• Medical Equipment Sales: Leave Relationship Selling In The Past

    Building relationships with doctors and healthcare institutions may once have been a sound strategy for medical equipment sales, but the times have changed. In today’s healthcare industry, value selling is replacing relationship selling, and prospects expect to see that value demonstrated in terms of hard data.

    For medical equipment sales, a strong value proposition is key to getting the attention of a doctor, according to an article published by Healthcare Success, a healthcare marketing firm.

    Doctors are incredibly busy, difficult to reach and “protected by the most aggressive receptionists on the planet.” To win their attention and, hopefully, their business, you need a strong offer. This offer could consist of a useful webinar or free report, as an example, but it must contain these three elements: a compelling value proposition, proof that your products and services are the right choice and solid evidence that you are a credible expert.

    Let’s look at each element in more detail:

    1. A Compelling Value Proposition
    In an increasingly competitive industry, doctors, hospitals and other healthcare institutions face rising pressure to lower costs and improve the quality of their services. As a result, hospitals and health systems are creating their own value propositions, according to an article on Sales Training Connection. They’re attempting to differentiate themselves in three areas: care, access and cost.

    For successful medical equipment sales, it’s essential that you understand the prospect’s value proposition and ensure your sales process aligns with it.

    “If a hospital adopts a specific value proposition, it is clear that what they buy, how they buy and what they are willing to pay for it all change.” As a result, your sales team needs to “understand the business and financial consequences” of a new value proposition, as well as “adapt your selling process accordingly.”

    2. Proof That Your Offer Is The Right Choice
    Whether your healthcare prospects are focused on care, access, cost or a mixture of all three, they must have proof that your solution is able to deliver the results they need. That means using analytics to demonstrate value. Today’s healthcare organizations increasingly focus 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 IBM 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. Sixty-five percent of top performers use analytics for sales and marketing, compared to 40 percent for other organizations.

    3. Display Evidence That You Are A Credible Expert
    For healthcare marketing or direct sales, it’s critical that you capture the prospect’s attention and quickly establish your credibility. Providing useful, insightful information – and backing it up with hard data – is a great way to demonstrate that your organization has the relevant expertise to help your prospects achieve their business goals.

    In the end, a value selling strategy is essential for successful medical equipment sales in today’s challenging market. Include these three elements in your offers to ensure that you’re demonstrating value to your prospects, not just relying on past relationships.

    Is your medical equipment sales cycle getting the most from your leads? Schedule a free lead generation ROI assessment with an Inveniologist™ at Invenio Solutions®.