Constantly and effectively bringing value can be a tricky business, but that’s part of the fun of being a medical device sales rep, am I right? Well, even seasoned veterans struggle with this integral part of the job from time to time. In the ever-changing world of healthcare it seems whatever is valuable today may not be valuable tomorrow. Furthermore, establishing value can seem like an impossible task in the world of big data, tons of competitors and the need for instant gratification. Pro-tip: nothing is impossible, especially when you’ve got the Sales Growth Engineers from ProSellus with 4 foolproof tips sure to establish value for current and potential clients.
Open With Empathy & Follow Up With Logic
Empathy
Big buzzwords outside of generic ones like “synergy”, “bizmeth”, or even “mindshare” are a big deal these days in every industry. One that comes up more often nowadays is the word “empathy”. Basically, this means putting yourself in the shoes of someone else, understanding their perspective, and developing a relationship based on this mutual understanding of that person’s situation. How does this relate to establishing value? So glad you asked! The better a relationship you have with a client, the more likely they are to trust your advice and believe in your services.
Extend empathy beyond the client/rep relationship and put yourself in the shoes of people using the device or service you’re offering. How can you appeal to them through your client?
Revenue
Your next step, once you’ve established an empathetic connection, is to remind your client of the logical reasoning behind the new device/service. What’s the bottom line for any business owner? PROFITS. That means you have a few questions you need to ask your client. Of course, if you’re worth your salt as a sales rep, you should be able to answer these questions FOR your client.
- How happy are you with the current revenue numbers of your business?
- What have you done to increase those numbers in the past?
- What if I could show you a way how to increase those numbers?
Now, you might already see the next logical step in this process coming, but it’s not the cost of the new service/device. You just covered a “logical” reason for establishing value, so it’s time to switch back to empathy.
Notice, nobody has said anything about what you sell yet…
Quality of Life Determines Value
Time
That’s right – time. The biggest commodity on the market that everyone always needs more of (including you!). The obvious question is: “How much time do I have to establish the kind of value needed to win over this new customer?”. You can lead with that, but you never want to finish on that question alone.
How much time do I have and how much time does my customer have to really make an impact and potentially change the way we do things? After all, if you want to increase revenue, and you want to create value; do you REALLY expect to be able to do that by doing the same things you’ve always done? Nope. My friend, that would be the definition of insanity. Keep this part short and sweet. Time is money, after all!
Again… no one has mentioned your product yet…
Cost
Closing with this as your final step in your value proposition is like the cherry on top of your favorite ice cream sundae. You can present hard numbers as to what the value you bring will be to the customer, but if you stop there…you’re probably not going to close the deal.
The second half of this step (and more important part) is to establish the cost of NOT using you/your product/your service.. Throw in some callbacks to your points about revenue, time, and make new points about potential ROIs. Close with a subtle reminder about “doing things the same ways will never get you beyond where you are today…”.
Again… what have we not even spoke about yet? Our product…
You all may think I’ve fallen out of the clouds about not talking about my product at this point. Here’s the last point I want to make about “Bringing Value,” – when trying to work with new physician customers: what do you think they (physician customers) hear all day long from reps just like you? Here it is: “Let me tell you all about our new product,” or, “Let me tell you why our product is better than our competitor’s product,” or, “Let me tell you about a new study with our product.”
Newsflash: Let’s talk about something that your customer REALLY cares about. I’m not saying all of those other things aren’t important, but, what is MOST important? Wouldn’t you want to be the person who brings THAT value? If you are the person bringing the most important value, you’ve just become irreplaceable. Not a bad place to be for a rep if I do say so myself.
Are You Closing Often Enough?
Of course, even if you employ all the best advice from top sales reps, you still might not get the deal. If this becomes the norm, then that affects your bottom line which means it’s time to try something new. Email me at Scottwalle@prosellus.com and let’s explore strategies to improve your bottom line and maybe even – hear me out – your own quality of life.