Reaching Peak Sales Velocity Through Insight Case Study
Boosting Sales Rep Productivity and Success with Rich Customer Analytics and Effective Targeting: Multinational pharmaceutical company uses SHYFT solutions to drive better sales team performance through unified sales data pipeline and analytics
About the Customer
Leading multinational pharmaceutical company with products in fields including dermatology, ophthalmology, cardiovascular, and gastroenterology care.
Sales representatives at a global pharmaceutical company faced several recent growth challenges. The company maintains a team of 1,000 United States-based representatives and managers who promote a catalog of 17 leading brands across multiple mass-market and specialty therapeutic categories.
However, data available to sales representatives was frequently siloed between multiple systems or kept on spreadsheets on local devices. The fragmented data pipeline hampered the sales team’s ability to execute coordinated strategies based on current information about patient use, prescribing physicians, marketing campaigns, and other key activities.
“When our sales team goes into the field and meets with healthcare providers, we need to ensure they’re set up for success,” says the director of sales planning and analytics at the global pharmaceutical company. “With that in mind, we wanted a way to visualize all the valuable data captured across our organization, so that sales managers can provide the right groups with the information they need to prescribe our therapies.”
With STRATA and LUMEN from SHYFT, a Medidata company, the pharmaceutical organization can provide its dispersed sales teams with deeper insights that boost productivity on tasks such as developing strategies and call plans, which translates directly into more coordinated interactions with healthcare providers and expanded access to product information.
Previously, sales staff generated manual reports and managed spreadsheets as part of a disjointed process that made it virtually impossible for managers to share and review information to increase product use. Additionally, data siloed in spreadsheets threatened data accuracy while decreasing collaboration and productivity. By centralizing product and customer data and driving analytics with SHYFT solutions, the company can now provide its sales team with rich data about product use to inform their outreach to physicians and other care providers.
STRATA brings together more than 125 data sources for the company, integrating data from disparate sources including specialty pharmacies, distributors, CRM, and third-parties to provide meaningful insights to field sales, market access, and commercial leadership. When deploying STRATA, the company harnessed the solution’s configuration to fit their exact needs, tailoring its data ingestion automation and quality assurance assets to improve data management and access company-wide. As a result of automating the receipt, cleansing, and processing of data, productivity and data quality were improved across the organization.
After compiling and analyzing data in STRATA and LUMEN, including sales data, call and activity data, and past sample activity by doctors, sales teams can quickly identify and target healthcare providers most likely to prescribe their therapies. For already busy sales reps, this eliminates time previously spent calling and arranging meetings with providers unlikely to use the products.
“LUMEN and STRATA allow us to pair our sales team’s expertise with analytics to maximize the impact of their efforts,” says the director of sales planning and analytics. “With SHYFT, we have a powerful platform that leverages data for better decision making and more effective marketing strategies across 17 major brands.”
Using SHYFT’s proven products implemented by proven industry experts with a proven process for capturing siloed data and powerful analytics, the company’s sales representatives have saved time on daily tasks such as call planning and lead identification, resulting in productivity gains that increase product adoption and revenues. Prior to using SHYFT solutions, sales representatives typically spent about 90 minutes on daily call planning to organize and prioritize leads to pursue. Today, the company has cut the average call planning time to only 45 minutes through analytics-powered targeting, giving representatives more time to meet directly with healthcare providers. “My entire team is outpacing and outperforming its growth trajectory, and about half of that achievement can be attributed to a combination of implementing a CRM and getting SHYFT in our reps’ hands,” says the director of sales planning and analytics.
Representatives also saw a 47 percent increase in sales and a 50 percent gain in revenue across its product portfolio thanks to LUMEN and STRATA insights, which directly identified healthcare professionals most likely to become customers. In addition, the company also realized a 15 percent increase in overall sales team productivity.
“For our sales team, SHYFT has become an important driver of revenue and productivity growth,” says the director of sales planning and analytics. “Our sales reps harness reports and insights from LUMEN and STRATA to build stronger relationships with providers across their territories .”