Strategies to Improve Operations and Competitiveness
Optimizing Pharmaceutical and Biotech Performance With Proven Solutions
The pharmaceutical and biotech industry has faced significant market dynamics in recent years that greatly impact bio-pharma reps. Alexander Group’s research shows:
- 75% of clinical trials are now occurring outside of Big Pharma companies
- 50% of new products are orphan drugs explicitly developed for rare diseases
- Additionally, the increasing acceptance of biosimilars as an alternative to expensive brand-name drugs impacted the market
To adapt to these evolving market conditions, high-performing pharma and biotech companies provide are adapting more patient-centric commercial models. Commercial changes include more investment in specialist commercial roles, reimbursement support, digital provider engagement, case management, patient support programs and patient access programs.
BioTech pharma companies should consider additional attributes to help their sales reps adapt to the evolving market headwinds and customer needs. This approach can include providing more training and support, investing in new technologies and developing a strong relationship with key stakeholders, such as healthcare providers and payers.
Alexander Group works with biotech leaders to establish sales strategies to support your go-to-market model with specific sales strategies that grow revenue and increase market presence.
How We Help
- Digital & virtual engagement: Enable sellers to interact virtually with hospital providers through advanced technology and digital capabilities to overcome limited access to providers.
- Omnichannel strategy: Develop a robust omnichannel process to work in tandem with the primary sales reps so they can focus more attention on high-priority accounts.
- Alternative resources: Identify the correct mix of core and alternative roles deployed to drive cost-efficient productivity and meet evolving customer expectations.
- Sales compensation: Align sales compensation programs with go-to-market strategy and ensure pay levels match therapeutic focus and sales motion.
- Research & benchmarks: Determine current and relevant data, trends, benchmarks and voice of customer research to help guide Sales, Marketing and Operations decisions.
Related Insights
Participate in Our Research
Briefing Offers- Commercial Practices to Drive Profitable Growth & Valuation 80% of healthcare companies are growing, with 45% having revenue growth goals that exceed their 2022 growth rates. Most healthcare executives are confident that they can achieve their 2023 revenue growth goals, which is the most optimistic outlook since the start of the pandemic.
- Digital Go-to-Customer Study Discover the industry trends, insights and frameworks on the digital impact on revenue growth, as well as recommendations for increased sales performance and growth in a digital environment.
- Digital Insights Study Digital means changing how companies engage with customers and enable their commercial teams. Determining where and when your customers interact with your products and solutions can impact your organization’s digital maturity and where to guide your investments.
- Healthcare: Marketing Trends and Investment Priorities Over 52% of healthcare leaders are investing more in marketing. Through the use of first-party data, organizations are doubling down on advancing segmentation and targeting practices and are repositioning marketing channel activities to better leverage valuable content that is relevant and useful to customers. Discover the leading initiatives healthcare executives are executing to better integrate marketing and sales through process automation and investing in the right tools.
- Healthcare Hospital Providers Survey Healthcare executives, physicians and surgeons were recently surveyed to determine their views on current industry trends and investments. From staffing and supply shortages to procedure volume and interaction preferences, discover what healthcare providers are prioritizing for the new year.
- Marketing Insights Study Over 150 marketing executives were interviewed to determine the marketing initiatives being prioritized to maximize customer lifetime value. From marketing roles and resource allocation to marketing mix, channels and spend, get the latest insights on where marketing leaders are investing to advance their organization’s marketing maturity.
- Revenue Operations Survey Over 200 executives in sales and revenue operations were surveyed across Business Services, Financial Services, Manufacturing and Distribution, MedTech, Health and Wellness, Media and Technology to determine the leading practices of world-class revenue operations organizations.
Upcoming Healthcare Events
-
Healthcare: Overcome Commercial Talent Challenges to Boost Performance and Growth
Virtual RoundtableAlexander Group recently conducted a comprehensive survey of nearly 200 North American commercial leaders to uncover the key challenges and best practices in managing commercial talent in 2023. In this interactive discussion, you will hear from the Alexander Group’s healthcare practice leads and other healthcare executives who will share their insights and experiences on how to:
- Navigate the labor market instability and talent funnel issues that are affecting the healthcare industry
- Upskill and reskill your existing commercial talent to match the evolving industry needs and shifting company priorities
- Win the race for talent by creating a compelling employer value proposition and a culture of engagement and retention
- Formalize a talent strategy that aligns with your business goals and supports your competitive advantage
- Incorporate diversity and inclusion practices into your talent strategy to foster a more inclusive and innovative workforce
-
Tuesday, June 20, 2023
1:00 p.m. – 2:00 p.m. ET -
Virtual
-
EMEA Sales Comp Community: First Sales Comp Design Question Everyone Asks: “What Are My Measures?”
Virtual RoundtableSales compensation weights and measures communicate both the sales strategy and the definition of success to individual sellers. In this way, selecting the appropriate measures can be the difference between a general plan that fails due to lack of specificity and a tailored plan that creates the role-specific outcomes required. In this virtual session for the EMEA Sales Compensation Community, we will share best practices on how to choose between the myriad of measure options available as well data on the best weight and measures used in the marketplace.
-
Wednesday, June 28, 2023
2:00 p.m. – 3:00 p.m. BST -
Virtual
-
-
Sales Compensation Symposium
Get the latest metrics, sales compensation and quotas insights/practices leading companies are using to drive revenue growth, manage costs and attract/retain talent. Registration is complimentary.
-
Tuesday, August 15, 2023
12:00 p.m. – 6:00 p.m. ET -
Virtual
-
-
Executive Forum
Join hundreds of senior sales, marketing, commercial and operations leaders to share stories of transformation, connect 1:1 virtually, and take away actionable ideas for how to win in an ever-changing 24×7 customer environment.
-
Wednesday, October 25, 2023 –
Friday, October 27, 2023 -
The Breakers | Palm Beach, Florida
-
Join our Pharma and BioTech Community
Alexander Group’s community enables leading executives to share insights and takeaways for immediate use. Participants engage with sales leaders in interactive discussions while gaining knowledge on best practices, pitfalls and challenges.
Practice Leadership
Alexander Group Can Help
Is your go-to-market strategy focused on sales productivity to ensure profitable growth?