Thriving in the New Healthcare EcosystemBy: Craig Ackerman Medical Device, Sales Coverage, Sales Strategy
This is an exciting time for Healthcare. Cutting-edge technologies and services are transforming the industry in an effort to improve patient outcomes while reducing costs. These new technologies and services are compelling organizations to rethink their go-to-customer models. To meet the needs of their highly sophisticated buyers, customer-facing organizations are evolving and refocusing their sales models on selling increasingly complex solutions.
Not too long ago, sales representatives were largely lone wolves in geographically designed territories—primarily masters of their own domain. As the healthcare market and the corresponding offerings have grown more complex, selling has shifted dramatically, resembling more of a team sport. Healthcare companies are now augmenting traditional selling roles with functions such as product specialists, clinical specialists, key account managers, junior sales representatives, case managers, customer success managers and IT specialists. The more complex buyers and solutions require innovative approaches to serving customers, and winning companies are paving the way.
Additionally, companies are feeling both the positive and negative effects of a healthy economy and increased innovation across the industry. On the positive side, industry growth and product pipelines are healthy. On the negative side, the competition for talent is exceptionally high. Both pay and turnover are increasing. Sellers across the industry are not only demanding higher pay, they are also demanding higher base salaries.
Alexander Group (AGI) expects a sustained tight labor market as well as continued evolution of customer-facing models. To examine the latest trends and gain insights into how the market will evolve, AGI is conducting its 2019 Go-to-Customer Trends and Benchmarking Study. During this research, we will gather insights regarding:
- Investment profiles across customer-facing roles
- Market access and key account programs
- Evolution of traditional selling roles
- Expansion of lower cost selling roles
- Enhancement of clinical support programs
- Usage of digital sales and marketing programs
- Trends in compensation levels and design
AGI’s study will generate insights across the healthcare ecosystem, including:
- Medical Devices and Products
- Healthcare Technology
- Pharmaceutical and Biotechnology
- Healthcare Services
Study participants will receive a comprehensive report along with highly relevant benchmarks, including expense-to-revenue ratios, revenue per customer-facing role, management ratios, sales force composition ratios and sales compensation levels. The insights and benchmarks in the report will help you make fact-based decisions that will prove useful in 2019 and beyond. To participate in the healthcare industry’s most comprehensive go-to-customer study, contact our revenue growth leaders to find out more details.
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