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5 Steps to an Optimal Customer Experience

When it comes to marketing, the life sciences industry has a lot to learn from the practices followed in consumer goods, retail or financial services.

Read the full article on optimal customer experience by Simone Bailey, Director, GTM Strategy, IMS North America, Technology and Applications in Healthcare Sales & Marketing Magazine.

Click Here!

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Compensation and Hiring Survey

 The 2015 results indicate that we continue to be into a building phase. Our survey helps you see which sectors are expanding, how compensation structures are changing, and what the noticeable trends are. We saw some interesting trends and surprising results:

  • The healthcare vendor space is leading sales growth at a rate of 12%, followed by medical device at 7%. Marketing team growth is led by medical device and biotech at 8%. Across the board, sales and marketing team average growth remains strong at 6%.
  • Biotech sales compensation takes a jump in 2015 with top sales rep compensation up 40% over 2014. Biotech top sales reps earn the most at a total compensation of over 259K. This is the first year biotech top sales reps out-earn medical device top sales reps.
  • There is a high cost to both poor hiring and leaving positions open. The cost of a marketing or sales mis-hire is approximately $82K. The monthly cost for each open sales position is on average $45K, while the cost of an open marketing position is $39K.
  • At-risk compensation models are becoming even more risk/reward focused. The highest leveraged compensation packages were for top healthcare vendor reps, with up to 59% of their compensation in commissions. Not far behind were top medical device reps, with 57% of their compensation in commissions.

Check out our annual survey of what sales and marketing execs are earning across the healthcare spectrum. See what’s happening in the pharma, bio, device and vendor sectors, which are experiencing the most growth, and the consequences of bad hiring – and not hiring.  Click here to get your copy!

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We are proud to publish the Latest Issue of Healthcare Sales and Marketing Magazine

The New Issue of HS&M is Out – Featuring the TOP 50 Biotech Companies

Articles include:

The TOP 50 Biotech Companies –

What Dan Pink Thinks about Pharma –

Roundtable: Creating our Creative –

The Cleveland Clinic’s Top 10 Innovations for 2016 –

The 7 Sins of Sales –

PLUS: Breaking news updated constantly on People, Products (Approvals), and Progress (Deals)

Get it Here:

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What Dan Pink Thinks of Pharma

One of the leading business minds of our time weighs in on how we’re approaching our customers, and what we could do better. Learn about the new ABCs of selling (attunement, buoyancy and clarity), why our bonus structure should change, and how to be more engaged with the other people in the conversation. Click here for more!

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Cleveland Clinic’s Top 10

Each year this renowned institution assesses what innovations will be making the most impact. See video summaries about gene editing, vaccine advances, non-invasive fetal DNA testing, more natural artificial limbs, and much more.  Click here for more!

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The Seven Cardinal Sins of Sales Professionals

HiRes_2Sean Moore, Business Unit Vice President, Olympus Corporation of the Americas, shares his seven cardinal sins of sales.  Sean explains how these sins get in the way of reaching success and how avoiding them can help you reach your career and finance goals.