She never planned on breaking into the medical sales industry. But as a single mother of four, Marie Cosgrove needed something that would fit her family’s needs. So she turned to a commission-only sales job that would provide flexibility and necessary income to cover her children’s healthcare.
Now, Cosgrove has twenty-five years of experience in high-end capital equipment medical sales, trains sales teams, published a book, and is the majority stakeholder at balanceback.com.
When she first started, people told her she would never make it in such a male-dominated industry. Yet, Cosgrove quickly rose to the top. She performed so well, the company ended up letting her go; they weren’t willing to pay her the high commissions she’d earned.
Cosgrove wasted no time. She started her own company and, two years later, bought out the one that had fired her.
Here’s what Cosgrove has to share for women in medical sales today:
A mindset of serving.
Get into the mindset of serving. Often, sales reps focus on the high dollar potential commission check — they lose sight of the fact that sales is not about you. Sales is actually about solving a problem for someone. Once you are focused on serving, you can accomplish the above and have long-term success, increasing your sales and earning high commissions.
To ensure your mindset is in the right place, you must know how your product or service:
- – solves your client’s problem or pain point
- – benefits your client or who they serve
- – increases revenue and saves time for your client
Recommended Reading: Shift your mindset to improve customer relationships and sales numbers.
Understand your clients.
To increase sales and earn a high commission your communication style matters. For example, if your client cares about data/facts, present data/facts to communicate! If your client only cares about benefits, and not data, don’t waste your time presenting data, present the benefits.
Also, be sure to communicate common interests you share by finding common ground with your client. Do you share the same hobbies? Did you go to the same school? Do you like the same sports team? Etc…
And of utmost importance, do they genuinely have a need for your product? Many sales people try to sell to someone who does not need your product or service, which is a time waster.
Recommended Reading: Never lose sight of nailing a great first impression in medical sales.
Don’t take things personally.
In healthcare we work with clinicians who experience a high level of burnout and stress. Therefore, sometimes clinicians will appear rude, mistreat or disrespect you. Don’t take it personally! It’s not about you. They generally have something going on internally, and since you are there, they find it convenient to take it out on you.
I’ve gained many sales by not taking it personally, where others would have walked away and lost the sale. For instance, while doing on the job training with a young beautiful confident woman, the doctor declared, “Look, do you know how much money I make? I don’t have time for you, I don’t even give Jesus the time of day”, plus he added a few other choice words not appropriate here!
I sensed the doctor’s narcissist attitude but remained calm and collective. I knew the doctor only cared about himself, so I didn’t present data/scientific evidence–I only featured the benefits to him personally and to his practice.
He bought six pieces of equipment at 35k a piece.
Tips to succeed.
Women add a lot of value in the healthcare industry, resulting in benefits to the industry from our unique skill sets allowing us to be a part of the solution to improve patient’s healthcare needs by delivering much needed lifesaving diagnostic devices, treatment devices, pharmaceuticals, or healthcare services.
Women also tend to be collaborative by nature and work well in teams. This is an essential skill set when providing a product/service to a hospital or clinical team. Women need to remember these tips, and they’ll see great success in their medical sales career.
- – Walk away from whatever might be holding you back and focus on the future
- – Overcome fears and respond to disappointment in a constructive way
- – Prepare for success and build upon it
- – Prepare for failure and learn from it
- – Step up your game by being bold and taking calculated risks after setbacks
- – Jump on opportunities whenever they arise (especially in challenging times)
- – Deal with toxic people, cutthroat competition, and bias in the business world
- – Embrace the future and give back to others to cultivate continuous growth
To expand her reach and support more entrepreneurs and women in medical sales, Cosgrove shares her top tips and learning experiences in a book titled Greater Fortune. The book is available on Amazon, Kindle, Audible, Barnes & Noble, and anywhere books are sold. It was voted the top business book of March 2021.