Five Questions SMB MedTechs Should Ask Their Reps Before Purchasing a CRM


Customer Relationship Management (CRM). Those three promising words. We know we need it, but what do those words really mean? I’ll answer like a lawyer – it depends on the business you’re in. In the world of healthcare B2B, it means a highly complex and dynamic environment that is heavily regulated and increasingly fickle about product value.

For smaller MedTechs, the decision to invest in a CRM may seem an obvious yes – or must. Especially if your work (and increasingly home) life is about managing information in a dense multi-tabbed spreadsheet that goes back and forth between reps, managers and business analysts. How many episodes of Homeland or bed time stories with your kids have you missed because you’re up on a Sunday night wrestling with a 40 column 20-tabbed spreadsheet in time for a Monday meeting about the week’s sales calls ahead?

At this point your team may be small, but they are seasoned MedTech professionals that need to sell value across a variety of stakeholders. They’re charged with aggressive goals and you want to give them everything possible to succeed. Before you take well intentioned steps to enhance your sales organization with a CRM system, ask yourself – or better yet – ask your reps, the following questions:

1. Has your experience with using a CRM been a positive one?
2. Be honest, did you use it just to record opportunities for finance?
3. Did you get a truly rounded idea of where you stood with a customer?
4. Did it help you and your manager streamline communications with each other on customer and account trends?
5. Did it truly mirror your medical device sales world or did consultants over engineer it so managers could keep tabs on you?

At TikaMobile, we’ve heard it over and over again from MedTech reps – “we are not, nor do we want to be, pharma reps!” And as a forward thinking leader, you know it’s not a great option to try and mandate or force talented reps to do anything. You run the risk of losing great talent.

The “we are not pharma reps” comment truly inspired us to build and keep improving TikaDevice. We designed the powerful mobile application for reps by reps with the understanding that high rep adoption would lead to more successful product launches and an increase in the market share of existing products.

If you’re leading the sales organization of a young company ready to launch a product then this is the most opportune time to get your reps armed with the best information on their customers in an app they will love to use. They won’t have to go digging for that information – TikaDevice publishes it to them when and how they need it. Naturally, this will have a positive impact on sales, but it will also have a positive impact on your company’s valuation. With a powerful self service analytics platform you will be able to tie revenues to cases done by physicians as well as demonstrate specific markets you’ve penetrated. For example, TikaDevice segments customers in a way that drives your strategy. Be it early adopters or physicians who were more prone to prescribe medication rather than surgery – your team will be focused on the most high value customers based on the latest information.

In conclusion, standard CRM is a data collection tool – and your reps know it. It needs many expensive and time consuming adornments to become a true analytics partner in your product launch. TikaDevice collects data automatically from any source – anywhere – anytime. It can scale as you grow and is flexible to your specific business needs. The burden on reps is minimal, but the insights it yields are immense – and that drives adoption, which in turn drives performance.

For more information about how a MedTech CRM like TikaDevice is different from a generic CRM, or can extend the value of your existing CRM – contact Jim Badasarian.

Top 5 Things TikaMobile Overheard at AdvaMed 2015

 


5. The future looks bright for MedTech Innovator winner MobileODT and three finalist companies MedAwareBriteseed and uBiome, and the patients they will help.

4. The $30 billion medical device tax is bad for the industry as it harms job creation, deters medical innovation and increases the cost of health care.

3. Mobile MedTech is at the forefront of patient-centered care thanks to digital technologies.

2. MedTech and Biotech Veterans Program (MVPvets) is a program to help veterans enter the medical technology industry through mentorship and re-careering events. Thirty veterans in attendance at the conference attended a daylong session to gain familiarity with career options throughout the industry.

And the number 1 thing we overheard at AdvaMed 2015 was:
MedTech companies are incredibly challenged reaching health care providers about the value of their products using traditional sales and marketing methods. They need a way to speak intelligently to multiple decision makers and funnel what they hear back to the home office in the most expedient manner possible.

AdvaMed 2015 was TikaMobile’s first experience with the conference. Everything we overheard and discussed with major industry players confirmed that what we are doing at TikaMobile is exactly what the industry needs. We look forward to participating with AdvaMed in the future!

Why Trunk Stock is a Hit Feature With our Medical Device Customers

 


When we developed TikaDevice, we considered all of the concerns of Medical Device sales leadership and prioritized features that would help improve revenues and ROI. When we put the question to our customers, they added that managing inventory in the field, aka trunk stock, is an especially challenging and costly aspect of medical device sales. While it is generally considered part of supply chain logistics, the field reps can play a critical role in inventory management.

TikaDevice’s Trunk Stock alert let’s a rep know if a customer’s inventory is high or low so they can proactively manage consignment. Considering the high cost of some of these innovative medtech devices, the savings are substantial when inventory can be tracked end-to-end and no device falls through the proverbial cracks. In today’s world of big and dynamic data, even small companies cannot continue to rely on spreadsheets alone.

Not to mention, if a physician runs low on your device it’s an excellent opening for the competition. That sort of blind spot can quickly erode at market share and the bottom line.

On the back end of our application we’re able to integrate a variety of enterprise data assets including those found in basic and advanced inventory management systems including ERP. For smaller companies we can download regularly updated information in spreadsheets. This information is integrated and correlated with a variety of customer data points via sophisticated analytics keeping field reps in the know with guidance on what to do – where they live – in their cars!