Pharm. Tunde Oyeniran is an astute marketing and sales professional who has continued to make bold strides in the pharmaceutical sales and marketing sector of the Nigerian economy. As the current president of the Society for Pharmaceutical Sales and Marketing of Nigeria (SPSMN), he is steadily raising a new generation of sales and marketing experts within the Nigerian pharmaceutical industry. In this exclusive interview with Patrick Iwelunmor, he discusses the value his society is bringing to the pharmacy landscape in Nigeria, along with other pertinent issues. Excerpts:
The Society for Pharmaceutical Sales and Marketing of Nigeria (SPSMN) has come to stay. What would you say has been the impact so far?
We have provided those of us practising marketing in the pharmaceutical sector with direction, a voice, and a community that didn’t truly exist before. We have raised the standards and self-esteem of junior marketers, such as medical and sales representatives.
Additionally, we have enhanced competence and knowledge across various cadres through our monthly/bimonthly SPSMN Round-Table Discussion (RTD) webinar series, where we bring in excellent practitioners and even experts from outside our industry to discuss relevant sales and marketing issues. We have even brought in expats—professionals from beyond our shores—to share current best practices in pharmaceutical sales, selling, sales management, and marketing/strategy during some editions of the RTD.
At the beginning of 2024, we also hosted the “2024 Economic and Business Environment Forecast and Analysis,” featuring a pharmacist and former pharmaceutical sales practitioner with over 15 years of banking experience as the guest speaker. The aim was to discuss, project, enlighten, and guide members and non-members on the current national economic environment and to empower them with strategies to navigate the challenges and opportunities, and to minimise the negative consequences of the current economic climate.
Do you think the Nigerian pharmaceutical industry is really benefitting from the Society’s programmes?
With all due respect to stakeholders in Nigeria’s pharmaceutical sector, the fact remains that only the sales and marketing functions generate revenue for enterprises. Therefore, anything that improves the competence, sense of self-worth and well-being, and capability of these professionals will certainly have a positive impact on the results and output of the industry.
We have specifically focused on programmes and interventions that inform members and non-members about best practices, keep them up to date on current issues affecting their work/results, and improve their competence and ethics. All of these efforts undoubtedly contribute positively to the Nigerian pharmaceutical industry.
In an era of dwindling revenues amid inflationary trends, what magic wand is your Society offering to pharmaceutical businesses to sustain their operations?
There is no magic wand in these complicated, volatile, uncertain, ambiguous, and complex business environments created by the recent, albeit necessary, economic policies of the government. These policies have not only negatively impacted revenue but have also caused the costs of selling and marketing to skyrocket. For us, this situation has diverted resources away from sales and marketing at a time when competition has become extremely fierce due to reduced disposable income, especially for healthcare spending. It has made our work more tedious and difficult. However, we know that we cannot afford to give up.
We need to double our efforts, be more efficient in managing the obviously inadequate resources provided by our companies and employers, build stronger relationships with healthcare professionals and commercial channel partners, and leverage technology to reach these individuals and establish the necessary connections. What needs to be done requires a reset for all of us—sales and marketing employees and our bosses—in terms of policies, processes, objectives, rationalisation of product lists, coverage, focus, incentives, and a relentless drive for efficiency. We suggest cost management, a focus on brand-building, intense relationship marketing, and local production where possible.
How would you rate your membership strength? Are companies showing interest?
We held our first Induction Ceremony and Investiture of Fellows in June 2023, and the next one is scheduled for 26 September this year. We expect our membership strength to increase by at least 100 per cent. We receive applications almost every day, and we are just beginning to build momentum and critical mass. SPSMN is an idea whose time has come. It can only grow from strength to strength, judging by the sectorial acceptance and the value it adds to members and the industry.
To what extent have you collaborated with the Pharmaceutical Society of Nigeria to assist in your membership drive?
Although I am a pharmacist, a significant number of our members, understandably, are not pharmacists. Therefore, we cannot rightly claim affiliation with the PSN. However, we recognise and deeply acknowledge the overarching role of the PSN as the chief stakeholder in the pharmaceutical space in this country. Whenever called upon, we will cooperate and collaborate with the PSN to enhance pharmacy practice. We also acknowledge that the patient is at the centre of healthcare service delivery, even for those of us operating at the periphery of healthcare service. In the same vein, one of our objectives is to cooperate and collaborate with regulators in this space, especially the PCN, as may be necessary and desirable in the best interests of patients and the industry.
What major plans do you have for the industry this year?
We will continue with our flagship programme, the bimonthly Round Table Discussion. Additionally, we will do more to improve the skills and competence of our members. We will offer a free “Basics of Pharmaceutical Sales Representation” course in the third quarter of 2024 for sales representatives.
Moreover, our next Induction and Investiture of Fellows, along with the maiden edition of the Pharma-Marketing Awards, is slated for 26th September 2024. This event will officially admit new members and formally install Fellows of the Society, including Honorary Fellows. Representatives, managers, leaders, and organisations that have excelled will receive awards for their performances. We will also recognise practitioners, stakeholders, and veterans who have made positive contributions to the pharma marketing space.
Many pharmaceutical companies have their funds trapped in Nigeria due to the inability of their customers, especially government bodies, to make timely payments. Is your Society doing anything to help secure the release of these funds?
We are aware of the efforts of the PSN in this regard, and we understand that these efforts are yielding results. On our end, we have focused on improving our competence to prevent debts and better manage them when they occur. We have implemented tactics and strategies designed to ensure that our employers’ funds are recovered in a timely manner. I recall that one of our RTDs was devoted to this topic.
Any advice for sales and marketing professionals in the pharmaceutical industry?
As the president of the SPSMN, my advice to pharmaceutical sales and marketing practitioners is to stay agile and adaptable in these challenging times. Misdirected anger, complaints, despondency, and fear will be of no help whatsoever. Keep moving forward. Focus on optimising costs by identifying and eliminating non-essential expenses.
With the recent 250 per cent increase in fuel prices, efficient resource management is crucial. Sales representatives should quickly adapt by leveraging digital tools to maintain and build relationships with healthcare professionals. Sales managers should streamline their teams’ activities to improve efficiency, emphasising key skills and increasing supervision to ensure productivity. The Pareto principle should be fully deployed by identifying the vital few and serving them with intensity, using 60-80 per cent of your resources.
Marketing strategists need to drive aggressive demand generation, awareness creation, shelf presence, and access, among other things. Communicate the value of your products clearly and empathetically, ensuring that healthcare professionals—and in the case of OTC products, end consumers—understand their importance. This is also a time for creativity and guerrilla marketing strategies and tactics. Together, by focusing on these controllable aspects, we can successfully navigate these challenging times.
