‘Moving Payers from Apathy to Adoption,’ a new webcast hosted by Cultivate Communications, helps medical device manufacturers navigate the complex world of medical device sales.
Brookfield, WI – A new webcast presented by Cultivate Communications aims to uncover the complex world of medical device sales by giving manufacturers, sales departments, and marketing professionals the unique tools and strategies needed to successfully pitch medical devices and ensure sales of their products.
The webcast, Moving Payers from Apathy to Adoption, highlights the top five mistakes medical device salespeople make during a product pitch and a nine-step formula to successfully secure sales from hospital administrators and procurement departments.
The webcast is hosted by Cultivate Communications’ MaryAnn Long and includes a presentation from Matthew Tucker, an expert and coach to startups, marketing executives, and commercial officers at MedTech companies.
Tucker’s top five mistakes include:
- The sales team is too focused on the product and not building a narrative to bring the product to life.
- A clinical demand hasn’t been shown to the payer.
- An ineffective description of the size or impact that’ll come from remaining with existing processes or equipment.
- Not having a perspective on an adoption plan for the new device and how it’ll fit into existing workflows.
- Not showing the economic impact the new device will bring.
“You have to articulate this in a way that’ll grab immediate attention of those payers without using anything that is gimmicky,” Tucker said. “The best place to start is providing statistics or facts that are credible, provable, but is also something that is a little surprising to the payer.”
The medical device market had a value of $512 billion in 2022 and could eclipse $800 billion by 2030, meaning there’s endless possibilities for manufacturers to tap into new and existing markets.
To help medical device manufacturers build a compelling narrative, Cultivate Communications recently released a new report with insights from hospital leaders on what they want to see during a sales pitch.
The report, Inside the Decision to Buy, highlights how hospital personnel make decisions on what devices to buy, including what motivates them and how sales departments can navigate any resistance or push-back from hospitals.
“We wanted to put together a useful tool for medical device manufacturers, sales teams, and marketing departments so they can understand what really drives and motivates top decision makers within hospitals,” said MaryAnn Long, Agency Director at Cultivate Communications. “It’s imperative that sales and marketing work together to take a science and art approach to reaching revenue objectives. We leverage a growth marketing strategy that focuses on optimizing a sales and marketing engine to win more deals by truly understanding the buyer’s mindset and speaking their language.”
Speaking a consistent language from the sales and marketing teams is paramount to building relationships with hospital personnel. The report dives deep into key strategies that must be taken, including making sure the hospital’s procurement department is brought into the sales lifecycle from the very beginning when conversations are just starting with doctors and clinicians.
“Procurement people don’t mind if device salespeople talk to doctors and clinicians about their solutions but appreciate being kept in the loop during these conversations,” the report states. “When doctors, clinicians, procurement professionals and prospective vendors work together, that generally leads to better outcomes for all of the parties involved.”
Download the report here.
About Cultivate Communications: In today’s overly competitive selling environment, you must think differently to stand out from your competition. At Cultivate Communications, we help your marketing and sales teams with a science-and-art approach to reaching your revenue objectives. By leveraging a growth marketing strategy, we work to understand your customer’s mindset, speak their language, and, ultimately, optimize your sales and marketing efforts to win more deals.