Does pharma truly understand KAM?

11th April 2015 |   Nick de Cent

Nick de Cent finds that pharma thought-leaders are successfully adapting KAM models to their own ecosystem.

Does pharma truly understand KAM?

Not all big accounts are key accounts. That’s one important lesson that the pharma industry has been learning the hard way. Another is that effective key account management (KAM) is more about finding effective solutions than simply flogging product in a more complex environment.

KAM has had something of a painful birth in the pharma sector. Touted as the saviour of the industry when its long-established “coverage and frequency” model became less effective in the face of increasing resistance from organisations paying for drugs (payers) and general practitioners (prescribers), KAM largely failed to live up to its initial hype because the industry didn’t fully understand the concept. In particular, it has taken pharma time to come to grips with the concept of value and to switch from a product-focused to a solutions-based approach.

Founder of the International Journal of Sales Transformation | + posts

Nick de Cent is the founder and editor-in-chief of the International Journal of Sales Transformation. A business journalist for over 35 years, he has been covering sales since the mid-1980s and has been a strong advocate of enhancing its professional status. He has freelanced for the Financial Times and edited the Sales Performance supplement in The Times. He also writes and edits extensively on behalf of corporate clients, including a Big 3 management consultancy and a top four global executive search firm.