In this week’s newsletter, Binnovate Digital brings you the first of a 4-part series about “Research and Healthcare Sales”.
In a dynamic and rapidly changing healthcare landscape, being ahead from the rest is more than just selling products and closing deals.
Beyond that, key decision-makers in the healthcare industry are increasingly taking more time to investigate products and services before making a purchase, which could result in less explanation required on the part of salespeople yet the challenge of the long sales cycle remain.
Having an in-depth understanding of the healthcare market as a whole, the competition around you, and the unique needs of your potential clients demands one thing from you: You need to do your research.
Let us discuss the crucial role of research and its impacts on sales in the healthcare industry.
How Powerful are Well-Informed Choices?
Healthcare solutions today must be able to serve a variety of patient populations in various geographical areas. This is where research shines as your North Star.
In-depth research provides you with much-needed information and data about market trends, regional preferences, and/or cutting-edge medical technologies. With this, you may adjust your sales techniques to meet the particular requirements and demands of your target markets.
For instance, researching makes you capable of determining and creating an inventory of all relevant buyer personas, mostly those who are key opinion leaders who influence company decisions or purchase matters. This can then be incorporated in your messaging, as shown below:
Data-driven decisions help cultivate credibility and trust.
Credibility is crucial when speaking to prospects, especially those at the C-level.
Offering solutions that are supported by solid research lets you stand out, as this speaks of your commitment to provide value and not just merely after the sale.
In our experience doing healthcare prospecting, crafting a research-backed video sales letter (VSL) proved to be an effective way to establish credibility and get our message across–a humanized healthcare prospecting framework that is scalable, fully compliant, consumer-focused, and cost-effective to double your sales appointments with a prospecting team having a specialized set of skills while also saving you time and money.
This trust may open the door to long-lasting collaborations with patients looking for dependable healthcare solutions.
The Need to Stay Ahead of the Curve
Continuous innovation and advancements have always been a challenge for all players in the healthcare industry.
Remember Benjamin Franklin’s saying, “If you fail to plan, you plan to fail.”?
A huge chunk of planning involves research. The absence of research results in falling behind as new technologies, healthcare options, treatment methods, medical devices, and the like emerge.
Conducting research regularly makes you capable of doing quick adjustments when necessary as up-to-date data and information enables you to anticipate shifts in the industry.
Researching is a proactive approach that not only supports your sales efforts but also positions you as an agile and adaptable thought leader within the healthcare sector, allowing you to map out a coherent plan for your prospect.
This gives your prospects the confidence to trust you as you are capable of mapping out their journey both online and offline, from initial outreach seamlessly transitioning towards a demo, discussion, or a discovery call, as how we call it in Binnovate, other several touchpoints, until arriving at a sales agreement.
Being agile and adaptable allows you to craft tailored strategies for diverse audiences.
What resonates with one prospect or market might not necessarily resonate with another.
Conducting region-specific and in-depth research equips you with insights into the unique challenges and preferences of each market.
While informal customer feedback through testimonials and the like also provide helpful insights, research-derived data provides objective information and a rigorous understanding of the necessary aspects such as the extent of your competitive advantages as well as real and/or perceived weaknesses, that can be leveraged to address objections and hesitations.
Being equipped with the knowledge and data enables you to customize your sales approach, enhancing your ability to connect with your prospects on a meaningful level.
Research then unlocks growth and development opportunities.
It has been emphasized that research can shed light on problems, issues, and changes.
Beyond those, research also helps you unravel unrealized potential.
Critical information and relevant data allows you to distinguish yourself from competitors by finding market gaps or places where your solutions can have a major impact.
As researching is a proactive approach, the likelihood of doors to new development and expansion opportunities being presented to you is high, guaranteeing your relevance in a competitive healthcare market.
For all these reasons, it can be concluded that research is a pivotal aspect of successful healthcare sales efforts in an industry where precision and adaptability are non-negotiables.
Leveraging the power of research not only improves your healthcare sales efforts but also contributes to elevating the healthcare industry.
In the next part of this series, we will continue our topic on research and healthcare and discuss quantity versus quality in prospecting.
Ready to dive deeper?
Go ahead and watch this video to learn more about how you could double your healthcare sales appointments in 4-6 weeks with a fully-compliant prospecting team, tools and proven-effective funnels.
Happy prospecting!