• Three Tips for Increasing Closing Rates in Healthcare Sales

    Increasing Close Rates in HealthcareSelling into the healthcare industry is a complicated process, and the industry is under constant pressure to do more with less, increase sales rates while lowering costs, and more. It may be hard work, but Invenio Solutions is here to help with three tips for Increasing Closing Rates in Healthcare Sales.

    Understand Your Customers

    Understanding your customers’ needs is all about being prepared and doing your homework. People in the healthcare industry are unusually intelligent and exceptionally busy, so it’s very important for you to know your stuff and get to the point when calling. Once you’ve got your prospect’s attention, meeting with you may not be high on their list of priorities, so it’s important to think quickly, be prepared, and have a thick skin.  When you come to a meeting with them with a well-thought-out plan in place to solve their problems with your product or service, already understand their objections, and can even anticipate their needs, you’re well on your way to making a sale in the healthcare industry.

    Also show you understand their processes by taking the time to research and map out your prospect’s purchasing hierarchy, which can vary greatly from client to client—this way you’ll eliminate annoying and unneeded questions, get to the right people faster and breeze to the close.  Implement research and documentation methods and strong sales training geared toward healthcare, then measure your close rates before and after and watch the close rate climb.

    Make Your Customers’ Lives Easier

    When you can prove you are a trustworthy partner offering excellent service and a product designed to make your customers’ lives easier, it’s easy to gain more clients in the healthcare industry.  The first way you do this is eliminating extra runaround by doing you research and being prepared, as we discussed in our first tip.  However, when you show you’re trustworthy and always do what you say you will do, this allows a customer to rely on you even if they only have time to give a verbal commitment, or allows them to sleep a little better at night knowing you’ll come through and get the job done.  In addition to anticipating problems your product or service can solve, remember your clients are people, first and foremost.  Send hand-written thank you notes.  Purchase lunch for the rest of the staff that you interact with to get your sale to the finish line.  Save them steps whenever possible. Forward them helpful articles or information, remind them of bills due or when to reorder ahead of time, and even notify them of additional products you think may help them further.  When you note things that will make your clients’ lives easier and follow up in the effort to deliver that convenience day in and day out, your close rate, as well as renewal rate, will soar.

    If You Can’t Do It Right, Hire Someone Who Can

    Look, we know finding, hiring, training and supporting an entire team of fully educated, deal-closing healthcare sales representatives is hard, and there is a lot of trial and error along the way.  One surefire way to increase close rates in healthcare sales is by outsourcing sales to professional companies that are educated in the methodology of hiring, training, and supporting highly successful healthcare sales teams—trust us here at Invenio, the cost of outsourcing will pay for itself quickly with the lessened liability, increased close rates, and shorter times for sales representatives to be up and running, closing sales deals.  The idea of outsourcing such an integral part of your business can be daunting, but we’re happy to tell you a little more about it!  To learn more, contact Invenio Solutions today.