Our white paper series, begun in 2007, is a series of articles offering support in topics related to biopharma sales and marketing. New articles are continually released, so feel free to contact us if you would like to be added to our white paper mailing list or to request a copy of past white papers.
Here is a sampling of some articles from our white paper series:
Breathing New Life into Mature and Established Brands
Just because a brand has reached the maturity or LOE stage of its product life cycle doesn’t mean it can no longer make a splash in the marketplace. Whether your brand has just begun to decline or has been declining for years, targeting the right physicians—the physicians who respond—can breathe new life into it.
Case Studies Showing the Power of a Good IC Plan
Good sales incentive plans can have a huge impact on sales. This point is never clearer than when a good sales incentive plan replaces a poor sales incentive plan. Over the years, The Marketing Advantage has had the opportunity to participate in countless of these transformations and has seen dramatic increases in sales by designing an IC plan that motivates and energizes the sales force. This White Paper will present three case studies that demonstrate the impact a good sales incentive plan can have on sales.
Is Your Sales Incentive Plan Driving Sales? Three Simple Assessments Will Tell You
Oftentimes, pharmaceutical companies are unaware of how effective—or ineffective—their IC plans really are. Though they acknowledge that their IC plans aren’t perfect, they don’t realize how detrimental a less than good IC plan can be. Not only are such IC plans demotivating to the sales force, but they are actually hurting sales. In this article, we present three simple assessments that can shed light into whether an IC plan can be more effective.
Marketing and Sales Data Warehouse: Simple Retrieval or Intelligent Querying
There is a myriad of data that pharmaceutical and biotech companies have and these data sources can come together in a single data warehouse. Too often, the data warehouse is just a repository of data from which the user can retrieve information. Such data warehouses do not add to the productivity of the user and may in fact cost the user time and answers. What you want from your data warehouse is for the information to be available to you to perform intelligent queries—queries that provide insightful answers to questions and not just data. This article will discuss that difference.
When Simple Isn’t Simple: The True Way to Evaluate the Simplicity of an IC Plan
As the healthcare industry continues to grow more and more complex, the need to increasingly simplify IC plans only grows stronger. This growing divide makes evaluating the simplicity of an IC plan more challenging than ever, ultimately requiring a more multifaceted and not-so-simple approach to simplicity. This White Paper outlines the most effective way of viewing simplicity in order to ensure that the IC plan is as motivating and energizing as possible.
"Shower Cap” IC Plans: The Limitations of One-Size-Fits-All Solutions
Despite the uniqueness of the pharmaceutical and biotech industry, many companies utilize one-size-fits-all solutions in their IC design. However, these "Shower Cap" IC plans are unable to address the unique needs and challenges not just of the individual company, but the individual sales force and individual product as well. This White Paper reveals the limitations of "Shower Cap" IC plans and the power of an IC plan that is customized exclusively for each product.
Right on Target: Case Studies of Dynamic Targeting™
This White Paper presents two case studies of our Dynamic Targeting™ methodology, both of which are especially relevant in today’s pharmaceutical landscape. In one, a company seeks to switch prescribers from a competitive product to its newly acquired product. In the other, a company seeks to slow the erosion of sales of a brand that had lost patent protection. These scenarios have become increasingly more difficult to navigate today, with these case studies shedding light on how to emerge victorious.
The Value of TeleDetailing
This article investigates the value of one form of non-personal promotion—teledetailing. Although teledetailing has been facing increasing skepticism over the past few years, this article examines how impactful this channel of promotion truly is when executed properly.
Targeting Methods: The Ugly, The Mediocre, and The Good
This article explores various targeting methods. One of these methods is cyclical in popularity with ugly results. A second method is more traditional and produces mediocre results. The final method is newer and has been shown to provide statistically superior results--the good.
Just How Much Does a Good Sales Incentive Plan Matter?
The Marketing Advantage®, Inc. examines how much impact a sales incentive plan makes and what the impact is when a poor plan is changed to a good plan.
…Then You Just Might Have a Bad IC Plan
It is not uncommon for the pharmaceutical companies with the worst sales incentive plans to not even realize that their IC plans are bad. This article points to conditions (some tongue-in- cheek) that will help you identify if your IC plans need improvement.
Pharmaceutical Targeting Isn't Horseshoes or Hand Grenades – Close Misses Don't Count
Given the importance of selecting the correct targets for one's sales force to pursue, it is surprising that so few pharmaceutical companies know how good—or bad—their targets are. This article introduces a targeting methodology that The Marketing Advantage®, Inc. created that is based on a specific set of criteria that helps to pinpoint the problem areas with one's targets.
Why Am I Over Budget When National Attainment is Below Goal?
All pharma companies have sales incentive budgets for their sales force. If the IC plan is a goal-based plan, as most are today, then the amount actually spent can vary a great deal from the amount budgeted. This paper looks at some common issues regarding budgets and corresponding solutions to overcome them.
Determining Call Frequency for Targets—A Better Way
Nearly all pharma and medical device companies determine call frequency for targets based on response curves. Unfortunately, this method has high levels of error and only uses a small portion of information available on prescribers. This paper presents a better way to set call frequency for targets.
Does It Matter If Your Sales Incentive Plan Isn't Fair?
Many pharmaceutical companies just assume their sales incentive plans are equitable. This article explores what the cost, in lost profits, is to a pharma company that has sales incentive plans that are not equitable.
Getting Optimal Feedback from the Field on IC Plans
It's a good idea for pharmaceutical and biotech companies to get feedback from the sales force on what they think of their sales incentive plan. This article explores different ways to effectively get the best possible feedback.
Where the Big Fish Are Biting
Pharmaceutical and biotech companies often look to target the main users of their type of product. However, you don't want to just identify the big users, but the big users who are most receptive to switching to and using your product.
A Bedtime Story on How to Eliminate Data Issues in Your IC Plans
Pharmaceutical companies rely on data vendors for their sales data. Unfortunately, this data often has various anomalies that can put your IC plan in jeopardy. This paper explains how to mitigate those problems.
How to Up-Size Sales with a Down-Sized Sales Force
By changing the way you target your prescribers, you can realize a huge increase in the efficiency of your calling activity.