Weekly Newsletter - 10.16.2024

RSV Vaccine Sales Decline as Target Age Group Narrows

Editor’s Pick 🌟

Sales is changing fast, and Hive Perform is at the forefront of this evolution. At the recent Innovate to Win: Sales Enablement Summit, industry leaders shared their two cents on what's working (and what's not) in today's sales world.

We’re bringing fresh takeaways from the summit:

◾ Perhaps the most sobering statistic shared was that only 20% of sales reps are hitting their quotas in 2024.

Tom Lavery, CEO of Jiminny, noted that 60-70% of the buying process occurs without salespeople, emphasizing the importance of adapting sales approaches.

Kelly Hagerty from G2 stressed the significance of buyer intent data, with over 56% of organizations having purchased AI platforms in the last quarter.

Forget the lone wolf approach. The future of sales focuses on building resilient, adaptable teams rather than individual "superhero" salespeople.

Laura Keith, CEO at Hive Perform, advocated for a human-centered design approach in sales. Her recipe? Spot real problems, test ideas, and let the data do the talking.

The summit reinforced Hive Perform's commitment to equipping sales teams with essential tools and insights for success in this evolving sales landscape.

Industry Insights 🔮

Digital solutions, like digital passports, enhance drug traceability and safety by providing visibility into the supply chain, ensuring regulatory compliance, and preventing counterfeit medications. These innovations improve patient outcomes by offering clear, comprehensive labeling and access to up-to-date information, addressing challenges in drug administration and patient comprehension.

Pharmaceutical companies are expected to see a 10-11% sales growth in Q2, with Ebitda margins improving by 110 basis points due to lower input costs. Active pharmaceutical ingredient prices have decreased by 5-15% year-on-year, contributing to this positive financial outlook.

Spoiler: It's not just about fancy tools or running a one-time training session. It’s about giving your sales team the ongoing support, resources, and coaching they need to thrive.

Think of it like a gym membership for your sales skills—you've got to keep showing up to see real results.

◾ Training alone doesn’t fix everything

◾ Tech is cool - human coaching is crucial

◾ Sales enablement is for EVERYONE, not just newbies

The goal? Closing better deals, faster.

Read more, comment, repost, Hive Perform wants to hear from you.

Industry News 👩‍⚕️

GSK and Pfizer's RSV vaccine sales in the U.S. have dropped significantly due to a narrowed target age group and reduced demand. Despite this, GSK maintains market leadership. The decline is attributed to regulatory changes and decreased patient eligibility, impacting both companies' sales forecasts.

Spry Therapeutics, a SaaS startup, secured $15 million to expand its services in the U.S. healthcare market. The funding, led by Flourish Ventures, will enhance sales and support teams, targeting physical therapy clinics. Spry aims to streamline operations and improve patient care through its integrated software solutions.

Tevogen Bio, a biotech firm, plans to reveal its $1 billion revenue potential, showcasing its innovative drug development model. The company focuses on T cell therapeutics for infectious diseases and cancers. Tevogen's strategy aims to address major health issues, promising sustainable medical innovation and strong business fundamentals.

Sales Intelligence is a Contentive publication in the Sales & Marketing division