Sales numbers are no longer the gold standard for measuring commercial success. What is?
The maturing key account management (KAM) model has transformed the way customer-facing teams operate: the challenge now is to use metrics that reflect the diversity of these sophisticated relationships and drive them forwards. But what works for one contact or KAM may not be appropriate for the next. How should pharma be formally assessing the performance of KAMs? And how are goals and measures affecting the evolving role of the successful KAM?
In February 2018 we talked to 10 KAM experts from industry front-runners including Takeda, Sanofi and GSK.
Find out how what they're doing about KAM metrics and how they're overcoming the issues.
- Do quantitative performance indicators skew KAM focus?
- Just how credible are qualitative metrics? Is relying on 'soft measures' too risky?
- Which comes first: key account selection or company objectives?
- Is account planning and implementation performance measured effectively?
- When and how often should metrics be adjusted for optimum effect?
- What is the right balance of short-term and long-term goals?
- KAMs versus other internal functions: collaboration or clash?
- Are KAM team metrics keeping pace with evolving customer needs?
What to expect from this report
Find out how to measure and monitor your most important business relationships more effectively.
We won't waste your time with old data and common knowledge. KAM Metrics: Driving efficiency and measuring success gives fresh new insight into what the market leaders are doing right now – and you definitely won't find this information anywhere else. This extensive report is jam-packed with valuable new qualitative research based on detailed interviews conducted last month (March 2018).
- The top 8 issues of most interest to pharma were uncovered
- We explored these via an average of 30 targeted questions to each expert
- Their responses provided 62 unique new insights
- Insights are supported by 129 directly quoted comments
Example insight included in KAM Metrics: Driving efficiency and measuring success
"Metrics can be used to facilitate cross-functioning as well as measure it. The selection of metrics can bring various priorities to the table. Specific metrics can provide information to the different functions and inform on what changes are needed with respect to each function's area of responsibility to ensure the continued delivery of value to the key account. Simply, metrics help to define the roles and responsibilities of KAMs and the various functions, creating a synergistic energy."
Example quote included in KAM Metrics: Driving efficiency and measuring success
"The metrics tend to be established in the pre-launch phase. Metrics should be flexible throughout the process, but in reality, are not. It is rare that KAMs get involved early in advising what the metrics should be – though they are likely to be able to present and promote the most realistic system to get the best results. Sadly, what happens often is a cascade policy based on unrealistic expectations that will not necessarily get the best results for the product. The important thing is dialogue both with HCPs – by asking them the best way to sell to them – and with salespeople who know what a realistic expectation looks like."
The expert panel for KAM Metrics: Driving efficiency and measuring success
- Mona Breivik, KAM Excellence Manager at Takeda AS, Norway
- Omar Ehsan, Managing Director at Pulse Consulting
- Theis Husfeldt, Associate Director of Commercial Operations at Astellas Pharma, Europe
- Thomas Kiely, Senior Account Manager at Qdem pharmaceuticals
- Ian Kirkpatrick, National Account Manager at Lionbridge for GSK, UK
- Kelly Sandahl, former Key Account Executive for Bayer Oncology, US, 2015 winner of the Pinnacle Award ranked #1 Key Account Executive in the US
- Scott Symes, NHS KAM Director at Sanofi, UK
- Anonymous Senior Key Account Manager in a Top 15 pharma company
- Anonymous Key Account Manager for a large pharmaceutical company, Spain
- Anonymous KAM for a major pharmaceutical company, US
Why buy now?
If you aren't measuring KAM performance effectively, how do you or your KAMs know where to focus their attention? Getting the metrics right is key to developing more fruitful relationships. Getting them wrong hits profits.
Why FirstWord reports are different
- 100% fresh: We never, ever regurgitate old research and present it as new
- Genuine experts: We only talk to the people with the most relevant experience
- Professional researchers: Our research team has the knowledge, experience and contacts to dig out the crucial insights