Sales Archives - Page 4 of 5

03Jun 2022 by cesare ferrari

How To Qualify Sales Leads Pt2

Sales

Welcome back!!! If you have read my previous post, by now, you should have clear ideas about what a qualified sales lead is and the different tools available for sales lead qualification. In this second part, I will describe sales lead qualification (using BANT as a framework), and the sales rep's activities to qualify or disqualify the leads. Qualifying questions For proper sales leads qualification, you need to have a well-developed list of qualifying questions. These questions should help to obtain useful information to move the lead to the next stage of the sales funnel. I'd like to clarify that I'm not a fan of scoring systems where the sales rep has to rate, for example, from 0 to 5 the answer obtained. In my opinion, it is often too…

22May 2022 by cesare ferrari

How To Qualify Sales Leads Pt1

Sales

Suppose you want to grow your business as a medical device distributor or as a sales rep; you need to have a predictable sales pipeline. Likewise, if you are working in marketing or sales for a medical device company, one of your goals is to help your sales force build a strong pipeline. In my years in Medtech, I found out that Sales Lead Qualification is a vital process companies should use to determine which prospects are the best sales targets and is a critical part of a well-constructed sales strategy. Unfortunately, not everyone who expresses interest in your product or service is ready to purchase or will eventually purchase your product. In my opinion, lead qualification is a step that many sales organizations fail to perform effectively in the…

07May 2022 by cesare ferrari

Why Customer Centricity Is More Than Having A CRM And Using Few Customer Centric Metrics

Other, Sales

After publishing a couple of articles on what is customer centricity and how to increase customer centricity, I’ve been discussing the topic with some good friends and these conversations inspired me to write again on this subject. The subject of today's post is the difference between being a truly customer centric organization following the principles, the values of customer centricity. And using some tools like CRM (customer relationship management), to develop customer metrics and do some common practices. Is Customer Centricity Related To A CRM System? If you type in the words “customer centricity”, “customer-centric” or similar keywords in the Google search engine you will get a list of results predominantly related to CRM software systems. CRM is the software that manages data resulting from the interaction of the company…

19Mar 2022 by cesare ferrari

5 Pitfalls To Avoid In The Relationship Between Medical Device Manufacturer And Distributor

Sales

Thankfully, in this post, I already addressed the key elements for a successful manufacturer/distributor relationship (If you haven't seen it, you will find it very useful when you refer to it). Unfortunately, missing one or more key ingredients will produce some trouble and even the evolution of the relationship toward a Lose-Lose. Moreover, I have seen 5 pitfalls in the manufacturer/distributor relationship that could endanger the partnership. Although every case is different, and there are many variables to consider; identifying these areas of concern early could save the partnership. Understanding The Counterpart Business The biggest mistake that the parties, i.e manufacturers/distributors can make is to not understand the business of the partner. Hence, the manufacturer should understand the distributor's business model. In this business model, the margin plays a key…

29Jan 2022 by cesare ferrari

6 Essential Constituents Of A Successful Medical Device Manufacturer And Distributor Business Partnership

Sales

If you are working in the commercial organization of a medical device producer, one of your objectives is to establish and maintain a successful partnership manufacturer-distributor. An example of a good practice is when the manufacturer and distributor regularly examine their business relationships to determine if they are providing each other with the appropriate results, incentives, and support in order to strengthen their working relationships. What Is A Successful Manufacturer-Distributor Partnership? A successful partnership is a win-win-win situation. The manufacturer wins, the distributor wins and the customer wins. In the book “Strategic selling” Miller and Heinman, describe the four outcomes of every buy-sell situation: WIN-WIN: Both seller and the Buyer “win.” Everybody achieves what is needed, but not at the expense of the other. WIN-LOSE: The seller “wins” at the…

15Jan 2022 by cesare ferrari

Sales Leads: 2 Common Scenarios And How To Avoid Them

Sales

When talking about sales leads follow-up between the marketing and sales organization, two issues always come up. The first is sales reps not following up on “pre-qualified” leads, and the second is the frustration of the sales reps while trying but failing to close the sale. The two issues are connected. And based on the quality and the natural evolution (ripening) of the lead. Why Don't Sales Reps Follow Up Sales Leads? Having worked in sales for a relevant part of my career, I think I know the main reasons why follow-up is far from being optimal. Variability Of Lead Quality One of the reasons why sales reps do not follow up is that: in many companies, the quality of lead is extremely variable because frequently, there is no standardized…

11Nov 2021 by cesare ferrari

7 Practical Advice To Align Marketing And Sales

Sales

In my first post, I already said that I’ve spent an important part of my career in sales, both in Pharma and Medical Device. Hence, I strongly believe that sales experience is critical, and it is a kind of “boot camp” for a marketing professional. In my years of experience, I found out that Marketing and Sales conflicts, especially in large medtech organizations, are more the norms than the exception. Although the tension between the 2 departments is normal, poor alignment between Marketing and Sales will always produce low performances and wasted resources. What Are The Symptoms Of A Conflict Between Marketing And Sales? Some notable symptoms of Marketing and Sales conflicts I saw more than once are: The way the 2 teams describe the other is negative.The members of…

05Nov 2021 by cesare ferrari

Key Factors To Consider In Business Development For MedTech Companies

Other, Sales

Business development for Medtech companies as for other businesses is the creation of long-term value for an organization from customers, markets, and relationships. In defining it, two key points are of utmost importance, which are long-term and value. Furthermore, business development for Medtech is a long-term activity, which means that a new business does not necessarily have to produce value in the short term but of necessity, it should produce value in the long term. In case you're wondering, "What does long term mean in this context?” Well, that is another story(which I'll still address), but it is not the focal point of this discussion. That said, it's worth noting that to leverage business development, your company must give adequate attention to creating value for all the stakeholders (i.e. company,…

23Oct 2021 by cesare ferrari

Who Is The “Customer” In Medical Device Marketing?

Downstream marketing, Sales, Upstream marketing

Keep in mind that the short answer to this is that...it depends. Luckily, as you read on you'll understand the reason for this conclusion on the role of the customer in medical device marketing. To begin with, the medical devices category is very diversified and assorted, but that's not only from the regulatory point of view.   Part of the category of medical devices include: basic medical supplies like sutures, tongue depressors, syringes, surgical instruments, and more complex devices like implants, pacemakers. It also includes big capital equipment such as CT and robots.  For the different categories of medical devices, the number of individuals and organizations that could influence the purchase decision might possibly be significant and different. In this article, I consider the “customer” of medical device marketing, all the stakeholders. And not only the…

29Aug 2021 by cesare ferrari

Are You Over Underestimating The Power Of The Sales Force Training?

Sales

Investing resources in the sales force (direct or indirect) is almost always paying a good interest rate. The best part of it all is that you can invest in your sales force in different ways; however, I think one of the key investments is Training. As you already know I started my professional career in sales, and I still strongly believe that spending a few years in sales is one of the best things you can do to develop a deep understanding of the market’s needs. Surprisingly, one of the market’s needs often not totally understood is a well-trained sales force. And for a prospect or customer, there is nothing more frustrating than interacting with a salesperson who does not have sufficient knowledge about their product. The Basics Of Sales…

Category: Sales