As it’s estimated that the marketing of pharmaceutical products accounts for up to $25 billion of spending each year, there is a lot at stake for healthcare professionals everywhere. In recent times, there’s been much talk about the methodology used by pharmaceutical companies and the tactics they utilise as their sales force members contact and try and convince professionals. Indeed, some advocate that the industry should be more tightly regulated and the U.S. Congress has been strongly urged to take an in depth look at how business is conducted in this arena. This just goes to underline the professional and highly focused approach that the pharmaceutical company must take as it seeks to interact with the very people who are responsible for buying its products in sufficient numbers to ensure the long term success of its organisation.
There are a number of countries around the world that have actively regulated how pharmaceutical companies can interact with professionals and introduced legislation accordingly. For example in Australia, codes of conduct have been established, with ethical marketing standards implemented and all member organisations must comply with the clearly laid out requirements or face legal action.
Pharmaceuticals sales executives will spend a lot of time involved in what is known as “detailing,” by visiting front line professionals and explaining how the product might work, giving market suggestions, likely product availability, how it should be dosed, side effects that could be expected and other details. This will require highly polished communication skills and sales executives must be able to overcome barriers to growth over the years due to distrust or suspicion. Having said that, a sales executives is pivotal in bringing some vital information to the professional and supplementing the level of education. Much attention must be paid to these marketing methods by the pharmaceutical company.
If additional new regulations or restrictions develop in the near future, this would put even more emphasis on the need for effective marketing by the organisation. In these situations, pharmaceutical consulting firms should be employed by the company, as they have direct experience in the field and are ideally tuned to help educate the sales force to ensure that they do not meet any stumbling blocks, cross any lines or come away from any interaction with a professional without the most positive end result.
It may be necessary to disclose all types of interaction, any hospitality provided or suggested, any gifts or assistance given and the very nature of the education disseminated. Not only will it be necessary for the sales executive to be highly educated in the product itself, fully understanding of restrictions and implications, but the executive must also be fully able to market to their highest ability.
The majority of pharmaceutical consultants dedicate a lot of their time to providing the correct balance between product awareness and marketing and to training methods as well. Time management is an essential skill required and staff must be trained to make best use of it, just as traditional marketing skills must be a point of focus and any latest developments or new legal requirements included. Company chiefs should outsource these methods to pharma consulting, enabling them to focus on other areas. It’s important to understand how ineffective marketing may have a reputational consequence or even a punitive effect in this increasingly highly regulated arena and consultants can steer the organisation accordingly.
Alan Gillies is the CEO of L2L Consulting, a cutting-edge pharma consultancy firm which specialises in optimising productivity and performance within international companies by applying tailored organisational strategies.
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