Description

Sales reps are a vital part of a life science supplier's success because they provide a direct link to scientists. By improving your sales reps' credibility and effectiveness, lasting relationships with customers will be formed. These relationships will boost satisfaction, loyalty and ultimately, long-term profitability. Sales reps are an expensive resource, and companies often do not realize the maximum return on their investment. Merely focusing on the quantitative aspects, such as increasing the size of the sales force, will not necessarily increase revenue. Instead, a combination of qualitative and quantitative factors needs to be addressed in order to maximize sales force performance. Based on a 34-question survey of over 1,800 scientists, the second edition of Improving Sales Rep Performance: A Global Analysis is designed to offer insights on how sales executives can align their sales force recruitment and training, organization and support in a way that reflects the needs and expectations of scientific customers. For example, to provide guidance in recruiting, the report identifies the personal and professional qualities that scientific customers appreciate most. Additionally, it describes how scientists evaluate the performance of sales reps so that this information can be incorporated into sales training programs that develop more credible and effective reps. The report also highlights the relative value of the various functions typically performed by sales reps, including where scientists need purchasing assistance and technical support. Building upon our findings in 2003, the analysis in this year's report heavily focuses on the differences in the needs and expectations of scientists in North America versus those in Europe and the rest of the world to help companies more effectively tailor their sales force. Another feature unique to this year's study is that several survey questions were answered with regards to specific sales forces. While the report depicts the responses to these questions in aggregate, more than 40 company-specific profiles are available to supplement your understanding of your customers or those of your competitors (see Page 3 for details). Overall, this report can serve as a guide to better understand scientists so that your sales reps can increase your company's competitive advantage by delivering value, building brand equity and fostering a positive image. Improving Sales Rep Performance contains over 70 charts and/or tables and more than 60 cross-tabulations for the 34 survey questions. Below is a glimpse of the key findings derived from just a few of the survey questions: • Above all other qualities, scientists (60%) believe it is extremely important (a score of 7 on a seven-point scale where 1=not at all important and 7=extremely important) that sales reps understand product applications. (Question 5) • When scientists encounter a technical problem, 33% immediately consult a printed manual/protocol for assistance rather than turn to a colleague or co-worker (27%). (Question 11) • More than 60% of respondents want detailed product information, and as a result, expect sales reps to know their products inside and out. (Question 17) • Scientists interact most with sales reps from Invitrogen, Bio-Rad and Fisher Scientific. (Question 24) • While most of the scientists surveyed (91%) find that their sales reps are reliable, 12% also described their sales reps as unresponsive. (Question 27) • Over 35% of respondents believe that sales rep assistance is most useful when using a new technique or application. (Question 30) (electronic copy also includes 1 print copy)

Table of Contents

Section 1. Analysis and Interpretation of Survey Results Introduction Sales Rep Selection and Training 1-3 Personal Qualities 1-4 Professional Qualities 1-5 Valued Assistance 1-6 Purchasing Support 1-8 Technical Support Sales Force Organization 1-10 Forms of Organization 1-11 Frequency of Contact Product Information and Promotional Items 1-14 Preferred Product Information 1-15 Preferred Promotional Items Competitive Dynamics 1-17 Measuring Customer Satisfaction 1-22 Sales Reps from Most Selected Companies Customer Profiles 1-24 Aggregate Customer Profiles 1-25 Customer Profiles by Geographic Region Segmentation Analysis 1-27 Psychographic Segmentation 1-30 Demographic Segmentation 1-32 Summary Section 2. Study Methodology and Demographics 2-1 Study Methodology 2-3 Understanding Quadrant Analysis 2-5 Definition of Terms 2-6 Demographics 2-7 Questionnaire Section 3. Presentation of Survey Data SALES REPS: VALUE OF ASSISTANCE 3-1 Importance of sales rep assistance when looking for specific types of information 3-3 Overall satisfaction with the assistance of sales reps who typically contact lab SALES REPS: PERSONAL & PROFESSIONAL QUALITIES 3-4 Importance of specific personal qualities of sales reps 3-6 Overall satisfaction with the personal qualities of sales reps who typically contact lab 3-7 Importance of specific professional qualities of sales reps 3-9 Overall satisfaction with the professional knowledge of sales reps who typically contact lab PURCHASING SUPPORT & ADVICE 3-10 Products for which purchasing support assistance from sales reps is most useful 3-11 Most important questions to ask sales reps when considering a purchase 3-12 Percentage of orders in a typical year for which it is necessary to contact a supplier's sales rep for purchasing assistance 3-13 Preferred frequency of sales rep contact after the purchase of an expensive instrument or other piece of life science instrumentation TECHNICAL SUPPORT & ADVICE 3-14 Primary sources of assistance when a technical problem is encountered 3-15 Percentage of orders in a typical year for which it is necessary to contact a supplier's sales rep for technical assistance SALES FORCE ORGANIZATION, PRODUCT INFORMATION & PROMOTIONAL MATERIALS 3-16 Organization of sales force that is most useful 3-17 Usefulness of a dedicated, single-point-of-contact sales rep responsible for coordinating ALL requests 3-18 Product information sales reps should leave behind after a visit 3-19 Most enjoyed promotional items received from sales reps EXPERIENCE WITH SALES REPS 3-20 Purchasing styles 3-21 Preferred relationships with sales reps 3-22 Average number of visits from sales reps per week 3-23 Percentage of visits that were unsolicited or unexpected 3-24 Average number of telephone calls from sales reps per week 3-25 Percentage of calls that were unsolicited or unexpected 3-26 Frequency of personal interaction with sales reps for specific types of products 3-28 Interaction with sales reps from specific companies 3-29 Satisfaction with sales rep assistance when looking for specific types of information 3-31 Overall satisfaction with the assistance of sales reps when looking for product information 3-31 Overall satisfaction with the assistance of sales reps when looking for logistics and order placement information 3-33 Personal qualities that best describe sales reps 3-35 Perception of sales reps as being knowledgeable of research details 3-36 Perception of sales reps as being a good source of technical support and advice 3-37 Circumstances in which sales rep assistance would be most useful DEMOGRAPHICS 3-38 Role in Laboratory 3-39 Year Born 3-40 Gender 3-41 Market Segment 3-42 Job Position 3-43 Geographic Region 3-44 Areas of Research Section 4. Appendices 4-1 Insights and Perspectives 4-48 Cross-Tabulations of Survey Data 4-113 Additional Supplier Information 4-116 Other Publications 4-118 About BioInformatics 4-119 Our Valued Clients