Preventing the Death of Medical Device Sales

The medical device sales industry is slow to change. It’s behind on how hospitals and physicians adopt and adapt to buying, sales strategies are out of date, and increased costs are leading to diminished returns. What are specific tactics that MedTech companies can take to develop their sales process?In this episode of the Global Medical Device Podcast, Etienne Nichols talks to Omar Khateeb about preventing the death of medical sales with new data that shows where you can find prospective buyers for your medical device products.Omar is the founder of Khateeb and Co., which helps MedTech companies grow sales and drive product adoption through social media and content.Some of the highlights of this episode include:Omar describes the death of medical sales as the death of an old way. The world has changed and buyers in every industry have become more sophisticated. Social media content now influences buying decisions.Rather than unscheduled clinic and hospital visits with physicians, Omar describes the new way of medical sales as liking, commenting, and resharing their content.LinkedIn and other social media channels are powerful for communication and influence. The real value is building thought leadership and creating attention-getting content to persuade someone to meet with salespeople.Companies need new categories or different ways of doing something. A marketing campaign should include: What problem do you solve? Who do you solve that for? How are you solving it in a unique way?Be as specific as possible because your message needs to resonate with specific people. If you can’t satisfy one specific person, how can you satisfy an entire market? The riches are in the niches.There are pitfalls that some people and companies get into when utilizing a social media approach on their own. Spend more money to buy time. You can always make your money back, but you cannot get your time back. Memorable quotes from Omar Khateeb:“How the buyer’s journey for everybody, not just doctors, has become more sophisticated.”“We should be selling and marketing to physicians and hospitals using social media.”“You shouldn’t be posting stuff about your product as a salesperson.”“The riches are in the niches.”“I help medtech startups drive technology adoption and gross sales using social media.”Links:Omar Khateeb on LinkedInThe Death of Medical Sales: Igniting a New FutureUpending the Medtech Sales ModelAlex Hormozi on LinkedInGeoffrey MooreGreenlight Guru YouTube ChannelMedTech True Quality Stories PodcastGreenlight Guru AcademyGreenlight Guru CommunityGreenlight Guru