A life sciences client was enjoying strong top-line sales growth but faced competitive headwinds causing challenges to its market share and creating limited prospecting opportunities for the sales team. While its Research segment growth outpaced the market, its Applied segment was experiencing slower growth. At the same time, the number of sales opportunities had been declining over the past two years.
Even though the client transformed its sales strategy to a market segment-driven approach in 2021, its business units continued to operate in product-centric teams. After leveraging the expertise of Alexander Group in 2021 for its commercial transformation, the client sought to continue the partnership in an effort to evolve their go-to-market model and grow share, enhance the customer experience and foster relationships with new customers.
Alexander Group sought to work collaboratively with the client to assess, analyze and implement a new coverage model. The success metrics of the current model were evaluated alongside more than 50 interviews that provided qualitative input. Throughout the engagement, Alexander Group aligned on the future state coverage model with the design team and supported the team as they implemented the model for the upcoming fiscal year.
Since 2020, the client’s win rate has been increasing, but they have also seen a decrease in the number of sales opportunities. This indicates limited new customer growth and prospecting. Customer trends indicate that more customers are demanding technical and workflow expertise, yet, the customer deployed half as many product specialists as its competitors. The demand for enhanced product knowledge influenced:
Designing a Geographic-Based Coverage Model
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