Creation of Mega Brand
We have many tools in SFE to make a Brand big.
We have customer-centric approach like customer coverage as per the potential of the business, along with “know your customer”.
We have the right incentives and appraisals.
Aligning your front-line employees’ territories, as per best reach to your customers.
The next big thing is the brand-level plan and execution.
Brand coverage, Brand priority sequence, and Brand Exposure time to create the mega-brand.
Brand Coverage.
Requirements- reporting of each customer call with brand details. It is good if reporting is done through an online reporting app, it is preferable, that product detailing is done with the digital tools available in reporting platforms.
What is Brand coverage – We calculate customer coverage, and we can calculate Brand coverage as per set parameters.
Most of the pharmaceutical companies have multi-speciality portfolios.
They lose concentration over creating mega brands.
They need to target specific speciality for a particular Brand.
they need to check actual Brand coverage.
Set KPIs to track.
Do course correction in actual as per plan to pinpoint target speciality.
Like- some companies have multi-speciality portfolios like Orthopaedic or Dermatology, and the brand is detailed to many specialities. This can be corrected by knowing where actual product detailing is done.
Set the target speciality and set KPI, use incentives to achieve the right coverage. You can see your brand is gaining momentum.
After brand coverage, one more big sfe tool is a Brand priority, which is for the next level in Brand management.
Brand Priority Sequence.
Brand Priority sequence we can manage if we use a reporting app that can record a sequence of brand detailing, most of the reporting apps have this feature.
Essentials of Brand Priority check-
We must design a Brand sequence for speciality or for each customer . Deep you go, you reap more benefits.
PDE (Product detailing equivalent) - As you are aware, the first brand exposed will have the best attention, and then attention will reduce sequentially.
PDE Calculation
To calculate Brand priority for each brand, calculate position-wise calls with % impact and add all positions to get the actual overall impact of the brand.
We will learn while practicing that the speciality or customer-wise plan for brand priority will have a high impact on conversion, loading more brands over each point or getting more business with established brands.
Brand Exposure Time.
Time given to each brand in one call is important to get the proper attention of customers and benefit in conversion or brand loading on one point. It is important, as overexposure may impact other brands even.
We can ensure that each brand will get proper attention for the specific period.
We can get the data of actual time spent and compare it with our plan to ensure better execution.
Overall Brand exposure at the territory level or team level may decide the Brand sales.
These are some SFE practices that can help you in your Brand Plan for FY 2024. We can help you in building the right KPIs or create methods to check regularly.