2022 is a Year of Resilience and Strong Customer Service. Be Warned.
“We should see an exceptional level of activity across all sectors in 2022 as companies look to further their growth agenda. Biotech and smaller medical device deals should continue in the first half of the year, with the second half poised for larger deals driven by a need for scale and an expected settling of the regulatory landscape.”
— Glenn Hunzinger, US Pharmaceutical & Life Sciences Consulting Solutions Leader, PwC US
When I field questions in my pharmaceutical sales motivational addresses, I like to ask pharma reps: What is your level of resilience this year? How open are you to change in 2022? How will you meet each day? Because, like it or not, you will be affected. And, sometimes those changes could be huge.
Be determined to take action
In 2022, mergers and acquisitions are projected to be at record levels. Not only are the numbers astronomical with anticipated deals from $5 billion to $50 billion or more, but many pharma conglomerates are looking to widen their product lines into non-pharma areas. The level of M&A activity will clearly be back to re-pandemic levels.
For pharma sales reps and their teams, nothing is certain in 2022 except for one thing: those reps who lack in determination to study, learn, commit their energy to customer service, adjust to a more digital experience, educate more and talk less, will most certainly get lost in the shuffle.
Flexibility will be key. Having the motivation and the mindset to do what it takes to stay ahead of the competition will be key no matter what your company is going through.
There can be no excuse when it comes to delivering customer service. Your customers won’t accept excuses such as “Doctor, our company is going through a merger, I didn’t have time to research your question.”
In remaining resilient, remember that all of us, whether we are in pharma sales, OTC sales, manufacturing, veterinary product sales, dental supplies or any other aspect of healthcare are strongly influenced by a more generalized customer service experience. Your customers will be demanding more this year than ever before. We cannot assume healthcare providers and their institutions are somehow removed from the experiences they all share in other aspects of their lives. Your customers will remember poor customer service and they will champion great customer service.
Business writer Milica Arsenovic (January 2022) compiled a list of customer service statistics that were found in 2021 across all fields. Among the top findings:
- 91% of customers will make another purchase if they experience excellent customer service.
- 96% of customers will leave a brand if the customer service is bad.
- 40% of US customers stopped doing business with a brand because of bad customer service.
- 62% of marketers are oriented towards personalizing customer services.
- Personalized customer services can improve conversion rates by roughly 8%.
Ultimately, whether your company merges, is acquired, expands to non-pharma areas, launches new products or alters existing products, it is up to you to be resilient enough to meet the demands of your customer.
Don’t assume stability this year; assume change, but also be optimistic that if you “meet your customer” on a determined and proactive level, you will win.
Scott Burrows, Pharmaceutical Sales Keynote Motivational Speaker is available for in-person or virtual presentations. Please contact him today at his office: 520 – 548 – 1169, or through this website.