The global medical device market exceeds $400 billion and predictions suggest it could exceed $600 within a few years. A market that big offer considerable opportunities for salespeople
Of course, nothing is ever as simple as that. You can’t import the techniques that work in car sales and expect to do well. Most people have a basic working knowledge of cars and may even walk onto a lot knowing what they want to buy. With medical equipment sales, you might end up selling a completely new piece of equipment.
That means selling medical equipment poses some unique challenges. Want a leg up? Keep reading for five tips for selling medical devices in the healthcare industry.
1. Understand the Market
The Covid pandemic does and will continue to overshadow everything else in healthcare until it winds down. Among other things, that means that many hospitals canceled elective procedures. Something a lot of elective procedures have in common is that they’re performed laparoscopically.
That means you can expect a somewhat weak laparoscopic devices market in the near term.
2. Target the Right Places
Some hospitals perform a fairly comprehensive array of services. Some medical practices specialize intensely in a single area. Before you set foot inside a hospital or medical practice, make sure your device is relevant to their practice and patients.
You’ll waste less time and make more sales.
3. Be Direct
Medical professionals maintain hectic schedules at best. That means they won’t appreciate lengthy small talk and a lot of warming up to the topic. Keep your approach professional, but also keep it direct.
Tell them what you’re selling, what it does, and how it’ll help patients. That’s the information they care about in making decisions.
4. Understand the Organization
Not every healthcare business organizes the same way, which makes healthcare sales tricker. Those differences mean you must do your research ahead of time and understand how buying happens at a given hospital or doctor’s office. You find that you must convince entire groups of people in a hospital about the product before a purchase happens.
By contrast, you might sell the product with a single conversation at a private medical practice.
5. Know the Product
Know the product so well you are an expert. You need that level of expertise because the people you talk to will be experts in using these kinds of products. To convince your listeners, you must know how and why the product delivers better results than a competitor’s product.
Selling Medical Devices Effectively
Selling medical devices effectively means understanding how healthcare sales differ from other kinds of sales. With most sales, you’ll deal with generally similar customers looking for generally similar things.
With medical devices, you might deal with a dozen hospitals and six private practices that all deal with buying a different way. You must know how each one does business and adapt to those realities.
Beyond that, don’t go hard into the small talk. Provide professional, but direct talk about the product. Make sure you know the product inside and out.
Looking for more sales tips? Check out the posts in our business section.