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Understanding the Complexities of Medical Sales

May 23, 2012 | Comments: 0 | Views: 147

With the average medical sales person earning between $138,000 and over $200,000 per year, it is no wonder that sales professionals are excited about the opportunities in the healthcare industry. Some might think this industry is just like others, as "sales is sales," but they will quickly find out this industry offers several unique challenges.

Here are a few unique complexities that sales professionals working in the healthcare industry will quickly find:

- Long sales cycles - Complex decision processes with many decision makers - Confusing budget requirements - Technical buyers that crave information

Now adding to that the buyer is often interested in the newest technology, which can lead to unpaid consulting, expensive demonstrations, and difficult negotiations.

A sales manager working with their sales force, will find it hard to forecast sales, experience numerous requests for discounting, and get frustrated with low conversion ratios. All of this can leave the owner of a small to mid-size technology company asking them self "What else can we do?"

When faced with these challenges, it takes a system that is designed to overcome these specific challenges. A system that is designed to quickly uncover the requirements, identify the key decision makers, sort the "suspects" from the prospects and allow the sales professionals not to have to rely on discounting as the primary motivating factor.

Many systems might offer these solutions, but few have the implemented them successfully in the healthcare industry. Many will claim their system will work for the healthcare industry, only to find out that it has never been tried with healthcare before and the claim "to work with healthcare sales" is more like a hope "to work with healthcare sales."

Sales forces looking to implement such a system, must only seek out those sales systems that have a proven track record in healthcare. Be sure this system includes methods to better qualify medical prospects and eliminate those that would just result in unpaid consulting. Also included should be a blueprint to get past the medical "gatekeeper" of the facilities and/or practices that would make ideal clients. Being able to do this, allows sales teams to be referred directly to the decision makers and shorten the overall sales cycle.

Identifying the right sales system for a medical sales team can take some time and effort. Patience and thorough analysis is required to find a good fit, but the end results pays great dividends. There is plenty of spending occurring in healthcare and there is no reason a well equipped sales force can't be on the receiving end of it.

Dan Philpot is a medical sales coach with over 20 years of experience in Healthcare and IT sales. He is also the founder and sales coach of a popular online healthcare networking and education community. Visit Dan's healthcare business coaching page for more insight on doing business in the medical arena.

Source: EzineArticles
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