So Your Sales Team Isn’t Selling?
Developing biotechnology requires scientific expertise but once the product is developed and ready for the market, the next step is to hire an expert sales team, right?
Then why isn’t your product selling as well as you expected?
Hiring an experienced sales team doesn’t guarantee market traction, but conducting an unbiased internal assessment will optimize your commercial strategy and catalyze your efforts to increase their effectiveness.
Conducting an internal assessment is the first step in transforming an expert sales team into an effective sales team. These assessments are thoughtfully designed to lead biotechnology teams through the common challenges of early stage biotechnology companies that impede commercial efforts.
Successful Commercial Leadership Provides
- Thoughtful commercial strategies and direction to their team
- Aligned management teams and mission
- Materials that communicate standardized value proposition
Common Commercial Challenges
You Can’t Fix What You Don’t Know:
Early stage commercial teams may be operating under false assumptions regarding the market, customers, and their pain points. It can be difficult to determine customer experience, customer perceptions, and solicit honest feedback without biasing results. These inaccuracies mislead leadership teams and lead to wasted sales team resources. The internal assessment conducted by third-party research and validation provides an unbiased view to ensure that resources are aligned and allocated for maximum ROI.
“Can visitors to your website tell immediately who you are and what are the right customers for your products?”
“What story do your materials about your products tell? How do your customers view the product based on product proof statements?“
“Who are your customers and why are they buying?“
Building Successful Sales Strategies:
Splitting resources among many potential customer groups dilutes commercial efforts. However, it can be challenging to align stakeholders around one sales strategy and subsequently forfeit the potential to reprioritize applications that are more complex and lead to longer sales cycles. In the absence of an aligned commercial team, sales teams often create their own strategies, customer segments, and materials which decreases their efficacy.
“What story do you want to tell customers?”
“Where does your fundamental value proposition result in 10X value?”
“What application areas can prove your technology without engaging in a research dissertation?“
Pivoting to Revenue Generating Models:
In the early commercial stages, sample products are often distributed in exchange for product feedback and data. This feedback is then used to validate product positioning and to build marketing strategy. However, companies often struggle to subsequently transform those strategies into revenue generating models.
“Are your early stage customer relationships representative of the true market?“
“Will the product proof statements drive customers to purchase?“
Internal Assessment & Commercial Effectiveness
The internal assessment is a careful analysis by biotechnology experts to align the product, market and the company’s commercial goals. It is a crucial step in both the design of and troubleshooting of sales strategies within your organization. The UBC team begins by reviewing the product materials, customer experience, commercial goals, and the sales pipeline to provide a deep analysis of the product, customer, market, and current sales strategy. The internal assessment provides the research and expertise required to align commercial management around the most successful commercial strategy: the key to a successful sales team.
Additional United BioChannels Resources