Know-How Exchange : Strategy

What do you have against salespeople? You will spend infinitely more on other methods-- while a good performance based rep already knows the players and has the relationships. The docs are busy, but once you build the relationship, their doors are open.

Why don't you set up dealers or idstributors with companies that sell related but non competing products. People who set up doc offices, or sell the supply side for example. Then their staff is selling for you.

Carol

As a marketing strategist, and direct marketing expert, I can see both points presented here by Carol and NuCoPro. And in all likelihood I would personally test both ends.

First off, you can get lists of doctors by practice, so direct mail is a for sure medium to work on immediately. for just that fact, you can have your message in their office in a month or less.

On the rep side, I feel it may take some time to get the right reps found and set up. While they have relationships with the doctors, many will have lines that do not allow them to pitch other products. So it is not as immediate as a direct mail piece.

Of course, a good PR plan would also be in order.

I (though not a doctor myself), come from generations of docs, people who dont have the time to listen to others who want to just sell things for the sake of it.

What they want is loyalty from the company and the assurance that what they are buying is something that is worth it and that would help them in the long run, financially and in terms of patients.
I would say that you check out this aspect.

As 'schulte' basically said, having a rolodex of the customers you want to sell your product to is probably the best thing to start with.
Next would be to prioritize them in terms of importance. I know this sounds rather cold, but if there's somebody whom you think you know rather well and who would be more suseptible to what you have to say, well they get a higher priority. It is to THESE top ones that you should go to yourself, set the line, and make them understand that you believe in what you're selling.
Peers and Word of Mouth is another thing you should be leaning on while focusing on your PR plan.

Direct Mail is the best option because it enables you to market specifically to your selected audience and is cost effective. What type of mail piece you utilize will depend largely on your budget. The least expensive direct mail vehicle are postcards, which typically pull a response of approximately 1%. A step up in cost, but not necessarily in response rates, is a letter sized card or self-mailer. Slightly more expensive would be a letter in an envelope, which generally produce a response of 1%-2%. I encourage you to mail a parcel, which will cost more than the other options, but statistically pulls the highest response rates. Parcels get opened. The additional cost will probably mean you will need to mail to a smaller list, but is worth it because dollar for dollar parcels always outperform mass mailings.

To put my two cents in. Medical field is overloaded with marketing messages. The attention span is very low. If you are in start up company without any brand behind you - there is no way DM pieces will be helpful in penetrating the field.

I am wondering where did Erik got the response of 1%-2% for a letter in the envelope. I doubt these are statistics from the DM to surgeons.

Just imagine how many pieces these surgeons receive and how much stuff they have to read anyway. The possibility of reading a marketing piece from a company they never heard about is slim to none.

You need sales people - hire them on full commission, but give them a big share otherwise you won't be able to attract quality sales people. Even though they cost a lot, you have to do this in any start up company.

Otherwise you will spend a lot of money on marketing that won't work without sales people anyway

A few other ideas:

Approach the surgeon's insurance companies, since your product will reduce their financial exposure.

Approach the local hospitals, co-marketing with them to host a demo/seminar.

Since personal recommendations from one physician to another is a key driver to success, you should find a way to first identify the most influential surgeons, ie most respected, having a top appointment, a community or specialist "name," etc. and then present the device to them. Let them know that they were specially selected and if it makes sense, offer them some incentive ( ie discounted cost?) to test drive the new product. Maybe include the opportunity to make a presentation on this product at a key meeting where you pay their expenses and a companion's plus a weekend at either end- the free vacation plus meeting deal. Once you have the support of this essential referral basse of renowned docs, hopefully they will rave about the device and spread the good news leading to orders, buzz, popularity, all word of mouth marketing which in the medical community carries plenty of clout because change is based on trust in the device and proof of its value/effectiveness/safety/product support, etc.

DebraFeldman, JobWhiz

Hi:

I am not a doctor but I think that if you have the money to put together a small box advertisement to send over the mail it would be very effective. Inside the box put two samples of 'surgical" result examples, the most realistic you can get, be creative. One that didn't use your product and ended in a bad ugly result and the other that did use your product and looks great.

Good luck!

I have read all suggestions and that are related to administrative and selling cost. My point of view is you may avoid sales and marketing cost as only as salary. But other variable cost would definitely appear i.e. costing, prizing, market research and other administrative and management cost.

here are some suggestions -

1- strategy should be first start with your own city and surrounding towns and villages, collect all relevant information i.e. number of doctors, senior -junior doctors, doctors association, nursing association, number of hospitals in area, total number of companies exist in equipment market and their dealers information , dealers commission, distribution Tier systems if there any wholesaler, retailers etc.
2- Based on these data set the COMPETITIVE PRICE with absolute after sales service including maintenance, servicing or some time warranty period
Prize would include variable cost including- commission and other manufacturing cost labor, material etc.

now process begins for selling -

3- try to capture free lancer and commissioned based person. Divide your city into 5-6 segments and allot this segment to commission based person. Please note - detail them about product and service offered. Product and service training play a vital role in equipment selling. Monthly Target also should be set for each individual or each team.
A catalog mentioning all products, pries and service provided by company - should always be with persons.

4- at the same time try to capture competitor’s dealers network. This only be materialized through high commission or through flexible credit limit say - 20-22 days after occupy equipment.
While doing so arrange a get-to-gather with all dealers - here note that 80:20 ratio would work and say if 20% of dealers attend this meeting, your product would definitely racketing.

5- - make segment by segment invasion plan and try to involve all doctors. Arrange some seminars and provide detail information about product and service. Note that this should be only HI-TEA get-to-gather. "save unexpected cost".

6- try to arrange a free trial camps - in which doctors may see how this machine works and also may explore about accuracy of rebuts.

7- As this is a initial phase so try to include first two free servicing within 3 months and also try to include proactive marketing - in which you call them time to time after selling of equipment and try to take some suggestions and complaints for improvement of your product.

there are very vast strategy for this due to shortage of time I am binding up.

Thank you.

if needed You may email me on my email ID - [Email address deleted by staff]

Did I miss something - is there a reason why you might not be really successful if you tried to match yourself up with a company that is already in the market? Maybe you'll get as wealthy as you need to be by selling your idea/product to one of the big guns rather than trying to pound it out yourselves. Get your patent and if it is as good as you believe it is - the big guys will want it.

Just another idea to consider.

Good Luck!
CVN

Many doctors have office managers who take care of the financial and personnel side of the business. Target to them. take them to lunch and tell them about what your product can do for them. If they believe that the product will benefit the practice, they stand a lot better time of convincing the doctors. Good luck!