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Trends in Measuring and Rewarding KAM Team Performance

Product Code:
596200295
Publication Date:
November 2014
Deliverables:
Report (PPT), Questionaire (PDF) & Data Tabulations (XLS)
Price:
€675

Key account managers (KAMs) are the new face of pharma sales. Whether meeting with hospital administrators, managed care operators, private payers or supporting regionally-based accounts, KAMs build relationships. 

Trends in Measuring and Rewarding KAM Team Performance provides a unique view of KAM teamwork situations, performance measurements, incentive schemes and the value of great KAM team autonomy in terms of time and revenue. Covering three key areas, the study also offers surprising insights into KAMs’ views on qualitative versus quantitative measures and how pharma can tweak the process to deliver higher performance. The report is based on the findings of a quantitative survey with 80 KAMs who all work for companies among the top 100 pharma companies in the US, UK, France, Italy and Spain.

Measuring performance has always been critical to assessing the success of those relationships. And key to that process is discovering the value KAMs place on qualitative and quantitative measures and incentive schemes.  What do they see as the most potent performance measures, particularly to internal stakeholders?  And how can pharma not only make such measures effective and fair, but improve the whole performance review environment for KAMs?  Trends in Measuring and Rewarding KAM Team Performance answers these questions and more.

 

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Key Benefits

  • Gain insight into how KAM teams are organised and how they engage with customers
  • Understand the value KAMs place on qualitative measures over quantitative measures
  • Learn about the design and impact of various incentive schemes
  • Determine how useful performance measurements are to internal stakeholders
  • Gain expert opinion on the survey results and analysis, and key takeaways and actions that demand consideration

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Get Answers to Critical Questions

  • How do KAM strategies vary between the US and Europe?
  • What are the main factors used to reward KAMs and to what extent are these likely to drive performance higher in the future?
  • What impact do incentive schemes have on KAM behaviour?
  • What are the key methods used to gather information for internal and external measurements?
  • How do European and US KAM opinions vary on the usefulness of performance measures?
  • Where do European and US KAM opinions intersect?

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Key Features

  • Detailed charts, graphs and analysis of KAM customer engagement, team dynamics and autonomy between US and EU KAMs
  • Overview of performance measurements used to evaluate KAMs, including the top ten used in pre- and post-launch phases, their usefulness and frequency
  • Rationale behind using or eschewing incentive schemes
  • Insight into the ongoing debate over incentive scheme design and effectiveness
  • Key findings into the frequency and scope of incentive schemes

Survey Methodology & Sampling

im.jpg Interviewing methodology
Data were collected via a 10-minute Internet-based questionnaire
sd.jpg Sample distribution
A total of 80 key account managers who work in top 100 pharmaceutical companies from the US and Europe participated in this study.
fd.jpg Field dates
September 25th, 2014 – October 24, 2014
sigdiff.png Significant differences
Significant differences between US and EU at 95% confidence interval are noted by a grey ellipse
sc.jpg Screening criteria
Respondents were screened to ensure:
  • KAMs responsible for building and maintaining customer relationships; high level of engagement with hospital executives and payers, or they manage a team of KAMs
  • consider themselves KAMs or managers of a team of KAMs by the definition provided in the questionnaire

 

About FirstWord Reports

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