Sales coaching can have a dramatic impact on win rates and quota attainment. Yet many reps still aren’t getting the coaching they need to improve sales readiness and close more business.
There’s no question that today’s medical device reps have a lot on their plates.
Like all reps, they have to stay on top of new product updates. But being in the medical device industry, they also have to keep up with new regulations and navigate the complexities of the healthcare landscape, which is changing and consolidating at a fast pace. On top of that, physicians and surgeons now expect medical device reps to become their trusted advisors – to the point of receiving guidance at the operating table.
Medical device companies know that reps can’t afford to waste key moments of opportunity in front of busy buyers. They need reps to connect their products to patient outcomes with value-driven messaging, instead of simply focusing on product details, while also staying compliant and accurate.
This is where a sales enablement tool can be a huge benefit to medical device companies. With effective sales enablement that supplies the right training, coaching and content, medical device reps can have more successful interactions with buyers and make the most of their time in the field.
Watch the video above or read on to learn how sales enablement technology can help your company achieve better results.
1. Staying Compliant
Medical device reps who go “off-script” in front of healthcare professionals risk violating industry regulations (not to mention hurting your company’s credibility). But with a sales enablement tool, you can ensure that reps are on-message through video coaching assessments and practice.
For example, reps selling a new line of medical devices could use a video coaching tool to practice delivering the value message to a certain type of buyer, such as a purchase committee. Managers would then review the recordings to ensure each rep’s phrasing is compliant with industry regulations, proving that reps are ready to go out into the field.
Tools like Brainshark’s AI-powered machine scoring can make this even easier, by analyzing a rep’s coverage of key topics, words and phrases. Video submissions that do not include an important phrase (example: “patient outcomes”) or use a word that reps should avoid (example: “guarantee”) would be flagged once the machine analysis is complete.
2. More Effective Sales Interactions
Medical device reps who predicate their entire pitch on product features (or stumble over the details) will only waste your buyers’ time, as well as their own. The same goes for reps who lack the expertise to put your solutions in the context of patient needs.
The right sales enablement tool will ensure reps have access to training and coaching activities that prepare them to tell an engaging value story to healthcare professionals, helping them make the most of every “moment of truth.”
Technology also comes in handy in times of need – reps have on-demand access to just-in-time learning to brush up on key information as they’re waiting to meet with a healthcare provider.
3. Dealing with New Market Conditions
M&A has become increasingly common in the healthcare sector. In fact, The New York Times found that the total value of healthcare M&A doubled to almost $316 billion in the first half of 2018, compared to the same period in 2017. More consolidation means more deal complexity, and in some cases, spending restrictions on the part of healthcare organizations.
The growing presence of large purchase committees and executives in buying decisions has also changed who medical device companies sell to and how they sell. No longer are reps only selling to physicians and surgeons.
So much change means many medical device reps need new skills and a new approach to succeed. And for that to happen, they need training and coaching that helps them adapt. Technology is critical here because it allows companies to scale their training and coaching efforts and roll out programs quickly in response to market changes.
If you’re going through M&A, for instance, a sales enablement tool can be used to:
- Quickly deliver training to the entire sales force, wherever reps work, that explains the value of the M&A transaction and how it will affect the sales strategy
- Provide assessment and just-in-time learning reinforcement to ensure that reps are on-message, able to articulate the value of the merger or acquisition, and handle questions from buyers
- Share the best practices of reps who have found early success so that salespeople can learn from their peers
From M&A to new sales methodologies, major events can transform the way your teams sell. Download our e-book to learn how you can manage complex change.