Commercial story: Components of Marketing & Sales analytics - SF sizing & HCP targeting (Story: CA 5/13 Read other posts in the series by visiting the 'All Posts' section)

Commercial story: Components of Marketing & Sales analytics - SF sizing & HCP targeting (Story: CA 5/13 Read other posts in the series by visiting the 'All Posts' section)

Sales force sizing is crucial for success, as it constitutes the largest portion of the sales budget. Overstaffing can result in underutilization and excessive spending, while understaffing can lead to missed opportunities. Achieving optimal sizing is essential and is a key aspect of commercial analytics. Effective targeting and prioritization of healthcare professionals (HCPs) or healthcare organizations (HCOs) are vital to this process.

1. Sales Force (SF) Sizing: 

> Workload Build-Up: Most used approach to quantifying the workload required to cover desirable prospects or customers. This involves identifying customer segments, delineating sales roles, and specifying the work needed to sell and service each segment.

>Sales Response Modeling: Using statistical analysis to estimate sales revenue at various sales force sizes. This helps in understanding how changes in the number of sales representatives impact sales.

>Competitive Benchmarking: Comparing the size of your sales force with competitors to ensure adequate market coverage and share of voice.

2. HCP Targeting: Identifying healthcare professionals (HCPs) who are most likely to be interested in your products and optimizing engagement strategies. Key aspects include:

>Predictive Analytics: Using machine learning and predictive analytics to identify HCPs who are most likely to prescribe your products based on their practice makeup, network, and prescribing behavior.

>Multi-Source Data Integration: Combining data from various sources, such as patient base, professional associations, and prescribing records, to create accurate HCP profiles.

>Personalized Engagement: Tailoring messages and content to the preferences and behaviors of HCPs to enhance engagement and effectiveness.

3. HCP Deciling & Segmentation: To rank healthcare professionals (HCPs) based on their prescribing volume or potential. Key aspects include:

>Volume-Based Ranking: HCPs are divided into deciles (groups of ten) based on their prescribing volume. For example, HCPs in the top decile (decile 10) are those with the highest prescribing volume.

>Resource Allocation: Sales resources are allocated more intensively to higher decile HCPs, as they represent the greatest potential for sales.

>Behavioral Metrics: In addition to volume, behavioral metrics such as loyalty to a product, propensity to switch, and prescribing patterns are used to refine targeting

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