The numbers are in – the first definitive study of social media in selling reveals that 78% of salespeople using social media outsell their peers.
What is most interesting in this study is that 75% of sellers who use social media received NO FORMAL TRAINING from their employers. Go figure. These sellers are what one could consider “casual” users.
While there is definitely correlation between social media usage and sales performance, there may not be causation. But, who cares?
I think this has more to do with the nature of true star salespeople – they will see whatever makes them more efficient and effective. Clearly this study shows social media is such a tool.
Now, imagine what would happen if your company adopted social media and conducted FORMAL TRAINING? That might be cause for celebration.
Francis Bacon is credited with the statement “…knowledge is power….”
If one accepts this precept, then Steven Sonenreich, chief executive of Mount Sinai Medical Center in Miami Beach is arming his customers/patients with quite a bit of power. Sonenreich is going to publish the prices his hospital charge patients for virtually all of their procedures.
This is a very bold move; it threatens the cabal that is the US healthcare provider network; it allows consumers to understand what their healthcare truly costs; this is disruptive.
Regardless of your stance on healthcare reform, Americans are relatively savvy consumers. Sonenreich’s move is long overdue and will greatly enhance American’s understanding of the healthcare system. An informed consumer is an empowered consumer.
Nice move Steven; hopefully you have established a trend others will need to match. This article shows why this is so damned important.
Today we tried to accomplish something, and because of short-sighted decisions by one of our vendors, I am not able to do what I want and it pisses me off. Here comes my rant.
We, like many thousands of companies, use a cloud-based customer relationship management application. For the most part, it works. We are about as happy with the application as any company is with this particular product.
In an effort to improve our processes and information flow, we’ve elected to add this capability to our mobile devices. It’s bad enough we have to pay an additional license fee to add the ability to mobile devices; it’s even worse when we cannot add it to ALL of our mobile devices, simultaneously.
Let me explain. This particular product only has an iPhone mobile client (which I understand—this was a revolutionary product introduction, 6 years ago). There is no iPad client. So, we installed the iPhone client on the iPad (not ideal; but it works). We then installed the iPhone client on the iPhone, as well, and attempted to log-in. NO. SUCH. LUCK. Only one mobile client device per log-in ID.
Are you kidding me?
I can understand (and accept) delays in product introduction because of development cycles and product roadmaps and timelines. But seriously, 3.5 years after the introduction of the iPad there is no iPad client? 3.5 years after the dawn of the three-device information/sales worker, I am forced to use a particular device—one with a small screen that makes it difficult to navigate the complex pages of customer/account information?
I am a dyed in the wool sales guy—I am their target user. This is a HORRIBLE user experience. I own three devices; I use all three devices—a lot. Let me use all three devices, indiscriminately. Let me use these devices without having to pay additional license fees for each device.
Apple lets me use their cloud to synch my iTunes account with my: iPod, iPhone, iPad and my PC. This is the correct model and in keeping with the true nature and value of the cloud. All software companies should learn from this model – this is what “consumerization” of enterprise software is all about.
I’ve returned after 3 conferences/shows in 3 cities over two weeks. I pulled “booth-boy” duty; spoke; moderated a panel; and conducted 21 “speed-dating” F2F discovery interviews with senior Life Sciences executives.
I can summarize the sentiments of the audiences/participants with the acronym: FOOD (Fear, Opportunity, Optimism, Desire).
Fear – there is palpable anxiety across all occupations within the LS industry about change. Clearly the business model for LS companies is changing; Obamacare dramatically changes reimbursement, taxes (on MedTech companies); HCP access is diminishing; sales forces are shrinking; marketing budgets have declined; ROI is required; etc., etc. Many individuals fear what the future holds and whether there will be a place for them in this changed landscape.
Opportunity – there are those who view change as an opportunity for growth, expansion, performance improvement, success. Hardship often provides the impetus for and is the catalyst for change. These times and circumstances may provide the reasons to stop doing things the way they have always been done and to do some new, creative and innovative activities that will differentiate.
Optimism – there are many who view the advent of digital, content marketing, and direct HCP and patient engagement as strategies that will enhance their service to/of the customer and will markedly improve the performance of their company. They see these times as catalysts and are embracing the growth these changes are bringing.
Desire – most in the industry are expressing a sincere, heartfelt desire to do things differently, to grow, to change, to make an impact. Many are looking for leadership to show them the way; others are saying “…get out of the way, I will lead.”
Throughout history, severe environmental influences are what caused Darwinian evolutionary growth and change. We are clearly experiencing severe environmental influences in the Life Sciences industry. As with any evolutionary progression, some will evolve and grow; some will not. The difference will be in how we RESPOND to the influences.
What is your fate?
This week I am at the Marcus Evans Pharma Sales Summit. The majority of the content is focused on how dramatically the landscape is changing for the rep. It’s clear the industry is aware of the need to change–some firms are executing effectively; some not so much.
However, one of the most provoking thoughts was triggered by a comment over dinner. Sai Rangarao of Novartis said: “….whenever I hear someone say ‘adherence’, I interrupt them and tell them to talk about ‘loyalty’.”
This is an amazingly simple and insightful comment. The single greatest thing pharma companies can do to improve patient outcomes and drive revenues is to improve adherence—I mean loyalty.
If people were as loyal to their medicine providers as they are to their coffee suppliers, we would be a much healthier population. Once pharma marketers embrace and execute this strategy, their fortunes will improve dramatically.
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