The pace of consolidation in the life sciences industry impacts the effectiveness of a sales rep. Yet the abundance of new products, advancements and innovations means more opportunities for reps to help customers navigate choice.
Performance markers include revenue (product sales, sales to collaborators, contract revenue), R&D spend, product development pipeline (by phase) – which is a leading indicator of revenue, market share and regulatory compliance.
Life Sciences performance management initiatives extend into sales force resource allocation (by territories, clinical area, products and DTP/DTC), corresponding revenue forecasting (also by channel), and resulting variance and profitability analysis.
However regulatory and reimbursement changes can have an adverse impact on particular product sales (for example, Amgen’s 3rd quarter earnings slump). So it is important to connect operational and financial models (“what if there’s a regulatory change for a specific product”) with upside and downside revenue forecasts.
BROADSHEET SNEAK-PEEK: LIFE SCIENCES
POTENTIAL INITIATIVES THAT CAN BE STARTED FROM THE DISCOVERY ANALYSIS
PEER BENCHMARKS: LIFE SCIENCES PERFORMANCE MARKERS