The answer is Sales Outreach to Multiple Target Segments be it Pharmaceuticals, Biotech, Medical Devices, Digital Therapeutics in Multiple Target Countries.

Today companies are fighting hard to increase its market share, to win more deals and thereby increasing customer base to survive, grow, becoming bigger and better. To enhance market share, the sales outreach must be touching all corners in the target market segments. It is also important that the marketing outreach must be aligned with the sales outreach activities to produce better outcomes. The marketing outreach will generate inbound leads and sales outreach will generate outbound leads. These two outreaches will have the direct impact on the market share, sales revenue and profits.

With this context, still large number of organizations are struggling for adequate sales outreach as a process. There are inherent challenges which include lack of availability of sales representative bandwidth (because is sales sta is busy with sales account management, up and cross sales, meetings, proposals, CRM, conferences, others), little access to changing customer data, lack of tracking of evolving customer dynamics, lack of identification of right sales signals, non-availability of customized customer database sources for customer profiling, and its frequent updates.

Though there are databases available but they come with issues like lack of adequate updates in contact database on regular frequency. Major data revisions are happing on yearly basis in these databases. These databases are unable to track changes in customer profiling and absence of right sales signals. All this leads to stagnancy in the sales outreach.

To conclude, in the modern world, right approach to sales outreach is absolute necessary. There are also bottlenecks in sales outreach process like bandwidth of the sales person and perception to prospecting data generation seems to be a clerical work for senior sales executives. They are happier with sales account management, meetings, travels, attending conferences & telecons, etc. The other major blockage is unavailability of consistent customer profiling services to produce a list of right companies in the target segments, right contacts in these companies, right sales signals, etc. The right company is defined as a potential customer which will have service needs matching to that of sellers services. The companies have to remove these two bottlenecks in order to make sales outreach as a process more successful. It requires consistency, follow-up and discipline as well as expand the data of the right companies to add more to prospecting list and update the prospecting data on a regular basis not just once a year.

If sales outreach is not expanding to add more right potential customers in the sales pipeline, providing list of decision makers, influencers, technical and procurement. The sales lead from new set of potential customers will not exist or will be limited. There will be less new conversations in the sales funnel and pipeline will also start getting to shrink, as major focus will be on managing exiting sales accounts. Majority of the service providers to pharma world have an average sales conversion rate of 25% to 35%. This means on an average only 30%. of the prospects being converted into clients

With right sales prospecting and outreach, the sales closure percentage could increase by 5% to 10%. This seems to be a small percentage but the value in terms of USD could be in a range of 30 to 200 million or more. Larger organizations with complex project may have bigger USD value. Effectively, the companies may be losing this additional revenue each year which they could otherwise earn. Management and stakeholder must focus on customer profiling, prospecting, adding more to sales funnel. This require a vendor support which can provide right customer & contact data.

The impact of not getting the right prospecting data and to increase the level of sales outreach programs may impact the business and revenue growth in both short and long run. The potential for further growth will be limited to existing sales account and lower number of new prospects.

This is a reason many businesses realize a flat or low growth in their financial statements. The organizations must focus on gaining right prospecting data for better sales outreach.

The answer is Sales Outreach to Multiple Target Segments be it Pharmaceuticals, Biotech, Medical Devices, Digital Therapeutics in Multiple Target Countries.

Today companies are fighting hard to increase its market share, to win more deals and thereby increasing customer base to survive, grow, becoming bigger and better. To enhance market share, the sales outreach must be touching all corners in the target market segments. It is also important that the marketing outreach must be aligned with the sales outreach activities to produce better outcomes. The marketing outreach will generate inbound leads and sales outreach will generate outbound leads. These two outreaches will have the direct impact on the market share, sales revenue and profits.

With this context, still large number of organizations are struggling for adequate sales outreach as a process. There are inherent challenges which include lack of availability of sales representative bandwidth (because is sales staffs is busy with sales account management, up and cross sales, meetings, proposals, CRM, conferences, others), little access to changing customer data, lack of tracking of evolving customer dynamics, lack of identification of right sales signals, non-availability of customized customer database sources for customer profiling, and its frequent updates.

Though there are databases available but they come with issues like lack of adequate updates in contact database on regular frequency. Major data revisions are happing on yearly basis in these databases. These databases are unable to track changes in customer profiling and absence of right sales signals. All this leads to stagnancy in the sales outreach.