Application Case Study
New Product Introductions
Client’s Challenge
- Post merger opportunity to sell new drug in the United States to treat a specific disease state
- Presented numerous Market Access challenges
- Customer Prospects: Sold to new markets; Hospital Blood Banks, and OB/GYN Practices and Clinics
- Sales Resourcing Constraints: had a current sales force of 35 people selling products to Hospital Pharmacies
- Messaging: New product had advantages but competing against an entrenched product with strong brand recognition and over 80% market share that had been in use for over 30 years
- Channel Access: Key competitor had strong relationships with channels of distribution accessing the OB/GYN practices
iac’s Solution
- Deploy TeleSales resources to supplement Field Sales resources to drive new drug sales
- Stratify prospects and assign accountability for Hospitals and OB/GYN Practices and Clinics
- Shared accountability for ‘Top 200’ Accounts
- TeleSales accountability for ‘Small’ Hospitals and OB/GYN Practices attached to ‘Top 200’ Hospitals
- Delineate Sales Cycle and assign accountability for specific stages of the Sales Cycle with ‘shared’ accounts to field Sales and TeleSales
- Have TeleSales lead the process and involve Field Sales as needed
- Recently deployed Reorder Specialists to ‘maintain’ existing relationships
Results
- Achieved 12% market share in less than 2 years
- Continue to grow at 20+ % annual rate
- Lower ‘market access’ costs than other client products
