It was a relief when it was announced in November that three viable COVID-19 vaccine options will soon be available to the public. The developments the Pharma industry have come at phenomenal speed and, whilst this is encouraging news, the sales of these vaccines bring to light an entirely new set of challenges for companies. With a huge surge in ecommerce since the start of the pandemic, companies have been experiencing peak-like volumes for months and the 2021 lockdown promises to stretch capacity even further.
The deployment of COVID-19 vaccines will prove a challenge due to the volumes required. The Indian state faces one of the world’s most formidable challenges: rolling out a Covid-19 vaccination program for 1.3 billion people. Here are some of the biggest sales funnel challenges for vaccination business during covid-19 times & how to manage it.
- Rising Above The Market Noise
Increased market competition has made selling incredibly harder. Regardless of how compelling your inbound marketing efforts are, you might still lose out to your competitors.
Solution: Outperforming the competition rests exclusively on how you differentiate your brand from others. You need to highlight your value propositions and communicate your brand offerings precisely. Build on your brand’s core competencies to attract prospects while simultaneously providing evidence of your product/service quality via case studies, testimonials, demos, etc.
- Reducing The Sales Cycle
Successful conversions can be one of the biggest sales funnel challenges that Pharma companies face. Why? Because the sales cycles are long and demanding. As such, they tend to slow down the sales cycle. And as you may know, a lengthy sales cycle typically means increased costs, uncertainty, and lead dropouts. Sometimes, it even stretches out your budget unnecessarily.
Solution: Following up on sales leads on time can prove immensely effective. To do this, you can automate the process using a CRM (Customer Relationship Management) system. Track leads behaviour and organize prospect data to nurture them proactively as they move through your sales funnel and closer towards conversion.
- Tracking Performance Metrics Accurately
Trends in today’s time change quite rapidly, meaning that tactics bringing results today may become obsolete tomorrow. In such a scenario, keeping track of your ROIs becomes vital to optimizing your sales funnel. But the question is: are your ROIs even trackable/traceable?
Solution: Before you start measuring ROIs, you must determine the KPIs (Key Performance Indicators) and goals you want to track or whether they are quantifiable. How else would you know if your efforts are paying off? You will need appropriate data to back your ROI performance and plan for your future revenue goals accordingly.
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