Posted by
Varun Chodha on October 28, 2019
Life sciences companies have come a long way since the days when they relied on sales reps building relationships with healthcare providers. As the industry moves from an individual, relationship-heavy selling model to a value-based model, today’s sales reps must engage non-clinical stakeholders within hospitals and IDNs in addition to doctors and medical staff. It’s no longer just about discussing the latest features and charging a premium. Now, companies are being challenged to provide better outcomes at lower costs. On top of all this, achieving growth is harder than ever in an increasingly saturated market.
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Posted by
Chad Albrecht on August 25, 2017
ZS conducts an annual survey of medtech companies to understand how their sales incentive plans are changing. This year’s version, which we conducted in the summer of 2017 and will be released in late August, begins to show how upstream changes to the go-to-market models—such as the impact of integrated delivery networks—are beginning to affect sales compensation plans downstream.
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Posted by
Andy Kach on February 14, 2017
For as long as there have been sales reps, sales leaders have questioned how much they can trust information coming from those reps. It’s a sad state of affairs that many companies don’t trust their sales reps to provide data that’s accurate enough for the organization to act on. The truth is that some reps will provide false information to help themselves, particularly when it can be linked back to incentive compensation. While a few bad apples give the industry a bad reputation, it’s much more important to remember that most reps are trustworthy and have information that can be extremely valuable to the organization.
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Posted by
Tobi Laczkowski on August 27, 2015
Historically, the medtech world has been dominated by those who advance the science and technology embedded in the therapies. But there is another important differentiator: the strength of the sales force. Successful companies have discovered that the sales force can be as much or more of a factor in the success of a product than the product itself. Furthermore, the structure of the incentives provided to the sales force can be an important component of attracting, motivating and retaining the right talent.
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