STRATEGIC ACCOUNT SALES
CASE STUDY 4: Institutional pharmacy builds strategic account sales team
Situation
A national provider of institutional pharmacy services was struggling
to penetrate the upper segment of its potential customer base. Most
of the larger customers in the industry were under long-term contracts
with other national competitors.
Solution
A formal, cross-functional group, called SALT (Strategic Account Leadership
Team) was put together to improve the company's success with current
strategic opportunities, and to enhance its long-term position with
accounts coming off contract in coming years. The team focused on identifying
all points of decision-making and –influencing within complex and decentralized
customer organizations, building unique service offerings to meet needs
particular to this group of customers, and creating innovative communication
events.
Results
Activities from SALT resulted in $10 million in new annual revenue
produced in the program's first five months. In addition, the company
was able to penetrate ancillary business from some of the largest customers
in the industry, and is in an advantaged position for winning several
of the accounts coming off contracts with competitors.
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