Let's face it, selling medical devices has changed and you have to adjust to that change or you're dead. If you don't know how to direct market medical devices you're toast. The old expensive model of humans inefficiently getting leads and schmoozing Doctors is over.
Here's the quickest adjustment you can make to super charge your profits--sell the people you just sold something else that's a synergistic offer to your first sale.
Let me say it again!
THE EASIEST SALE TO MAKE IS TO SELL THE PERSON YOU JUST SOLD SOMETHING ELSE!
It's so obvious but I haven't seen anyone yet in the medical device direct marketing space do it.
Direct to consumer medical device companies need to wake up and realize that after spending all the cost to acquire a customer they can reduce that acquisition cost dramatically just by selling their new customers something else. Maximizing lifetime value or LTV of the customer is critically important--it can change your business model in a matter of days.
Most of you, (99.9% in my opinion) make one sale and then say goodbye to the customer forever. It's insane; but it's what you do because you don't know any better. After you make your sale with a high sales cost you go back to the pond and try to sell another person.
Why not get an item (or better yet, items) you can sell to your customers that buy your initial product and sell to your newly acquired customers.
Better yet, why not annuitize your customers with an on-going auto ship product that has to be bought over and over again?
Work your current customers and increase the unit of sale with back end products. Don't get hung up on whether insurance will reimburse you or not just start testing legal, ethical, synergistic offers. This also appears at direct to consumer medical marketing.
written by Brad Richdale
Direct Marketing Medical Devices by "Brad Richdale" ®
