gain and retain the advantage, there is also a need to deliver not only world-class sales performance but to take a more strategic and value-based approach to meeting the demands of this dynamic marketplace.
We observe our clients managing a mindset shift of not only their internal teams that support sales performance but managing a mindset of the customer too. There is a realization of the need to manage, drive and improve customer expectations and moving away from a transactional approach to customer engagement and towards a more inclusive and engaging customer experience.
Of course, traditional sales calls and the quality of these across a broad range of customers are still pivotal but as customer expectations change and the business environment becomes increasingly competitive, there is a recognized need to build sales team and organizational capability across key areas that make the difference.
Understanding and reinforcing the reasons why your offer is valuable to the payer or customer. Value-Based Selling leads the conversation away from cost and towards the 'value' for the customer and ultimately, the patient.
Gaining leverage in both an established and emerging marketplace takes a concerted effort. Differentiation is key as is a great understanding of the marketplace dynamics and evidence required.
Determining 'value' through the customers' lens will help formulate tendering and negotiation variables that will deliver win's for the customer, for your organisation and for the patient.
Moving the conversation from a cost-based discussion to a partnership and co-creation of value is critical in Bio-Tech. Easily mistaken as a commodity, taking a strategic approach to important customer relationships ensures a level of competitiveness often saved for big Pharma.
Moving the organisation towards account management or value-based selling requires effort from the leadership. It also requires consistent, high-quality coaching and re-enforcement of the principles.
Connecting to the aims and aspirations of the wider organisation will assist in leveraging the entire business, it's knowledge and capabilities and will help in steering the business towards future growth and sustainability.
