Direct Sales – Pharma
Key business takeaways for participants
Your B2B sales managers handle deals of high value. They tend to think of a deal only from a deal size perspective, but not from how the client is going to benefit out of the deal Help them understand client’s businesses, their economic environment, pressure points, etc.. to help them make more relevant proposals to the client. Also, help them understand how to maximize deal values by providing intangible benefits to customers.
Your key account managers handle deals across multiple customers at any given point of time. Some deals may be of smaller value, some may bring in higher revenue, some deals may require more effort but yields higher margins, some deals have high potential for future. Help them prioritize deals to ensure steady income for current year, plan for high growth in coming years and split effort between deals to ensure they move towards closure and profits.
Stakeholder management and relationship building
Your B2B sales managers handle different sorts of customers in terms of organizational complexity and hierarchy. Help them identify key stakeholders, influencers and decision makers in different organizations to ensure their deals have visibility and priority in the customer’s organization.
Cross functional collaboration
Your key account managers participate in many RFP/RFQ processes. The key objective for most key account managers would be to win deals, preferably large ones, but one key aspect tends to be missed out in this process – how much effort needs to be put once the deal is won to ensure the customer expectations are met. Help your key account managers look at a deal from an effort point of view from all other involved functions such as production, logistics, procurement, planning, HR, finance, etc.. to get the buy-in and involvement of all concerned parties and ensure smooth delivery.