In today’s healthcare industry, you must adapt your medical sales strategy to focus on the necessary concept of “value selling.” That’s because hospitals and healthcare providers continue to face ever-increasing pressure to improve their quality of care while also cutting costs.
There’s also been a shift to having multiple decision-makers within a given healthcare facility. In the past, a medical device sales rep would develop personal relationships with the physician who would ultimately be making purchasing decisions.
However, our present-day medical world is heavy on technology and built on bottom lines, meaning there are more decision-makers, including hospital IT staff and the C-suite. These decision-makers want to know about return on investment (ROI). Value selling actually delivers messages of efficiency and economic value to the right people.
As a medical sales professional, you may be wondering how to use your CRM to analyze metrics or organize your information to create more insight into value selling to your medical device clients and prospects. The following are three ways to get help from your CRM platform:
1. Use Your CRM Platform To Its Fullest Potential
In the healthcare industry, you’re not just selling to one person. There are multiple stakeholders involved, so your CRM should reflect exactly who you’re selling to in the account. You want to capture detailed notes and softer data points around each decision-maker you speak with.
Really use the data storage capabilities of your CRM platform and refresh it consistently with up-to-date information on each person you speak with. In the end, closing a deal in medical sales is a consensus sale, and everyone you speak with matters.
2. Gain Insight Into The Conversion Cycles Of Your Medical Sales
Your CRM platform should host all of the critical data on your current customers and prospects, as well as any information that helps you stay on top of larger trends in the healthcare market. As the wants and needs of a customer shift and evolve, your CRM should have all the relevant information needed to help you identify changes and develop actionable solutions.
Essentially, your CRM should aid you in understanding how you’re conducting medical sales and how that measures against the pipeline. That’s why you need to look at reporting on a regular basis, revisiting changes and progress made with conversion cycles to continually drive sales and revenue.
You may also find it beneficial to enhance your CRM sales metrics by integrating other systems, such as marketing automation where within your CRM you easily see what content connects with your audience or your prospect.
3. Metrics Help You Harness Refresh Sales For Medical Equipment
Your CRM is also a historical archive for medical sales. It’s not like people buy new medical devices every year, so historical data is important and critical to keeping your medical sales database healthy.
Refresh is a huge part of medical device sales. If one of your current clients wants a refresh to medical equipment (which typically happens three to five years after an original purchase), this historical data is going to help your sales team understand how to speak to customers and provide them with the exact information they need to make a relatively quick purchasing decision.
Rather than pay for the highest-quality product, or purchase medical devices and equipment on a budget, healthcare decision-makers want to engage in value-oriented discussions with your salespeople. Your sales team’s ability to deftly illustrate the value of your product – what the ROI is projected to be – is critical to your success in medical sales.
Ready to learn more about value selling in medical device sales?