In 2013, the medical devices industry saw the lowest level of early-stage funding activity for companies in over 20 years. Without even mentioning the policy and regulatory environment of the industry, the cost of developing new devices alone is enough.
The following are three ways an outsourced medical sales team helps you streamline processes while improving speed to market, growth and revenue:
1. Outsourced Sales Simplifies The Sales Process
An outsourced sales team helps you simplify the process of turning a marketing-ready lead into a sales-ready lead. The outsourced team should integrate right into your in-house team, taking care of the calls, asking prospects the right questions up front and generating a highly vetted appointment.
An outsourced sales partner should also train its staff to speak the language of your industry and tailor its services to suit your specific business needs. However, its main purpose is to bring in a science for bridging marketing and sales, making that process not only efficient but also highly effective.
2. Outsourced Sales Improves Speed To Market
Getting a new medical device to the market faster allows you to start raking in the revenue faster so you’re recovering costs and making a profit sooner. However, if you keep all of your sales processes in-house, you have costly issues surrounding turnover as well as hiring and training new employees, not to mention the time lost with each failure to launch.
In terms of keeping up with constant change, an outsourced sales team helps your medical device company stay in step with the current technology market. An outsourced sales team is capable of ramping up in 45 days and contributing to revenue generation right away.
3. Outsourced Sales Is Adaptive And Flexible
When you need to bring a new medical device to market or implement a process change, an outsourced sales team is highly scalable and adaptive in introducing these changes in 30 days. By taking a proactive approach to make quick adjustments, devices are launched in a timely manner and results (revenue) are reached faster.
In fact, an outsourcer that streamlines your sales process is able to help your sales department see 50% in cost savings, enabling your medical device company to continue focusing on innovation.
If you’re in the medical devices industry, you don’t need some blog to tell you all about the barriers you face to innovation, especially since there’s no way around the cost of innovation.
You need sound solutions for your sales team to free up cash for future projects, while also making the most from your current products out in the marketplace. Outsourced sales has become a solution for many companies.
View this video of an outsourced sales success story and imagine how Invenio can help you.