Marketing Strategies for Successful Medical Device Sales
Medical devices are devices that are used to diagnose, cure, and prevent diseases or injuries. They can be used by a doctor or by an individual at home.
Some of the most common types of medical devices are blood pressure monitors, thermometers, and stethoscopes.
Some of the more popular brands include Omron, Braun and Philips.
What are Medical Devices Company?
Medical device companies are those that have a strong focus on the medical industry. They are typically involved in the development of products and equipment for hospitals, clinics, and other healthcare providers.
These companies often get their start by working with universities or research centres to develop new technology. This is because it is difficult to get funding from investors without a proven track record or product. However, once they have developed a product, they will look for private investors to help them grow their business.
Strategies to Increase Medical Device Sales
Establish a network of strong connections
Building a strong network of potential buyers plays a significant role in medical sales. The best way to get to know people in the medical device field is to attend conferences and seminars on the subject. Get in touch with influential decision-makers who can influence a deal.
To grow your professional network, you can also use social media, such as LinkedIn. You can use the platform to identify the key decision-makers in a company you’d like to approach.
Build long-term relationships by reconnecting with your existing network. In order to increase sales, you can reach out to your network more effectively than you can approach strangers.
Follow-up should never be missed.
Appointments with your desired contact are difficult to come by. Therefore, as soon as you have done that, make every effort to close the deal.
At least five follow-up calls are required in 80% of deals after the first meeting. A single follow-up was enough to make 44% of medical representatives quit their jobs.
In order to close a deal, you should stay in touch with your prospect and influence him subtly. Your products will stand out from the crowd if you provide your prospects with the right materials, resources, and presentations.
Follow-ups for more sales should be leveraged to push the deal through.
Make Email Marketing Work for You
Compared to Twitter or Facebook, email brings in 40 times more customers. Email plays an important role in medical sales because prospects are always busy. Clinics, hospitals, and doctors deal with patients all day long and have little time to speak with sales representatives.
During such a time, emails can be extremely useful for connecting with your potential client. They can read the email whenever they have free time, take some time to think about it and get back to you at their convenience.
Make sure the emails are personalised for maximum impact. You can also save time, increase efficiency, and convert more leads using online email automation tools and CRMs like LeadSquared.
Storytelling is the key.
A presentation only leaves a lasting impression on 5% of the audience. The stories told, however, are remembered by 63%. Do you understand why?
Storytelling has proven to be more successful when used by sales reps. The importance of statistics does not overshadow the importance of weaving them with benefits.
If a medical sales representative tells a doctor that his product can improve productivity by 20% and clinical outcomes by 15%, the statistics may not stick in his or her mind.
Storytelling is a more effective way to communicate. We offer machines that save you overhead and operational costs while increasing efficiency by 20%. Additionally, your patients will experience 15% less pain and discomfort.”
Asking for referrals is not a sign of weakness.
The majority of customers are willing to refer others. 91% of them are ready to do so. It’s even more surprising that only 11% of medical sales representatives request them!
You now know what the secret is, so ask your clients for some referrals. Even clients that did not convert can refer you to other people. Your product might be useful to someone, even if they did not find it useful themselves!
Asking for referrals directly pays off. It can’t hurt to be direct if the worst thing you get is a “no.”.
Organise webinars
More than 60% of B2B marketers use webinars as a component of their marketing strategies, according to the Content Marketing Institute. Webinars facilitate real-time interaction between you and potential customers in a way that is different from other types of marketing content. Help your marketing team educate your potential clients on relevant topics or demonstrate your product in real-time. The Q&A session at the end of the program gives you an opportunity to respond to any concerns quickly, which shortens your sales cycle.
Use LinkedIn to your advantage.
Engaging your potential customers on LinkedIn is a great way to convert them into customers. Make sure your company’s LinkedIn summary reveals exactly what value you provide to potential customers. Give the impression that you understand their problems and have a solution for them.
At the conclusion of your summary, we recommend including a Call-to-Action. To offer a complimentary consultation, you might ask prospective clients to send you an e-mail or call you. Sharing links to your blog content through LinkedIn’s feed is another way to engage customers. You should make sure to create content that is educational and demonstrates your expertise.
As a result, you will gain the trust of your leads. B2B businesses like HootSuite regularly share blog content on their LinkedIn profile. Watch out for special notifications from LinkedIn. Be sure to recognise your leads when they reach milestones in their careers, receive new job offers, or celebrate their birthdays! Keep the conversation going by personalising your message and ending with a call-to-action!
Conclusion: What type of medical device sales makes the most money
There are many medical devices that are used for different purposes. These devices are mostly sold to hospitals and doctors.
Medical device sales make the most money when they provide a service that is needed by many people.
The following medical devices have the highest revenue:
1) Aids for heart failure: $4,819,000,000
2) Arthroscopic surgery: $3,922,000,000
3) Catheters: $3,876,000,000
4) Cardiac pacemakers and defibrillators: $2,819,000,000
Frequently Asked Questions
Can you make a lot of money in medical device sales?
Medical device sales can be very lucrative, but it is important to know what you are getting into. Medical device sales is a complicated and competitive field that requires a lot of time, dedication, and persistence.
This can be very lucrative because the products are expensive and not easily accessible to everyone. The products also have a long life span with durable warranties that make them worth the investment.
It involves many different skill sets, including marketing, business development, finance, operations management, and negotiation skills. It is important for medical device sales reps to have these skills in order to succeed in this field.
How do you generate leads in medical device sales?
Medical device sales is a business that requires a lot of lead generation. This is because this industry is highly regulated, and the leads generated by medical device sales are highly sensitive.
It will require you to generate leads in order to sell your product. However, it can be difficult to generate leads for your product because of the level of regulation in this industry. There are many ways you can generate leads for your product, and these include:
– Using social media marketing
– Using an email marketing strategy
– Using PR
– Direct mail
What is the best way to promote medical products?
The best way to promote medical products is to focus on the target audience. This is because it will help you understand what they want and need from your product. It will also help you know who your competition is, what their marketing strategies are, and how they are promoting their products.
If you want to sell a medical product, then you should focus on the target audience first before anything else. This will help you understand what the target audience wants and needs from your product so that it can be beneficial for them.
