Times are changing for the U.S. pharmaceutical sales market. Companies and sales teams are challenged with the controversy of the opioid epidemic and the advancement of marijuana legalization. And while a big chunk (42 percent) of sales continue to go through doctors’ offices, the on-the-rise areas of focus are government agencies, managed-care organizations and the patients themselves.
This change in prospect focus is top of mind for executives, with one survey even rating their concern with the shift ahead of new product development.
Branching out into new sales areas means seeking out and building new connections with an entirely new roster of decision makers, an endeavor that consumes a lot of time and energy—time and energy not spent on closing a sale.
To more quickly and effectively navigate this changing landscape, pharmaceutical sales professionals should consider relationship mapping technology.
AI-powered relationship intelligence automation software, like Introhive, automatically collects, analyzes, scores and map all of your organization’s relationships to present you with a real-time, complete picture of who your customers and prospects are. (Request a demo from Introhive to find out more and see the platform in action).
Read on to learn about four ways relationship mapping tech can help you not only win over new clients faster, but also make it easier to protect existing ones.
1. Automatically sync, update CRM contact information
Siloed prospect and customer contact information is a challenge shared across industries, including pharmaceutical sales. Many times, there’s no easy way to discover who knows who—or how well.
But when armed with a good relationship intelligence platform, sales teams and professionals can skip these obstacles. Because CRM data automation instantly syncs and fills out contact records—no manual data entry required. Find all the missing contact information that lives within the organization’s email exchange and simply map missing contacts, activities or related tasks into CRM with the click of a button
2. Monitor the strength of all your business relationships
As the pharmaceutical industry moves toward building more direct and better-serviced relationships with people, a detailed, up-to-date relationship map based on the collective knowledge of the entire organization not only helps you spot new leads, it can also help you more easily keep tabs on your current roster of customers.
Connection strength measurements and instant visualizations make it easy to spot at-risk relationships—with some (like Introhive) even delivering proactive email alerts highlighting concerning relationship trends.
3. Streamline meeting prep for “wow” pitches
More than half the time physicians meet with pharmaceutical sales reps, they’re presented with information they’ve already seen. That’s no way to close a deal.
When you walk in the door for a meeting (or pick up the phone), you should ideally be armed with research about who you’re dealing with, including their role, and their area specialty if they’re a physician.
If you’ve met with them before, you might want to revisit your last topic of discussion. It’s all about building a better relationship, which is proven to increase your sales.
But between travel, multiple other customer meetings, and a host of other responsibilities, it’s hard to find time to do that oh-so-key planning and research.
Fortunately, advanced relationship intelligence automation tools, like Introhive, go well beyond mapping to pull all this information together for you. And not only do you not need to Google or search through your CRM line by line, the platform will also automatically deliver all this information right to your email as a “pre-meeting digest” the day before your event.
4. Effortlessly document post-meeting follow-up
It stands to reason that a sales rep who feels too busy for pre-meeting prep is probably also feeling the time crunch when it comes to taking stock after a customer of prospect encounter.
But well-thought-out meeting follow-up is vital. These touchpoints are not just another chance to talk about product, but also an opportunity to nurture the customer relationship and, as such, should not be skipped. And don’t forget the vast majority of sales (80 percent) require at least five follow-up calls before the deal is done.
Advanced relationship intelligence automation tools, like Introhive, can help you out here as well, sending automatic post-meeting wrap-up emails sent right to your inbox.
And with one-click CRM sync suggestions for new contacts, meeting notes, activities, task assignments and more, you instantly add all this valuable information to your ever-growing relationship map and account intelligence.
Get technology on your side to build better relationships faster
Times are changing for the pharmaceutical industry, and it’s important to keep up. Relationship mapping can help you move beyond the traditional, physician-focused sales strategy by identifying and building new connections with new decision makers.
And you don’t have to do it alone. Reach out to Introhive to find out how we can help. And to see how we use automation and artificial intelligence, request a demo today.