6 Keys to Selling Medical Devices & Medical Supplies
Healthcare spending hit 3.65 trillion in 2018 and shows no sign of slowing down. Medical device sales jobs will always be in high demand and you probably already know the income potential in this industry. According to MedReps, the average total compensation for medical sales reps is $149,544. While it can be a challenging field to work in, there’s potential to have a rewarding career.
To be a successful medical sales rep it takes more than just building strong relationships with the surgeons. With an ever-changing complex healthcare system, you have to be able to adapt your selling strategies to meet the demands of multiple stakeholders.
We know that it’s no small task and we want to do our part in helping you achieve your goals and be the best sales rep you can. We’ve put together six keys you need to keep in mind to successfully sell medical devices and medical supplies!
1. Effectively Demonstrate Complex Products
Gone are the days where you can capture the attention of your buyers by presenting them with printed one sheets and brochures. Not only do you run the risk of sharing outdated content, but it can be hard to effectively showcase your complex products. You need to clearly and interactively show what your product looks like in their organization, and the value in it for them. If they can’t envision your product in their hospital or facility, you’ll have a hard time closing the deal.
To get a physician or hospital administrator on your side, you need to show them your product. While it’s not practical to carry around heavy, expensive medical equipment, a powerful way to showcase your products is through medical animation, augmented reality, or virtual reality. These powerful visualizations make your complex product come to life in the minds of medical professionals. As they engage with the content, it gives them a clear picture of what it would look like in their organization and how it will benefit patients.
2. Stay Engaged, From Beginning to End
We know it’s every reps dream to have an engaged buyer from the beginning to the end of the sales cycle. But, how engaged are you as a sales rep? One of the impactful things you can do as a medical device distributor is provide constant communication, support, and guidance to your customers (and prospects). Whether it’s making frequent hospital visits, quickly responding to emails, or assisting in medical equipment implementation, you will have a higher chance of creating a rewarding relationship for both sides.
Being responsive and engaged is one of the few things you can control in the world of medical device sales. While it can be hard to juggle all your different responsibilities, it’s worth setting aside time throughout the day to respond to your customers. Work hard to follow through with whatever you say so you don’t drop the ball. These seemingly small actions add up and help you gain the trust of the decision makers!
3. Personalize the Buyer’s Journey
The purchasing power no longer resides within one person, but within rather multiple stakeholders. The purchasing committee you are selling to could include physicians, surgeons and their support staff, nurse managers, and supply managers, just to name a few. Before you step foot into the meeting, do your research as best as you can. Know the stakeholders, their job responsibilities, what procedures the doctors specialize in, and anything else you might find helpful. As you gain more knowledge about your buyers you can tweak your sales pitch to fit their needs. Throughout your conversations, make a conscious effort to get to know each person and work to build a long-lasting relationship. It’s important to keep in mind that your first meeting will most likely not end with a closed deal, so use it as a foundation that you can build upon!
4. Stay Updated on the Medtech Industry
It’s no secret that the medtech industry is always changing. As a medical device sales rep, it’s important that you stay up to date on what’s happening within the industry and that you educate yourself. Pay close attention to mergers and acquisitions, new medical device entrants, technological advancements, and healthcare legislations. As you do this you will be prepared to pivot your medical device sales strategy as needed.
5. Educate Yourself & The Stakeholders
No matter what you’re selling, a crucial part of being a sales reps is to be fully confident in your knowledge about the product. This may seem like a no-brainer but it’s arguably the most important skill needed to be a successful medical device sales rep. You need to know your product frontwards, backwards, and inside out, to efficiently sell to the stakeholders. Each person will have different questions and concerns and you need to be able to address all of them – from pricing to technical specifications, to how it will enhance treatment for patients.
This may seem daunting at first but as you do your homework and equip yourself with powerful content, you will be confident with whatever question is thrown your way. One way you can be sure you are prepared is to have a sales enablement solution, like verbTEAMS, filled with content for every buyer persona. As questions are thrown your way you can quickly pull up relevant content to help you speak to their pain points and address their concerns. Use your knowledge to your advantage and it will help nurture them through the sales funnel until they are ready to pull the trigger!
6. Focus on Their Patients
Whether you are in pharmaceutical sales or selling surgical devices, the key decision makers have the same third party in mind – their patients. They want to know how your product can help improve the way of life for their patients and what separates your offering from other medical device companies. Throughout your conversation, keep their patients at the forefront and be sure to speak on the value your product provides. If you can drive home the value your product provides to not only their organization, but also to their patients, you’ll have a greater chance of success.
Improve Your Medical Device Sales Strategy
If you are ready to take your sales strategy to the next level with powerful content and selling tools such as medical illustration, virtual reality, mobile app development, or even video production, we’ve got you covered! As an award-winning digital agency, we specialize in providing medical industries with high end digital content for marketing, sales, and training. We help turn your powerful idea into engaging sales tools. Contact us today and we’ll work together to design a perfect plan to fit your unique needs and challenges.