Strategizing Multichannel Engagement: A Guide for Sales Representatives in the Healthcare Industry

Introduction

As an Omnichannel Sales Representative, market analysis plays a foundational role in your daily activities. By its core definition, market analysis is the process of evaluating the intricacies and dynamics of a specific market to understand its trends, competitive landscape, and customer preferences. This analysis enables an Omnichannel Sales Representative to tailor strategies to the nuanced needs of healthcare professionals (HCPs) and the market, leveraging both in-person and digital channels for effective communication and sales.

Key Components of Market Analysis for an Omnichannel Sales Representative:

1. Consolidation of External and Internal Data: This involves collecting and interpreting data from digital footprints, sales statistics, and HCP interactions to understand the latest market trends and demands.

2. Customer Segmentation: Identifying various groups of HCPs based on their prescribing habits, digital savviness, and preferences for communication (virtual or in-person).

3. Competitor Analysis: Gathering intelligence on competitor products and their market strategies to differentiate the unique value and science behind one’s own products.

4. Demand Forecasting: Predicting potential shifts in HCP demands based on factors like disease prevalence, treatment guidelines updates, and new research findings.

5. Digital Efficacy: Measuring the success rate of various digital platforms used for HCP interactions, and optimizing the digital touchpoints for maximum engagement and impact.

Benefits of Market Analysis:

1. Strategic Decision Making: Provides a data-driven foundation for making informed decisions about which products to promote and which channels to use for reaching HCPs.

2. Effective Communication: By knowing the HCP's preferences and market trends, Omnichannel Sales Representatives can fine-tune their messaging for clarity and impact, whether via virtual or in-person interactions.

3. Customer Satisfaction: Through a deep understanding of HCP needs and challenges, representatives can offer customized solutions, thereby enhancing the service experience and fostering loyalty.

4. Resource Optimization: Helps in allocating resources effectively—be it time, promotional materials, or digital tools—ensuring that the efforts are focused on high-opportunity areas.

5. Competitive Advantage: The insights from market analysis can reveal openings to differentiate offerings and services from competitors, positioning the product line in a unique, value-driven context.

In a role that bridges science-based discussion with patient-care outcomes through various sales channels, an Omnichannel Sales Representative relies on constant market analysis to adapt to the ever-evolving healthcare landscape, striving for excellence in HCP engagement and, ultimately, achieving business unit objectives.

KanBo: When, Why and Where to deploy as a Market analysis tool

What is KanBo?

KanBo is an integrated work coordination platform that enhances task management, project visualization, and team collaboration. Its flexible system is designed to streamline the workflows within an omnichannel sales strategy, providing real-time insights and communication capabilities.

Why?

KanBo serves as a powerful market analysis tool because it allows sales representatives to organize and interpret market data, track customer interactions, and manage sales strategies all in one place. Features such as card systems, custom fields, and shared space views enable the efficient handling of market trends, competitor analysis, and customer profiles, contributing to a more informed sales approach.

When?

KanBo should be employed whenever a sales representative needs to conduct market analysis, plan sales strategies, or coordinate with other team members. It is especially useful during the planning phase of marketing campaigns, when assessing the performance of sales efforts, and while keeping track of customer preferences and behaviors across various channels.

Where?

KanBo can be used in any location where an internet connection is available, making it ideal for omnichannel sales representatives who operate in multiple environments. Whether in office settings, remote work locations, or on the go, sales reps can access the platform via cloud or on-premises instances depending on the company’s structure and preferences.

Should an Omnichannel Sales Representative Use KanBo as a Market Analysis Tool?

Yes, an omnichannel sales representative should consider using KanBo as a market analysis tool because of its capability to consolidate and visualize vast amounts of data from different sales channels. By leveraging KanBo, representatives can:

- Monitor real-time data and sales performance across channels.

- Prioritize tasks and follow the progress of targeted sales strategies.

- Share findings and collaborate effectively with team members, regardless of their physical location.

- Keep records of customer interactions, preferences, and feedback, allowing for personalized customer journeys.

- Analyze sales funnel performance and identify potential bottlenecks or opportunities.

KanBo provides a central, accessible hub for sales representatives to execute a comprehensive market analysis, adapt to changes swiftly, and ultimately drive sales in a multi-channel retailing landscape.

How to work with KanBo as a Market analysis tool

How to Use KanBo for Market Analysis as an Omnichannel Sales Representative

Step 1: Set Up Your Market Analysis Workspace

Purpose: Centralize market research efforts and data within a dedicated workspace to maintain organization and facilitate collaboration.

Why: A dedicated workspace ensures all relevant information and tasks associated with market analysis are in one place, allowing for better focus and efficiency.

1. Create a new Workspace on KanBo named "Market Analysis."

2. Outline the objectives of the market analysis within the Workspace description.

3. Assign roles to team members who will contribute to market studies, ensuring clear responsibilities.

Step 2: Establish Folders for Market Segments

Purpose: To categorize information by specific market segments or industries of interest.

Why: Keeping information organized by segment aids in targeted analysis and helps to differentiate strategies for each market.

1. Create Folders within the "Market Analysis" Workspace, each corresponding to a market segment.

2. Label each Folder clearly with the name of the market segment or industry.

Step 3: Generate Spaces for Individual Projects

Purpose: Create spaces within each Folder for specific research projects within that market segment.

Why: Allows for detailed and compartmentalized analyses, supporting a comprehensive understanding of different facets of the segment.

1. Inside a segment Folder, add a new Space for an ongoing project, such as "Competitive Landscape Analysis" or "Customer Segmentation Study."

2. Set the privacy settings to include only team members involved in that project.

Step 4: Utilize Cards for Tasks and Research Activities

Purpose: Break down each project into actionable items and research tasks.

Why: Encourages progress tracking and task completion, which is vital for maintaining momentum in research projects.

1. For each research activity, create a Card within the relevant Space. For example, under "Customer Segmentation Study," create cards like "Data Collection" and "Customer Interviews."

2. Fill out Card details with objectives, deadlines, and assign a Responsible Person and Co-Workers.

Step 5: Monitor and Discuss Market Trends

Purpose: Use Cards to track evolving market trends and store relevant discussions.

Why: Keeping abreast of market trends ensures timely reactions and adaptive strategies, crucial for staying competitive.

1. Set up a Card named "Market Trends" in each Space.

2. Use the Activity Stream to post updates on trends as they arise.

3. Discuss implications of trends through comments and attach relevant reports to the Card.

Step 6: Analyze Competitor Activity

Purpose: Continuously track competitors' actions to identify opportunities and threats.

Why: Understanding what competitors are doing allows for strategic positioning and informed decision-making.

1. Create Cards for each key competitor within the "Competitive Landscape Analysis" Space.

2. Update these cards with new intelligence, pressures on market share, and strategy updates.

Step 7: Synthesize Data and Generate Insights

Purpose: Aggregate data collected and generate actionable business insights.

Why: Combining data from various sources and interpreting it correctly helps in formulating effective market strategies.

1. Create a Card titled "Data Synthesis" within each project Space.

2. Collect data from Cards and create visualizations using KanBo’s document and reporting tools.

3. Discuss findings within the card, building a collective understanding.

Step 8: Collaborate for Decision-Making

Purpose: Harness the collaborative features of KanBo to arrive at consensus-driven strategic decisions.

Why: Collaboration ensures that decisions are informed by multiple perspectives and have collective buy-in.

1. Schedule meetings directly from KanBo to review analysis findings and form strategies.

2. Use Cards to prepare meeting agendas and store minutes and action items post-meeting.

Step 9: Track Progress and Outcomes

Purpose: Visualize progress in market analysis activities and outcomes of implemented strategies.

Why: Tracking ensures you can measure effectiveness, learn from results, and iterate for continual improvement.

1. Create a Card for each strategy implemented based on market analysis.

2. Use Card statuses to provide visual cues of progress towards objectives.

3. Analyze results and attach reports to measure effectiveness and ROI.

Step 10: Adapt and Refine Strategies

Purpose: Continuously refine market strategies based on ongoing analysis and market feedback.

Why: Markets are dynamic, and strategies must evolve in response to new data, trends, and competitive activities.

1. In the Space for each market segment, set up a “Strategy Review” Card.

2. Periodically update the Card with insights from the market and propose strategic refinements.

3. Use the Activity Stream to discuss these adjustments with the team, ensuring a cycle of continuous improvement.

By effectively employing KanBo for market analysis, an omnichannel sales representative can efficiently coordinate research efforts, analyze trends, and adapt strategies to meet the changing dynamics of the market.

Glossary and terms

Sure, here is a glossary with explanations for various terms:

Market Analysis: The examination and evaluation of a particular market within an industry. It assesses the market's size, segmentation, customer preferences, competition, and potential for new products or services.

Workspace: In a digital tool context, a workspace is a virtual area that facilitates collaboration and organization for teams working on a specific project or within a particular domain.

Space: Usually a subset within a workspace, a space groups related tasks, discussions, and files, often representing a particular project, team, or topic.

Card: In project management software, a card represents an individual task or item that can be moved through various stages within a space. Cards typically include descriptions, comments, attachments, and can be assigned to team members.

Card Details: Specific information provided on a card that further defines its purpose, characteristics, and associations, including deadlines, responsibilities, statuses, and relationships to other tasks.

Card Relation: The linkage between cards that signifies their interdependence. These relationships may dictate the sequence in which tasks are completed and can reflect a hierarchy such as parent-child or precedence.

Card Activity Stream: A chronological record of all actions and updates related to a card. It documents changes, comments, and progress updates, offering transparency and history tracking for the task or item.

Card Documents: Attachments or files that are directly linked to a card. These can include reports, images, spreadsheets, or any relevant document that pertains to the task at hand.

Responsible Person: An individual assigned to oversee and be accountable for the completion of a task or card. This person is typically the main point of contact for updates and inquiries regarding the card.

Co-Worker: A team member who is involved in working on a task. Multiple co-workers can contribute to tasks in various capacities.

Card Status: Indicators that show the phase or condition of a task, such as "Pending," "In Progress," or "Completed." These statuses assist in managing workflow and tracking progress.

Custom Fields: User-defined fields that can be added to cards to provide additional categorization or information that is specific to the needs of the team or project.

Shared Space View: A perspective or layout of a space that is accessible and commonly viewed by all members of that space, ensuring consistency in how the information is presented and understood.