7 Key Tips For Boosting Sales in Healthcare
So let us assume that you sell to the healthcare industry, worried about how to boost sales of the product/service that you or your company provides. Well.. then you might be wondering: Where do I start from? Should I hire a professional or what?
These questions do demand genuine concern, after all, healthcare professionals are some of the most vital members of our society. If you want to sell to them, do take care of their unique needs.
No wonder how over the years, selling for most industries has changed relatively little as compared to how selling to hospitals and healthcare organizations has changed.
The Healthcare sector is booming at a faster rate than you can ever imagine and the necessity to manage patient care and innovate medicines has increased exponentially. With the rise in such needs, newer technologies are being adopted in the industry to escalate sales.
Flatiron Health is using data and analytics to tackle cancer, which it believes cannot be “solved” by just the healthcare community – it needs the technology industry as well.
This NYC based startup is currently using big data and its cloud-based software platform to connect cancer centers across the country. Flatiron’s key asset is its ability to source data from a multitude of sources and analyze it to make meaningful recommendations, using Data Analytics.
Flatiron Health’s annual revenues are $100-$500 million. Yes! you read it right.
So, all you really need is a smart sales and marketing strategy to conquer the healthcare industry and uplift your profit margin.
One great tip before you meet any executive in the client organization is to have a firm understanding of the hospital’s organizational structure, as well as their current financial position. How does this particular healthcare organization compare with its competitors in this specific arena? What is their current position in the industry? What makes them stand out from their competitors? What actually makes them unique?
Just like the one we discussed above, we’ve jotted down some major tips and strategies for selling to the hospitals and aligning with medical sales representatives. So, without further ado, let’s go over to the 7 key tips you can employ to skyrocket your sales and reach a wider audience!
1. Attract your target audience with content marketing
The involvement of content marketing in marketing outreach is rising, especially in service-related industries such as health care.
In a word search, health care has always been in trend, widely searched, from health care and wellness tips to jobs in health care to local medical facilities and medical professionals.
- 1 out of every 20 searches is healthcare-related
- 70 percent of hospital websites visitors come from web search
- 77 percent of all online health queries start with a search
This marketing trend further increases credibility and visibility. How? By offering health care and wellness information that people are looking for from a trusted resource. It also forges strong relationships with patients, staff, community, and prospective employees and delivers thought leadership, increasing credibility.
According to the CMI 2019 B2B Content Marketing report, 62% of B2B marketers say they have been much more or somewhat more successful with content marketing than they were a year ago.
They attribute the success of producing higher quality content more efficiently and their ability to develop or adjust their content strategy.
The healthcare industry can be highly academic, especially if you’re selling directly to physicians or high-level executives. You need to invest time in bringing out blog posts, case studies, and whitepapers that will help you dig into a topic and prove your expertise.
All you need is to generate content that positions your company as a thought leader and this can go a long way towards helping you land more sales.
2. Understand your customer better and build trust
You cannot imagine our society without healthcare professionals. Can you? So obviously, if you want to sell technology to them, you got to go out of your way to build a deep understanding of their individual requirements and needs.
Anyone can be your customer in healthcare, as it is widely available. Hence, a one-size-fits-all approach will fail to ensure the best experience for every customer. Adapt to customer needs in order to stay successful and provide great healthcare services/products.
“Demographics and psychographics are great, but the needs are better”
Furthermore, realizing healthcare clients are different than other business professionals you might sell to, is important. Always remember that healthcare professionals have many different fires to put out on any given day, and engaging sales reps are often a lower priority for them.
When you have the chance to talk to them, don’t beat around the bush. Give them information that they’re looking for, staying professional, respectful, and direct, will help you grab their attention and keep them interested.
Never get discouraged if a meeting gets cut short or rescheduled at the last minute. Stay flexible. Do whatever you can to help them solve their problems. Make sure you prioritize trust-building first and foremost at all times.
Trust is decisive to any sales process, but in the healthcare field, it’s legitimate. And why would it not be? All in all, if you sell medical equipment or pharmaceuticals, your clients are putting more than their business in your hands — they’re risking other people’s well being.
Build trust and work on a healthy relationship with your client to pull up the sales game.
3. Know the buyer’s organizational chart
While working with a small doctor’s clinic, you might just have to deal with a single decision-maker. But, when you’re selling to a big hospital, you might need to work with a buying group or a purchasing department.
One way to ensure you don’t miss anybody is simply by taking the time to map out your client’s purchasing hierarchy and identifying everybody involved in the process. Every single client in healthcare is going to have an enormously different purchasing style.
Obtain this purchasing information by querying your known contacts and networking within the organization as much as possible. Follow your clients’ organizational chart and expand your influence.
4. Focus on your client’s customers
Selling in a continually emerging, client-driven industry like healthcare is remarkably challenging, even for the most effective sales organizations. However, companies that make it through this competitive industry have the endless opportunity to rake in the profits.
A good rule of thumb when you’re dealing with any type of service-based industry is that you should try to serve your client’s customers. Essentially, if you’re able to find a way to improve their experience, your clients will be happy and you’ll have the foundation of a great relationship that is essential for the long run.
Always try to keep your focus on the actual patients, whenever dealing with a healthcare client. Ask yourself: What benefits can I provide to ensure that they receive better, quicker, or more cost-effective care?
This line of thought can help you win more sales and earn more business right away, irrespective of whether you’re in healthcare or any other service-driven industry.
5. Get started with Social media marketing
This one should be fairly obvious, social media has become an amenity for nearly every adult in the modern world. There is no easier way to start expanding your clientele than to promote your product/service on a platform that nearly everyone uses.
Facebook, for example, is possibly the best social media platform for getting more patients as it’s now being used by nearly every age group – especially seniors who are more likely to need some sort of medical assistance. A great place to start your social media advertising is to create a Facebook page, an informational source that can increase target traffic to your website.
With higher access to information than ever before, medical professionals, these days, are less reliant on salespeople and more likely to conduct thorough online research on their own before making a purchasing decision.
Social media marketing can help you thrive while selling in the healthcare industry and be on the top of your sales game at all times.
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6. Choose the Account-Based Approach
Just as Radiologists may have different concerns than CIO’s. You need to demonstrate the benefits of your product, tailoring your approach to the person you’re speaking to.
Account-Based approach can help you out here and make the number of sales you make a surge.
- Begin with identifying target departments within a large organization.
- Delegate responsibility for communicating with different stakeholders to different members of the sales team according to each individual’s strengths and expertise.
- Work together with the marketing team to layer on broader thought-leadership “air cover” when needed, to keep a sales cycle moving.
You need to be a consultant rather than a sales representative, in healthcare. And because this is healthcare, you need to present evidence-based research which is facilitated by using the Account-Based approach.
7. Adopt AI and Big Data Analytics
Big data analytics and AI can offer innovative solutions for many of healthcare’s most pressing issues.
Big data analytics in medicine and healthcare integrates analysis of several scientific areas such as bioinformatics, medical imaging, sensor informatics, medical informatics, and health informatics.
AI has the ability to analyze big data sets – pulling together patient insights and leading to predictive analysis. Quickly obtaining patient insights helps the healthcare ecosystem discover key areas of patient care that require improvement. Other applications include Health Monitoring, Health Care System Analysis, virtual nurses, maintaining medical records, digital consultation, and more.
“As data volumes and data sources proliferate at greater and greater rates, companies have accelerated their investment in Big data and AI initiatives,” one report concluded.
Eighty percent of healthcare executives reported that their organizations are accelerating investments in big data analytics and artificial intelligence (AI), citing disruptive forces and industry competitors as major motivators for increased spending.
Big data and artificial intelligence can enable capabilities that hold the potential for companies to reach new customers and better serve the customers they have – if deployed creatively, wisely, and effectively.
Wrapping Up :
Rapidly evolving market dynamics, regulatory forces, and consumer demands are continuously adding new layers of complexity to the existing healthcare industry. Sales and marketing solutions that drive true engagement and meaningful patient action, can increase your sales by distinguishing you from the rest of the pack with data that demonstrates value to potential customers.
What are you waiting for? Ace your sales game with these 7 tips and strategies. Our B2B Sales and Marketing firm can help you boost traffic, expand influence, and build more credibility in the healthcare.
Nobody likes to be “sold.” But there’s no “selling” in communicating how your products and services deliver needed benefits to your clients.