psmg meeting: 15 th july 2008 finding your ideal partner tell me and i forget. teach me and i...
TRANSCRIPT
PSMG Meeting: 15th July 2008‘Finding your ideal partner’
‘Tell me and I forget.
Teach me and I remember.
Involve me and I learn'Benjamin Franklin
Who we are
2008 onwards – co-founder of SHS 2002 – 2008 - Sales Director Servier UK 1999 – 2002 – Second line sales manager and
1st line manager trainer 1993 – 1999 – Regional Business Manager 1989 – 1993 – Medical representative and field
based trainer 1986 – 1989 – Retail store manager at William
Morrison plc
Other responsibilitiesPMCPA appeal boardABPI NHS task force
– 2008 onwards – co-founder of SHS– 2007 onwards – founder of Change
Factory Ltd.– 2000 onwards – Director & Co. Secretary
of inVentaBrand Ltd – 1989 – 2007 -Chairman and co-founder of
FXL Ltd– 1976 – 1989 -Senior sales and marketing
roles Mars Ltd– 1972 – 1976 -Retail store manager CRS Ltd
Steve HardyGary Bowler
2Copyright Strategic Healthcare Solutions Ltd. 2008
Expectations/reservations (from survey)
• Expectations1. A clearer insight into the decision
making process for key accounts. To transfer that to our own company to ensure we are targeting correctly.
2. New ideas on how to select Target Accounts
3. Insight into alternative approaches to establishing and operating within key accounts
• Reservations1. Either not relevant or nothing
new
3Copyright Strategic Healthcare Solutions Ltd. 2008
Workshop objectives
• By the end of this 90 minute workshop delegates will:– Have reviewed the criteria for selecting key
accounts – Have built realistic, personal back to work action
plans for the development of own customer accounts
Copyright Strategic Healthcare Solutions Ltd. 2008 4
Survey Results
1. Sales potential Sophistication Interest levels Relationships Access 2. Sales data e.g. Xponent, accessibility, attitude towards Market and Strategy
where known, local Rep knowledge, influencers 3. Historically we've used IMS Xponent to establish individual GP value and
then further segment. In hospitals, we've used IMS Hospital Profiler + to establish high value accounts. As we evolve our operation to one of "Account Based Selling", we no longer target individual customers but establish "virtual accounts" linking Primary care & Secondary care
Criteria for selecting individual target customers
Why?
1.We developed ourselves as key factors to choose customers to date 2.Seem relevant and are what is available 3.Not applicable as no longer targeting individuals
5Copyright Strategic Healthcare Solutions Ltd. 2008
Survey Results
1. Same as Q3 2. Individual customer sales (Xponent) and Account sales - Growth, own product,
total market and Market Share. Accounts priorities and initiatives around the therapeutic area. Product Champions, local influencers
3. A mix of IMS Xponent, IMS Hospital profiler & other sales data sources + Health Directions NHS data. This data is then analyzed at a local level and key accounts are determined for activity
Criteria for selecting key accounts
Why?
1. Same as Q4 2. As above 3. Early days but that's all we have available!
6Copyright Strategic Healthcare Solutions Ltd. 2008
What other criteria would you like to use in assessing which should be your Key Accounts?
• What else is available in our field ie PCTs? • More attitudinal data to identify potential prescribers not yet using in the
theraputic area • Networking information to establish who influences who!
7Copyright Strategic Healthcare Solutions Ltd. 2008
Customers needs have changed…UK Pharma needs to change
Yesterday Today TomorrowWas about seeing as many prescribers with as high frequency as possible
Is about managing your contact with all the key stakeholders
Is about working in partnership with your most valuable accounts, networking key influencers and decision makers effectively
Big sales teams who were good at detailing and achieving a call rate
Smaller but still high cost teams who can effectively target and sell
Highly skilled, much smaller sales teams who can build tactical and strategic relationships with customers
Sales teams were responsible for customer contact
A number of key specialist teams have developed to support sales effort
Everyone in the organisation will be customer facing
Marketing messages were exclusively clinically focussed and one size fits all
Today brand management still dominates but health economics is now on the agenda
Can your product improve the local service? A multi dimensional argument is needed.
8Copyright Strategic Healthcare Solutions Ltd. 2008
Key Account Management definition
Account management is about creating strategic relationships with customers that deliver long term profitable sales growth for you and help your customers to achieve their medium term goals
The Key Account Management process should take place at different levels in the organisation.
Company
Portfolio accounts
Business Unit
Disease area accounts
Brand team
Brand accounts
Healthcare Access Mgr
Regional Health Authority/Network/Buying Group
Rep
Hospital/Practice
9Copyright Strategic Healthcare Solutions Ltd. 2008
Key Account Management Process
10Copyright Strategic Healthcare Solutions Ltd. 2008
Key Account Management Process
• Determine and agree the selection criteria
• Assess all customers and map priority ‘KEY ACCOUNTS’
• Internally agree top 20 Key Accounts
• Allocate responsibilities for initial contacts
11Copyright Strategic Healthcare Solutions Ltd. 2008
What is an account ?
An account is an organised group of customers who share similar business goals and interests and whose buying / funding behaviour is co-ordinated in a consistent way
Examples: Primary Care Trust; NHS Trust; Networks; Strategic Health Authority
12Copyright Strategic Healthcare Solutions Ltd. 2008
The Customer attractiveness model, an intuitive model which segments and helps develop account strategy.
Firstly by assessing the HCE Market…..
13
RISK – What is the command and control status within the HCE
POTENTIAL – What is potential for growth and profitability within the HCE
Copyright Strategic Healthcare Solutions Ltd. 2008
…then their capability
14
WILL – are they motivated to engage?Do they understand their needs?Are they motivated to take positive action?
SKILL – are they previous fund-holders? Is there a local delivery plan in place?Are they competent at making the right decisions
Copyright Strategic Healthcare Solutions Ltd. 2008
Survey Results1. Sales potential - Individual customer sales (Xponent) and Account sales2. Growth, own product, total market and Market Share. 3. IMS Hospital profiler & other sales data sources4. Sophistication 5. Interest levels 6. Relationships 7. Access 8. Product Champions 9. Local influencers 10.Accounts priorities and initiatives around the therapeutic area. 11.Health Directions NHS data. This data is then analyzed at a local level and
key accounts are determined for activity
Your consolidated criteria for selecting key accounts
15Copyright Strategic Healthcare Solutions Ltd. 2008
Other selection criteria Influence over other
accounts Ability to engage with the
industry Alignment of agenda with
supplier Motivated to engage with
supplier• Market access situation:
– Formulary listing– Restrictions– Command and control
Market size and growth Profit growth potential Current sales Sales growth Advocacy
clinical and payer Ability to win Ability of account to
implement Time to win• Funding environment
16Copyright Strategic Healthcare Solutions Ltd. 2008
Prioritise the selection criteria• Split into teams of 8• Please take the opportunity to
pick 5 selection criteria as the most important criteria for prioritising your key account customers
• Please make your selection from the list on the previous page and record it on the right
• Be prepared to discuss your choices with the group
• Time: • 15 minutes to prepare• 20 minutes to discuss
1. -
2. -
3. -
4. -
5. -
17Copyright Strategic Healthcare Solutions Ltd. 2008
Next steps planning
• Working on your own• Consider and discuss each element of the
workshop and identify the major next steps that you will take in key account identification.
• Use the template over to complete your feedback
• Timing: – 10 minutes to prepare– 15 minutes to discuss
18Copyright Strategic Healthcare Solutions Ltd. 2008
Next steps planning
19
Next steps SupportResources
WhenFirst Person Resp. (FPR)
Copyright Strategic Healthcare Solutions Ltd. 2008
Appendices
Key Account Management Process
• Stakeholder identification and mapping
• Identify key decision-maker / influencer needs
• Understand competitor landscape
• Develop SoWOT analyses• Summarise customer
insights
21Copyright Strategic Healthcare Solutions Ltd. 2008
Key Account Management Process
• Select and appoint key players: Internal / External
• Establish Account responsibilities and ways of working
22Copyright Strategic Healthcare Solutions Ltd. 2008
Key Account Management Process• Historic performance• SoWhat analyses• Develop a joint vision for the
future• Establish common goals• Agree strategies and objectives• Formulate action plans• Agree KPIs and performance
targets• Create financial plan• Build contingencies
23Copyright Strategic Healthcare Solutions Ltd. 2008
Key Account Management Process
• Develop value proposition by category and brand– Clinical / Economic
• Implement the action plans– Sell and negotiate the
objectives– Contemporise understanding
of needs and customer insights
24Copyright Strategic Healthcare Solutions Ltd. 2008
Key Account Management Process
• KPI tracking and reporting• Performance review
meetings• Re-calibrate plan (+ / -)• Celebrate and communicate
success
25Copyright Strategic Healthcare Solutions Ltd. 2008