Study Links Effective Launch Training for District Sales Mangers to Successful New Product Launches in Pharmaceutical Sector
CHAPEL HILL, N.C., Aug. 12, 2016 /PRNewswire/ -- The success of a new pharmaceutical product launch historically has been linked to the effectiveness of an organization's sales force.
In the past, that meant the sales representatives working in the field. But savvy pharmaceutical companies are beginning to focus more attention on preparing and measuring performance of the front-line District Sales Managers (DMs) – the leaders who oversee launch-related sales activities in the field.
To help sales leaders better understand this rising issue, Best Practices, LLC conducted a study that identifies the extent, content, channels, venues, and timing of training to prepare DMs for launch. The study also looks at performance metrics companies are using to ensure these front-line managers are accountable for field results.
Interestingly, study participants said front-line sales management performance assessments are either conducted frequently (64 percent said monthly or quarterly), or virtually not at all (36 percent said once or twice a year or there is no formal measurement in place). More frequent performance assessments helps reduce complacency and improve overall front-line manager impact, one sales leader said.
"I think it is the same thing as the representative. If somebody isn't there to observe and coach you, you fall into bad habits. You forget things, there isn't an awareness of what your areas of opportunity are," said an executive director of sales for a top 20 pharma company.
"New & Effective Front-Line Management Training Practices to Optimize Performance & Grow Accountability at Launch" uses external benchmarks and executive interviews to ascertain the most appropriate manager training amount and topics for a new product launch. Likewise, the research gathered qualitative and quantitative data to surface current practices and tactics to make front-line managers more accountable for launch performance.
Key topics addressed in the study include:
- District Manager Training
- Evaluate Training Platforms
- Timing of Sales Force Launch Training
- Measurement of DM Accountability
- Sales Training Operations Metrics
For this study, Best Practices, LLC engaged 20 sales leaders from 20 biopharmaceutical companies.
To access the full 58-page report or to download a complimentary summary: http://www.best-in-class.com/rr1438.htm.
For related research, visit our Best Practices, LLC website at www.best-in-class.com/.
ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking and advisory services firm serving pharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and most of the top 50 pharmaceutical companies. Best Practices, LLC believes in the profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies.
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SOURCE Best Practices, LLC