The story of how a leader in the healthcare industry managed to increase its sales in APAC
A large healthcare company in Asia has many potential resellers — such as drug store chains and pharmacies — across different countries for its products. The issue is that their traditional way of distribution is time-consuming and costly: sales representatives must contact and/or visit every possible retail outlet (more than 10,000 in each country), and these discussions and visits can end up being very expensive and inefficient.
They simply have no way of knowing which pharmacies they should start with or why some are doing better than others. That’s why they need to optimize and limit their list of resellers to the ones that are likely to perform the best and rank pharmacies, starting with the most promising and continuing as far as necessary.
Through our own Survey Method, we analyzed and extracted their internal sales process — in this instance, our client provided their historical data which we matched with our own data. Using this, we mapped all the possible retail outlets and all the existing distribution outlets of our client, organised by their sales history and location (population distribution, footfall density and amenities characteristics).
We also aggregated data from the national census, as well as general POI data and footfall data, in order to create a performance index applicable to any retail outlet on a national scale.
We provided insights into their sales data. On top of this we — thanks to our Market Survey — scored, ranked and clustered all existing outlets by sales potential, identifying correlations between strong sales and the reseller’s characteristics. These correlations ranged from the surrounding population to footfall patterns, such as the time of day the pedestrians were near the outlet, or which places were visited within the same day or month by the people who visited the pharmacy beforehand.
We also summarised the commercial (as well as the non-commercial) environment of the area or, simply put, the surrounding competition. In light of this, the client redefined its sales strategy by starting with the top 350 performing outlets on a list of 4000+ and saw a big sales increase on a national scale.
Perhaps most importantly though, this survey was completed in 3 months, as opposed to 8–12 months when using traditional methods, saving the client time, energy and money.
Symaps enables retailers to better understand the DNA of their locations and to better decide how to optimize their networks worldwide
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