In our first two blogs for health IT sales leaders, we discussed the challenges for growing profit margins and the development of sustainable sales models in high-growth sectors.
Now it’s time to look at approaches for a sales model refresh.
While some commercial or market leaders are taking a piecemeal approach to counter the challenges outlined previously, strategic sales leaders are driving transformation across their models using these approaches:
1. Evolve from “sales ops” to customer operations
- Shift from reactive to proactive, internal to external, narrowly to broadly empowered commercial operations function across sales, marketing, and service - driven by a mission to deliver leading customer experience (CX)
- Move from teams with limited compensation and sales tools, to full-fledged commercial operations teams that coordinate CX, deliver insights & analytics, lead M&A integrations across the front office, and manage the marketing, service, and sales tech stack
2. Shake up customer segmentation and go-to-customer models
- Refresh customer segmentation models based on new data, market trends (e.g., customer consolidation by private equity, integrated delivery networks (IDNs) and new ways of working post-COVID
- Challenge “standard” sales processes based on customer and segment research, and upgrade job designs and hand-offs to align to hybrid, tool-enabled selling
- Rethink alliance and partner programs to ensure you and your partners are getting the biggest bang for the buck from these relationships
- Empower “inside sales” models by ensuring they are properly equipped with customer data, modern digital tools, a solid talent strategy and career pathing, install base data, and account insights
3. Create omnichannel differentiated experiences for patients and providers
- Refresh customer journey assessments, for both patients and providers, to evolve your understanding of their ways of working and identify any new pain / gain points enabling you to continue delivering a differentiated CX
- Create intentional and orchestrated customer journeys that will let your organization maintain integrated marketing, service, and sales experiences, and focus these teams on where they can make the biggest difference
- Identify new data, digital tools, and CX metrics that will allow provider and patient experiences to remain seamless and measurable
4. Create a career program that wins the war for talent
- Launch a strategy to retain top performers through pay, progression, and culture, while maintaining the large and highly valuable group of moderate performers
- Challenge existing talent and develop new talent with intentional recruiting, orchestrated onboarding, transparent and relevant competency models, and varied and clear career paths
5. Revamp incentives to grow tall offerings – profitably
- Balance profitability, new product sales, and upsell / cross-sell opportunities by relooking at incentive structures, quotas, territories, and account assignments
- Evolve incentives so that when sales teams pick and choose how they deliver against their objectives, their actions are aligned with sales strategy
6. Make digital and virtual selling table stakes
- Identify areas for adopting advanced sales technology that increases seller effectiveness (e.g., automation, just-in-time enablement, rich customer data) and provider experience (e.g., training, videos, practice insights)
- Improve the connection between the sales, service, and marketing teams with lead generation via digital marketing, nurture campaigns, and AI-driven sales and marketing activity guidance
Alex Tolmasoff, Director, KPMG Sales Transformation and HCLS Lead
How can KPMG help?
As you focus on the challenges ahead, KPMG can help you improve the ROI on your sales investments by informing sales strategies, processes, and talent with connected insights. We can help you create winning customer interactions and sustainable revenue growth.