Do you want to make your healthcare insurance sales more effective? No matter the industry, the realm of insurance sales
Do you work in healthcare? Are you searching for new ways to optimize your healthcare sales?
If yes, then consider incorporating healthcare sales strategies into your business’ sales process.
Healthcare sales can be quite challenging when compared to typical sales of consumer products. The field of healthcare is constantly changing. As a result, you need to adapt your sales strategies accordingly to get desired results.
In this article, we will examine and better understand some of the best healthcare sales strategies.
What Is A Sales Strategy?
A sales strategy refers to a detailed plan for positioning your product or services to customers in a unique way.
They are employed by a business to drive sales performance. A sales strategy also enhances growth and innovation by allowing your business to better penetrate existing markets.
Furthermore, sales strategies are used to provide your organization with guidance and clear objectives. Typically, they involve important information like KPIs, sales processes, buyer personas, product positioning, etc.
Why Are Sales Strategies Important In Healthcare?
In healthcare sales, your business depends upon your ability to generate and later convert sales leads. You may have a revolutionary healthcare product, but how do you make it stand out amongst many others?
As such, you should ensure your sales team is equipped with necessary strategies to thrive as healthcare sales professionals.
Using these strategies, you can easily identify which sectors of healthcare need your product the most. Moreover, you can also figure out which organizations you should target to deploy your products.
In this way, you can effectively employ healthcare sales strategies to grow your business and boost profits.
Top 10 Healthcare Sales Strategies
When operating in healthcare, there are some important strategies for selling to medical sales reps and hospitals. Let’s now look at some of the most popular healthcare sales strategies:
1) Knowing Your Customer’s Purchasing Hierarchy
When selling in healthcare, there is no ‘one-size-fits-all’ sales process. Each of your clients will have a different buying process.
Sometimes you may require to interact with only a single decision-maker when selling to a doctor/ clinic. However, in the scenario where you’re selling to a hospital, you’ll have to convince multiple people.
In fact, research has shown that there are several decision-makers in healthcare. For example, CEOs, doctors, administration, medical directors, etc. As such, it’s vital that you learn all you can about the decision-makers involved in your client’s buying process.
You can learn more about their purchasing hierarchy by talking to your current contacts. Moreover, you can also collect information from your internal organizational network.
2) Taking Your Brand To Doctors
This is a tried-and-tested technique that is still quite effective. Here, you’ll have to take your brand to specialists as well as doctors. They can then help you sell your product.
When pitching your product, avoid using traditional methods like flyers or brochures. Instead, equip your sales reps with digital devices like mobiles and tablets.
These resources allow you to use visual presentations to create more appeal. Furthermore, you can even show clients related videos and give them walkthroughs about how your product makes patients’ lives better.
3) Knowing Your Prospect’s Fiscal Calendar
When you work with healthcare organizations, it’s a good idea to consider their fiscal calendars. This is because everything is broken down by budgets in the healthcare industry.
So, by knowing more about your target organizations, you can ensure your product is accounted for.
4) Focus On Your Customer’s Customers
In healthcare sales, you may not always directly serve your end customer. The products or services that you offer hospitals will ultimately be used on patients and not doctors.
As such, the key to closing deals in healthcare sales is to focus on the customer’s customer. A hospital or doctor is highly likely to buy your product if it can make their patient’s happier.
As such, focus on patients and how the benefits of your product align with their specific needs. Keep this in mind when giving your sales pitch.
5) Consider Expanding Your Trade Show Calendar
It’s important to note that healthcare trade shows provide the perfect opportunity to meet new prospects. Moreover, they also give your business the chance to reconnect with your existing customers.
With countless trade show attendees searching for new products, they’re the perfect place to conduct new product demos.
Furthermore, trade shows help you expand your customer database. As a result, you can collect and form a more powerful email campaign list.
6) Create And Establish An Online Presence
Having a well-designed and professional website is an absolute must if you want to do well in healthcare sales.
Statistics have shown that a large percentage of healthcare administrators primarily research products and vendors online. Moreover, they also use the internet to research specific product features and compare products. Not only this, but a significant amount of decision-makers connect with vendors soon after an online search.
Not having a website in these modern times can lead to your business missing out on huge selling potential. You should create a dynamic website with good content to help customers better understand what you have to offer.
You should also make the most out of social media platforms and establish your presence there as well. With social media, you’ll be able to directly engage with clients as well as collect useful feedback.
7) Become A Product Expert
Due to the internet boom, healthcare buyers are now more well-informed. They even research and study products online pre-purchase. As a result, knowing only about your product benefits or a gist of your service isn’t enough.
Often times, healthcare decision-makers can ask very specific questions regarding your product.
In order to close the deal, you must be able to answer these. In addition to benefits, you also need to know how your product works and helps patients. Additionally, you should also be aware of how it ensures profits for your client.
Try to stay up-to-date on the latest industry publications and news to become an expert. Confidence is key. With enough knowledge alongside confidence, you’ll be able to easily convince clients and close deals.
8) Make The Most Of PPC Ads
Investing in PPC Ads helps you capitalize on people’s Google searches and those of other engines. You’ll be able to showcase your Ad at the very top of the search engine results. This in turn helps direct more traffic to your landing page/ website.
When planning your campaigns, set aside a bit of your budget for LinkedIn and Facebook advertising. Additionally, you could even advertise on medical-based platforms like WebMD – a site referenced by many patients and providers.
If you happen to be an individual practitioner, consider targeting your local customers with PPC Ads. Majority of your patients will be from your locality. Thus, it’s only logical to target that market.
9) Equip Your Sales Reps With A Mobile CRM
If you want to improve efficiency of your sales reps, a mobile CRM is the way to go. Using a mobile CRM can help your business build a highly productive sales team.
In this way, you can easily track and manage your sales activities. Moreover, you can also constantly be aware of what’s going on in the healthcare field.
Mobile CRMs help your reps work more efficiently. They’re able to access lead information remotely at any time and keep track of them. They can also suggest potential cross-selling and upselling deals to your reps based on past customer history.
For all these reasons, you should consider going for a mobile CRM like NeoDove, to optimize your business.
10) Track Your Performance
Irrespective of which strategy you choose, you must keep track of your figures and numbers. Tracking your performance allows you to measure how effective your strategies are. Furthemore, it helps you understand if using certain strategies has led to boosted sales.
In addition to this, you can get rid of ineffective strategies while replicating the working ones that bring results. You can also analyze your sales and customer data. This analysis allows you to form insights and form better healthcare sales strategies.
At first glance, healthcare sales can be a tricky field to navigate. But, employing a smart and effective sales strategy can really go a long way in helping close sales.
Healthcare sales strategies allow you to better target and understand your customers. Furthermore, they allow your business to get ahead of your competitors and be more productive.
Overall, keeping in mind our top healthcare sales strategies, you’re sure to dominate the healthcare industry and boost your profits.