In a world of 24/7/365 ‘always-on’ internet, guidelines, protocols, white-lists, black-lists, generic substitution… and so on, it is getting harder than ever before for companies to stand out from the crowd.
Today, drug pipeline challenges and healthcare industry structural changes (as well as the rise of digital channels) require pharma and medical organisations to rethink how they approach client relationships.
Pharma & Medical vendor companies have an unprecedented opportunity to redefine and reinvent the concept of Key Account Management. They need to replace traditional models with sales and service models that help stakeholders achieve their objectives. To navigate this transition, sales organizations need to change the traditional sales culture by addressing the needs of a broader network of buyers and influencers – and how they can add value – and also, up-skill the existing sales force by elevating and extending the conversations they have with doctors and other stakeholders.
It is also vital to understand that the Key Account Management function is not merely a function in sales, rather an agile approach to developing profitable customer relationships with institutional purchasing organisations and to connect conversations across a non-linear, networked sales environment.
To paraphrase George Orwell in Animal Farm – customers are important, but they are not equally important. We liken the whole process of Key Account Management to the game of roulette. The accounts are many, these are like the numbers on the roulette table. We only have a finite amount of resources (our ‘chips’), our job as Marketers and as Key Account Strategists, is to determine which ‘chips’ to place on which ‘numbers’. This is the focus of the first part of this course. This course will help you work your way through a proven and methodical process to determine which of your customers should get which tactical approach.
Once this is done, the question becomes; what propositions do we make, and how can we present solutions which are unique, compelling, and attractive to each of our chosen accounts? This is where modules 3 and 4 come in.
Finally, module 5 presents a proven outline for pulling everything together into a cogent, actionable strategy which can be implemented immediately.
This is an action-centred course, delegates will hear live lectures, be able to participate in a live Q&A, and will have online coursework to complete satisfactorily, in order to progress. At the end of the course, delegates will have a working plan they can get management approval for, prior to execution.
This course will highlight:
- Which accounts are Key, which are ‘for the future”, and which should be de-prioritised? This is a proven, objective process to classify all accounts and develop strategies accordingly.
- What is the decision-making ‘anatomy’ of the accounts? What are the politics involved, what are the human relationships, and how do they come into play? What is the ‘cascade of influence’ within each account?
- Who are the customers? Segmenting the market, as accounts and then as people. Creating customer personas and then forming value propositions for each persona.
- Understanding the customer’s decision-making process, the psychology of purchasing, how our brains work when we are making decisions, and the science of persuasion.
- Creating an actionable account plan at both the organisational and the personal level, and creating bespoke value propositions to match each type.
This course will give delegates the knowledge, tools, and skills they need to determine a robust sales approach for each account based on objective criteria – and then give them sales approaches and propositions to use which are specific to each person/account that resonate and get results.
At the end of this course, you will learn to:
- Classify all your accounts objectively
- Develop a broad ‘per-account’ strategy
- Understand the purchasing mechanisms and processes in each account
- Understand the human elements of decision-making and how to have an influence on them
- Understand the mind of the customer, their ‘pain-points’, the ‘Moments of Truth’ and how to address them
- Know how to take yourself from the role of ‘Vendor’ to ‘Trusted Advisor’
Participants in this course will receive a thorough training on the subjects covered by the course outline. The instructor will utilize a variety of proven learning teaching and facilitation techniques. The course methodology includes;
- Live instructor-led lecture with live Q&A
- Modules and assignments to complete online between lectures
- Videos & case studies
- Downloadable tools and templates for completion
The organisation will be able to position itself compellingly in the marketplace. It will become seen as a trusted partner that truly understands the needs of each client account. It will be highly differentiated as an understanding provider of solutions to the account’s problems. And will reap the rewards accordingly.
This course will give you a structure for your thinking and analysis that will make you much more effective in your role. It will have profound effects on your management of time, your levels of job satisfaction and the results you get. You will develop an analytical skill-set to understand accounts and a profound understanding of buyer psychology. You will also learn how to become seen as a trusted advisor, rather than just a vendor.
Who Should Attend?
This course is suitable to a range of professionals but will greatly benefit those key account managers for vendors in the medical and pharma industries, including:
- Key Account Managers
- Global Account Managers
- Sales Directors
- Marketing Executives
- Business Development Executives
This is a five week course with live instructor-led content and online assignments.
Week 1 3
They are all equal, but some are more equal than others
Week 2 5
The Anatomy of an account
Week 3 3
Knowing the Mind of the Customer 1.
Week 4 3
Knowing the Mind of the Customer 2..
Week 5 5
Creating a Key Account Plan for Approval