Smart Sales Strategies for Niche Markets
Selling to Group Medical Practice Businesses
Businesses that sell to group medical practice businesses face internal and external barriers to success. If your company has a history of not making your sales quotas, maybe it's time to start selling to group medical practice businesses.
Initiative and perseverance are admirable characteristics for sales professionals. But selling to group medical practice businesses requires more than an impeccable work ethic.
A strong value proposition and a great strategy are requirements for companies who sell to group medical practice businesses. Despite the presence of market barriers, emerging companies can gain traction by applying a handful of proven sales principles.
Sales Strategy Tips
Effective group medical practice business sales strategies combine sales and marketing techniques with an eye toward ROI. Some sales techniques are more effective than others and the ones that maximize ROI need to be prioritized.
Also, it's important to avoid a silo approach to group medical practice business sales. Companies that isolate their sales units fall behind in the marketplace, especially when they compete against companies that encourage collaborative processes between sales, marketing and other units.
Reaching Prospective Customers
Prospecting transforms contacts into qualified leads.
Networking can fine tunes prospecting performance and conversion ratios. However, it's important to make sure your sales force isn't so focused on adding names to their contact list that they miss the point of prospecting, i.e. the identification of likely buyers, key decision makers and high value industry contacts. In other words, the type of people you meet is just as important as the number of people you meet when prospecting for group medical practice businesses.
Lead lists are useful because they narrow the field for your team. Third-party lists from reputable vendors (e.g. Experian Business Services) arm your sales force with good leads, making it easier for your company to balance the quantity and quality demands that are prerequisites for effective prospecting.
It's also important to design processes for the review of your sales force and selling strategy. Internal review processes should be based on quantifiable data as well as direct input from group medical practice businesses themselves.
If necessary, take action to reshuffle your strategy and team in order to accommodate changes in the marketplace.
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