Is our Bonus Plan Working?
This six page case study outlines an approach for setting up a bonus plan that generates excitement during a new product launch and rewards high performance while managing the risk of paying out too much. It illustrates an analytics approach to fine tune this plan over time.
Download Bonus Plan Case Study
Below are a few case study summaries illustrating previous projects:
Market Review
The Challenge:
Provide comprehensive market data to senior leadership and brand teams for strategic planning and goal setting.
The Solution:
CyCom Solutions converted third party data into custom metrics to account for multiple indications and varied product usage. To complement the picture, we compiled data from various marketing audits to assess product usage by disease type, channel, type of health care provider and provider location. In addition, we also provided data on reimbursement and promotional activity in the market. CyCom Solutions also developed customized processes for monthly tracking of key metrics.
The Benefits:
- comprehensive information to support strategic decisions
- assess competition despite disparate uses of products
- monthly tracking of market changes
- improved data accuracy
- faster turnaround of information
To see a more detailed example of the type of work involved in a Market Review, take a look at Multiple Indication Muddle.
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Product Launch Planning
The Challenge:
Identify the best geographies to launch an innovative medical device.
The Solution:
CyCom Solutions merged data from third party vendors and the U.S. government to create maps depicting potential patient volume along with locations where the device will most likely be used. We considered several factors and developed a ranking system to prioritize each geography and assist with territory design. In addition, we provided insights into the likely influence of insurance networks and identified key influencers.
CyCom Solutions also participated in strategy sessions with senior leadership to fine tune targeting criteria and to provide additional insights.
The Benefits:
- Effectively allocate sales resources
- Fine tune sales goals
- Build relationships with key decision makers
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Equitable Sales Goals
The Challenge:
Assess territory potential in a market where third party vendors were unable to provide complete sales data.
The Solution:
CyCom Solutions developed processes to integrate third party data with distributor data, while minimizing the potential for duplicating sales volume. We provided detailed documentation to client, so that ad hoc questions regarding data accuracy could be answered by Sales Operations staff. On an ongoing basis, CyCom Solutions monitored potential data issues, provided ad hoc analysis and suggested appropriate solutions when data issues arose.
The Benefits:
- More equitable and realistic sales goals
- Improved confidence in sales goals
- Better resource allocation
- Ability to answer data questions in a timely manner
- Ability to deal with data issues appropriately
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Bonus Standings and Sales Force Support
The Challenge:
Support a growing sales force with sales data, product training information and relevant news, while reducing delivery time and minimizing workload for support staff.
The Solution:
CyCom Solutions reviewed and streamlined existing processes, automated report generation, provided a content management system and integrated it with the client’s existing intranet.
The resulting sales portal allows non-technical users to create, update, archive and delete content. The portal page automatically flags new content, gives users a single point from which to access information and gives non-technical users the ability to manage “who gets to see which data.”
The Benefits:
- Reports generated and delivered more quickly
- Individual users see only information relevant to their job
- Single point of reference
- Seamless access for remote users (single login)
- Information available immediately after approval
- Improved data accuracy
- Reduced workload