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As a strategic-thinking med device marketing or sales professional, you know it’s all about putting the customer first. But how do you get your company executives behind you if they’re solely focused on hitting the quarterly numbers and only paying lip service to being customer-centric? Customer or Money: Which Comes First in Med Tech?As a strategic-thinking med device marketing or sales professional, you know it’s all about putting the customer first. But how do you get your compan source: https://www.linkedin.com/groups/78665/78665-6101526990278451200 Marked as spam
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As a sales professional you have to target and cultivate the right customers so the money is a secondary question. If you have a customer who budget and needs are for the basic system and you have only a cadillac offering you have a miss match that will eventually cause the relationship to fail. The service and value of your total value proposition is negatively impacted by the miss alignment of the product offering. Then you and the company have wasted a significant amount of time and resources. Target appropriate customers and remember to charge for your value in the equation.
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Moshe Engelberg
Really interesting viewpoints- thanks everyone for your comments. What a lively group! The theme I see is that being customer-centric wins in the long haul by: 1) providing differentiation and competitive advantage, 2) focusing your efforts, and 3) aligning with customer needs. And the outcome is making more money. It may also mean sacrificing short-term profits, which can be a tough sell up the management chain and to shareholders. What are your experiences "selling" a customer-first approach within your organization??
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I was agree with Steve, although indeed our company need long term profits that could hit stable income in the future, but as we said we need present income to run present days, so I think it was right to choose patient centered sales system but never forget to plan thoroughly which customer segments that we aimed first, and this would be depends on our products profiles and our strategic approach
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This is a very complex issue as there are often multiple customers for a given device who's motivations may be at odds. In the area of surgical implants or device sales, who is the "customer"? The patient who receives surgery? The clinician that chooses and employs/implants a device? The hospital that purchased the device? The insurer that pays for the device? To ad another wrinkle; a sales rep's "true customer" is the company that pays their commissions. So how does one prioritize?
Patients and clinicians tend to want the best product. Buyers and payors tend to want the least expensive product. Device companies expect sales growth in perpetuity, whether you're selling the best or the cheapest. Marked as spam
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Moshe Engelberg
I think the bottom line is to make the case that putting the customer first makes more money. I'll write a post soon to help others make that case. The reality remains that if the goal is to make the most money the fastest without regard to long-term viability, then a customer first approach may not be best. However, as I mentioned in the original post, in companies committed to customer intimacy, the lifetime value of a customer trumps hitting quarterly numbers.
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My customer get the feeling( in the stomak not in his head) that my price is equale the value of the injection molding machine or solution.
We are talking about customers problem, his need and the best solution,... yeah guys that's fine, but we thinking on the number below : the price. The best price and the money asap. I have to ensure my Job, the cash flow and the margin. Our Job is nice, but the facts are cold. You make money or you lose money. On the left side of the picture, we should exchange the word : it's not just customer; it's customers value feeling. And the right side is: cash flow and margin. Marked as spam
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Moshe Engelberg
AMIR - your comment speaks to the essence of marketing- it's all about an exchange of value.
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Joseph "Jay" Houser
A very wise, and successful CEO told me once that if you make the customer happy, the money will come. She has been doing this for well over 30 years and continues to grow year to year. There is an issue with reaching forecasted targets, especially if the senior staff thinks the real customer is the stockholder, although this has to be kept in perspective. Forecasts are predicated on a number of factors, but not always predictive of competition, changes in disease states, the economy blips, etc. Good products delivered at fair prices, with solid service builds loyalty. Loyalty brings solidarity to the profit line so expansion to other customers/segments/new product areas can be used to reach expanded growth.
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Larry Brewton
I think every comment here speaks the absolute truth Moshe but let me add MY 2 sense(cents). If a business is focused ONLY on profits, and NOT sales...THAT business will NOT be IN business for very long. A satisfied customer will sell your product/service for you better than you ever could. If you're working for a short-sighted company such as the one you've mentioned here...GET ANOTHER JOB or YOUR future will be the same as theirs.
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