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Digg It - When Traditional Sales Calls Don't Work - What to do Instead
In classic sales training which has been entrenched for over 60 years, we learn that there are five simple steps to selling. If you followed the steps, you get the sale.
But as small business owner
Open the Call Investigate needs Give benefits Handle Objectives Close the Sale
But as small business owner
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
s have been vocal about, they need to grow their business, yet they aren’t getting the sales using this approach. So what’s happening? If you are selling a big ticket item, like a year-long support contract, an infrastructure installation, or a long-term training program for a corporate management team
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
your selling cycle doesn’t fit the traditional model any more.
What am I supposed to do instead?
The selling cycle for larger/longer products/programs/services has four characteristics that make traditional selling techniques ineffective.
1. Length of Selling Cycle
The selling cycle
What am I supposed to do instead?
The selling cycle for larger/longer products/programs/services has four characteristics that make traditional selling techniques ineffective.
1. Length of Selling Cycle
The selling cycle
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
may require many calls or connections over a period of months. Multiple sales calls have a completely different psychology from a simple product sale that you close on the first appointment or their first visit to your website.
2. Size of Customer Commitment
Large purchases involve bigger deci
2. Size of Customer Commitment
Large purchases involve bigger deci
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ions. This alters the strategy of the sale. As the size of the sale increases, successful salespeople must build the perceived value of the service.
3. Relationships
Most large sales involve an ongoing relationship with the customer. This is where multiple offerings that represent different pr
3. Relationships
Most large sales involve an ongoing relationship with the customer. This is where multiple offerings that represent different pr
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
cing levels, what some call your ‘marketing funnel,’ come in. Why? They must get to know, trust and respect you before they will invest greater time and money in your offer.
To the customer, the larger the decision, the harder it becomes to separate the seller and the product. So it is important to ke
To the customer, the larger the decision, the harder it becomes to separate the seller and the product. So it is important to ke
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
ep in mind, that as the sale grows larger, the customer puts more emphasis on the salesperson/service provider (you) as a factor in the decision to do business with you.
4. Risk/Return/Resistance
In small sales, customers can afford to take more risks and try something new on the spot, like y
4. Risk/Return/Resistance
In small sales, customers can afford to take more risks and try something new on the spot, like y
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
ur e-book or tele-class, for less than $50 on your Web site. The consequence of that risk is relatively low.
Each larger purchase represents a bigger decision and more significant risk. The perceived value of a $250 program package and the pain it will solve must be more explicit. It must be targeted
Each larger purchase represents a bigger decision and more significant risk. The perceived value of a $250 program package and the pain it will solve must be more explicit. It must be targeted
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
and it must promise greater results. When you expand that to a $999 package or a retainer of $5,000 or $10,000, the customer becomes more cautious with each increase in the size of the decision you are asking them to make.
You Need Different Selling Skills For These Major Sales
There are four
You Need Different Selling Skills For These Major Sales
There are four
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
istinct stages of a sales call when dealing with the large sale. Neil Rackham developed this model in the book SPIN Selling:
Preliminaries --> Investigating --> Demonstrating Capability --> Obtaining Commitment
Preliminaries
In large sales, preliminaries do NOT have the influence on s
Preliminaries
In large sales, preliminaries do NOT have the influence on s
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ccess that they do in small sales. The more senior the people you sell your services to, the more they feel their time is at a premium. So your objective in the preliminaries is simply to get the customer’s permission to move to the next stage of the call. That means your traditional questions and com
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ments to build rapport around personal interests do not apply.
Investigating
Investigating involves asking lots of questions, collecting data, uncovering needs, and understanding the customer and their organization. In fact, for higher value selling, investigating is the most important of all
Investigating
Investigating involves asking lots of questions, collecting data, uncovering needs, and understanding the customer and their organization. In fact, for higher value selling, investigating is the most important of all
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
selling skills and can increase the overall sales volume by more than 20%.
Success in larger sales, be it personnel placement, commercial development or technology installation, depends on how you handle this stage. Successful calls entail asking a lot more questions than we were trained to ask in tra
Success in larger sales, be it personnel placement, commercial development or technology installation, depends on how you handle this stage. Successful calls entail asking a lot more questions than we were trained to ask in tra
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ditional selling. Uncovering implicit and explicit needs is the sole objective of the Investigating stage of the call. This is where you build the relationship before the sale is made.
Demonstrating Capability
There is no surprise here – you must demonstrate to each prospect that you have some
Demonstrating Capability
There is no surprise here – you must demonstrate to each prospect that you have some
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
hing worthwhile to offer. You must prove that your solution will address each customer’s unique problems. Selling a solution is not the same as rattling off a list of features and benefits. You must connect with their pain and offer a solution that makes you exceptionally qualified to meet their need.
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
Obtaining Commitment
Obtaining commitment is not the same as your classic closing script. Remember, the bigger the decision and the more sophisticated the buyer, the more negatively they generally react to pressure and closing techniques.
In larger sales, there may be a whole range of other co
Obtaining commitment is not the same as your classic closing script. Remember, the bigger the decision and the more sophisticated the buyer, the more negatively they generally react to pressure and closing techniques.
In larger sales, there may be a whole range of other co
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
mmitments and other decision makers, you must obtain before you reach the order stage for your program or service. In seeking the next step, your call objective may be to get the customer’s agreement to attend a seminar, or to identify the next decision maker. Larger sales always contain a number of in
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ermediate steps – advancing the customer’s commitment toward the final decision.
Next Steps to Get it Right
These steps are only theory until you put them into practice. Here are four rules for learning any new sales skills:
1. Practice Only One Behavior at a Time - Focus on one ne
Next Steps to Get it Right
These steps are only theory until you put them into practice. Here are four rules for learning any new sales skills:
1. Practice Only One Behavior at a Time - Focus on one ne
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
w thing at a time.
2. Try the New Behavior at Least Three Times – Don’t knock it, until you try it.
3. Quantity before Quality - Use it often enough and the quality will look after itself.
4. Practice in Safe Situations – not on your biggest client
If you apply t
2. Try the New Behavior at Least Three Times – Don’t knock it, until you try it.
3. Quantity before Quality - Use it often enough and the quality will look after itself.
4. Practice in Safe Situations – not on your biggest client
If you apply t
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ese distinctive strategies to approach major sales in your market, you will see more doors open and more clients moving deeper into your marketing funnel. The more they engage with you and the more you build the relationship, the easier and more successful will be the sale and delivery of your offering
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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