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Main Subject - How to Double Your Sales Appointments in Half the Time; Part 2
In Part 1, we summarized that you may have the best service in the world and the best widget in its category. But if you can't physically get in front of your targeted business prospects on a routine basis you won’t meet your revenue objectives.
And we discussed these (3) realities:
• If you double your new appointments y
And we discussed these (3) realities:
• If you double your new appointments y
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
ou will double your revenue... regardless of your closing ratio
• Not setting enough new business appointments leads to Sales employee turnover, sub-par revenue results and longer Ramp-to-Quota for new hires
• The communication act of asking for a Business appointment should be internally declared a KEY sales compe
• Not setting enough new business appointments leads to Sales employee turnover, sub-par revenue results and longer Ramp-to-Quota for new hires
• The communication act of asking for a Business appointment should be internally declared a KEY sales compe
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
tency and trained to individually
So logically, sales organizations should be willing to develop and provide ‘Best Practice’ support systems to their sales teams for ‘Measurable’ performance results in line with effectively setting sales appointments.
Why is a Conversation-to-Appointment Ratio a core sales competency?
Bec
So logically, sales organizations should be willing to develop and provide ‘Best Practice’ support systems to their sales teams for ‘Measurable’ performance results in line with effectively setting sales appointments.
Why is a Conversation-to-Appointment Ratio a core sales competency?
Bec
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ause it’s a sales skill set that is measurable around an essential task; sales prospecting and setting business appointments. It has a purpose and is directly tied to the end results; good or bad.
In this case, it is to introduce and education the value of your product or service to a specific individual or group. It initi
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ates your selling process. It doesn't matter if you are having this conversation by telephone, cold-calling in person, on elevators, or just yelling from one rooftop to another; it is a communication skill set that is essential to your sales success. It’s what you say and how you say it.
Here are a few prerequisites of whe
Here are a few prerequisites of whe
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
her or not something should be declared a core competency:
#1
Is it an essential component to the sales mission or is it just an ingredient in the recipe?
Think of a sports person. What are a golfer's essential competencies from tee-off to last putt? Are the ball and club core competencies? Or are the core competencie
#1
Is it an essential component to the sales mission or is it just an ingredient in the recipe?
Think of a sports person. What are a golfer's essential competencies from tee-off to last putt? Are the ball and club core competencies? Or are the core competencie
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
s the golf swing and putting stroke?
How about a basketball player with the essential competencies of passing, dribbling, and shooting?
Hint: Don't relate an Indy car pit crew putting gas in the fuel tank as a competency.
#2
You must be able to be measure it routinely and accurately. Ask yourself if you could measur
Hint: Don't relate an Indy car pit crew putting gas in the fuel tank as a competency.
#2
You must be able to be measure it routinely and accurately. Ask yourself if you could measur
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
e it with a napkin, pencil, and calculator?
That way you’ll be able to know if you're performing this business activity better than your competitors. It's sort of like knowing if your team is "Blocking and Tackling" better than your opponent's team in a football game. Because at the end of the day, it’s the individual
That way you’ll be able to know if you're performing this business activity better than your competitors. It's sort of like knowing if your team is "Blocking and Tackling" better than your opponent's team in a football game. Because at the end of the day, it’s the individual
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
(Or the team) with the best overall stats that wins.
#3
You should be able to apply "Timely Training" and "Powerful Routines" around each core competency.
We all know what sales training is. But do we understand why sales training fails?
And to understand this…it becomes important to understand what I mean when I us
#3
You should be able to apply "Timely Training" and "Powerful Routines" around each core competency.
We all know what sales training is. But do we understand why sales training fails?
And to understand this…it becomes important to understand what I mean when I us
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
e the term…"Timely Training."
Timely Training means you have in place appropriate structures for learning and application. You have to be able to define useful short-term goals, long term objectives and performance benchmarks, but also measure each participant’s progress. Have participants work closely with qualified traine
Timely Training means you have in place appropriate structures for learning and application. You have to be able to define useful short-term goals, long term objectives and performance benchmarks, but also measure each participant’s progress. Have participants work closely with qualified traine
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
s for proper follow-up and support.
But most importantly…"Timely Training" should be focused on only one key sales competency at a time.
That means you never move on to your next training objective (In-line sales competency) until your intended ‘benchmark’ performance metric is realized.
"Powerful Routines" are Best Prac
That means you never move on to your next training objective (In-line sales competency) until your intended ‘benchmark’ performance metric is realized.
"Powerful Routines" are Best Prac
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
tices internal to each Core Competency that result in the highest ratio of success. It’s a technique or communication process that through experience has proven to get the best result parallel to a particular sales scenario.
As an example, when a prospect says “Just send me some information” we identify that communication
As an example, when a prospect says “Just send me some information” we identify that communication
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
as an objection. 95% of the time it’s a polite way of getting rid of us. Deep down inside we know what happens to the information. It goes in the ‘circular file’. Bottom line, it keeps both the Post Office and the office Janitor busy. One delivers these 'information requests' and the other one throws them out.
What’s yo
What’s yo
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ur current ‘Powerful Routine’ to effectively communicate to a third solution, because none of us want to be in the ‘Postal’ Business.
Key Learning Point:
There are only so many scenarios in any sales process. If you isolate them, train to each one of them with Powerful Routines and then measure the outcome, you are o
Key Learning Point:
There are only so many scenarios in any sales process. If you isolate them, train to each one of them with Powerful Routines and then measure the outcome, you are o
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
n your way to success.
Take for example setting ‘Top-down’ business appointments. We’ve already decided it would be a benefit to our sales success if we could reduce the time it took to achieve the necessary number of ‘Top-down’ appointments. In building an effective learning system to improve your Conversation-to-appoi
Take for example setting ‘Top-down’ business appointments. We’ve already decided it would be a benefit to our sales success if we could reduce the time it took to achieve the necessary number of ‘Top-down’ appointments. In building an effective learning system to improve your Conversation-to-appoi
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
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
tment ratio from the national average of 4-18%, you must first understand why that competency ratio is only 4-18%.
With that in mind, here’s what I know to be true:
1. We don’t seek to first (Before we pick up the telephone) understand the Prospect’s internal business objectives parallel to our solutions offering, then mod
With that in mind, here’s what I know to be true:
1. We don’t seek to first (Before we pick up the telephone) understand the Prospect’s internal business objectives parallel to our solutions offering, then mod
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
el our appointment approach around it
2. We settle for a business level of contact that has no direct fiscal authority
3. We sell our ‘product/service’ instead of selling the diagnostic steps in our ‘Evaluation’ Process
4. We fail to develop an effective Call to Action; strategic words and phrases that create
2. We settle for a business level of contact that has no direct fiscal authority
3. We sell our ‘product/service’ instead of selling the diagnostic steps in our ‘Evaluation’ Process
4. We fail to develop an effective Call to Action; strategic words and phrases that create
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
a positive 'visual' reference to the Prospect of what happens during the initial appointment and how long it takes
5. We don’t support our ‘Call to Action’ with 3rd party valuators parallel to the Prospects business objectives; valuators like business statistics, appointment performance ratios, ROI figures and relevant
5. We don’t support our ‘Call to Action’ with 3rd party valuators parallel to the Prospects business objectives; valuators like business statistics, appointment performance ratios, ROI figures and relevant
.
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
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
success stories
6. We fail to document all possible Objections and develop Powerful communication templates to negotiate 3rd Solutions
These (6) ‘Here’s What I Know to be True’ factors are where you should begin your sales prospecting and sales performance improvement journey, because the definition of insanity is doin
6. We fail to document all possible Objections and develop Powerful communication templates to negotiate 3rd Solutions
These (6) ‘Here’s What I Know to be True’ factors are where you should begin your sales prospecting and sales performance improvement journey, because the definition of insanity is doin
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
g the same old thing over and over again and expecting a different result.
In Part 3 of ‘How to Double Your Sales Appointments in Half the Time’, we will take an in depth look at these 6 failure factors and flip them 180% into individual powerful routines to effectively set more ‘Top-down’ business appointments in less time
In Part 3 of ‘How to Double Your Sales Appointments in Half the Time’, we will take an in depth look at these 6 failure factors and flip them 180% into individual powerful routines to effectively set more ‘Top-down’ business appointments in less time
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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