In the pharmaceutical industry, like any industry, shortcomings need to be analyzed and rectified for better sales. Understanding whether the lack of sales is due to an ineffective pharma sales pitch or a poor Product/Market Fit is crucial for refining the strategies to get a better result. 

Effectiveness of Pharma Sales Pitch. 

The pharma sales pitch involves presenting your products and all its necessary information, compellingly to potential customers. 

In the early days of the Pharma industry, 70% of HCPs were accessible to Pharmaceutical Brands and could pitch their ideas to a Physician for about 20-30 minutes. But that is not the case now. But, in the present time that percentage has decreased, and so has the time to pitch in ideas. 

To assess the effectiveness we have to first go through a Pharma Sales Call which, nowadays, lasts about just one or two minutes. So, salespeople have less time to influence and convince HCPs to prescribe their products. One can ensure the sales pitch efficiency by: 

Understanding the audience: 

Collect information about the doctors who would be interested in your product, you can do a better job selling your pitch if you have some data on their prescription pattern, demographics, etc.

Straight Forward Pitch:

Make sure to not sugarcoat or over-complicate the sales pitch. A pharmaceutical sales pitch should be straightforward, also don’t use Jargon if not necessary. Make sure to highlight the benefits of a product and how it solves problems and improves patient outcomes. 

Feedback:

Collect feedback from your sales team and customers to find out the effectiveness of your pitch and constantly better it. 

Effectiveness of Product/Market Fit 

Product Market Fit is about ensuring that your product meets the Market needs. For this, initially, you need a thorough grasp of the market the brand is aiming to release its product. So, conduct a thorough research to understand what is in the market and what the market demands. It will also help you gain an upper hand if you get 

information about your competition, ethically. 

Customer feedback is important in pharma marketing as much as it is for creating the perfect pharma sales pitch. Engage with customers to gather information about your product, and make improvements based on the feedback. 

Digital Marketing Strategies 

Now that we have evaluated the Pharma sales Pitch and Product/Market Fit let’s see how we can integrate it into digital marketing strategies. 

Make the right use of social media platforms like Twitter, to engage with HCPs. Use AI-powered digital tools like HCP IQ by Multiplier AI to gather information and segment it based on similarities. This can make the process of creating personalized content like emails and newsletters to provide valuable information much easier. They also help you analyze data to track how effective the brand’s marketing strategies are. 

The HCP data it gathers will help you target the HCP who will have an interest in the product. You can also use it to gather information to customize sales pitches accordingly with the doctor data HCP IQ collected.