How to Be Successful in the Competitive World of Medical Sales

Working in medical sales can be an extremely rewarding career. However, it also comes with its fair share of challenges. Fierce competition, constantly evolving products, and pressures to hit aggressive sales targets are par for the course.

If you want to thrive in this fast-paced field, it takes dedication, organization, and the ability to build strong relationships. In this comprehensive guide, I’ll share insider tips and strategies to set yourself up for success in medical sales.

Choosing the Right Medical Sales Career Path

There are a few common medical sales roles to consider when starting your job search

• Pharmaceutical sales – Promoting prescription medications and vaccines to doctors, hospitals, and clinics. One of the most lucrative options.

• Medical device sales – Selling equipment like MRI machines, pacemakers, surgical tools, and more to healthcare facilities.

• Biotech sales – Focus on innovating biologic drugs, gene therapies, and lab equipment. Rapidly growing niche.

• Dental sales – Specialize in tools and technologies used by dentists and orthodontists. Less travel usually involved.

Evaluate each area and choose one that fits your background, interests, and earnings goals. Many sales reps start out gaining experience at a large manufacturer before moving into more senior or specialized roles.

Developing Core Medical Sales Skills and Qualities

To impress hiring managers, you need the right mix of sales abilities and personal attributes:

• Communication skills – Build rapport through clear explanations, active listening, and reading body language.

• Product expertise – Understand the technical aspects inside and out to answer all questions confidently.

• Persuasion – Influence customers by focusing pitches on value propositions and ROI.

• Interpersonal skills – Form and maintain positive professional relationships.

• Problem-solving – Quickly troubleshoot issues and determine solutions. Handle objections smoothly.

• Resilience – Persevere through constant rejection and “no’s” to make the sale. Don’t take it personally.

• Organization – Juggle preparing for demos, paperwork, CRMs, travel and expenses efficiently.

• Competitive drive – Be motivated to go the extra mile to exceed quotas and outperform peers.

Develop these attributes through education, past sales roles, and subtle personality traits.

Getting the Required Medical Sales Training and Education

A bachelor’s degree is required for most medical sales positions. Helpful majors include:

• Biology
• Chemistry
• Biomedical Engineering
• Nursing
• Pharmacy
• Healthcare Administration

Coursework in anatomy, physiology, and pharmacology give you foundational knowledge about products.

Many employers also want 1-3 years of direct sales experience in a related healthcare field. For recent grads, working as a sales development rep or in an inside sales role can help build skills to transition into the field.

Ongoing medical sales training is also key. Pay close attention and participate in required company onboarding and regular product update sessions.

Seeking additional courses or certifications in areas like clinical processes, regulations, and emerging healthcare trends can further boost expertise.

Mastering the Medical Sales Process

Success comes down to diligently working each stage of the sales cycle:

1. Identify prospects – Research needs of hospitals, doctor’s offices, clinics, surgery centers, etc. Get introductions through networking.

2. Initiate outreach – Make first contact by personalized cold calls, emails, LinkedIn messages, etc. to pitch scheduling a meeting.

3. Qualify leads – Assess if prospects truly have pain points your product can solve. Disqualify time wasters.

4. Conduct demos – During in-person meetings, explain how your offering solves their challenges. Engage through questions.

5. Address objections – Anticipate and alleviate concerns around pricing, integration, change management, etc.

6. Close the deal – Skillfully ask for the business and gain commitment to purchase. Provide pricing and contract details. Handle paperwork.

7. Offer implementation support – Guide proper product deployment, training, and troubleshooting during onboarding.

8. Follow up – Check in regularly post-sale to resolve issues, upsell, and maintain the relationship.

Persistence through many demos and tailoring each stage to the customer is vital. Patience is key – enterprise sales cycles easily span 6-9+ months.

Achieving Sales Goals Through Effective Time Management

With extensive travel, constant product education, tailoring pitches, and managing dozens of prospects at once, organization is essential to hitting targets.

• Plan weekly in advance – Block time for travel, meetings, admin work, and follow-ups in your calendar. Include buffer time.

• Start early – Get a head start on scheduling demos, customizing presentations, and other preparatory tasks. Avoid last minute scrambling.

• Limit distractions – Silence phone notifications and close email during deep work times to maintain focus.

• Automate where possible – Use tools like CRMs to track leads and template common documents to save effort.

• Review progress – Analyze weekly reports to understand activity levels. Make adjustments as needed.

The most successful reps run their days with military-like precision optimized around revenue-driving activities.

Employing Tactics to Stand Out from the Competition

Rising above the fierce competition starts with bringing unique value:

• Emphasize ROI – Quantify how your solution drives costs down and efficiency up compared to alternatives. Provide case studies.

• Upsell add-ons – Mention complementary accessories, software integrations, servicing packages, etc. that enhance the value.

• Offer perks – Highlight benefits like free trials, white glove setup, responsive support, financing options, etc. that competitors lack.

• Wow with resources – Develop visual sales aids, comparison charts, implementation guides, and other tools prospects find helpful.

• Leverage existing rapport – When contacting past accounts you’ve worked with, emphasize your history solving their needs.

• Focus on patient outcomes – Keep discussions centered on how your technology improves quality of care and saves lives.

Customizing your process around what matters most to prospects distinguishes you from competitors.

Expanding Your Medical Sales Network

Expanding your professional network is invaluable for generating referrals and insider intel. Ways to develop connections include:

• Attend medical tradeshows and conferences – These let you connect directly with prospects and KOLs.

• Join industry associations – Great for meeting peers like hospital purchase managers. Offer to present.

• Do informational interviews – Ask sales leaders at your company or other firms for career advice.

• Volunteer – Nonprofits focused on healthcare access appreciate business skills.

• Stay in touch with past colleagues – Check in with old coworkers, managers, etc. and exchange industry news.

• Mingle at local events – If you meet doctors or healthcare admins socially, ask to exchange business cards.

Expanding your network both widens your funnel of potential leads and gives you insider advice to help secure deals. Make relationship building a priority.

Handling Rejection and Persevering

With rejection being extremely common, resilience is mandatory. Use these tips to power through “no’s”:

• Reframe rejection – View hearing no as getting one step closer to the next yes. It’s part of the process.

• Don’t take it personally – The decision often boils down to budgets or existing supplier contracts, not you.

• Analyze lost deals – Identify what you could improve for next time like tailoring messaging or adding perks.

• Vent constructively– Release frustration to a mentor or coworker in a solutions-focused way. Don’t gossip.

• Focus on activity goals – Measure progress through lead generation and demos booked vs. only closed deals.

• Celebrate small wins – Recognize progress milestones like scheduling 5 meetings in a week.

Persistence through many nos eventually leads to yeses if you continually refine techniques.

Keys to Advancing Your Medical Sales Career

Once you get your foot in the door, shine by:

• Consistently exceeding quotas – Hitting accelerators and clubs through strong performance opens doors.

• Seeking leadership roles – Apply for sales manager or director jobs to climb upward.

• Earning certifications – Completing respected programs like CSOM enhances credibility.

• Publishing or presenting – Contributing original research or speaking at conferences builds your reputation.

• Switching companies – Leverage your track record to land roles with increased base pay and commission rates.

• Joining growing players – Move to roles in the hottest medtech subsectors.

Strive for continuous self-improvement and remain open to new opportunities to steadily progress.

Final Thoughts

With strong work ethic and the right strategies, a lucrative,