According to research conducted by KPMG, “2015 was a record breaker for M&A in pharma, medical and biotech with deals worth $575 billion.” 2016 promises to be another year of high M&A activity as “dealmakers expect to increase their number of acquisitions…” This same research cited that life sciences is one of the top two industries that will experience the greatest number of M&A deals. Most of the life sciences organizations are undergoing significant structural changes to better align their sales force with the needs of the healthcare market and to curtail the loss of revenue and market share, due to patent expirations and increasing competition from generics.
To help life sciences sales organizations navigate the common challenges associated with M&A, SPI Health™ developed a learning and enablement solution based on a continual learning model, focusing primarily on quickly and effectively unifying and preparing sales teams to be a value-add resource for their customers. Life sciences organizations that implement the M&A Survival Kit solution should expect their sales force to achieve the following goals in as little as 6 months:
- Deliver consistent brand messages as a result of Sales & Marketing alignment
- Identify key stakeholders and their individual value drivers
- Leverage a common, dynamic sales process
- Improve their ability to effectively position the value and differentiation of solutions
- Prioritize opportunities, determine account strategy, and defend key accounts against competitors
High-Level View of the M&A Survival Kit
- Sales Talent Audit – Identify/confirm the strategic sales competencies that drive YOUR organization’s business outcomes.
- Solution Messaging – Uncover the true value and differentiation of your solutions and promote consistent messages using various media.
- Sales Process Alignment – Identify key stakeholders and their value drivers, and leverage a common, dynamic sales process to navigate short and long sell cycles.
- Account Management Foundation – Leverage account-specific information to evaluate the account, identify and prioritize opportunities, determine strategy, and defend the account.