KEY TAKEAWAY: Harvard Business Review found that sales performance is highly correlated with promotion to management. For salespeople, each higher sales rank corresponds to about a 15% higher probability of being promoted to sales management. But, sales performance is actually negatively correlated with performance as a sales manager: when a salesperson is promoted, each higher sales rank is correlated with a 7.5% decline in the performance of each of the manager’s subordinates following the promotion. We found similar results regardless of whether salespeople were promoted to their own team or to new teams. In other words, firms tend to promote top sales workers into management, even though they become the worst managers. Continue reading
KEY TAKEAWAY: Pharma websites have high bounce rates and less time on the site because their target audience isn’t finding what they need and the homepage looks like a medical journal ad. Before pharma companies can even talk about exploring new digital channels they need to get their websites right. Continue reading
KEY TAKEAWAY: ROI driven strategies can be in direct competition with patient needs and wants and erode trust pharma companies even further. By executing a DTC strategy that is more focused on helping and listening pharma can slowly begin the journey to reestablish trust with its customers. Continue reading
KEY TAKEAWAY: Before any company can talk innovation it has to examine the barriers to its own culture. Nowhere is this more true than within pharma companies. Pharma company culture is like a sinking ship that won’t go down.
KEY TAKEAWAY: If you ever doubt that there is a leadership void within pharma just look at the current crop of CEO’s who will do and say anything to protect their jobs (and paychecks) and appease the people on Wall Street. Continue reading
KEY TAKEAWAY: People don’t trust pharma companies and pharma companies, it seems, could care less which is one of the reasons why DTC marketing is becoming less effective. Continue reading