Client Success: Life Sciences Commercial Services Company
Overview
One of our clients is a leading provider of integrated global commercial services for the life sciences industry, serving hundreds of organizations to advance life science solutions.
This life sciences company approached us with a business need for a comprehensive analysis to best identify the most customer-valuable targets in their market as the foundation for its promotion activities.
Challenges
Our challenge was to provide analysis, trending, and modeling to identify the critical insight needed to create the optimal sales force size and structure while maximizing the return on investment over a multi-year period.
Solution
Using our team’s combined years of advanced analytics and research experience, we:
- Created a proprietary evaluation approach by restating the market dynamics using the anticipated future market state. This detailed analysis generated a customer-level expected value and promotion-level requirement, providing sensitivity parameters as well.
- Our analysis process used higher-order segmentation techniques to identify previously untapped response opportunities.
- Our analytics team created a data model using the trends to determine what the impact of the promotion would need to be for various break-even time frames.
- The analysis stream also provided tactical support parameters to be used for implementation in the operations of the sales force – specifically territory level quota setting, incentive planning and remuneration options.
Results
The results of the data analysis stream pinpointed the life science company’s precise targets with the most significant return opportunity and subsequently provided a custom geo-alignment and targeting schema. Along with a rigorous data analysis that included segmentation and forecast trending, our sales force sizing recommendations provided territory-level profitability estimates for the highest return on investment.
Conclusion
Generating the highest return on product launch promotion activities hinges on the accessibility and reliability of high-quality analytics, including segmentation and forecast trends, to optimize an organization’s sales force size and structure. Without these valuable insights, companies may overlook previously untapped opportunities and design promotion strategies without fully understanding the return opportunities.