16Dec 2023 by cesare ferrari
Holiday Season

Holiday Season

Downstream marketing, Sales, Upstream marketing
The holiday season is a hectic time for many people.  Between holiday shopping, holiday parties and holiday cooking, it can be difficult to find the time or energy to read during this busy time of the year.   This is the reason I normally take a pause during the holyday season.   This is my last article of 2023, and I would like to re-share a few posts on important topics for medical sales and marketing professionals.   Business plans I have a pragmatic position on business plans and business cases. I do not consider realistic plans and planning useless. However, before starting to write a long and detailed business plan any entrepreneur or intrapreneur should focus on building and testing the product and the business model.  I have analyzed in detail the…
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01Dec 2023 by cesare ferrari
6 Best Practices For Onboarding New Medical Distributors

6 Best Practices For Onboarding New Medical Distributors

Sales
In the previous post, I examined the importance of an effective onboarding program for new medical distributors. In this article, I will focus on six best practices to produce a successful onboarding plan.  Let’s see together what I think is important for onboarding medical distributors:     1. Prevent misalignment  There is an old saying, “Prevention is better than cure,” which is valid also for commercial partnerships. We can all agree that partnership is working together to achieve common objectives and it is fundamental to understanding each other in a business relationship. For this reason, at the onboarding or even better before the onboarding, the two partners (supplier and distributor) should be clear about their respective priorities and goals.   As a supplier, you should establish what is important to you and communicate…
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18Nov 2023 by cesare ferrari
How To Make The Best First Impression With Your New Medical Distributor

How To Make The Best First Impression With Your New Medical Distributor

Sales
Consider this: You worked hard to find and select a new commercial partner in an uncovered market. You and your new distributor invested time and resources to establish what both expect to be a long-term, profitable and fruitful commercial relationship.   All the prerequisites are fulfilled, the distribution agreement is signed, and the regulatory departments are working together in harmony to register the products.   Well... the worst thing you and your partner can do is consider the partnership well-founded and drive attention to something else.   As a supplier, you have the responsibility to help your distributor capitalize on “quick” wins in the first months of the relationship. This is why it’s necessary to show you how to make the best first impression with your new medical distributor and establish a successful…
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22Oct 2023 by cesare ferrari
Customer Orientation In The Medical Business

Customer Orientation In The Medical Business

Sales, Upstream marketing
I recently met an ex-colleague and we discussed for a couple of hours several decisions made by the management of a MedTech company that we both felt were not focused on the customer. We agreed that those decisions were evidence of putting the business needs over what was best for the customer.     For this reason, after this eye-opening conversation about how far small and medium-sized medical device companies are from being customer-centric, I decided to return to this topic.    If you follow this blog regularly you should already know that I’m a strong advocate of customer centricity and customer orientation. Read on to find my takes and solution to building a customer-centric medical business.  What is customer orientation?   Customer orientation is a business philosophy that puts the needs of the customer at the center of the…
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09Sep 2023 by cesare ferrari
The importance of cultural factors in international sales of medical devices (Part 2)

The importance of cultural factors in international sales of medical devices (Part 2)

Sales
In the last article, I suggested the importance of cultural sensitivity in international sales, adding that high-performer international sales managers are those who show essential characteristics of cultural skills and cultural sensitivity. (Read the full article here). Today I will cover a few key elements of a country’s culture that I consider fundamentals in international sales, so keep reading to find out more. Some elements of a country’s culture and their impact Language I found that language is probably the most important factor of a culture when selling in a market. Speaking the customer’s language is a clear advantage and helps to reduce common barriers. A key skill in international sales is the command of foreign languages and not only English Language.   “If I am selling to you, I…
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25Aug 2023 by cesare ferrari
The importance of cultural factors in international sales of medical devices (Part 1)

The importance of cultural factors in international sales of medical devices (Part 1)

Sales
Small and mid-size MedTech enterprises (SMEs) contemplating entering international markets will need to develop knowledge, competencies, and expertise in some areas such as cultural sensitivity. Already, some sales managers think that international selling is challenging, while others think it is somewhat easy. However, most who have tried it, see international sales as simply different and no more demanding than selling in the home market. International sales success depends on multiple factors. However, two elements can largely influence the progress of internationalization. These are the attitude and approach of the MedTech company and the personal qualities and skills of the international sales managers. Unfortunately, not every salesperson is suited to accomplish a complex task such as the management of several foreign markets. Hence, I think to properly execute the multifaced role…
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30Jun 2023 by cesare ferrari
Are Business plans useless or useful?

Are Business plans useless or useful?

Downstream marketing, Sales
In the MedTech community, there are 2 common positions regarding business plans and business cases. Some people consider business plan and business case the “compass” of the business, the new venture, or the new project. They rely on it, and they use it to evaluate business opportunities, new projects, and new ventures. Others are more skeptical regarding business plans considering them less useful and some extremists consider them totally useless. So what then is true? Let’s start with a proper definition of what a business plan and business case are. Definition of business plan and business case According to Friend and Zehle in their book Guide to Business Planning, “A business plan describes the business’s vision and objectives as well as the strategy and tactics that will be employed to…
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10Feb 2023 by cesare ferrari
7 strategies to avoid the commoditization in the MedTech business

7 strategies to avoid the commoditization in the MedTech business

Downstream marketing, Sales, Upstream marketing
In my previous post, I discussed the commoditization of medical products. How it is becoming very common and a visible threat to company profitability.  As a result of commoditization, business models that MedTech and pharma companies were able to implement in the past are becoming unsustainable. Today's post is about strategies you'll have to implement to avoid commoditization in MedTech. Strategies countering commoditization of MedTech products To begin, the ideas and the strategies to avoid commoditization presented here are not a panacea. Every company must find its way of countering commoditization's power, exploiting market knowledge and core competencies. The company facing commoditization has 2 options: compete within the trap or escape the trap. It is also possible to work on both strategies simultaneously to increase the chance of success. Compete…
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29Jan 2023 by cesare ferrari
Is your medical product becoming a commodity?

Is your medical product becoming a commodity?

Downstream marketing, Sales
Imagine this scenario.  Your product has been on the market for several years, and the competitors have copied most of its key features. Customers perceive your product and its competitors as very similar, and the price is becoming the main factor considered for buying decisions.  Moreover, your marketing efforts put in place to communicate the value proposition and brand equity seem not to be working as in the past. Does this sound familiar? Then it means there’s an ongoing commoditization of your medical product.  What is commoditization?  Merriam-Webster dictionary defines a commodity as “a good or service whose wide availability typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price,” i.e., an undifferentiated product.   According to the same source, commoditization means…
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