Disruption of the medical device sales approach
I learnt how to sell medical devices as a young and impressionable guy working at J&J. The model I learnt was tried, tested through the ages and repeated every day of the week. And it was phenomenally successful. As we know, the world and the way we work have fundamentally changed due to the coronavirus pandemic. Our approach to selling medical devices must also adapt and change.
Historical relationship building
The truth is you needed to have face-to-face discussions with surgeons. Through my sales experience, I learnt that you must build a respectful relationship. You need to work out how to gain access to hospitals, clinics, use the brand you represent and have relationships. Most companies support congresses, you must attend. Meet customers and make new contacts to strengthen the relationships you have created. There is no easy way, you have to work hard, walk the pavements, so to speak, be professional and ultimately build trust and be of value.
After my time with J&J I led the scaleup of Cook Medical’s aortic device startup. I applied the same relationship building model. We did it well. We pushed the model hard. We had great access to surgeons, to operating rooms, hospitals welcomed us for the clinical value we brought, and we had a massive presence at major and minor meetings and congresses.
Billions of dollars in revenue later, with so many lives affected with life-saving devices, operating in 86 countries, we had a major presence in the twenty global markets. I then took a deep breath – the model had been good for us.
The current environment
That historical, tried and tested relationship model is dying – it’s no longer relevant or viable. What’s changed? The way we work, digital technologies and the way we communicate. As my friend, Dan Carter at Real Chemistry, told me recently – COVID didn’t cause this, but it certainly caused its acceleration.
Running a sizeable medical device company, you come to know that this ‘boots on the ground’ model is very expensive to run. You also suspect that it’s less than effective and certainly not efficient. But you get the sales numbers up and work the business model to make sure the end result is one all stakeholders can stomach!
Many of the key drivers of this tried and tested model went away in 2020, but one thing remains. Relationships. Surgeons still need to feel trust and confidence in medical device manufacturers.
It’s time to think outside the box. The traditional relationship building sales approach is not going to return. Too much has changed. Consider how you can use the tools, networks and skills you have to get in front of the right people, and connect with them.