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The Active Ingredient features expert insights and commentary from leaders of ZS Associates' global pharmaceuticals practice.

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Three Tips on How to Align Your Sales Comp With Evolving Customer-Facing Roles

Posted by Mike Martin on Fri, Jun 02, 2017

Changes within the healthcare ecosystem—continued M&A activity, the emergence of value-based care, influences within local healthcare markets—are affecting many ways in which biopharmaceutical manufacturers are going to market. Companies are adapting by adding new sales roles, differentiating the types of roles across the nation, co-developing solutions with large providers, and rethinking their sales compensation strategies

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Topics: sales compensation, sales, commercial operations, Mike Martin, Pharma, sales comp, healthcare ecosystem, biopharmaceuticals, sales comp plan, sales roles

How Oncology Sales Leaders Can Get a Clearer Picture of Rep Performance

Posted by Jeff Traenkner on Mon, Dec 12, 2016

Constructing effective incentive compensation plans can be difficult in any therapeutic area, but oncology presents even more of a challenge given its extremely complicated market, frequent changes, small patient populations, low sales volume and products that are used across multiple indications. These complications make it a struggle to generate a complete picture of sales team performance. As a result, companies must assess the performance of their teams—and incentivize them accordingly—based on partial information. It’s akin to looking through a clouded window.

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Topics: oncology, sales comp, IPR, Jeff Traenkner, sales rep performance

Three Common Mistakes When Setting Sales Goals

Posted by Tanya Chaturvedi on Thu, Oct 20, 2016

David Keim co-wrote this post with Tanya Chaturvedi.

For many sales reps, goals and quotas are a key component in their compensation plans. According to ZS’s Incentive Practices Research (IPR) study, more than 70% of the survey participants (sales plan administrators at pharmaceutical and biotechnology companies) use goals or quotas as a component in their compensation plans.

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Topics: goal setting, sales comp, Tanya Chaturvedi, 2016 Pharma Sales Comp Conference, goal-based plans, David Keim

How to Motivate a Multigenerational Sales Force

Posted by ZS on Wed, Oct 05, 2016

What motivates a 52-year-old sales rep might not necessarily be what elicits the best performance from the 29-year-olds in the field, so how can sales compensation plans best incentivize a multigenerational sales force? At ZS’s 2016 Pharma Sales Comp Conference, held in Boston July 20-22, keynote speaker —a researcher and self-proclaimed (and self-aware) millennial at Wayzata, Minn.-based generational consultancy BridgeWorks—discussed the key characteristics of each generation and what sales leaders need to know in order to get the most out of sales reps of all stripes. “When we talk about motivation, it plays so well into the concept of ‘one size does not fit all’ when it comes to incentives and compensation,” Ubl says. “What works for one group is not necessarily going to work for another.”

ZS spoke with Ubl about the intricacies of motivating and managing a multigenerational team.

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Topics: sales comp, millennials, 2016 Pharma Sales Comp Conference, hannah ubl, generations, generation X, baby boomers, multigenerational sales force

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