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  • Digg It - In Sales - What Differentiates Top 5% Players?

    Recent exhaustive surveys suggest that only 5% of professional salespeople reach and remain at the highest level, which we call Level 3. A further 15% attain Level 2 status, but the majority, i.e.
    According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
    a massive 80% remain at Level 1 in terms of potential achievement.

    Level One salespeople sell products and depend on having the right technical solution for the customer’s specification.

    Level T
    ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

    Examples of combination products may in
    wo salespeople sell solutions, which changes their image from sales rep to business consultant and positions them as a potential strategic resource.

    Most salesmen and women manage to advance from
    lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

    Level 1 to Level 2 fairly easily but unfortunately; many find breaking through that final glass ceiling extremely difficult i.e. moving from competitive sales professionals to collaborative sales c
    here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
    onsultants.

    Level Three salespeople are able to first identify and then capitalise upon the political component within the buying process. They develop and sustain strong commercial relationships
    d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

    Combination pro
    t all levels within their accounts and these relationships endure because they are based on mutual respect and trust. Their clients feel secure, so secure, that they would be fearful of changing su
    ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
    pplier.

    Level Three salespeople rarely, if ever, lose an order that they really want because they are always in control of the sales cycle. They have identified that in marketplaces where product
    easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
    uniqueness and technical expertise are no longer enough, it is they themselves, that make the difference i.e. their superior skills.

    Three additional areas, which set Level Three players apart fro
    nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
    m the rest, are:

    Commercial Acumen: Collaborative sales professionals have high levels of strategic awareness and they can communicate comfortably with board level players, i.e. the economi
    and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
    c buyers using common language and terminology. Level 1 and 2 performers, unable to demonstrate credibility when discussing financial, commercial and political issues, are usually left behind and r
    ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
    quire assistance from a manager or director.

    Competitive Courage: In order to achieve consistent levels of success in today’s environment, it is necessary to be able to pro-actively target
    ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

    Following aspects would a
    competitors and their client base. Any individual, who lacks the guts for a fight and is not comfortable with competitive selling, will severely restrict their potential.

    Being Focused On Polit
    dd to the challenges in developing combination products:

    Which markets to tap where the combination products can do fairly well?
    Which combination prod
    ical Activity: You can of course question the legitimacy of politics, but you cannot deny their existence. The sales professional that fails to recognise the importance that politics play in vi
    cts are meaningful and rational?
    Which therapeutic categories to select?
    Which Combinations can address unmet needs of the patients?
    Do combin
    rtually every complex sale, will almost certainly consign themselves to a career at Level 1. No one ever said that we must take part in the political game, but recognising that a game is being play
    tions increase the patient compliance?
    What would be the developing cost?
    How to tackle the risks encountered during combination product developmen
    ed, whether we like or not is essential i.e. what you understand you can manage.

    However, I fully appreciate that most organisations will not necessarily need to populate their sales teams with Le
    t?

    As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
    el 3 performers even if they could find and afford them. There will always be tasks, functions and indeed markets where Level 2 or even Level 1 salesmen and women can comfortably exceed expectation
    ping new procedures for reviewing their safety, efficacy and quality.

    Professional from academic institutions, pharmaceutical industries, health care indust
    s. What is important is that we ensure we have the right Level where we need it most i.e. round pegs in round holes. If an organisation is attempting to compete in a market sector where Level 3 ski
    y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
    lls are required and yet their team is predominately at Level 2 in terms of expertise, experience and development, they are unlikely to consistently win the business they need, in order to fulfil t
    .

    As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
    heir financial ambitions.

    What I can say for certain, is that successful selling has become an exclusive club of highly skilled professionals where, for example, product knowledge, time management
    elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

    Companies that provide selfless information through particip
    skills, objection handling and closing skills are the cost of membership, not leadership.

    “How To Become A Top 5% Player” follows.

    Copyright © 2006 Jonathan Farrington. All rights reserve


    tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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