Here’s a scenario: John Doe is an old school pharma sales representative who likes to print out product brochures and lug them around for his sales visits to physicians. But off late, he’s finding it increasingly difficult to connect with his clients.
Only yesterday he called ten physicians to schedule meetings. Five of them answered his call and after hearing him for two minutes, all of them declined a visit.
For the last three months, not a single physician has accepted his sales visit proposals. He doesn't understand what's wrong but worries whether his company will fire him for not meeting his sales targets, once again.
The story of Doe is fiction but the challenge it speaks of is uncannily real as many sales representatives are still attempting sales the old way in the digital age.
Modern-day healthcare professionals are tech-savvy people and pharma sales reps need to be digitally empowered to crack those sales deals. Now, there are several types of products that can help your sales team but in this article, we’ll be focusing on customer relationship management (CRM) software.
CRM software can help sales reps work faster by automating routine tasks such as client communication management and product information tracking. Further, sales reps get analytical dashboards that help them better understand their performance and sales territories, which are critical for gaining an edge over the competition.
With that said, finding the right pharmaceutical CRM software tool requires you to understand the different kinds of options available on the market. To get you started we have created a list of the best CRM software for the pharma industry (aka pharma CRM software).
Why do we call them best? It’s because tools mentioned in this article rank on GetApp’s CRM Category Leaders report (an annual ranking of top software tools) and offer these core CRM features: contact management, inventory management, and sales analytics (read the full selection methodology at the bottom).
Contact management can help a pharmaceutical sales representative become more customer-centric. Firstly, it serves as a database of customer information (names, addresses, phone numbers, etc.). Secondly, it serves as a repository of past interactions such as call recordings and call logs.
Here are some ways you can use CRM software with contact management in your pharma company:
Access customer data on multiple devices.
Collect customer data from other tools via third-party integration.
Launch or schedule calls with customers.
View call schedules and review call recordings and other interactions.
To help you find the right tool to manage these functions, we’ve created a list of the three best CRM products with contact management (listed alphabetically):
User ratings: 4.6/5
Number of reviews: 54+
EngageBay is a CRM solution and with additional marketing automation capabilities.
The tool comes with contact management features that help sales reps track customer profiles and interactions such as call history and email response rates. It offers sales reps built-in email inboxes for tracking customer emails as well as a calling facility to schedule calls, record conversations, and take notes.
Pricing info: The starting price for the CRM module of EngageBay is $7.99 per user and supports 10,000 contacts and 10,000 branded emails. The tool also offers a free version that supports 1,000 contacts and 1,000 branded emails.
Click here to read user reviews of EngageBay.
User ratings: 4.6/5
Number of reviews: 47+
FreeAgent CRM is a cloud-based CRM solution.
On the contact management side of it, the tool offers a contact repository that can be filtered by parameters such as geographies and medical practices. Additionally, there is a VoIP calling functionality that allows sales reps to call contacts using a web browser.
Pricing info: FreeAgent CRM’s paid plan starts at $25 per user per month (billed annually) and supports contact management, email integration, and a mobile app.
Click here to read user reviews of FreeAgent CRM.
User ratings: 4.7/5
Number of reviews: 449+
Freshsales is a sales CRM.
The tool's contact management functions include the ability to capture contact details from email or web forms, send emails, and call or send voicemails. It also helps in mapping customer journeys and identifying new sales opportunities.
Pricing info: The starting price for Freshsales is $12 per user per month (billed annually). It includes features such as contact management, lead scoring, and sales pipeline management.
Click here to read user reviews of Freshsales.
Inventory management is essential for pharmaceutical companies that need to track the sales of drugs and biotech. It can help your sales representatives track the availability of products (in-stock/out-of-stock) and find product information that can come in handy while performing sales presentations.
Here are some ways you can use CRM software with inventory management in your pharma company:
Build a searchable product database consisting of details such as tags, SKU codes, pricing, and additional product literature.
Track the movement of products in warehouses.
Create and track sales orders for customers.
To help you find the right tool to manage these functions, we’ve created a list of the three best CRM software with inventory management capabilities (listed alphabetically):
User ratings: 4.4/5
Number of reviews: 342+
Apptivo is a CRM solution that comes with project management and field service management modules.
The tool's inventory management capabilities include the ability to create sales orders, track product information in a centralized library, and view the status of orders.
Pricing info: The base plan of Apptivo starts at $8 per user per month (billed annually). The tool also offers a free version that supports up to three users, 500MB of storage, basic contact sharing, standard reports, and standard support.
Click here to read user reviews of Apptivo.
User ratings: 4.7/5
Number of reviews: 60+
Salesmate is a CRM solution that offers product and service management features.
The tool’s inventory management functions include the ability to create a product repository that holds details such as product name, pricing, discounts, and codes. Sales reps can use the tool to automatically configure product prices, taking any discounts into account, and track product sales reports.
Pricing info: Salesmate’s base plan starts at $8 per user per month (billed annually). The base plan does not support product and services management—these are available with the next plan that starts at $24 per user per month (billed annually).
Salesmate to read user reviews of Salesmate.
User ratings: 4.6/5
Number of reviews: 73+
SalesNOW is a sales CRM system that comes with an integrated product module.
The tool’s product module allows creating catalogs with product lists and digital brochures. Sales reps can use the module to track product prices, stock, and other specifications. Additionally, the tool automatically calculates discounts and taxes, which helps sales reps close deals faster.
Pricing info: SalesNow has only one pricing plan that costs $19.95 per user per month.
Click here to read user reviews of SalesNOW.
Sales analysis is crucial for any pharmaceutical company to gain an edge over the competitive landscape. Reports on sales velocity and revenue broken down by different sales reps, territories, and store locations can deliver invaluable insights, based on which businesses can implement new sales strategies for better growth.
Here are some ways you can use CRM software with sales analytics in your pharma company:
Extract sales performance reports on different parameters such as the territory or individual customer accounts.
View team performance dashboards to understand the activities of sales reps.
To help you find the right tool to manage these functions, we’ve created a list of the three best CRM software with sales analytics (listed alphabetically):
User ratings: 4.5/5
Number of reviews: 94+
Capsule is an online CRM system that supports sales analytics and reporting.
The tool’s sales analytics capabilities include pipeline forecasting, opportunity tracking, and team performance tracking. It gives data on metrics such as average sales values, average time to close deals, and tasks completed by sales reps to give an overall picture of sales performance.
Pricing info: The starting price for Capsule is $18 per user per month. This plan supports 50,000 contacts and 10GB storage per user, and offers activity reporting.
Click here to read user reviews of Capsule.
User ratings: 4.7/5
Number of reviews: 162+
Pipeliner CRM is a sales CRM that comes with sales performance analysis capabilities.
The tool helps generate reports on sales key performance indicators (KPIs) that allow sales managers to analyze sales velocity at different stages of a pipeline. Additionally, managers can view the sales performance broken down into different regions, teams, and individuals to understand the total opportunities created and win/loss percentages.
Pricing info: Pipeliner CRM’s base plan starts at $25 per user per month (billed annually) and comes with features such as basic sales management, tracking, and collaboration.
Click here to read user reviews of Pipeliner CRM.
User ratings: 4.7/5
Number of reviews: 114+
Salesflare is a CRM that offers insights into the sales pipeline.
The tool’s analytics capabilities help sales managers analyze sales performance via visual dashboards to track overall sales and team performance. Managers can track metrics such as total revenue earned and average deals won, and drill down into team performance.
Pricing info: Salesflare has only one plan that costs $30 per user per month (billed annually). It supports functions such as sales analytics, prospect management, and Gmail and Outlook integrations.
Click here to read user reviews of Salesflare.
To ensure that you’re making the right decisions when purchasing a CRM platform, you need to keep certain things in mind:
Demo the product: Before purchasing a tool, you will likely be given a product demo by the CRM vendor. This is the time to ask questions and clarify any doubts regarding whether the tool will suit your business needs.
Check other related tools: The available tools that can help pharma companies in marketing and selling their products are many. You should check out other solutions to ensure you’re not missing out. Here are some of the tools that can be suitable for pharmaceutical companies: sales enablement software, email marketing software, and pricing optimization software.
To identify the products listed in this article, we leveraged the GetApp CRM Category Leaders 2020 report. For each category, we eliminated products that did not have at least half of the below-mentioned features:
•For contact management: Ability to review detailed contact information, schedule a call, record a call, and review call history.
•For sales analytics: Ability to access reports like sales velocity, account-level performance information, achievement level against sales plans, and key sales metrics.
•For inventory management: Ability to perform inventory reconciliation and review inventory levels.
From this list, we selected the three products in each category with the highest ratings and at least 20 unique product reviews, as of Aug 26, 2020.