Covid-19 changed medtech sales strategies forever. As in-person meetings slowed to a near halt, medtech sales reps became desperate for alternative ways to engage prospects.
The agility provided by a robust virtual selling CRM for medical device companies is now crucial to thrive...it’s why successful medtech companies have replaced siloed platforms that rely on in-person visits, disconnected systems, and outdated marketing tech. The ones that haven’t risk referral leakage, diminished market share, and collapsing revenue.
Some say that vaccines will return sales strategies back to normal; however, evidence shows that many providers will continue to prefer virtual interactions.
A survey by Bain & Company shows that this preference is only becoming more common, even in the post-COVID-19 world:
- 47% of physicians who preferred in-person visits now strongly prefer virtual engagement.
- 3 out of 5 physicians believe this trend should continue.
For companies striving to remain competitive in 2022, it’s important to replace outdated selling platforms with virtual ones immediately.
What Do Outdated Platforms Look Like?
Outdated selling platforms are rigid, making it impossible to evolve. They are defined by:
Poor Technology
Day-to-day operations that rely on managing leads and opportunities in spreadsheets or antiquated point systems cause lead atrophy, manual work, and duplicated processes.
Siloed Data and Systems
A cobbled network of disparate systems creates confusion between sales, marketing, operations, and IT. Without a single source of truth, it’s harder to execute tactical actions on a daily basis, let alone develop long-term strategic business decisions.
Poor Analytics
Remote engagement provides more channels of engagement than in-person meetings, and without a means to interpret the data, it becomes difficult to consume, understand, and act on.
Poor Communication
Systems aren’t capable of handling prospecting, communications, or tactics, which burdens representatives with day-to-day manual tasks that reduce productivity.
If any of these problems affect your business, how do you prepare for the new virtual reality? It starts with the right virtual selling platform.
What is a Virtual Selling Platform?
Let’s crush one false pre-conception. Virtual selling is more than just remote meetings, video-conferencing, or phone calls.
Here are the core elements a robust virtual selling platform that goes beyond video needs:
Robust Engagement Tools
Enable your sales team to drive meaningful digital interactions along personalized, automated journeys that generate ROI
Seamless Self-service Portals
Empower clients with tools that allow them to configure, quote, purchase, and request support
Intelligent Data
Leverage information to predict behavior, anticipate needs, and generate better business decisions
These core elements are the bare minimum. To ensure your platform scales with growth, make sure you ask the following questions prior to selecting your platform.
Must Ask: Is the platform tailored to our medtech sub-vertical?
Depending on your sub-vertical, the future state of a cohesive virtual solution will likely go well beyond just sales.
Your platform of choice needs to meet the unique requirements of your medtech sub-vertical. Virtual selling platforms are not a one-size-fits-all solution, and must be tailored to your unique goals.
Surgical Instruments
Healthcare providers need to rely on your representatives for robust training, product knowledge, and inventory support.
Implantable Surgical Parts
Healthcare providers need to rely on your representatives for training, product knowledge, and inventory at a moment’s notice during surgeries.
Research Diagnostics
Researchers at providers and labs rely on your representatives for product, industry, and technical expertise, and they must have the tools they need to communicate effectively.
Imaging and Radiology
Capital sales requires intricate processes to influence, educate, and secure funding. This means that relationships must be effectively managed and mapped within the research ecosystem.
Must Ask: How does the platform create a cohesive customer experience?
The realities of COVID-19 mean that a virtual platform needs to be more than just a selling tool. Rather, it needs to focus on driving engagement, adoption, and satisfaction across marketing, sales, operations, and information technology.
Without orchestration between inventory, quoting, sales ops, and more, your virtual sales platform will create disparate experiences.
Must ask: How does the platform act on data?
Virtual engagement opens up access to a wealth of data. Without a means to interpret it meaningfully, it becomes noise.
Any virtual sales platform should provide key data points in one interface, utilize AI to interpret trends, and make meaningful predictions.
The right platform will help you close more business with actionable, intelligent insights.
Adapt to the New Normal
While transformation is tough, virtual capabilities may be your greatest competitive advantage. If you don’t adapt, it could also be your greatest weakness; a backdoor towards physician and provider referral leakage.
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June 28, 2021 at 04:01PM
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Virtual selling expected to be the new normal of medtech sales in 2022 - MedTech Dive
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