How Much are Marketing & Sales Capabilities
Really Worth ?BY PIYUSH TRIPATHI
MBA PM
M&S Capabilities have a definite impact on a company’s Financial Performance is a known fact. The problem here in identifying the key capabilities which contribute the most.
Major Factors that Matter Growth Expectation Participants & Stakeholders Promotional Activities
Conducted a research study to assess the relationship.
Investing in M&S Capabilities has a Significant Impact on the
Bottom-lineAccenture surveyed 68 senior M&S executives, representing 18 large pharmaceutical companies in NA.
The survey consisted of 400 questions covering the Strategy, Process, Technology & People.
Two Key Findings M&S Capabilities have a Significant
Impact on Financial Performance.[account for 42%]
Relatively Small Group of Capabilities Differentiates the High Performing Business Units.
[14 capabilities impacted]
Relationship b/w Financial Performance and M&S
Capabilities1. Highly Skilled and Motivated
Sales Force2. Sophisticated Sales Planning3. Excellence in Customer
Information Management4. Effective Leverage of Advertising
& Promotional Vehicles5. Ability to Understand Customer
Economics.
1. Highly Skilled and Motivated Sales Force
[$45m]Capabilities Financial Impact
Developing the right sales skills
$16 million
Effective sales compensation and
rewards
$15 million
Attracting and retaining the best sales talent
$14 million
1. Highly Skilled and Motivated Sales Force [$45m]
Intensive up-front training pays off because the representatives become productive faster.
Effective Compensation & Reward Programs, Straightforward Incentive Programs, Focusing on Key Metrics, Clear Communication.
Attracting and Retaining the Best Sales Talent and Building world-class Sales Executives, Development of Unique Culture.
2. Sophisticated Sales Planning [$24m]
Capabilities Financial ImpactConsultative selling
approach$12 million
Robust sales planning processes
$12 million
2. Sophisticated Sales Planning [$24m]
Robust Sales Planning Processes which are Methodical, Disciplined and Emphasize Close Integration and Cooperation.
This ensures that Marketing Strategies are effectively translated into Sales Training & Sales-delivered Programs.
Key Learning Points• Marketing and Sales are the most
important factors to increase Financial Performance.
• The heart of your business success lies in its marketing. Most aspects of your business depend on successful marketing. The overall marketing umbrella covers advertising, public relations, promotions and sales.
