Creating a strong healthcare marketing strategy and medical sales management process starts with understanding the goals and decision-making processes of value-conscious prospects. These insights allow you to optimize your business model and value proposition, from identifying potential markets and estimating demand to delivering effective messages.
Here are three specific healthcare sales secrets that help apply your insights and help you reach value-oriented prospects:
1. Compelling Healthcare Marketing Emphasizes Dollars And Cents
In value selling, your marketing and sales process should focus on the economic impact of your products and services. Show prospects how working with you helps them eliminate costly inefficiencies and generate an immediate, tangible return on investment.
Once you’ve developed the business case for how your products and services drive ROI, your healthcare marketing efforts should emphasize this economic argument and identify specific value elements for each individual prospect or customer.
2. In Value Selling, Proof Requires Data
Whether your prospects are competing in terms of better care, improved access, lower costs or some combination of these elements, they’re looking for proof that your solution delivers the edge they need. When it comes to providing this proof in such a complex system, analytics are key to demonstrating value.
Today’s healthcare organizations place high value on analytics competency, according to a report from the IBM Institute for Business Value, and rely on data to “create actionable insights, set their future vision, improve outcomes and reduce time to value.”
The report, “The Value of Analytics in Healthcare: From Insights to Outcomes,” draws on a survey of 130 healthcare executives from around the world. It finds that top-performing organizations use analytics far more than others for guiding strategy, product research and development, and sales and marketing. Of the top performers, 65 percent use analytics for sales and marketing, compared to only 40 percent of the other organizations in the survey.
3. Powerful, Mobile Data Tools Are A Must
To build a competitive medical sales management process around value selling, you need sophisticated technology for capturing, analyzing and managing sales data. The three essential tools for an effective sales process, according to a recent MD+DI report, include customer relationship management (CRM), master data management (MDM) and mobile technology.
A CRM system is designed to help sales teams develop more informed and engaged relationships between sales reps and customers, while “MDM provides the underlying infrastructure to help medical products companies accurately define their customers and synthesize more robust data at an actionable level.”
Mobile technology makes it possible for reps to access sales and marketing software and powerful data analytics from virtually anywhere, at any time, using a tablet, smartphone or other mobile device. This mobility aids your sales team in shifting to a new, value-selling approach, because the reps always have the information they need at their fingertips.
CRM and marketing automation software play important roles in transforming your medical sales management process. Using these tools to optimize your business model and value proposition helps your sales team become more effective and ensures a seamless experience for your prospects.
Ready to make the switch to value selling? Gain insider tips from Invenio Solutions® by downloading our free guide, Value Selling In Healthcare Sales: 6 Secrets For Success.