The 2nd annual MedForce Summit commenced in Nashville last week and to say it was a tremendous success would be an understatement. Professionals across various life sciences verticals, including medical devices and pharmaceuticals, gathered together to discuss the significant role of Marketing and Sales within a healthcare organization, the evolving healthcare landscape, and why the need for transformed commercial models is best fit for value-based care.
From this event, the following key takeaways were found:
There are 5 essentials for transforming your commercial model
Jocelyn Johnson, Chief Marketing Officer at GE Healthcare, kicked off the event with a powerful message: The digital corridor is the new frontier and healthcare companies must adapt. For Marketing to market more effectively, Sales must participate in not only creating the messaging framework, but also the overall strategy. While this may be easier said than done, Jocelyn noted the following essentials to get an organization on board with a commercial model transformation:
1. Create common definitions
For Marketing and Sales to truly align, they need to be on the same page. This not only applies to an organization’s business strategies and priorities, but also the measurement of such efforts and activity. Everyone needs to work together in order to live out their organization’s mission and values.
2. Become customer obsessed
While this may seem obvious, becoming customer obsessed is essential when transforming a commercial model. A life sciences company needs to understand what matters most to their customers—whether it be cost, quality, access, or sense of community—to properly market to them.
3. Hire people smarter than you
The best leaders recognize their employees’ greatest strengths and empower them to lead and make decisions. How can you understand what employees care about? Hint: Know their passions. By knowing their passions, roles can be further defined to make optimal use of employees’ time and efforts.
4. Have the ability to customize
Personalized medicine is on the rise, and personalized Marketing and Sales interactions should be no different. To further align Marketing and Sales, Jocelyn provided a great example that she has implemented at GE: zone marketers. Each sales territory is assigned a dedicated Marketing employee to serve as their first point of contact and cover their marketing needs, while also being given the ability to customize content for each prospect.
5. Try to stand still in a moving world
In a fast-paced world, it’s easy to get caught up in the latest and greatest Marketing and Sales techniques. However, Jocelyn advises companies to stand still for a moment. Why? By allowing Marketing programs to marinate, life sciences organizations can gain more traction on a specific campaign, rather than jumping from one to the next. Marketing requires patience; try standing still.
Without proper implementation, Sales strategies often fail
Marketing organizations hear it all the time: Sales doesn’t want to take any extra steps than necessary. Implement this. Implement that. If there is no adoption of platforms or processes to better communicate with Sales, what’s the point?
However, there are four changes that need to occur for Sales to get Go to the full article.
Source:: Business 2 Community