Focus Magazine - Fall 2015 - (Page 26)

FEATURESTORY Executing a Key Account Management Strategy ■ By Wendy Heckelman, Ph.D. L ife sciences companies can no longer rely on the "one-to-one" or "sales representative to physician" model to drive growth. Treatment decisions are oen made by various stakeholders across large and complex healthcare and government institutions. ey face the challenge of improving patient outcomes while simultaneously reducing associated costs. erefore, decision-makers need solutions that address quality patient care and broader healthcare outcomes. In the last five to seven years, life sciences companies have become increasingly reliant on key account managers (KAMs) to target large and complicated healthcare systems and payers. KAMs have been given the responsibility to call on C-suite and director-level stakeholders to uncover needs, identify systems-level opportunities and create value for customers. Sales professionals in this role are required to possess capabilities that are different from those of the traditional sales representative. Specifically, KAMs need to have a deeper understanding of the healthcare marketplace, combined with the ability to navigate critical account stakeholders. e table outlines the KAM competencies and specific behaviors needed to be effective. Effective deployment of the key account management strategy requires cross-functional alignment and should consider a number of important variables: 26 * What are the high priority needs related to account management? * Is there a consultative selling framework in place? * What account planning process and supporting business analytics tools and systems are in place to develop and execute aligned account plans? * What guidance related to field collaboration, coordination and communication will exist to ensure optimal resource allocation and information sharing? FOCUS | FALL 2015 |

Table of Contents for the Digital Edition of Focus Magazine - Fall 2015

Focus Magazine
From the President: Training's Transformative Power
Table of Contents
Table of Contents
Guest Editors: The Role of Tension Management
Directions: More Ways to Connect
Front of the Room: Delivering the Unexpected
Neuroscience: The Neuroscience of Mindfulness
AstraZeneca: Creating a Blended Learning Curriculum
44th LTEN Annual Conference: The Power of Networking
Executing a Key Account Management Strategy
Member Solutions: Managing Global Learning
The Making of Great Leaders
Developing Reps: 5 Critical Steps to Success
Reaching Potential: Two Essential Skills
Virtual How: Medical Device Training Priorities
Ad Index
Focus Contacts
5 Questions with Anthony Caliendo

Focus Magazine - Fall 2015