Industry
Healthcare & Life Sciences
Company Profile
- Medical-devices manufacturer with global footprint
- ~$5bn annual sales
- Global leader in core competency
Situation and Objectives
- Sales force showed symptoms of being undersized
- Account managers and product specialists did not adequately pursue their assigned functions
- Sales force’s internal communication was suboptimal
Approach
- Conducted benchmarking to evaluate sales force size against competitors
- Identified workload requirements for each product by rep type needed to generate sales by customer segment
- Generated a new plan for deployment of rep types across territories based on product alignment, customer segmentation, and goals
- Assessed compensation structure by rep type in the context of the sales management system
Results
- Restructured sales force with additional defined roles, but maintained account manager and rep headcount
- Steeper incentive curve to increase turnover of low-performing reps, and greater incentive for high-performing reps
Impact
- Optimized sales force put product back on track to hit revenue target with sales increase of ~10%
