A pharmaceutical company’s clients can exercise a choice in their selection of business partners, should they wish and as such may look for a definitive type of relationship in return for their patronage. Therefore, the pharmaceutical company must really comprehend the value that the business of that strategic account imparts and must realise that when it designates “key account” status, a certain level of quality control should ensue and measurable results be expected.
Key account management must be dynamic and not something that can be assessed and reviewed at some point in the future. Much attention must be paid to this management and while different staff members may approach their engagement from different points of view, the overall goal must always be kept in perspective – ensuring that the client and its senior management are happy with what they receive.
Clients are often “turned off” by a failure to recognise the importance of key account management and by an inability of the organisation to step up to the plate. For example, the key account wants the pharmaceutical company to be impactive and not just to be visible, to be proactive and not reactive. It’s important for the client to see that the company is acting in its best interests and, most especially in this field, keeping abreast of developments within the industry.
Sometimes, the client will be expecting the pharmaceutical company to be involved in the development of strategies. While there can be many different levels of key account designation and there can and should be variations across client levels, the pharmaceutical company must ensure that its staff at all levels are trained to recognise particular needs. A company must get to know the client first hand and in many respects this does not necessarily mean at the social level either. For example, the company may want to send some of its appropriate staff into the field to work directly with the client and should remember that this can also help to provide an element of in-depth knowledge about the client, intelligence which could be used in the future.
In certain circumstances, the pharmaceutical company may want to perform some work for the client at no charge and this should be assessed at individual level, again showing the need for each client to be treated separately. There is no such thing as a stock approach to key account management and pharmaceutical consulting firms should be engaged to help educate all levels of staff in the finer subtleties of these arrangements.
When it comes to the release of information that could be seen as proprietary, pharmaceutical companies may find themselves in a difficult or delicate position. In this kind of business, information can be very powerful and while the client may be looking for added “value” from the company through the passing of information, this element is best handled at the senior vice presidential level, in consultation with the company’s pharma consulting firm.
In most cases, pharmaceutical consultants are best placed to help the company over deliver and to be seen as going above and beyond the norm at all times. If the key account truly is key, all the way down to the bottom line, then a fruitful relationship for the future can be assured.
Alan Gillies is the CEO of L2L Consulting, a cutting-edge pharma consultancy firm which specialises in optimising productivity and performance within international companies by applying tailored organisational strategies.
