How can you maximize revenue for your medical sales business?

As a Distributor of Medical/Dental Equipment, Supplies, and Education Events I have learned to maximize revenue by using my strengths. First, my ability to respond quickly with information the buyer is requesting is a key to building trust. Secondly, I work closely with the Manufacturer's Representative so they can schedule a site visit and develop specific clinical requirements and site measurements. Lastly, and most importantly I want to drive home the notion that the support the Doctor and his team get post installation is priority #1.

1x Leader 1x Sales star 3x Hunters (forerunners) thats all you need. Sales are nothing about what is written in books, nothing about trainings or else, it is about - you have born as sales or not. Find sales people, make them stars, lead them, find couple hunters that are ready to work 24/7 in office, out of office, to always be touch with customers and open the doors. Then learn your guys to earn money from their deals, and they will maximize your revenue. Strong team only.

Control on pricing and margins are very critical when it comes to revenue generation Many organisations/firms do good numbers on paper but when we dig down deep the net profit is peanuts and sometimes loss Annual marketing Budget allotment/Expenditure should be spent rightly with prior commitment form the team and customers Accountability of marketing expenses should be monitored and most importantly the team should be sensitise why the profitability is the most important factor for any business

It is all about the sales team , they are the real customers for any manager . Being successful with them , will make your business successful whatever the market , whatever the product or service .

A simple method here is to ‘learn from others’ use multiple sources and contacts to learn as much as you can. LinkedIn communities are super helpful here.

Pricing is one element but profitability is the key to long term success for a business especially in the current Climate. A lot of business in Med devices have been focussed on the top line and borrow to fuel growth but there are less borrowing options now.

In my point of view, Key account management is a growth business driver as per latest pharma statistics, account mapping, vertical and horizontal growth within the accounts, rational investment per potentiality and opportunity cost in addition to that being a single point of contact, leverage the level of your customer satisfaction will lead to higher output.

From my perspective, cultivating strong relationships with your valued customers and leveraging them as advocates to expand your business into new markets is a key success factor in business. We are all human beings, and when a trusted partner speaks about your values and how you can add value to new customers, it holds significant value. Building this level of trust requires hard work and consistency. It’s not only about establishing good relationships with your valued customers but also about maintaining them through partnership programs along the way.

In Med devices I think we’ve been guilty for too long in focusing on feature and benefit sell and we should be looking at a procedural sell.