If the pharmaceutical company designates one of its clients as a key account, what criteria is it using to determine this? If this decision is based simply on financial data, then it is likely that the company’s entire account management philosophy is flawed. Look at it from the point of view of a designated key account. This client is clearly able to see if the association is based on a dollar value and is not based on strategic importance or the provision of services over and above the standard. It’s not possible to mask the true meaning of the relationship, as designated by the pharmaceutical company, regardless of the levels of interpersonal relationships at the executive levels.
The key client understands why it should be designated as “key,” whether that is purely to do with revenue levels or not or whether, as more likely, it is a product of strategic positioning as well. This client will expect a certain level of attention from the company and will be looking for leadership positioning in the industry, as part and parcel of the agreement to do business in the first place.
A relationship between a company and its client must be a two-way street. Remember that there are always options available and as such, therefore, the company must go above and beyond what would ordinarily be expected. Within the very make up of a company, all staff should be infused with this philosophy, but this can be a difficult position to achieve. A pharmaceutical consulting firm can be worth its weight in gold in these situations. Due to the amount of experience that they have built up, pharmaceutical consultants can be really knowledgeable and can even understand a client’s requirements better than the company itself. As such, the consultants can help the training of staff at all levels with regard to the intricacies necessary when dealing with clients.
For example, a client will often be looking for the company to be proactive, to be always looking for ways to improve the relationship and to help the client act on data and information that they already have. This will not necessarily directly result in an increase in revenues, and if the front-line executives are only motivated by bonuses according to revenue figures, then they may not be correctly incentivised to handle the client the right way.
It is often not as “black-and-white” as this and even the most sophisticated incentivisation scheme employed by the pharmaceutical company can fail to break down the invisible barrier to success. A lot of experience is called for in this situation and each key account must be handled carefully and with precision.
Hidden costs are often involved and the pharmaceutical company must understand that it should be very sparing in its designation of “key” account status. Senior management must be able to read between the lines and see the strategic importance of the relationship, over and above pure revenue and cost line items. These days, pharma consulting firms can help reveal these points of reason and can in certain circumstances help the company to understand that a particular client may not in fact represent the company’s best interests.
Alan Gillies is the CEO of L2L Consulting, a cutting-edge pharma consultancy firm which specialises in optimising productivity and performance within international companies by applying tailored organisational strategies.

