Status of Pharma Reps’ In-person Sales Model During COVID-19
With the world facing an unprecedented medical crisis for the past several months, one specific group of professionals have been bearing the impact of this challenge – our healthcare workers. Battling with the life-threatening Covid-19 virus from the front lines, these workers have had no choice but to adapt to the situation. Unfortunately, these circumstances have reduced the percentage of interactions between pharma reps and medical personnel. Many companies had to close their doors while several others moved from physical interactions to virtual.
Current situation of Pharma Industry
According to a survey in 2019, 47.3% of physicians were comfortable engaging in in-person pharma rep meetings, while only 9.6% of them preferred digital platforms. However, the new environment and the current situation have given pharmaceutical companies a chance to level the playing field.
With measures like social distancing and regulated lockdowns across the globe, pharma reps are re-evaluating their in-person sales model and moving swiftly towards automation.
Today, given the pandemic catastrophe all over the world, healthcare professionals, including clinics and hospitals, are increasingly refusing in-person interaction with pharma sales reps. And some pharma companies have voluntarily suspended personal interactions and face-to-face meetings. Instead, virtual communication between the reps and the medical staff have elevated. And, word is that this progress will most likely continue even after the COVID-19 threat has been eliminated.
It is believed that going forward, virtual sales and the ability to conduct it right will play a significant role in deciding the future of pharma firms.
Changes in the Pharma Sales Model
Considering that the status of pharma reps’ in-person sales model amidst the COVID-19 pandemic is extremely critical, here are a few ways that the sales reps can continue to carry on their work effectively:
Be more active in leading online promotions – While technologies such as artificial intelligence have made regulating digital promotions extremely easy, it is noted that physicians and doctors are more likely to respond or consider personalized promotional emails and messages.
Support existing patients – Covid-19 has made it relatively difficult for non-COVID patients to reach their doctors. This is even more critical for patients with chronic diseases. Brainstorm with your team and try to find alternative ways to extend therapy and support to such patients.
Be more personalized than ever – The ongoing situation has proven to be an excellent opportunity for pharma companies to build a rapport with their customers and offer tailor-made solutions according to individual preferences. This is also a great time for pharma sales reps to figure out how to enhance digital channels, to offer direct support to patients on special prescriptions, and ensuring that they are adequately stocked.
Control client communications – One thing that nobody likes is to be bombarded with promotional messages and emails multiple times a day. It is not only overwhelming but can also lead to client dissatisfaction. Keep a controlled check on the kind of promotions you send as well as its frequency.
Keep yourself up-to-date – The past few months have presented a brilliant opportunity for reps to log some extra training hours. Conduct meetings with your team and ensure that everybody is on the same page about what is happening within your company as well as outside.
A virtual meeting app such as Preferred Time connects pharma sales reps with healthcare workers and pharmaceutical manufacturers, making sales meetups extremely convenient and hassle-free. It not only helps them schedule online meetings depending upon the availability of the sales reps and medical professionals but also enables them to browse through the manufacturer website for the latest products and innovations. Lastly, it also helps keep up with the current norms of social distancing and staying safe by restricting physical interactions.
Face-to-Face Meetings Between Pharma and Doctors Increases amid COVID-19
The start of 2020 brought a massive change to how the world functions. From individuals to companies, the perspective towards life and work changed drastically. While digital workers and professionals working on the internet had to make slight adjustments to their work norms, field personnel such as pharma representatives had to alter their total operations. Following the protocols of social distancing and limited human interactions, almost all businesses had to take their work online.
Face-to-Face Pharma Meetings increase
As per the reports of IQVIA Korea, there was a 17% decrease in the offline marketing of pharma post the first wave of COVID 19 in February 2020. Additionally, the medical conference industry sunk by 68% globally.
As per the reports of IQVIA Korea, there was a 17% decrease in the offline marketing of pharma post the first wave of COVID 19 in February 2020. Additionally, the medical conference industry sunk by 68% globally.
As the Covid-19 pandemic continues to spread across the globe, most pharmaceutical companies have witnessed a sudden shift from the clinic and hospital visits to an increasing number of virtual meetings and use of various digital sales tools. This shift from personal to virtual is seen in medical conferences, pharma sales rep meetings, advertising, and promotions, as well as final sale decisions. Industry experts also believe that the pandemic crisis would prove to be a further boon to this way of doing business for pharmaceutical companies.
By the beginning of April 2020, the promotion of pharma products shot up by 84.5% digitally. Thanks to the pandemic that made us all realized how crucial medical aids are for the survival of humans and how easily things can function on virtual screens.
why virtual meetups are the new trend instead of face to face meeting between pharma and doctors
Time-saving and cost-effective
If there is an extremely tedious aspect of being a pharma rep, it is the unscheduled, undetermined physical visits. Unlike your existing and regular clients, visiting prospecting clinics and hospitals in the hopes of getting some facetime with the doctors can be bothersome and expensive, especially when the doctor is unavailable or doesn’t have the decision-making power. A virtual meet not only puts you face-to-face with a doctor who is available for the meeting but also guides you to the right person-in-charge of making purchase decisions. With time management hacks for medical sales reps, the sales reps could either close a million-dollar deal or have a door shut right in front of their face.
Build Your Portfolio Online
A virtual meeting app enables you to build your online portfolio and showcase your details. This means that when a doctor or a medical practitioner decides to connect with you, they would already know about who you are and what you offer. This simple yet effective step saves both you and the medical personnel a lot of time which would otherwise be wasted in introductions.
No more waiting to be connected
Gone are the days when you visit a practitioner’s clinic and wait an hour (or more) for them to find time to interact with you. With virtual meeting apps, you can send a meeting request to potential clients and be notified when they are available. Once a physician confirms the appointment, you get notified and arrange your meeting accordingly. This way, you don’t have to spend hours getting to and from one place to another for a 10-minute discussion.
Connect to manufacturers online
Your online portfolio on a virtual meeting app is not only visible to doctors and practitioners but also manufacturers. This means you have more chances of connecting and networking with medical associations, pharma manufacturers, and medical companies searching for suitable pharma reps.
Preferred Time App, an up and coming virtual meeting that connects pharma reps, manufacturers, and medical personnel, promises to deliver all the features mentioned above and then some. On the one hand, it allows doctors and physicians to keep track of the latest developments in the pharmaceutical industry as well as connect to pharma reps according to their availability. On the other, it enables pharma and medical sales reps to filter clients and interact with physicians, medical associations, and societies in an organized manner. For doctors, it will be a smart way to say goodbye to an unnecessary face-to-face meeting with pharmaceutical reps. Last but not least, it helps everyone limit physical contacts to only when it is needed, hence assuring Covid-19 safety and health measures being appropriately followed.
Our Take
According to a survey done in 2019, by the pharmaceutical market researchers with 30,000 doctors from 30 countries globally said that about 21% of Korean docs and 25% docs globally prefer digital mediums compared to a face-to-face meeting with pharmaceutical reps. This means the need was always there. The changing situation will further increase the need.