Life sciences sales leaders face a consolidating, competitive and customer-driven landscape. Shareholders demand double-digit growth while customers want lower prices, more seamless channel experience and highly technical commercial resources that know their applications and industry. This new normal requires a go-to-customer model that is ready to compete in a complex, growth-constrained environment.
In parts one and two of this blog series we looked at the shift from a traditional “go to market” approach to a more nuanced, targeted “go to customer” strategy. That critical shift includes the creation, deployment and customization of new roles.
This article explores how life sciences revenue leaders are looking beyond the traditional sales model to develop a commercial strategy that also includes the marketing and service organizations. More specifically, how the use of low(er) cost resources and upleveling the field service engineer role can help forge the path to revenue growth.
Field Marketing and Inside Sales Unlock Paths to Productivity
- Field marketing has become an entry point into emerging markets. Companies are using this low cost role to generate relationships with key opinion leaders, target anchor accounts, build awareness and stimulate demand.
- Inside sales creates capacity for the organization at large. These throughput office-based roles have increased capacity and can cover less complex products and transactional or geographically dispersed accounts. Companies can leverage these roles to work in tandem with other field resources responsible for lower value activities.
Maximizing the Value of the Service Organization
- Field service engineers (sometimes known as remote technical support resource) are no longer just a “cost of business.” This elevated role provides an incremental source of revenue growth. The field service engineer not only conducts paid service but also pulls through after-market parts, consumables and service contacts. Companies are leveraging field service engineers for lead generation and after-market revenue.
Utilizing field marketing and inside sales to unlock capacity and maximizing the value of the service organization are two ways to achieve your revenue growth goals. Stay tuned for the next part of our trends series to learn more about how sales and commercial leaders are winning in this changing environment.
The experts in Alexander Group’s Life Sciences and Analytical Instruments practice have extensive experience, frameworks and benchmarks to ensure your go-to-customer strategy will allow you to meet the profitability and revenue growth needs of your company.
Contact us today to leverage AGI’s thought leadership for your commercial planning.
Read the other articles in this series:
Part 1
Part 2
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About the Author
Matt Greenstein is a principal based out of the New York and Stamford offices. He works with clients across technology, life sciences and healthcare. He has responsibility for leading the firms Life Science and Analytical Instrument, Health Insurance, and Digital Transformation practices. His areas of focus include large scale transformation and integration across all commercial functions–tactical marketing, sales and service. Matt has global consulting experience and is known for his fact-based, hypothesis-driven, problem-solving style.