Vying for Value in 2015 Installment 3

Your margins are squeezed, relationships are strained, and value still seems elusive… you may need a new approach:

Today, to win and keep customers, you need to integrate the current and continuing changes in the healthcare marketplace into how you engage with potential customers. Your team needs to accept that customers will not call you with happy budget news, or chase you down to discuss the next acquisition. Now, in this reforming market, you must create demand. The TIGI COF℠ sales model does this by linking the account’s Clinical Mission to it’s Operational Efficiency by assessing if the operational elements are aligned to the Mission. The targeted Financial Performance requirements and metrics of today’s healthcare customers will only be attained if this alignment occurs.

Some proven results of the TIGI COF℠ approach:

In one company, the TIGI COF℠ development model is being used to drive the marketing communications process in a new direction. Rather than promoting a new feature on its equipment, this company repositioned their messages, case studies, and proof statements. Now the company shows prospective customers how the absence of the clinical innovation (feature) leads to process inefficiency and how that translates into endangering the financial health for the provider. In one year, the outcome of these efforts had a significant increase in ROMI (return on marketing investment), as well as double digit revenue growth in a declining market. The model has now been taken to the rest their markets across the globe.

Another company is using the TIGI COF℠ model to segment the market based on externally visible indicators of risk levels, and process inefficiency. Using these criteria, the company is sending specific and tailored messages to individual targeted customer buyers to clear the path for their sales team. The sales team uses the model to build a business case for the adoption of their recommended solutions. Within 6 months, the result of this effort has been increased sales pipeline velocity, and reduced price erosion.

Yet another company is applying the TIGI COF℠ model to de-commoditize their product offerings. Aspects of their service agreement have been monetized and connected to the missions of their customers. What was once a commodity has been transformed into a solution for clinical integration, patient satisfaction improvement, and simultaneous cost reduction and revenue increases. Using this approach led to the largest market share gain in one year in the company’s history, and in the industry as a whole. In the three years since, this division has maintained record profitability and growth.

What about you?

As an industry, more suppliers need to engage in value creation. Too many companies are pre-occupied with trying to do more of what worked the last 10 years.

We believe the following:

• You can attain better sales performance.
• Your team could, and should, be accelerating performance in this market.
• You need to continue to increase the your revenues, and profits.
• You should be able to do more with the team you have now.

Why you received this communication?

We selected a small group of targets for this letter, and we are prepared to offer you some proven resources that you can use. These resources will also help you examine the TIGI COF℠ Business Development model and they are available by request on our website or by phoning our offices.

Consider this:

You may be able to succeed in this new market if you cling to your current approach. Chances are you are working harder than ever, and getting pretty good results, but you’ve wondered how long you can sustain this pace. What happens when expectations are raised again next year?

By:
Gunter F. Wessels, Ph.D., M.B.A.
Total Innovation Group Inc., Practice Principal, Partner
and
Sam O’Rear
Total Innovation Group Inc., Senior Partner