MedTech Sales Strategy: The Top 10 Competitive Tactics Used Against You!
Every deal has competition. In some, it is the pressure to “do nothing” and maintain the current status quo. On other occasions, it’s to use internal resources instead of investing in external solutions. In many situations it is a direct alternative to your product, service or solution. Competition is about winning and winning requires a […]
Strategic Procurements 10 Commandments for Managing the Hospital Buying Process
As strategic procurement gains more power, authority and influence within hospitals and health care systems they are gradually educating non-procurement personnel within the hospital on how “to engage and not engage” with sales professionals. We call this education performed by procurement within their hospital “Procurements 10 Commandments for Managing the Hospital Buying Process”. These are […]
How You Can Tell if a Hospital is Customer Centric! Part 2
Much has been written about improving the patient experience within hospitals. Under healthcare reform penalties are incurred if patients with certain conditions are re-admitted within 30 days of discharge. For these and other reasons many hospitals have gone to some extreme measures to make their facilities more patient friendly. It’s taken awhile for hospitals to […]
Concession Strategy in Complex Negotiations–Planning Your Give-And-Take: Part 2
In “Concession Strategy Part 1” we explored what goes into a concession strategy, the importance of detecting your counter-part’s approach to negotiation (collaborative vs. competitive) and four guidelines for conceding. In Concession Strategy Part 2 we’ll focus on the five skills you should develop or refine to become a better practitioner of “win-win” negotiations. It […]
Concession Strategy in Complex Negotiations–Planning Your Give-And-Take: Part 1
Consider this situation. Your manager offers you a newly created sales management position that includes an increase in salary and a $30,000 bonus. As you reflect on the offer you realize that if you earn your bonus, your total compensation will increase but not markedly since you are paid a salary plus commission now and […]
Is Sales Planning a Waste of Time?
The Context In a recent sales workshop we had lunch with three sales representatives. For purposes of anonymity we will call them Abbie (A), Bill (B) and Charlie (C). It was 10 months into their fiscal year and the conversation turned to their sales funnels, sales planning activities and their efforts to close the year […]
Best Practices with Strategic Accounts
For every sales organization there are very large accounts that require extensive company resources. Whether you call them “key, national or strategic accounts” does not matter. Loss of even a single important account would create a significant revenue or profit shortfall that would be difficult and time consuming to replace. For many sales executives, effective […]
Lesson Learned: No Response! Why?
In a recent sales workshop a participant asked us for some help to solve a problem that perplexed her. We asked for some context before she asked her question. Here is the scenario she (we’ll call her Sally to protect her identity) painted for us rather graphically. Have you ever found yourself in this situation? […]
A Sales Skill That is Often Ignored: Listening!
“Most people do not listen with the intent to understand; they listen with the intent to reply.” Stephen R. Covey Are you a great listener? Most, if not all, sales professionals would say that they are great listeners. While most sales professionals would receive high grades many would be wrong if their clients or customers […]
Do’s & Don’ts for a Successful Negotiation
Background No matter the complexity or size of the deal, there are certain Do’s and Don’ts that you should follow prior, during and following the negotiation. Your goal should be to reach a compromise that is fair and equitable to both parties. Remember–if you close the deal both parties will be partners. Negotiate a win-win […]
