In August, a first-of-its-kind drug was approved by the FDA for amyloidosis, a rare but fatal disease. Exciting innovations like this are what keep the medical sales field moving forward at an unprecedented pace.
However, new drugs, treatments, and technologies aren’t always met with open arms. Whether it’s a lack of knowledge, limited case studies, or even price, clients are often hesitant when you walk into their office with a product that’s fresh on the market. The new amyloidosis treatment, for example, is expected to reach an annual list price of $450,000, or $9,500 per vial, according to MedCityNews.
Even if your new product prices don’t come close to a whopping $450,000 a year, clients are always wary of ‘the next best thing’ on the market. Their hesitations won’t keep you from getting out there and selling the product, however. As a motivated sales rep, you know there’s always a way — you just have to find it.
We’re here to help you do just that. Here’s how you can successfully introduce new products to your clients:
Save your energy and target
Not all products are created equal — and neither are your clients. Before throwing darts at the board, take a moment to consider which people on your list are proven risk takers. These progressive movers and shakers are the clients who are always pushing the envelope.
They don’t want to sit by and patiently wait as their patients deal with ailments. Instead, their goal is to find what’s new, give it a shot, and do their best to advocate for their patients. You likely already have solid relationships with these clients. That’s because they’re genuinely interested in new products, and trust you to bring them the best products.
It’s also critical to narrow down the clients whose patients will directly benefit from what you’re selling. While this seems simple, some products have such a wide-spread target market, it is difficult to determine where to start.
Begin by analyzing each clients’ demographics, needs, former questions, and concerns. Then, create a list mapping out which clients, and their patients, need your product most.
Advocate for in-house research
Medical sales research and development teams are doing their best to keep up with demands. But remember, they aren’t mind readers. When a new product is pushed to market, your research team couldn’t begin to assume the questions clients and the general public will throw your way.
Once you’ve pitched to a few clients, bring their comments and concerns back to the office. Discuss what research is already on hand that can resolve some questions and what needs to be done to get this product moving out the door.
After your initial meeting with research and development or company leaders, immediately follow-up with clients. Let them know you heard their concerns, have taken them seriously and motivated your team to find answers and/or results. A simple task like this instills a great deal of trust and knowledge that you’re doing what’s best for them and their patients.
Dive into the approval process
New products may not have a pile of case studies or educational materials back them up, but they didn’t show up out of thin air, either. A process, starting with funding and ending with the FDA’s approval was followed and documented.
Discover the story behind your product:
- Who funded the initial project and development?
- What passions or motivations did the funders have to put money into the project?
- What hole in the market or need is the product filling?
- What process did it go through to reach FDA approval?
Make a list of your responses to further cultivate trust with clients. By presenting your findings, they’ll see you’re not walking through the door with the next product your sales manager told you to sell. What they will see, however, is a medical sales rep who cares about how a product got to market and the passion that went into its goals of providing a better future for patients.
What tips and tricks do you have when it comes to introducing new products to clients? Share your secrets!