At first take, the core argument for deploying a sales enablement solution within life sciences—to efficiently remain compliant in a heavily-regulated environment—is nothing unfamiliar to industry professionals. However, there are several additional benefits of sales enablement for medical device companies that often go unnoticed:
Synchronizes Tech Stacks
Given the complex makeup of medical devices, utilizing compliant technical applications is a high priority. Systems such as Product Lifecycle Management (PLM) and SAP not only help medical device companies adhere to strict FDA requirements, but also serve as a single source of truth for their products.
The same can be said for a sales enablement platform. While a CRM typically serves as the foundation for Sales and Marketing, and may be integrated with a marketing automation platform, it’s not enough to withstand today’s competitive market. A sales enablement platform serves as a single source of truth for all content and picks up where a CRM leaves off, allowing sales reps to maximize engagement throughout the sales cycle for any buyer persona. It creates a seamless transaction of data into all pertinent systems, while removing the need for manual data entry.
Simplifies Company Mergers and Acquisitions
A PWC report called 2016 the year of merger mania in healthcare, and there’s no sign of it slowing down. Just last week, Becton Dickinson acquired C.R. Bard to not only enhance its position in the market, but also to give the company a larger presence in fast-growing fields. Likewise, Cardinal Health recently acquired three Medtronic businesses for similar reasons.
As the healthcare industry shifts to a value-based care delivery model, more and more companies are merging together to strengthen their position in the marketplace. These newly created integrated delivery systems are meant to streamline efforts and lower costs, all while improving patient outcomes, remaining compliant, and increasing revenue.
While a merger or acquisition can be a lucrative strategy, the actual dynamics of such an integration can be a bit tricky, especially if it’s global. Newly merged companies that deploy a sales enablement platform will be able to standardize workflow processes, tech stacks, collateral, and messaging—removing unnecessary headaches for multiple stakeholders including Sales, Marketing, IT, and Compliance.
Encourages a Focus on Patient Engagement
It’s been said that patients whom engage as decision-makers in their care tend to be healthier and have better health outcomes. This is why patient engagement, and its associated technology, is a viable solution that patients need, and deserve, to stay connected in order to better manage their health.
Sales enablement not only simplifies Sales and Marketing collateral from a B2B standpoint, but also serves as a helpful tool for patient engagement efforts. Having a single repository for all content, such as pre- and post-operative instructions or chronic disease information sheets, ensures the right message is delivered to the right patient, while still remaining HIPAA-compliant. It alleviates time spent organizing and distributing content so a medical device company can focus on what matters most: their patients.
Adapts to the Selling Landscape
The medical device sales environment is changing, and with that, sales reps need to be equipped with solutions that not only make them more efficient, but more effective. As multiple key stakeholders are now involved in purchasing decisions, sales reps can no longer rely on a day at the golf course with a surgeon to make a sale. Rather, they need to understand each buyer persona’s needs, in different environments, at a much larger scale.
To optimize performance, successful sales reps need a customized approach for each prospect, and at a moment’s notice. A one-size-fits-all slide deck or one pager won’t cut it if different personas are sitting at the table, and if the content isn’t accessible on mobile? Forget it.
By deploying a sales enablement solution, however, the right message is delivered to the right person, at the right time. Just like the sales environment, the marketing landscape is changing, and the companies taking a proactive, personalized approach to adjusting to these changes will undoubtedly capture a larger share of the market.
Aligns with Big Data Trends
While healthcare data is powerful relative to patient outcomes and predictive analytics, data also plays a significant role in a sales enablement platform. These insights allow for marketers to evaluate how specific pieces are performing, where they can adjust as needed, and what future content needs to be created. This ultimately makes way for better positioning, strategy, and effectiveness.
Data is inarguably the backbone of any technical application, but its importance weighs heavier when it comes to a patient’s well-being. If population health data enables a more-informed treatment decision and improves patient outcomes, imagine what a sales enablement platform can do for Marketing and Sales within a medical device company.
