Drug Rep Time

How to succeed in Pharmaceutical Sales.

Fear.

In my last post I promised to review the topic of “appealing to fears”. I stated that in order to grab your doctors’ attention and to keep it long enough to be able to convey your message, you need to master the skill of appealing to their fears. However I only can imagine the reaction that my peers will have if I say “Scare them”.  So let’s say that I am  “FEARful” of saying what I feel like saying and let’s address the topic from a different angle: In order to better understand your doctors you have to understand their fears. You won’t find this topic in any sales books or in any of your sales manual and training. Put your thinking caps on and don’t judge me if I tickle sensitive spots.

Doctors like to feel and look smart, intelligent and respected. They are generally big snobs and think very highly of themselves. They hate to be publically outsmarted especially by those of who are of lesser education, younger age and better looks. They love to spot and to be part of new trends. They like to feel that they are in on “something” but afraid of getting confused by your logical fallacies ( CafePharma’s Dr.Dave’s favorite term). They like to work less and to make more. They are scared that with the way things go, they will have to work more and settle with less. Doctors want to retire early but are afraid that they won’t be able to . They are jealous of ” good old days “. They are anxious and afraid of the trends in health care especially with the falling reimbursements, increased labor challenges, new government coming , etc. Not to mention the perpetual fear of lawyers and litigants. They are anxious about falling respect to their profession. They are uncomfortable with poor visibility of the future and most of the time have no good plan B, since they were too busy studying to become business  savvy. They are afraid that their energy will deplete and feel older than their biological age. I hope you are getting the picture. What I am saying is, in order to build relationship and trust you may want to learn what they feel, with fear being the strongest feeling of all.

Disclaimer: when I say “they” , I mean us. I am one of them.

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April 20, 2008 Posted by | Inside your doctor's mind | , , | Leave a comment

Only 3% are buying now.

Across the board the statistics show that: 3% are buying now, 6-7% are open to it, 30% don’t think about it, 30%  don’t think they are interested, 30% know they are not interested. Compare that to your answers to the previous post. So go back to the stadium where you have 1000 doctors who came to listen to you but don’t have to stay. What do you need to say to move the crowd up the ladder: to convert those who are open to it to “buying now”, those who are “not thinking about” it to “open to it”, etc. The answer is you either got to appeal to their fears or to feed their burning desire to learn/ educate them. I will dedicate my next posts to those big two.

April 9, 2008 Posted by | Inside your doctor's mind, Marketing and Sales strategies | | Leave a comment

The stadium pitch.

I would like to introduce you to a great concept created by an outstanding marketer, Mr. Chet Holmes. It’s called “The stadium pitch”. This concept, once mastered, will arm you with a powerful understanding of the psychology of your prospects. Let’s imagine that you sell XYZ and that you have an audience of 1000 doctors who agreed to give you their attention for as long as you can retain it. You have a unique chance to address that audience and to convince them to write your outstanding XYZ product, but the caveat is that nothing will keep them in their seats and they are free to get up and leave at any time during your pitch. Turns out that no matter what you sell ( cars, furniture, office equipment, ED medications or ice cream ) there always will be 5 categories of prospects: 1. Those who are ready to by right now. They are sooo ready that you only need to offer; 2. Those who are open to “the idea of buying”. They are mostly ready to change, but may not yet be “buying now”; 3. Those who are “not thinking about it”. They are not against it, not for it, but just ” not thinking about it right now”; 4. Those who “think they are not interested”. They are not looking for any change and are happy with what they got at present; 5. And, finally, the last group is ” definitely not interested”. They are aggressively “anti-XYZ” ( please, do me a favor, leave them alone). Let’s go back to the stadium and answer the question: What percentage does each of the five categories represent? I want you to estimate and assign a % to each group in the comment section. This post will be continued once I see some answers. Of note, the statistics across all businesses is about the same, no matter what you sell. So, please, do not say “It depends…”. Just give us your estimates.

April 5, 2008 Posted by | Inside your doctor's mind, Marketing and Sales strategies | , , | 8 Comments

This is my way to support those of you who sell Vytorin and Zetia.

Hello guys. At the end of the day it’s not about Vytorin or Zetia, it’s about YOU. Watch the clip below till the very end; you’ll understand why. http://www.youtube.com/watch?v=-YUxbDEPFiM

April 1, 2008 Posted by | Your brand message | , | 2 Comments