By TKG’s Rachna Pawar
Conventional wisdom holds that Key Account Managers (KAMs) drive the modern pharmaceutical marketplace. With the extinction of physician-led practices, the rise of the health system administrator, and the implementation of insurance reforms and payment models, we understand that relationships create revenue – not the antiquated practice of “pharmaceutical sales.”
Yet sometimes I think we’re a little too quick to assume we all mean the same thing when we talk about key account management. If we were to gather 10 KAMs – actual frontline managers – from different pharmaceutical companies and quiz them on their jobs, we might be astonished by the results.
In some cases, KAMs are glorified regional sales reps. Their company’s infrastructure has fallen so far behind its buzzwords that while the titles have changed, the work remains one-to-one selling driven by short-term prescription-generation. In other cases, KAMs have been trained to act as effective managers but operate with little or no support. The company doesn’t invest in research, they don’t have surrogate specialists to call on and they have nothing to offer an administrator beyond their friendship and a sales sheet.
Finally, we might find one or two out of the 10 that operate as KAMs were intended: as partners to clients, sharing insights and solving complex problems through a blend of product, research, programming and services.
What’s the difference? What sets the good ones apart?
In many cases, it’s the adoption of customer-centered marketing – a new approach that emphasizes relationship-building between KAM and administrator through the delivery of tools and resources that address the full spectrum of the administrator’s needs. It recognizes that the KAM is working within a system and must deliver value relative to that system, not just an individual patient or provider. This approach offers upfront value that creates relationships and sets the context for collaboration and problem-solving.
I mean no disrespect to the hardworking KAMs who labor under adverse circumstances. And I’ve seen plenty of instances where talented KAMs overcame numerous obstacles to earn great business. But more often then not, when a KAM works without the resources afforded by a customer-centric approach to marketing, the results are disappointing.
Which brings me back to terminology. A KAM without support, without the necessary tools and research that customer-centric marketing delivers, is really just a pharmaceutical sales rep.