The Pharmaceutical Industry and CRM

The Pharma Industry

Medicine is big business. From $390 billion in 2001, the pharma industry has seen tremendous growth and was valued at $1.2 Trillion in 2018. By 2023, global spending on medicine is projected to reach $1.52 Trillion. The pharmaceutical revenue for North America in 2018 was pegged at 48.9%, while China has seen the highest growth rates in recent years.

The pharma industry is also responsible for the research and development of new and better medicine. The task for marketing these products also falls under their responsibility and this is where the sales team steps in.

The CRM Industry

Would it be a surprise to know that CRM is now the biggest software market in the world? Don’t be, because it is. It is projected to reach $80 Billion in revenues by 2025. This can be attributed to new trends emerging and merging with the CRM space that includes social media, mobile apps and voice technology and AI. 2019 saw increased mobile CRM use which was due to the fact that a lot of companies were adopting cloud based CRM solutions, which allowed their sales reps to access the system from anywhere with a plethora of devices. Sales and marketing departments benefit the most out of CRM software – and ironically, customer relations come only third on the list of departments that use CRM.

When worlds collide

The pharma industry is a gigantic place to navigate – sales or otherwise, and without the necessary tools, tracking your customers and products could prove more than a handful. With a trillion-dollar industry at your doorstep, wouldn’t it be natural to have every bit of an advantage right at your disposal? Taking a slice out of the pharma pie will be daunting, but don’t fret; recent advancements in CRM software technology provides the perfect solution for this gargantuan task. Voice technology cuts down the time your team spends on administrative tasks, like data entry and gives them more time to track down and close a sale. Arm your team with an efficient and reliable voice-to-CRM services. Hey DAN is an advanced voice-to-CRM solution with a unique combination of technology and intelligence that is both fast and efficient. The sales rep just needs to speak into their devices and let Hey DAN do the rest.

Voice-to-CRM and the Pharma Sales Pipeline

Keeping your pipeline busy

With so much sales to be closed in the pharma industry, your pipeline should always be growing – voice-to-CRM ensures just that. Quickly access customer data and know exactly when a sale is closed – and reload your pipeline instantly.

CRM systems ultimately aim to improve sales performance by streamlining its processes.

The art of the follow-up

Easily recognize which client needs a follow-up and create schedules that work. Voice-to-CRM gives you better leverage of your time plus getting  up front information already in your CRM by the time you are ready to work on it.

This gives you more time to do what you do best, nurture those leads and close.

Pharmaceutical clients should be handled with precision thus understanding their schedules and interacting at the right moment increases the chance of making the sale.

Laser focus

One benefit of having an intelligent voice-to-CRM system is the amount of time you save – which can then be repurposed for sales activities. Reps will have more time to focus on selling by freeing them from data input duties. All the freed up time can be used creatively to get a bigger slice of that pharma pie.

You will not believe how diverse accounts would be and each will have its own strategy to close. Getting all your points in line fast and efficient will give you that edge in closing that sale from your competition.

The sheer size of the pharma industry cannot be taken lightly. Taking advantage of the latest trends in CRM technology will at least give you a chance to keep abreast with your competitors. Get with the times and take advantage of what technology and services available to you to be able to perform better in the highly competitive pharma industry.