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Advanced data analytics key to increasing pharmaceutical sales

For nearly 50 years, CCM Pharmaceuticals or CCM has had a remarkable corporate presence in Malaysia to provide sustainable solutions based on innovative sciences to the healthcare, agricultural and manufacturing sectors. To sustain its growth in the next 50 years, this company has turned to Big Data Analytics (BDA) to enhance its sales performance in order to boost market penetration within Malaysia, regionally and beyond. BDA has supported CCM’s activities in expanding customer coverage as well as improving visibility and accessibility. With BDA, instant reporting via SMS, tracking of sales teams and improved interactive mechanisms of customer feedback has allowed the company to identify potential areas to target sales and marketing activities. All these have, of course, impacted the company’s bottom-line positively.

Challenges:
One of challenges faced by CCM was in keeping tabs on sales activities. The sales personnel did not have the necessary data on other clinics in the same area and they did not know how to maximise their individual coverage. CCM’s sales managers have to manage the whole team and motivate them to improve sales and support them to achieve their targets, but the sales managers were following traditional means to follow-up on their sales executives’ daily sales visits. As the company’s sales managers were not able to efficiently manage or oversee their sales teams’ coverage, they were unable to reach maximum customers. Due to this, the managers were not able to provide a comprehensive sales summary report.

tentacle-infographic

Solution:
To maximize customer coverage, CCM implemented Tentacle Technologies’ SMS-based Sales Reporting System (SRS); this assisted in improving visibility and accountability. Accessibility and productivity were also improved by the provided information. Furthermore, SRS provided instant reporting that facilitated the tracking of sales calls (visits), improving turnaround time for customer feedback, and identifying areas based on coverage to cross-sell and up-sell. The SRS enabled the sales teams to perform up-sell and cross-sell as well as to improve the penetration of each sales personnel.

Tentacle’s Dashboard for Sales Reporting provides the company with information that enables enhanced tracking and reporting. The data obtained is utilised to conduct recency, frequency and monetary (RFM) analysis. The analysis of purchase order amounts and visits are also facilitated by the data and these allow customer data mapping and enable overall coverage analysis for CCM.

This advanced SRS system is based on Tentacle’s own Data Analysis and Visualization Engine (DAVE). DAVE facilitates the identification of clearer trends and allows for faster decision-making, therefore prioritizing efforts for the right customers. On the whole, the system also easily uncovers hidden sales opportunities and assists in segmenting customers based on returns.

tentacleData Analysis and Visualization Engine (DAVE) gives superior visibility on sales performance and behaviour patterns

Business Benefits:
The SRS deployment brought about a 100% increase in the efficiency of data transfer and processing. Employee productivity went up 20% due to the implementation of highly systematic processes – faster delivery and better record management. All these culminated in a 15% improvement in CCM’s sales revenue. Overall security was also enhanced with a role-based access control. Reliability improved with round-the-clock support, providing more than 95 percent availability.

The Future:
Tentacle plans to upgrade the SRS so that it will have the capability to deal with real-time data. Instant sales information from sales personnel will enable managers to take proactive actions. The future SRS will also be able to capture the salesperson’s location as he moves from customer to customer. This data can then be analysed to make the salesperson more efficient and productive. The future SRS will also have video analytics. Client meetings can be recorded, analysed for a variety of parameters – such as the level of engagement between the salesperson and customer – and be used to further coach the salesperson.

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