Six steps to successfully selling to the healthcare industry
In selling to C-Suite executives in the healthcare industry it’s important that you’re calling on the relevant executive for your sales opportunity. The first thing salespeople need to do is “sit on the other side of the desk” and view their sales opportunity from the perspective of the client executive.
To start, think about the day-to-day complexities that C-Suite executives in the healthcare industry are continually dealing with. Attend seminars and workshops and develop your online knowledge using industry sites, professional organisations, LinkedIn industry groups and other sources.
Keep up-to-date with the latest changes in local laws and state regulations using tools like Google Alerts and other media monitoring services. Make certain you can “speak their internal company and industry language” using appropriate healthcare metrics and terminology.
Before you meet with any executive in the client organisation, have a firm understanding of the hospital’s organisational structure, as well as their current financial position. How does this hospital, hospital group or other healthcare organisation compare with its competitors in this arena? What’s their position in the industry? What makes them different and what makes them stand out from their competitors? Here are six steps to start selling to C-Suite executives:
1. Identify the relevant executive for the sales opportunity
You can’t always start with a connection to the relevant executive, and it may take you some time to identify and align with that executive. However, keep the concept of the relevant executive in mind as you navigate the political dynamics of the client organisation.
Start by determining if your solution can address business issues associated with some of the key initiatives the client is currently pursuing. Test your conclusions by determining if the executive you have identified (as the relevant executive) does indeed have the most to gain or lose as a result of the application or project that’s associated with your sales opportunity.
2. Determine how best to approach the executive
The next step is gaining access to that executive. When executives were asked about the best ways to gain access to them, they responded that the best way to gain access was through a credible sponsor within their organisation; either a lower-level executive or using the gatekeeper as a resource. 84% of the time those senior executives said they would grant a meeting to a salesperson if someone within their organisation recommended they do so.
3. Perform the appropriate discovery prior to the initial approach to the executive the initial approach to the executive
Here’s where many salespeople miss the mark. Make sure you’ve done your homework before approaching any key player in the client organisation. Keep in mind that every interaction with an executive provides you with a chance to either advance or dilute the relationship. Do your homework before the meeting - focusing on what’s important to the executive.
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4. Conduct an effective initial face-to-face meeting with the executive
Prove to the executive that you have done your homework and have insights that could deliver value to the executive. Think about how you will open the meeting. Develop an understanding of the client’s internal or external business drivers -- those pressures that create the need for change -- perhaps, the need for a new solution or a new approach. That’s where sales opportunities initially get forged.
Many executives said they expect salespeople to be prepared for their meetings with them. Moreover, executives use their first personal meeting with a salesperson to qualify the salesperson, just as the salesperson is trying to qualify the executive. Research conducted by International Data Corporation (IDC) in 2014 determined that more than 63% of senior executives are using LinkedIn as a resource in key buying decisions – so make certain your LinkedIn profile reflects the value you could deliver to executives.
5. Demonstrate a consistent level of integrity and capability over the long-term
Credibility is the intersection of capability and integrity. Demonstrating both of those traits over the long-term enables the salesperson to become perceived as a trusted advisor to the executive. Don’t expect credibility to be gained on the initial call. You will have to earn the executive’s trust over a longer period of time. Do this by demonstrating both your technical skills and your personal integrity, focusing on the client’s business drivers and key business issues. Frame your value in the context of the client’s world.
6. Consistently communicate your value to the executive
After your solution has been installed and delivering value to the client, make certain that you communicate that value to the executive. Don’t assume that the executive fully understands the value your solution has delivered. In fact, take it a step further and find a way to consistently communicate your value on an ongoing basis, using the client’s metrics and terminology. Make certain the executive fully understands your past value contribution -- the value you have continuously delivered to the client organisation.
In a critical meeting with a C-Suite officer of a Fortune 500 company, we asked, “Why would someone at your level ever agree to spend time with a professional salesperson?” The executive’s answer was simple:
“In my experience, professional salespeople offer me suggestions about solutions to business problems that even people in my own organisation can’t develop. Some of these salespeople have encountered similar problems in other organisations and have creatively addressed them. That’s what I expect from salespeople who want to have a trusted advisor relationship with me.”
In this simple answer is the code that will unlock almost everything salespeople need to know about selling to executives. In today’s wireless world, executives know more about your offerings and your competitor’s products than you can tell them in 60 minutes. Executives want salespeople to be professional, be conversant with the executive’s business problems (or opportunities) and prepare a call plan that delivers some level of value to them.
Use these six steps as a framework to the way you interface with C-Suite executives in your healthcare accounts. Internalise this process and put it into action in a structured, repeatable fashion. Take the time to review these steps with your manager or other sales executive to determine if they have any additional suggestions that can help you leverage
Zoom enters the healthcare market - a timeline
Since the pandemic began Zoom has become an integral part of daily life for people working from home, as well as a vital tool for families and friends to communicate. However it's also been eyeing up the healthcare space since 2017, and following the boom in telehealth the company has been rolling out additional services. Here we chart Zoom's move into healthcare.
2011 - 2013
Zoom is founded in San Jose, California, by Eric Yuan, formerly of Cisco. He got the idea to create a video calling platform from his visits to his girlfriend while he was a student, which would take 10 hours by train.
A beta version is released in 2012, which can host up to 15 participants. In 2013 this rises to 25. By mid-2013, Zoom has 1 million users.
2014 - 2017
Zoom attracts investors, including Sequoia Capital, Emergence and Horizon Ventures. By January 2017, Zoom has a series D funding worth $100 million.
2017 - 2019
Zoom for Telehealth launches, including an integration with EHR system Epic. It has cloud-based video, audio, and content sharing features, a "waiting room" for patients, and can easily be integrated into healthcare provider's workflows.
In 2019 Zoom goes public, with its IPO rising 72% in one day.
As a result of the pandemic, Zoom gains 2.2 million new users, more than in the whole of 2019. On the 23rd of March alone - the day the UK lockdown was announced - the platform was downloaded 2.13 million times around the world.
Share prices rise to around $150, and founder and chief executive Eric Yuan becomes one of the world's richest people, with an estimated net worth of $7.9 billion.
Early security issues are addressed by encrypting data with the Advanced Encryption Standard (AES). By now the the platform allows 99 people to be on a call simultaneously
New features launch, including Zoom Home and Zoom for Chats. Throughout the year the platform is used to replace most kinds of real life events: work meetings, online classrooms, church services and social events.
Renamed Zoom for Healthcare, users can share secured video, audio, and content through desktops, mobile phones, and conference devices. As well as Epic, it can be integrated with Strmr, IntakeQ, and Practice Better.
It can also be used with diagnostic cameras and other point-of-care devices, including digital stethoscopes.
In an interview with Korea Biomedical Review, Zoom Global Healthcare Lead Ron Emerson said: "Our service is not simply a virtual care and telemedicine platform but a multi-purpose platform that can satisfy the needs of healthcare institutions."
"It can be used for administrative tasks, including telemedicine, medical team meetings, recruitment, medical education, employee training, and disease prevention. Analysing electronic records managed by Zoom could provide meaningful insights into patient care."
Phoenix Children's Hospital, Belfast's Hospital Services Limited, Butler Health Services and the global Project ECHO are among Zoom for Healthcare's current customers.