The next level in MedTech sales
Medtec Forecast | Friday, November 3, 2023
This article discusses how hybrid customer engagement defines the future of MedTech sales.
Fremont, California: Pandemics and the necessary move to remote interactions have profoundly changed medical device sales. Companies in the medical technology sector have accelerated their digital transformations. They have added more roles or increased their capabilities and channels to allow for remote interactions with healthcare professionals (HCPs) and non-clinical stakeholders.
Moreover, the availability of high-quality information via digital channels has made it much easier for business buyers to obtain information themselves, implying that sellers have less access to information and less potential to influence consumer decisions. Sales managers must deliver significant value to customers using digital and omnichannel sales models supported by salespeople who can guide self-learning customers to more confident judgments.
MedTech companies now have an opportunity to leverage how buyers and sellers work by digitizing sales channels, forming hybrid sales teams, and providing customers with a truly end-to-end experience.
Digitization of sales channels
Instead of relying solely on outside sales, content and virtual communication platforms are more important in the MedTech market. This transformation allows stakeholders to make better, faster choices to improve patients and healthcare systems.
Digital marketing efforts also help sales teams save time when prospecting. Non-clinical stakeholders will require interactions, materials, and channels other than surgeons.
Administrators want smaller, simpler interactions and rely more on digital tools, but MedTech sales representatives are frequently present during proceedings. When medical device companies adopt technology solutions through partnership or acquisition, surgeons and sales representatives communicate electronically. MedTech companies are building a technology ecosystem to facilitate and support virtual sales. Companies are researching and improving other technologies alongside core conferencing capabilities, such as interactive presentation software, e-commerce platforms, virtual reality tools for consumer training, and visual aids for remote support.
Develop a high-tech sales team and multi-channel customer experience
Due to the changing dynamics of the MedTech business, organizations must move from traditional in-person and in-person sales to hybrid consumer-following sales. Companies begin the initial qualification process with inside sales, which includes setting an appointment, characterizing the account, and determining if there is a potential. Sales representatives then pursue the possibility through outside sales.
As a result, the next generation sales approach for MedTech companies will be to engage customers through in-person and remote encounters that are coordinated and seamlessly linked with digital and online channels. Deep insights into consumers’ needs, preferences and activities will guide this hybrid sales approach.
Many MedTech companies have used inside sales and digital marketing to enable multi-channel engagement and reduce selling costs. Inside Sales has been instrumental at MedTech for numerous projects, including new product launches, revamping underperforming areas and products, producing ROI from trade shows and technical reports, and developing industry expertise.
MedTech companies should review their sales procedures and models to determine how they segment and engage customers. Selling techniques are not one-size-fits-all. What works for an organization and its team is determined by various elements, including the MedTech offerings sold, their cost, and how customers evaluate their proposals.