Why Sales Enablement Matters in the Medical Device Industry
According to Aberdeen, organizations with a sales enablement solution experience a 13.7% annual increase in deal size. That’s a pretty impressive stat, but what exactly is sales enablement?
Well, it depends on who you ask. Sales enablement can mean many different things, but at its core is a way to improve sales performance and productivity. Medical device organizations like Elekta have seen impressive ROI, pipeline, and revenue growth from implementing a sales enablement solution. In fact, Elekta increased their sales content ROI and usage by 350% after implementing a sales enablement solution.
Having a sales enablement strategy also has a multitude of other benefits for medical device companies. I’ve highlighted a couple below:
Compliance with regulatory requirements: Compliance is top of mind for medical device companies as noncompliance costs companies huge amounts of money, puts patients at risk, and taints the brand reputation. With a sales enablement strategy medical device companies can ensure they are only distributing the most up-to-date and compliant materials. Marketing teams can control which versions of materials their sales teams are using, and sales teams don’t have to spend time trying to create their own content, which may not be compliant.
Differentiated sales conversations: Sales reps need to be trusted advisors in the medical device space. To do so they must be able to quickly access the right materials for their buyer whether it is a hospital executive, specialist, or key opinion leader. Companies that implement the right sales enablement tools are 2.2x more effective at linking sales actions to revenue.