Challenge

There are nearly 500 pharmacies in Denmark, and estimates show that each pharmacy needs 4-6 supplier-meetings to impact sales effectively. Planning 3,000 meetings might be the ideal strategy, but probably not the most feasible way to spend resources. Instead, companies like health and hygiene product manufacturer, Reckitt Benckiser, use data to identify the most viable clients and focus their sales efforts, where it matters most.

Solution

Signum consult with Reckitt Benckiser and develops a Pharmacy Segmentation on recurring basis, to provide Reckitt Benckiser with the most detailed and market specific trends. To start, the company chooses product categories on which to base segmentation. The pre-analysis steps entails mapping of product categories, demographic considerations, and sales districts. The Pharmacy Segmentation model is then based on the specific parameters, the most common being product category turnover vs. company product turnover.

Reckitt Benckiser uses the data from Signum to identify the most viable clients and narrow down their sales efforts. In that way, the challenge of carrying out 3,000 meeting is cleverly and vastly reduced.

Results

Reckitt Benckiser’s consultants use the insights from the analysis to identify the most viable clients on pharmacy level and focus their sales efforts to match their marketing and sales strategy for multiple products during the course of a year. Segmentation results also allow the consultants to focus their conversations on the potential of a specific product or category when meeting with individual pharmacies.