Sales Coaching Software for Your Pharmaceutical Business

Not too long ago, 'sales coaching' meant sales managers sitting down with sales reps and telling them what to say to close more deals. Well, you'll be pleased to hear those days are long gone, and sales coaching has come a long way. Today, you can get all the interactive tools you need to improve your customer relationships and skyrocket your sales performance without even leaving your bed.

Okay, we don't exactly recommend that, but you get the point: sales training programs are readily available. Plus, they often come in neat software packages that streamline the whole process. This software puts the power back in the hands of sales managers and sales reps, letting them analyze their fundamental sales skills, refine their sales techniques, update their sales methodology, and much, much more.

And it works, too: companies who've invested time and effort in a killer sales training program see a massive 28% higher win rate.

This kind of technology is critical for your pharmaceuticals business. After all, in an industry filled to the brim with compliance regulations and evolving standards, you need your sales teams to be in top shape at all times.

So for pharmaceuticals leaders looking to position their sales team ahead of the competition, we're breaking down everything you need to know about sales coaching software for the pharmaceuticals industry.

What exactly is sales coaching software?

Technology is at the heart of modern sales, and training programs are no different. Sales coaching software brings sales training up a level, enabling sales professionals to analyze specific data sets and pinpoint key areas for improvement with keen accuracy.

This software makes sales training super easy. That's not just because it collates everything in one place (cold calling analysis, best practices, key metrics etc), but because it incorporates emerging technologies like AI to streamline the whole training process - saving both time and money.

That's why they're so popular across multiple industries. Don't believe us? In 2023, the sales coaching software market size worldwide was over $48 billion!

Here are a few examples of popular sales coaching software options to check out:

• Salesforce
• Gong
• Mindtickle
• Fathom
• Allego

We'll explore some of these in more detail later on.

The benefits of sales coaching software for pharmaceutical businesses

Just like any industry, pharmaceuticals has a lot to gain from implementing top-tier sales coaching software into their sales training programs. Great sales coaching software can motivate your sales teams, reduce your sales cycle, and make your sales conversations more efficient.

Let's explore some of the main benefits for pharmaceutical companies.

• Improve your sales performance‍
  
  • Perhaps the most obvious benefit of integrated sales training programs is that they boost overall performance. This isn't just a marketing slogan, either: according to recent research, businesses which formalize their sales training program reach 91.2% of quota, and also see 7% higher annual revenue.

• Make compliance easier‍
  
  • The pharmaceutical industry is notorious for its regulation, and rightly so. But keeping up with regulation can take a huge amount of time and resources. Enhanced CRM and sales coaching software can make compliance much easier by keeping your whole sales team in the loop with real-time updates on one platform.

• Get data-driven insights‍
  
  • Gone are the days of lectures and seminars - this is the age of data. And data is what sets coaching software apart, allowing sales reps and sales leaders to hone in on pain points and analyze avenues for improvement with lazer-focus.

• Make training programs more efficient‍
  
  • By its nature, sales coaching software collates everything (regulation notices, company updates, metric-analysis, messaging, training materials etc) in one easy-to-reach location. What's more, it allows sales leaders to follow their sales teams' progress as they flex their sales skills. This makes for a super convenient training program.

The top sales coaching software for pharmaceutical companies

Now, we're not going to pretend that choosing a sales coaching software is easy. It's a big industry (and we mean big - remember that $48 billion stat from earlier?) and each has its own pros and cons.

But as we're talking about sales coaching software for pharmaceutical businesses, that should help us narrow down your options. After all, you want software that's going to work for you, regardless of how popular it may be in other industries.

So bearing your needs in mind, let's get stuck in.

Allego

We mentioned Allego earlier on, and now we're back to take a closer look at what makes it so great.

One of the features that makes this software so great for sales professionals, especially when sales teams are spread over large distances, is its super user-friendly mobile-first interface. For pharmaceutical sales reps, who are often on the go, having an easy, accessible training platform in their pocket is extremely useful.

What's more, Allego's video coaching feature may come in particularly handy for sales reps getting to grips with complex medical information.

And of course, the service comes equipped with simple compliance tracking capabilities, making it ideal for heavily regulated industries.

Brainshark

Brainshark is another sales coaching software packed with cool features. Its innovative readiness scorecards assess how prepared sales reps are for work in the field, and the content creation option enables the creation of engaging training content that can be easily updated as pharmaceutical products and regulations change.

Brainshark also takes compliance one step further, tracking sales reps' training certifications to ensure everyone on the sales team is up-to-date with necessary qualifications. This feature helps sales reps visualize their sales training and gives sales managers peace of mind.

Mindtickle

One word you'll see a lot when researching sales training programs is 'gamification'. That basically means making sales training courses more game-focused, thereby making them more engaging. So your sales teams may well thank you for giving Mindtickle a go.

What's more, Mindtickle offers uniquely customizable training paths so sales training can be effectively tailored to individual learners.

These features, combined with real time feedback and cutting-edge sales enablement capabilities, make Mindtickle a great option for motivating sales leaders and reps alike for long-term sales success.

SalesHood

When it comes to team learning, SalesHood is one of the best options on the market. The software's collaborative learning tools and best practice-sharing options make it ideal for the pharmaceutical industry, where standardization is key.

As with many sales coaching software, SalesHood also provides easy performance tracking (to ensure learners are on track to meet their sales training goals) and smooth content management with sleek, organized libraries.

And if you're taking on new salespeople and are looking for ways to streamline foundational sales training, why not give SalesHood's onboarding programs? They're some of the best the coaching software industry has to offer.

Showpad Coach

If you're looking for all-in-one integration solutions, Showpad Coach could be the move: the software seamlessly integrates with major CRM systems, ensuring that sales coaching efforts are aligned with overall sales strategies.

What's more, Showpad offers robust analytics and reporting tools to measure the impact of training programs and coaching sessions, so pharmaceutical leaders can keep their team performance fit for purpose at all times.

Oh, and all of this framed in engaging learning formats, too. Users can expect videos, interactive quizzes, and role-playing scenarios as part of their training journey.

Choosing the right software for your sales team

Sales coaching software has been proven to enhance the sales training of sales professionals and boost selling skills among workforces across multiple industries. Pharmaceuticals is no different. And not only will coaching software improve your sales performance, but it'll make all-important regulatory compliance and data-driven decision-making easier, too.

So it seems you're biggest decision as a business leader isn't whether or not to implement sales coaching software, but which software to choose. And with the sales technology explosion of recent years, that decision's getting harder.

We've taken a brief look at five of the very best. This gives you a good idea of what such software has to offer, but it's important for executives to look into as many options as possible and make their own decision based on the needs of their business.

If you're a business leader looking at ways to improve your sales process and ensure credible long-term sales success, why not explore the rest of the Leadium blog? There, you'll find tons of expert insights and valuable resources waiting to be discovered.