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Medical Device Healthcare: Developing a Strategy for Ensured Success

Executive Summary

A biotech and medical device company, which had been in business for 10 years and employed a team of 30 people, had no sales manager or sales team. Their limited sales efforts were restricted to family and friends. The company had little knowledge of CRM, no key performance indicators (KPIs) in place and generally stalled out when it came to sales. To bring the company quickly up to speed with their sales process, they decided to hire an Outsourced VP of Sales to diagnose their current setup and help them develop a strategy that would ensure success moving forward.

The Big Win

Grew sales over 600%, hired two sales hunters, and drove new product adoption among prospective customers.

Developing a Strategy for Ensured Success: Healthcare Case Study

Challenges

  • No dedicated sales team
  • No sales process
  • Limited use of CRM
  • No sales leadership
  • No new rep onboarding plan
  • Needed a compensation plan and job description
  • No experience hiring sales hunters

Solutions

Our Outsourced VP of Sales helped us create an ideal candidate profile in order to hire two new sales representatives. They worked to accurately determine the strengths and qualifications needed for the position.

A compensation plan was developed to motivate and reward sales representatives who exhibited the desired behaviors. In addition, they implemented a new sales process with clear-cut objectives that had to be met in order for the employees to succeed. This process included key deliverables that were expected from each employee in order to ensure maximum efficiency.

Our OVPS created a comprehensive sales playbook for the company to use for future training. With this playbook, the team has been able to swiftly drive success and establish a foundation for long-term growth. They worked with the new sales representatives in the field and coached them to success.

We hired a Sales Xceleration Consultant andwithin months, they filled a wide array of sales infrastructure and process gaps with successful solutions. I am extremely pleased with theprogress we have made and the success that resulted from their highly professional,pleasant, and dedicated attitude. Thanks totheir leadership, we have exceeded expectations and are now on a whole new track! I wouldhighly recommend SX to any company whose sales organization is struggling.

— Jose Estabil, CBO

Results

  • Led the team to achieve record-breaking revenues over an 8-month tenure
  • Increased new revenues by 88% vs. the prior year
  • The 2nd quarter was the highest revenue quarter ever – exceeding the previous high by 55%

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