As discussed in our last article, to build a successful content strategy, B2B medical device marketers must gather the following intelligence on their target buyers:
- People involved and their roles in the buying processes.
- The complexities of the buying processes.
- Buyers’ objective and subjective considerations.
- Buyers’ fears at individual and organizational levels.
It may be daunting but not an impossible task, employing several tactics. This article will discuss how you can gather the necessary intelligence to give B2B Medical Device OEM’s content strategy an information backbone.
The four approaches to discovering and understanding buyers are as follows:
- Asset Examination.
- Gambit Insider.
- Intelligent Retrieval.
- Outsider Assistance.
A sales team is an organizational asset beyond its primary function for several reasons. Its ability to gather buyer insights and intelligence is a critical asset, often an untapped resource. Despite its front-line role in engaging buyers and customers, marketing teams frequently underutilize sales teams, relying solely on market research or third-party data sources, leading to a missed opportunity.
By leveraging the sales teams’ knowledge and experience, you can better understand the people in the buying process in your target organizations and develop more effective content strategies to engage them.
Examine your sales teams and identify the following categories of sales personnel. Run several interview sessions with them to get the buyer insights you need:
Past work experience with B2B Medical Device OEMS: These people would have engaged with buying groups in your target organizations. They can tell you the names and roles of the people in the buying process for medical devices, the complexity of their buying processes, their objective and subjective considerations, and their fears.
Past work experience with your target organizations: They would know how things work in those organizations and the people who participate in the buying process of medical devices. If they do not, they can get the information from ex-colleagues working in those organizations.
Having friends, relatives, or ex-colleagues working with target organizations: Connecting with them can fetch valuable information about individuals in the buying process.
People in contact with decision-makers or their sphere of influence: This acquaintance may have been through previous sales calls, meetings, or networking events, giving them valuable insights into the current needs and priorities of buyers, their worries, and changes or shifts in the buying committee structure.
An insider in your target organization can offer more information than an outsider, so it pays to identify and cultivate them. You may bump into them at a trade show, conference, online roundtables, or social media platforms like LinkedIn and Twitter. Once you know who they are, engage with them and build a strong relationship. In friendly conversations, dig for the information you need. In addition to learning about the people in the buying process, their roles, their objective and subjective considerations, and their fears, you can also get to know their characteristics which will help you to identify their stakeholder profile.
You will likely encounter seven stakeholder profiles in a medical device’s buyer group. These include:
The Go-Getter: They consistently go above and beyond their job responsibilities. The Go-Getter not only delivers what is asked of them but also actively seeks opportunities to champion the good ideas of others. Additionally, they are not afraid to make mistakes but learn from them to boost personal and professional growth. They acknowledge past failures and move on to improving and delivering better results. Overall, The Go-Getter is an invaluable asset to a team or organization, as their dedication, creativity, and willingness to learn to inspire and motivate others.
The Skeptic: They are naturally cautious about unclear or high-risk projects. Rather than being dismissive, they work to prepare influential stakeholders for disruptive ideas that may initially be met with resistance. The Skeptic believes that changes require small wins first and carefully ensures any proposed changes are vetted and rooted in research and data. By taking a thoughtful and measured approach, The Skeptic helps to reduce the likelihood of failure and minimize potential risks. Ultimately, their skepticism can be an asset to any team, as it promotes critical thinking, encourages analysis, and helps to ensure that changes are well conceived and likely to succeed.
The Friend: These individuals place a high value on building strong relationships with sales representatives. They are readily accessible and enjoy conversations with reps, discussing product updates, or catching up. In addition, The Friend networks reps with colleagues, facilitating cross-functional collaboration and knowledge sharing. The Friend is generous with their time and understands building solid relationships requires ongoing effort and investment. Overall, their warmth, accessibility, and genuine interest in reps’ success can be invaluable assets as they build trust, foster engagement, and drive sales performance.
The Teacher: These individuals are highly knowledgeable and skilled in their expertise, often called upon to teach new insights to colleagues, junior team members, or senior executives. The Teacher’s ability to effectively communicate complex concepts and ideas earned them a reputation as trusted advisors and thought leaders, prompting colleagues and senior executives to seek their input on strategic initiatives and decision-making. The Teacher is also highly skilled at convincing others, using expertise and persuasive communication to build consensus and rally support for critical initiatives. The Teacher’s combination of knowledge, expertise, and communication skills makes them an invaluable asset in driving innovation, inspiring others, and achieving business success.
The Guide: These individuals are critical in helping vendors navigate complex business landscapes. They provide valuable insights and information typically unavailable to vendors, helping them better understand the needs and expectations of clients. The Guide is known for speaking the truth when sharing information with vendors and providing honest feedback and constructive criticism. In addition, The Guide distributes information equally, ensuring all vendors have access to the same insights and opportunities, fostering healthy competition, and driving innovation in the vendor community. Overall, The Guide’s commitment to transparency, fairness, and providing valuable insights makes them an invaluable asset, as they foster solid partnerships and drive business success.
The Climber: These individuals are highly motivated by personal gain and rewards. They take on high-risk projects if there is a personal benefit involved. The Climber is not content to simply succeed; they also like to tell others about their successes, often seeking recognition and praise from colleagues and superiors. Their focus on personal gain and recognition can be a double-edged sword and a powerful motivator for success. Still, it can lead to self-centered behavior and a lack of consideration for others’ needs and goals. Overall, The Climber’s focus on personal gain and recognition can be an asset or a liability, depending on the circumstances. It is essential to balance their drive with a broader sense of purpose and a commitment to working collaboratively towards shared goals.
The Blocker: The Blocker is an individual who is highly focused on maintaining the status quo and minimizing risk. This person believes that stability is a goal and is often resistant to change or improvement projects, viewing them as disruptive, potentially destabilizing, and actively working to block or derail them. In addition, The Blocker is rarely willing to help vendors, preferring to maintain a safe distance and avoid any potential disruptions to the existing system. While this focus on stability and risk management can be valuable in some contexts, it can also lead to complacency and a lack of innovation. Organizations must strike a balance between stability and innovation, leveraging The Blocker’s strengths while encouraging a culture of continuous improvement and experimentation.
When engaging with buying committees, it’s essential to remember that not all committees have the same personas. However, a framework for understanding these personas can help engage with target committees. In particular, The Go-Getter, The Teacher, and The Skeptic are the most worth engaging with. The Go-Getter is always looking for new ideas and willing to go the extra mile to get things done. The Teacher is highly respected by colleagues and is often sought for their insights and perspectives. The Skeptic provides valuable feedback and constructive criticism to improve ideas and initiatives. By engaging with these personas, you can build consensus, drive change, and ask hard questions early to build an information backbone in your content strategy. Understanding these personas can be essential to building successful business relationships and achieving long-term success.
Social media can be a valuable tool for businesses looking to engage with potential buyers and gain insights into their buying committees. By monitoring employees’ and executives’ activities on social media platforms such as LinkedIn, Twitter, and Facebook, businesses can get a sense of the key decision-makers within a company and their interests and priorities. For example, following executives on Twitter or LinkedIn can help identify the topics they are interested in and the events they may be attending for opportunities to connect with them and learn more about their buying committees.
Sales intelligence platforms are intelligent retrieval systems, that use advanced algorithms and machine learning techniques to analyze large data volumes and identify patterns and trends. Their ability to provide real-time insights into buyers’ and customers’ behaviors and preferences has made them famous.
Some of the ways a sales intelligence platform can help B2B medical device OEMs gain insights about their buyers and buying committees include:
Identifying key decision-makers: Sales intelligence platforms can help identify individuals and groups responsible for purchasing decisions in an organization. This information can be used to tailor sales and marketing efforts to specific stakeholders and build relationships with decision-makers.
Analyzing purchasing behavior: Sales intelligence platforms can help track and analyze customers’ purchasing behavior, including products and services they buy, frequency of purchases, and the channels through which they make their purchases. This information can be used to identify trends and patterns in customer behavior and develop more targeted marketing and sales strategies.
Providing competitive insights: Sales intelligence platforms can help businesses gain insights into their competitors, including their strengths and weaknesses, product offerings, and market share. This information can be used to develop more effective marketing and sales strategies and identify new growth and expansion opportunities.
Integrating with other systems: Sales intelligence platforms can be combined with other business systems, such as customer relationship management (CRM) and software and marketing automation platforms. This integration allows businesses to streamline their sales and marketing efforts and gain a holistic view of their customers and prospects.
Overall, a sales intelligence platform can provide B2B medical device OEMs with many insights into buyers and buying committees. Businesses can leverage this information to develop more effective sales and marketing strategies, improve customer engagement and retention, and boost their bottom line.
Here are some sales intelligence systems Medical Device OEMs can use to gather insights on their buyers and buying committees:
ZoomInfo: Provides contact and account data management, sales and marketing automation, and sales prospecting tools to gather intelligence on buyers and buying committees.
InsideView: It offers sales and marketing intelligence solutions to gather data on buyers and buying committees, including news and social media insights, firmographics, and technographic.
Clearbit: Provides a range of sales and marketing intelligence solutions, including lead enrichment, data cleansing, and prospecting tools to help Medical Device OEMs gain insights into their buyers and buying committees.
DiscoverOrg: Offers a range of sales and marketing intelligence solutions, including account-based marketing tools, contact data management, and buyer intent insights to identify key decision-makers within buying committees.
D&B Hoovers: Provides a range of sales and marketing intelligence solutions, including account-based marketing tools, company profiles, and lead generation tools to gather intelligence on buyers and their buying committees.
SalesLoft: Offers sales engagement solutions, including sales prospecting tools and account-based marketing tools to gather intelligence on buyers and buying committees.
LinkedIn Sales Navigator: Provides various sales intelligence tools, including lead recommendations, account insights, and sales prospecting tools to gain insights into buyers and their buying committees.
These are some examples of sales intelligence platforms Medical Device OEMs can use to gather insights on their buyers and buying committees. Businesses need to research and evaluate different providers to find the one that best fits their specific needs and objectives.
Several marketing information companies provide medical device OEMs with intelligence on buyers and their buying committees, including their position in the organization, role in the buying processes, unmet needs, objective and subjective considerations, and fears.
Collaborating with them can help you successfully conduct surveys with thousands of decision-makers and buying committee members or stakeholders who influence decision-makers in your target organizations.
Here are some marketing information companies that can help B2B medical device OEMs gather insights into their buyers and their buying committees:
IQVIA: Provides market research and analytics services for the life sciences industry, including medical device manufacturers.
Decision Resources Group: Offers market intelligence and consulting services to healthcare and life sciences companies, including medical device OEMs.
Frost & Sullivan: Provides market research and consulting services for various industries, including healthcare and medical devices.
Kline & Company Offers market research and consulting services for the healthcare and life sciences industries, including medical device OEMs.
MarketResearch.com: Provides market research reports and custom research services for various industries, including medical devices.
GlobalData: Offers market intelligence and consulting services for various industries, including medical devices and healthcare.
Kalorama Information: Provides market research and consulting services for the healthcare and life sciences industries, including medical device OEMs.
InMediata: Offers market research and consulting services for the healthcare industry, including medical devices.
Find the best fit for your needs and objectives, and let the magic begin.