example of Impact - REVENUE / GROWTH
Accelerating sales force effectivenessdetails
Client background and situation:
Healthcare company
Healthcare company
Experiencing declining revenues and wanted to completely revamp its sales force structure
Experiencing declining revenues and wanted to completely revamp its sales force structure
THe past
Prior approach & challenges:
Morale and turnover issues made it difficult to attract and keep top talent
Limited segmentation of physicians was leading to a "one size fits all" approach for outreach
Poor communication and feedback loop with sales representatives
Morale and turnover issues made it difficult to attract and keep top talent
Limited segmentation of physicians was leading to a "one size fits all" approach for outreach
Poor communication and feedback loop with sales representatives
solutions
Coppertree Partners approach:
refined strategy
Split physician population into their potential profit pools and compatibility with the company’s product suite to identify highest priority groups and corresponding strategies and staffing levels
restructured compensation
Aligned incentive structure with clear and pragmatic KPIs that sales representatives believed were achievable and fair
bolstered training and performance tracking
Trained managers on more effective coaching and feedback; redesigned internal training, messaging and tracking systems
Impact:
- 20% revenue increase without adding any additional sales representatives
- Higher morale and reversal of turnover situation
Additional insights and takeaways
Company was approaching physician groups based on legacy coverage instead of clear segmentation using data. Prioritizing these groups allowed for different levels of coverage and smarter use of resources to go after the 20% of groups that would deliver 80% of overall revenues. Fixing the KPIs was also critical because representatives felt that previous targets were unreasonable and did not incentive collaboration.
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