Area Sales Managers or ASMs in the pharmaceutical industry deal with sales, client relationships, and some operations majorly. As managers they are also tasked with various responsibilities spanning from strategic engagement to analytical insights.
In this article, we’ll take an in-depth look at the multifaceted roles that define an ASM's journey in the pharmaceutical domain.
What is the role of an Area Sales Manager in Pharma
Here are the 7 common roles and responsibilities of ASMs
- Client acquisition and customer engagement
- Monitoring pharma sales reps in their designated territory
- Analyze product performance
- Competitor analysis and monitoring
- Data-driven sales forecasting
- Team building and skill enhancement
- Inventory management
Let's dive deeper 👇
1. Client acquisition and customer engagement
Track: ASMs are responsible for tracking information about doctors, hospitals, and healthcare institutions within their designated area to be on top of their game.
Acquire: They acquire new clients by proactively engaging healthcare professionals. This involves contacting new doctors and hospitals and assigning adept pharma sales representatives to pitch their products.
Engage: They also engage with existing clients to maintain relationships for customer retention. This involves having channels for communication to gather feedback, address concerns, and understand evolving customer expectations.
By nurturing strong relationships, ASMs contribute to revenue growth and the company's reputation as a trusted partner.
2. Monitoring pharma sales reps in their designated territory
ASMs are also responsible for managing and tracking sales reps in their team or territory. Pharmaceutical sales reps are required to be in the field, and ASMs track them with medical sales tracking apps, spreadsheets, etc., and ASMs track them with medical sales tracking apps,
With remote updates and tracking locations, ASMs transform from mere managers to mentors, offering real-time guidance to train medical reps.
3. Analyze product performance
ASMs keep a tab on how the products are performing in their area. This helps them prioritize which medicine/product needs more attention and strategize.
Similarly, key performance indicators (KPIs) are closely tracked to gain insights into sales performance of medical reps. This helps in tracking sales incentives and commissions on an incentive compensation software or spreadsheet.
Read: Incentive compensation for pharma reps
This data-driven analysis guides ASM decisions, ensuring optimized sales strategies and effective management of the sales pipeline coverage.
4. Competitor analysis and monitoring
Area sales managers also guide medical representatives on how to effectively showcase the company's products and highlight the products USPs that can help them make a sale.
They also check on competitor activities to gain insights and refine sales tactics accordingly
5. Data-driven sales forecasting
The role of ASM extends to data analytics and sales forecasting. Area sales managers closely work with the marketing team to assess market conditions and evaluate a medicine's standing within the competitive landscape.
Accurate data reports enable ASMs to make informed decisions, respond to market dynamics, and streamline sales operations for maximum effectiveness.
6. Team building and skill enhancement
Area Sales Managers are responsible for building strong relationships among medical reps in their area. They initiate training sessions, workshops, and team-building activities for it.
ASMs encourage effective communication and participation among team members.
7. Inventory management
ASMs ensure a smooth supply chain by managing distributor inventory levels. This involves optimizing stock levels to ensure timely product deliveries to pharmacies, retailers, and other distribution points, ensuring uninterrupted product availability in the market.
Examples of roles and responsibilities of an area sales manager in Pharmaceutical industry
ASMs and their awesomeness
ASMs are the cornerstone of growth for pharmaceutical companies. ASMs are required to be proficient in client engagement, team building, and market insight and have analytical acumen.
As the industry continues to evolve, the role of an ASM will only become more pivotal in orchestrating the success of pharmaceutical ventures.
Frequently Asked Questions About ASM in Pharma Industry
1. What are the essential qualities and skills of an Area Sales Manager (ASM)?
An ASM should possess:
- Strong communication skills
- Sales acumen
- Commercial awareness
- Self-confidence and confidence in products
- Active listening skills
2. What determines the area covered by an Area Sales Manager?
The area coverage by an ASM is contingent on company policies. Companies may assign an ASM for a certain number of medical representatives based on factors like sales, turnover, and geographical region. Various elements influence the specific area allocated to an ASM.
3. What is the typical salary range for a Pharma Area Sales Manager in the United States?
Salary for an ASM varies based on experience and company policy. On average, the salary ranges from approximately $60,313 to $78,711 per year.
4. What distinguishes the role of a Medical Representative from an Area Sales Manager?
A Medical Representative (MR) is an entry-level position responsible for generating sales from medical practitioners.
On the other hand, an Area Sales Manager (ASM) holds a higher position overseeing multiple MRs, ASMs guide, direct, and support MRs, ensuring their sales efforts are aligned and successful.
