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Evolving Trends & Technologies Altering Pharmaceutical Sales Training Strategies

Companies mentioned in this article: Best Practices, LLC

CHAPEL HILL, N.C., March 21, 2014 /PRNewswire/ -- The way that organizations train their sales reps- both new and experienced- plays a critical role in their success. In today's increasingly competitive pharmaceutical marketplace, sales organizations are under pressure to drive overall organizational success. Despite this, trends and technologies are constantly evolving and pharmaceutical companies are finding it increasingly challenging to cope with these changes and deliver exceptional services within the Sales function.

As trends continue to change, savvy leaders keep an eye on the horizon to identify and prepare for the adoption of emerging technologies that may prove appropriate for their organizations. According to research by benchmarking firm, Best Practices, LLC, many companies are embracing new technologies and are transitioning more of their training to virtual classrooms. Some organizations are even providing as much as 60% of training virtually at this point.

The report, "Pharmaceutical Sales Training Excellence: Tools, Processes & Resources That Drive Effectiveness," provides pharmaceutical leaders with metrics and insights they can use to evaluate the performance of their Sales Training organizations with industry leaders. The report also contains performance benchmarks for the size, cost, scope, content, delivery channels, lessons learned, and success drivers of leading Sales Training organizations.

Key study topics include:

    --  Sales Training Budget Trends & Management
    --  Most Utilized Types Of Sales Training Included In Formal Curriculum
    --  Collaboration Level Of Sales Training With Various Stakeholder Groups
    --  Percent Of Training Content Developed And Delivered By Internal Staff
        Vs. Vendors
    --  Technologies Used To Deliver Training
    --  Percent Of Training Outsourced To Vendors

This benchmarking research drew participation from 28 biopharmaceutical training leaders. In addition, deep-dive interviews were conducted with six participants to gather additional insights.

To access the full report, or to download a complimentary summary containing insights found in this report, click on the following link: http://www.best-in-class.com/rr1276.htm.

For more information on other recent primary research studies, contact us at 919.403.0251. For related research, visit our Best Practices, LLC website at http://www.best-in-class.com/.

ABOUT BEST PRACTICES, LLC

Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations. Best Practices, LLC believes in the profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies.

SOURCE Best Practices, LLC