Commercial Excellence 
As we hit the halfway mark of 2024, it’s the perfect time for us commercial leaders in the life sciences industry to pause, reflect, and recalibrate. The quieter summer months offer a unique opportunity to get your strategies back on track or take them to the next level. Here’s a framework to guide your reflection and planning:
1. Honest Performance Assessment
Start by taking a hard look at your H1 performance:
- How do your actual results compare to your targets across key metrics (e.g., sales, market share, new account acquisition)?
- Which initiatives have overperformed? Which have underdelivered?
- What unexpected market shifts or competitive moves have impacted your performance?
Action step: Create a concise “H1 Performance Dashboard” highlighting wins, misses, and key learnings.
2. Market Dynamics Review
Reassess the current state of your market:
- How have customer needs evolved since January?
- What new competitive threats or opportunities have emerged?
- Are there any regulatory changes on the horizon that could impact your strategy?
Action step: Update your SWOT analysis, paying particular attention to emerging trends.
3. Resource Allocation Audit
Examine how you have been deploying your resources:
- Are your investments aligned with your highest-potential opportunities?
- Which activities are delivering the best ROI? Which are underperforming?
- Do you have the right talent in the right roles to execute your strategy?
Action step: Create a “resource reallocation plan” to optimize your investments for H2.
4. Digital Engagement Evaluation
In our increasingly digital world, assess your digital strategy:
- How effective have your digital engagement efforts been?
- Are you leveraging data and analytics effectively to drive decisions?
- What new digital capabilities do you need to develop or acquire?
Action step: Develop a “digital acceleration plan” to enhance your digital capabilities.
5. Cross-Functional Alignment Check
Evaluate the strength of your cross-functional partnerships:
- How well aligned are you with Medical Affairs, Market Access, and other relevant functions?
- Are there any cross-functional frictions hindering your commercial success?
- What opportunities exist for greater collaboration, coordination and communication?
Action step: Schedule “alignment meetings” with key cross-functional partners to strengthen collaboration, coordination and communication.
6. Team Capability Assessment
Evaluate your team’s readiness to execute your strategy:
- What new skills or knowledge does your team need to succeed in the evolving landscape?
- How engaged and motivated is your team?
- What leadership capabilities do you need to develop to drive better results?
Action step: Create individual development plans for key team members, aligned with your strategic priorities.
7. H2 Strategic Roadmap
Based on your reflections, create a clear plan for the second half of the year:
- What are your top 3-5 strategic priorities for H2?
- What specific actions will you take to address gaps and capitalize on opportunities?
- How will you measure success?
Action step: Develop a concise “H2 Strategic Playbook” to guide your team’s efforts.
Remember, strategy isn’t just about planning—it’s about execution. Use the relative calm of summer to not only refine your strategy but also to build the alignment, capabilities, and momentum needed for a strong H2 performance.
At WLH Consulting, we specialize in helping commercial leaders in life sciences optimize their strategies and drive excellence in execution. Our Commercial Excellence programs provide tools, frameworks, and coaching to help you navigate complex market dynamics and deliver superior results.
How are you using the summer months to elevate your commercial strategy? What challenges are you facing, and what opportunities do you see?
