CRESCOMED

Helping Medical Companies Grow

Another successful Leadership Workshop

For the 9th year, CRESCOMED, with the help of its associate Vom Stein Consulting, delivered an effective Commercial Leadership workshop for 11 High Potentials of a large Swiss pharmaceutical company focused on a rare disease. The participants from all over the world spend 3 intense days to expand their toolbox and to sharpen the tools they already used. Apart from good fun, there was a lot of positive energy flowing through the group. They all committed to practice at least one learning over the coming months. Round 2 of the workshop is in October. Looking forward to seeing all the progress these Commercial Leaders have made in the meantime.

From Super Rep to Sales Manager

We all know how it goes: A Super Rep gets promoted to the position of first line Sales Manager. Of course, "if you know how to sell, you know how to lead a Sales team", no? (Sarcasm). This is the biggest mistake many medical companies make: promoting the high potential Key Account Manager to Sales Manager without offering support. What people tend to forget is that this is a ENTIRELY DIFFERENT JOB! The skills of a successful Sales Manager may not be present at the start of this new role. This creates frustration in the newly promoted Sales Expert. On top of that, she now has her peers reporting into her! She can't make the difference anymore by selling, she needs to do it THROUGH other people. Quite challenging. It should be standard practice for companies promoting former reps to offer them a coach for 6 months. This will serve as a shock absorber. We enjoyed greatly to accompany a newly appointed Sales Manager on her new trajectory. We started by making sure the person understood her default leadership style, became very mindful about this, before she could start working on her rapport with peers, the team and her manager.

Hemodialysis: To invest or not to invest (Part II)

About 4 years ago we were involved in a commercial due diligence effort related to a hemodialysis company. This time again we had the chance to validate an investment thesis, but this time it was for a company active in the home dialysis space. For years, people have been saying that Home Dialysis (HHD & PD) is the future. But it seems that there are various barriers to adoption. Some are related to the product, some to the patient population, but very often there is a market access component as well. A new therapy often does not fit established reimbursement schemes. Unfortunately for innovators, it is not enough to have a safe and efficacious therapy that is approved by the regulatory bodies and liked by the patients. If the funding is not there, everything may collapse.

Commercial leadership for pharma

It looks like we are on a roll. We have again been invited by a Swiss pharma Client to conduct workshops based on our highly customised Commercial Leadership course. This course differs from others because: 1) we do not offer off-the-shelf training, 2) we do not offer high brow academic sessions, 3) we use a humanist, coaching philosophy, 4) we use 2 coaches who are still very close to the real life, 5) we make every single learning moment as relevant as possible by linking it to the Client's reality. A truly global programme now, we are expecting to see a lot of positive feedback in the coming months and years.

The value of interim management

Companies realise that leaving a department without leader can be very detrimental and difficult to fix later on. For a player in the blood transfusion industry we stepped in to lead the EMEA Marketing team. Despite being very skilled, very autonomous, Marketing Managers want to be part of the big picture and crave Corporate strategy and translation to the regional situation. Apart from the people side of things (which is HARD - Thank you Tom Peters for pointing this out to us), a team wants to understand where they fit, how they can contribute. And of course they need to be recognised for great work regularly. Never leave a hole in our org chart. The void resonates through your entire company.

Hemodialysis: To invest or not to invest?

The dialysis space offers a number of investment opportunities, now that consolidation is increasing. Some niche players may be interesting targets. We did a reality check of an investment thesis using primary and secondary research. It is fascinating to hear how customers have a very good view on suppliers despite the fact that they are not familiar with the business aspects "behind the scenes". Never underestimate a customer! They watch you, they judge you. They are your ideal coach. Detached and critical, but with a vested interest (the want good therapies for their patients).

How to sell a therapy portfolio

For our Client, Abbott Vascular, we developed a "Train-the-Trainer" Workshop to drive the adoption of a Therapy Portfolio Selling mindset among the sales people. Moving away from a product focus based on features & benefits, we created a framework for true value-based selling of an entire therapy offering. This consultative method not only motivates the sales team more, but will also engage prospects in a new way.

You don't launch alone

For Medtronic we developed the New Product Launch Process. This new process was supported by the Market Access team. The purpose was to integrate all relevant stakeholders in a streamlined product launch sequence. We made Market Access a dominant player in this concept, but also less trivial functions like Supply Chain were included early on. The process was explained in a series of trainings for a global audience and was accompanied by an infographic poster for further consultation and promotion. All the critical success factors of a MedTech launch were incorporated and a number of practical check lists were developed.

When your customers turn into Ambassadors

For our Client, Cerus Europe BV, we have developed a Marketing campaign, geared around their current base of loyal customers. In collaboration with a Marketing Communications agency a highly customised series of customer success stories was developed. Based on real interviews and new photography, high quality collaterals were created. The campaign had a noticeable impact on prospects. Nothing beats the word of a peer recommending a product or service. At CRESCOMED we remind our Clients all the time that a routine purchaser is not the end station. Build loyalty further and turn them into ambassadors. They will magnify your share of voice and credibility.