Focus Business Development Effort: Sales Territory Analysis and Lead ID
It takes a step back and a fresh look at your customer-base to understand where the low-hanging fruit may lie. This company had recently won contracts by applying its clinical services in the top 3 major therapeutic areas, helping its biotech and pharma clients to overcome regulatory hurdles and address development issues that had proven to be expensive, time-consuming or impossible using standard methods. It had a story to tell in each of these therapeutic areas with new case study materials and publications that would be of great interest to potential customers with similar issues.
The company wanted to focus its business development efforts on companies working in these therapeutic areas and to structure marketing campaigns that would help them to open discussions. At the same time it needed to manage its lead pipeline and monitor the source, number and value of leads and opportunities so that it could see where to focus marketing effort in order to grow its business.
Starting With Market Intelligence
Using Datamonitor’s Medtrack database, we identified the companies along with the details of their drug pipelines in each of the chosen therapeutic areas for each of the sales territories. This formed the basis of intelligence-led lead identification.
Creating a Straightforward Lead/Opportunity Management System
We used the Salesforce.com cloud computing resource to set out a business development pipeline structure that the entire sales and senior management team could use wherever they were in the world. They were able to quickly assign their leads and opportunities to different categories, depending on how far they had progressed through the business development process. We set up dashboards and customized reports which would, at a glance, show whether and how leads and opportunities were progressing, where they came from, when they would close and other critical data. As a result, the entire sales team and senior managers had total transparency over how they and the various marketing campaigns were performing.
Targeted Email Campaigns to Help Open up New Business Opportunities
Using the company’s impressive collection of case studies and publications, we created a suite of smart, concise and well-referenced information sheets for each therapeutic area, providing credible detail about how the company had helped development teams to advance their programs. With links to publications, presentations and editorials, they are being used to open discussions and as “leave pieces” following introductory meetings.
We also used these information sheets, links and case studies in highly targeted email campaigns to selected members of the company’s sales database in order to attract further leads and early opportunities, helping the sales team to open new doors.
The Outcome?
A highly ordered business development pipeline with a constant flow of relevant leads matched to the company’s core services.
