Key Account Management teams are still evolving but they're also concerned about their future. They need appropriate measures to demonstrate their true value because, without them, it's impossible to understand the real impact of their specialist skills. It's widely agreed that both quantitative and qualitative tools are vital but what is the correct mix? We've taken a forensic look at how KAM metrics have changed over the last 12 months and found out how the best new ideas are being actioned.
In KAM Metrics: Measuring Success 8 senior level KAMs from across the sector discuss recent progress, their lingering concerns, as well as revealing what else must happen if pharma is to propel KAM performance forwards to greater success.
Use this report to:
- Avoid slipping back into old habits: Quantitative metrics only show one part of the picture, but they are compelling for traditionalists. See which combination of quantitative and qualitative measures will help you to dig deeper and deliver far better insights.
- Fill the gaps in your approach: Discover what top KAM teams are already measuring and adapt their ideas to boost your own KAM measurement and management strategy.
- More effective 'super account' management: The most promising accounts need to be carefully matched with your most effective KAMs but how can you be sure the right skills are being applied? These measures take away the guesswork.
- Decide what to measure, how, and how often: Are some of your metrics a little 'ad hoc' or inconsistent? Understand where best to focus your attention to gain a balanced and confident view.
What to expect from this report
Many industry opinion leaders have already commented on how to measure KAM success from a theoretical perspective: we've talked to experts about what is happening in practice today. Specifically focusing on the last 12 months, you can expect considered expert views on where progress has been made, where it hasn't (and why), and what challenges lay ahead. Most of all, KAM Metrics: Measuring Success will provide you with actionable insight to drive forward your KAM measurement strategy.
How did we do it?
- We identified 5 current issues impacting how KAM success is measured
- We explored these via secondary research to put 18 targeted questions to 8 KAM experts
- We used all of this to uncover 50 unique new insights
- Insights are supported by 104 direct quotes
Example insight included in KAM Metrics: Measuring Success
"The top quantitative, qualitative, and account planning and implementation metrics have been identified. The most commonly used quantitative KAM metrics were divided into four categories: sales-related; contact-related; account implementation related; and, patient outcome related. The top qualitative metrics were divided into two categories: KAM competencies and business outcomes. The most useful account planning and implementation metrics were divided into four categories according to whether they elicit value, market information, health outcomes, or account potential. These categories are discussed in more detail within the report."
Example quote included in KAM Metrics: Measuring Success
"Constant changes to KAM incentive models present another challenge. It isn't surprising to see changes to the incentive models for sales teams for a variety of reasons, but what is difficult is to have large changes for KAM teams. The individuals who feel this change the most are the external customers at the key accounts. They know when they are being 'sold.' If pharma companies want to be true collaborative partners, they need to make sure to support their key account teams apart from sales as much as possible."
Why buy now?
KAMs across pharma are feeling under-utilized and misunderstood. This new tribe of value-bringers is totally different to the sales professionals of the past: they have different skills, they play the 'long game' and nurture contacts, and they have the potential to bring even greater rewards. The old sales rep relationship was always about the product whereas the KAM relationship is focused on the account. The former brings a sale, the latter builds much more valuable commitment.
Sources / Contributors
The expert panel for KAM Metrics: Measuring Success
- Steve Finnigan brings 18 years of experience in the pharma industry to his position as a Key Account Manager at Otsuka Pharmaceuticals, UK.
- John Halladay started working for Bayer as a Clinical Sales Specialist in May 2018. Prior to this, he held Key Account Manager roles with Servier and Astellas Pharma. Halladay has over 35 years of healthcare sales experience and holds a consultancy role with Commissioning4health.
- Sameh Khair is currently a Customer Lead for Pfizer in UAE having worked in various roles for the company since February 2006. Khair has over 14 years of experience in sales and key account management.
- Ellie Saxer is the Corporate Account Director at Mitsubishi Tanabe Pharma America. Previously she held KAM and sales roles for Daiichi Sankyo, Inc. and AMAG Pharmaceuticals; she has over 15 years of experience in the healthcare industry.
- Scott Symes is NHS KAM Director at Sanofi, UK and has over two decades of experience in pharma, from sales to business management. He is passionate about customer engagement.
- Anonymous National KAM has been in this role for almost 9 years, having previously held project management and sales roles in other pharma companies. He has 20 years of industry experience and is an expert in cross-functional team leadership, market access strategies, and vendor management.
- Anonymous Oncology KAM has over 25 years' experience in the pharma industry, holding his current role within a top 10 pharma company for the last 7 years.
- Anonymous KAM is an experienced award-winning account manager who has worked for a multinational pharmaceutical company for over 17 years.
For more information about this report visit https://www.researchandmarkets.com/r/klfb8z