Top 3 Medical Device Sales Strategies to Grow Sales in 2021
Let’s face it: 2020 changed things for a lot of business. Sales teams that relied on meeting face to face with clients and prospects were suddenly forced to reimagine the way they did their job. Entire sales processes were upended, and while some companies faced setbacks, others simply didn’t survive. Medical device sales teams were no exception.
In this article, we give you the strategies you need to be using to grow your sales in 2021 and beyond. Keep reading to learn more!
A Well-Developed Sales Process in Use
For many companies, 2020 not only forced them to reimagine their sales experience, but it also showed sales managers the weaknesses in their overall sales process. In the spirit of keeping first things first, you need to have a well-developed foundational sales process before incorporating the strategies discussed below.
If you haven’t already, it’s worth taking a step back and analyzing your sales process, start to finish. Doing the hard work now will pay dividends for years to come by allowing your sales team to operate at higher levels for a longer period of time.
You’ll want to make sure you take the time to thoroughly analyze your sales process to address the weaknesses and make improvements. While you’re doing this, talk to your sales team to get their feedback, and the feedback they hear on a daily basis from prospects and clients. This information can make the difference between having a mediocre sales process and having a great sales process. After all, as HubSpot notes, the most important component of choosing and implementing your sales strategy is your customer.
As you invest in building a well-developed sales process, you can work in the appropriate strategies into your sales process and put them to use.
3 Medical Device Sales Strategies for Growth
A sales strategy is defined as a documented plan for selling your product or service to potential clients in a way that differentiates your offering from your competitors.
Within your sales organization, a sales strategy is meant to provide clear guidance to your sales representatives. This helps them communicate clearly both internally and externally and keeps the sales team on the same page.
In its simplest form, a sales strategy exists to make sure your salespeople hit their goals, and that your business as a whole grows.
There’s plenty of information on the internet about sales strategies, but they all start to sound the same after a while. For example, if you search for “sales strategy” on Inc.com, you will get over 12,770 results! Unfortunately, a lot of good information gets drowned out by all the noise. That’s why we’ve provided the top three medical device sales strategies that you probably haven’t heard of below.
1. Study Your Competition That is Crushing It
Whether you are the leader in your industry, or just getting started, there is a lot that can be learned by studying your competition. Industry “leaders” being replaced by new startups happens more now than ever. They don’t simply get unseated as the leader. The new startup has to be doing something remarkable to accomplish that.
And at the same time, in other industries, the leaders have created such a competitive advantage, new ventures have no chance at unseating them.
The point here is that you can always learn something by studying your competition, both big and small.
The reality is that 2020 shook up a lot of things. Some companies adjusted better than others, and some sales teams adapted better than others. If you feel your sales team is still missing something, or that your sales process is weak, start by studying your competitors that are gaining market share. One of the easiest ways is to simply shop their product or offer.
2. Ask Your Customers & Prospects How 2020 Affected Business
By now, it’s no surprise that 2020 brought many challenges for just about every business. Everyone is already thinking about it, and honestly, it’s probably one of the easiest things to talk about right now. But it’s not just about small talk and breaking the ice.
It’s likely that your customers and prospects will actually reveal to you their biggest challenges right now.
As any great salesperson knows, this provides you the opportunity to uniquely position your product or service to solve those challenges for their business. Do not overlook this!
For example, here at Infuse, we help medical device sales organizations by providing them with the technology and resources to increase sales. We offer solutions such as app development, including sales enablement apps, video production and animation. As we’ve had these conversations with our customers and found out what their current challenges are, it has provided us the opportunity to introduce additional services that solve their needs. We get to serve our customers at a higher level and still grow our revenue.
3. Use 3D Animation to Show, Not Tell
With more sales meetings happening remotely, it’s never been more important to make sure your sales teams are equipped to be able to show customers and prospects what your products and services offer. It helps that more and more organizations and people are getting comfortable with video conferencing solutions like Zoom, Google Hangouts and Microsoft Teams.
This means that you can shift what would traditionally be a sales call over the phone to a video conference. You then have the opportunity to use technology to your advantage and actually show your customers your solutions, rather than simply having to tell them about them.
We all know the old saying, “a picture is worth a thousand words.” So how much would a 3D animation that shows your medical device in detail and clearly explains what’s in it for your prospects, including the end result, be worth to your business?
How many more deals do you think your sales team could close in the current environment if they had a powerful 3D animation as part of their sales strategy?
We recently shared how 3D medical animation helps sell medical devices and we invite you to read that article to learn more.
Find the Right Partners
We hope you found the three strategies above helpful and identified ways to grow your sales in 2021.
Unfortunately, it’s not always possible to implement every strategy or great idea right away. Often times, businesses find themselves and their employees already stretched thin as they try to maximize the output of every employee. A common solution to this problem is to identify the right partners to help develop and implement strategies to take your business to the next level.
If you find yourself in this situation and are looking for a strategic partner to help you grow your medical device sales in 2021 and beyond, please simply reach out to us. We look forward to helping your business grow!