Introduction
A Life Sciences Client With Limited Commercial Marketing and Digital Enablement Needed to Drive Next Level Revenue Growth
A global life sciences company faced numerous challenges regarding commercial marketing and digital strategies. The company was held back by inconsistent resourcing and duplication of functions across teams, resulting in fragmented strategic planning and execution. At the same time, growth was hindered by limited holistic KPIs and a technology strategy that was not comprehensive or deliberate. Still, the company sought to achieve growth. This required a careful assessment of individual contributors’ and managers needs for the future state of the company.
Approach
Analyze and Define Roles and Responsibilities for Future State Commercial Marketing
The client chose to partner with Alexander Group to provide headcount sizing and structure recommendations, a governance framework, measurable KPIs, and a detailed change adoption plan. We worked closely with the client to:
- Design 34 future state Commercial Marketing jobs and 18 Digital jobs, outlining roles and responsibilities
- Define 10 competency areas with 32 associated skills for Commercial Marketing and 6 competency areas with 22 skills for Digital
- Size individual contributor needs for future-state organization, leveraging current state sizing, managerial expertise and industry standards
Commercial
Marketing jobs
- Design 34 future state jobs
- Define 10 competency areas
- Define 32 associated skills
Digital
jobs
- Design 18 future state jobs
- Define 6 competency areas
- Define 22 associated skills
Key Findings
Marketing Resources Make Significant Contributions to Annual Funnel
Alexander Group identified that the client was on the low end of expected revenue per marketing resource productivity ($10 million vs. $9–$13 million benchmark). The engagement uncovered that marketing employees drive $15 to $20 billion in annual funnel, with one marketing resource generating 1.8 to 2.6 times the average sales representative’s productivity. This highlights a significant reason to accelerate marketing resources and increase investments and competency around marketing and digital talent.
Recommendations & Outcomes
Efficiencies to Realize Savings and Growth
Through this engagement, the client was able to reinvest $2.3 million in net marketing expenses by establishing 12 headcount efficiencies including investment in new roles across commercial marketing and digital. The client also expects that employing Alexander Group’s recommendations will enable them to:
Ultimately, the life sciences client will become a more effective, scalable and modern organization with the right commercial marketing investments and efficiencies. The newly created digital organization will own and execute a commercial digital strategy.
Engaging an Expert
Identifying Strategic Opportunities for Commercial Marketing Optimization
Inconsistent and fragmented commercial marketing resources can limit revenue growth and business development. Alexander Group has the expertise to help you optimize commercial marketing efficiency and investments to achieve an optimal future state.
About Alexander Group
Alexander Group understands your revenue growth challenges. Since 1985, we’ve served more than 3,000 companies across the globe. This experience gives us not only a highly sophisticated set of best practices to grow revenue—we also have a rich repository of unique industry data that informs all our recommendations. Aligning product, marketing, operations and finance efforts behind a successful sales organization takes insight and hard work. We help the world’s leading organizations build the right revenue vision, transform their organizations and deliver results.
© 2024 The Alexander Group, Inc.® (AGI)