Need for Actionable Sales Data
Pharmaceutical and medical device companies market and sell in highly complex environments, while helping doctors treat more patients.
To stay competitive, these companies must have actionable data in their CRM systems to unlock strategic decisions, manage focused marketing campaigns, and run efficient sales activities.
The ultimate goal for Life Sciences is to better serve doctors and care providers, so they in turn can help more patients with better treatment methods.
Disconnected CRM data
Unfortunately, we are learning that most Life Science companies still have disconnected data repositories across:
- Demographics and patient data
- Medical market studies
- Potential customers: doctors, offices and hospitals
- Existing customers and their interactions
- Sales data; both their own and their competitors’
- Medical procedures databases
All doctors in the United States have a federal NPI number (National Provider Identifier or NPI is a unique 10-digit identification number issued to health care providers in the United States by the Centers for Medicare and Medicaid Services (CMS). The first step to better CRM data is to integrate NPI numbers.
“Disconnected data limits a company’s ability to understand their market opportunity and slows down marketing and sales efforts, which allows the competition to jump in.”
For example, we have all seen companies spend millions in marketing and sales efforts in geographical areas that have limited growth opportunities. Meanwhile, they are leaving other areas of the country wide open to their competition’s hyper-growth.
Five steps to revenue growth for Life Sciences
More and more Life Science companies are taking full advantage of our RealZips GeoData Platform for Salesforce. They are implementing these five simple steps to protect and grow market share:
1. Connect all data
By using the RealZips in Salesforce, these companies are now connecting endless amounts data geographically, starting on the Zip code level.
As different data streams are automatically connected within the RealZips geographic structure, the combined real-time data becomes highly actionable GeoData.
GeoData can range from demographics, leads and existing customers divided by hospitals, to care provider specialties, medical procedures, the company’s own sales data and competitive sales volume analytics:
2. Structure GeoData for instant decisions
When all GeoData becomes available in real-time, analyzing the data and create automated indexes that will guide all marketing and sales initiatives.
For example, it’s very easy to index GeoData based on market potential and your company’s performance. Every geographic area will automatically be indexed, so everyone in your company can act within the GeoData matrix (shown below).
- If an area of a city has high potential and no performance, the growth opportunity is substantial
(Represented by the tile “1. GO!” below)
- Reversibly, if an area has low potential but relatively high revenue performance, it’s mostly tapped out
(Shown in the tile “4. MAINTAIN” below)
3. Transform GeoData into action
All this powerful GeoData is 100% available in Salesforce.com and integrated with all existing customer data. It now becomes possible for your whole company to immediately act on this continuously updated GeoData!
Your team will be able to:
- Focus sales in areas in sales territories with the highest potential
- Run marketing campaigns in the top 100 markets across the country
- Pick the best locations to host customer events
- Spend the right amount of effort in each zip code, based on opportunity
- Point out demographic markets for doctors, to help them succeed in their patient onboarding and treatment
Continuously updated RealZips Dashboard, combining demographics, count of Doctors, sales activities and sales progress:
4. Turn action into Doctor’s interest
When your team is empowered with actionable data, every discussion with care providers (such as doctors and nurses) take on a whole new meaning. Your team will have data about the care providers’ local market, including deep demographic insights such as age, income, lifestyle preferences, insurance data and much more.
Your team will be able to help position your product and services in the context of each local patient market; helping Doctors pinpoint their own market opportunity.
With GeoData at their fingertips, your marketing and sales teams can select which local markets to engage in. They can focus on enabling care providers in markets with the highest patient reach, while providing a best-fit for your offering:
5. Convert Doctor’s interest into revenue
As our customers embrace the RealZips GeoData and these workflows, they often experience revenue growth within five weeks. The relationship between the sales team and care providers turn into a partnership, enabling the care providers to even better treat patients.
Typical feedback from Life Science users of RealZips:
- “Our marketing and sales teams can focus on the top 15% zip codes with the highest growth potential in each sales territory.”
- “As we meet more doctors in the field, we engage with at least 15 % more care givers.”
- “Discussions with doctors are no longer focused on products. Instead we share local demographics and how our product and service will help the doctors serve more patients.”
Help care providers serve patients
We are amazed to see the success our Life Sciences customers create for their companies, care providers and patients.