The pharmaceutical industry is a complex and ever-changing field with various players, including primary and secondary wholesalers, independent pharmacies, and sales representatives. In a recent conversation between Michael Solazzo, an experienced sales executive, and Mike Koelzer, they discuss the key factors that contribute to successful relationships between wholesalers and independent pharmacies.
One of the main takeaways from the conversation is the importance of warm calls in sales. According to Solazzo, building a successful relationship with customers requires asking the right questions and filling in gaps for them. He notes that secondary suppliers like his company are more flexible in pricing and working with customers to understand their buy plans.
Another key point made in the conversation is the challenge of the over-the-counter business. Solazzo acknowledges that the shipping process for these items can be a expensive for all parties, which is why the big three are the only ones that have them. The discussion also touches on the unique challenges faced by salespeople, including the risk of being a target for customer frustration, and the importance of establishing truthful relationships with customers.
The conversation also sheds light on the importance of pharmacists in the community. Solazzo notes that independent pharmacies face more pressure to interact with patients than chain pharmacies, where churning out scripts is the priority. He also emphasizes the importance of relationships and trust in the industry, and the need to shop around for better payment terms and find a secondary wholesaler that can address pain points.
Throughout the conversation, Solazzo stresses the importance of delivering value to customers and building trust-based relationships with them. He suggests that newer pharmacists may not value the relationship between sales reps and customers as much as they used to, which is a concern for the industry. The discussion also touches on the impact of unethical practices in the industry and the potential impact of new technology, including third-party platforms that can facilitate transactions and monitor compliance.
In conclusion, the conversation between Solazzo and Koelzer offers valuable insights into the complex relationships that exist between primary and secondary wholesalers and independent pharmacies. It highlights the challenges faced by salespeople on the road and the importance of delivering value to customers. The conversation also provides a glimpse into the evolving nature of the industry, with the emergence of new platforms and the need for compliance with upcoming regulations. Ultimately, building successful relationships in the pharmaceutical industry requires a focus on delivering value, building trust-based relationships, and adapting to the changing landscape of the industry.
The Business of Pharmacy Podcast™ is an interesting and entertaining weekly podcast discussion on the business of pharmacy. Hosted by Mike Koelzer, an independent pharmacist in Grand Rapids, Michigan, each episode covers a new topic relevant to pharmacists and pharmacy owners. Listen to a new episode every Monday morning.
