Do Your Research
“What’s the latest advancement?” a hospital executive might ask. “Will Medicare reimburse the cost?” Know the answers. Preparation plays a major role in creating and maintaining High-Return Relationships. Research can mean the difference between short- and long-term success for these all-important connections. Every good healthcare salesperson knows the product or service inside and out, keeps constant tabs on the competition, and anticipates objections. That’s a given. The great salespeople take their research to another level. They carve a competitive edge by incorporating the latest industry news and information into their value propositions (see the sidebar “Pave Your Way by Leveraging the ACA”), and they put in the time up front to evaluate a prospect’s long-term growth potential in a process known as prequalification.
- Prequalification: The process of evaluating a prospect’s long-term growth potential.
You must prequalify a potential High-Return Relationship to ensure that you can satisfy each other’s needs. How?
- Talk to others in your professional network—colleagues, clients, and business associates—who have engaged with the prospect. Ask about their experiences. See if they think the prospect is a good fit for you and for your healthcare products or services.
- Get involved in professional/trade organizations (visit http://selling-healthcare.net/index.php/resources/trade-organizations for a list). In addition to the wealth of industry-specific knowledge such memberships offer, they provide excellent opportunities to rub elbows with prospects and others who know them.
- Do online research. It’s amazing what you can learn when you Google a prospect.
- Ask key qualifying questions over the phone or during your initial drop-in before you set up the first face-to-face meeting.
No big investment of time is required to pave the way in preparing for more productive High-Return Relationships. And the more time you spend out in the field, the faster you’ll identify your ideal partners, the people with whom you need to connect to grow your business.