- How do we choose the right sales model for our product and market?
- What milestones do we need to hit for a successful exit or next funding round?
- How can we validate and communicate our value proposition to early customers and investors?
Contrary to popular belief, great products don’t sell themselves, at least not right off the bat.
Once you have a recognized brand and product position in the market with well established success, the product might “sell itself”. But until you get there, your commercialization strategy bridges the gap between having a product that solves a problem to selling and scaling product sales.
To cross the gap between having a validated product and scaling consistent sales, you need a clear, well-executed go-to-market strategy. That strategy must:
In the world of medical devices, the challenge isn’t just solving a clinical problem, your go-to-market strategy matters.
We work with you to build the strategy from start to finish or help address gaps pre-sales, post-revenue generation or provide objective external review/perspective to current approach. Our approach covers key pillars such as:
Defining Growth Objectives & Timelines: Start by clearly defining your exit strategy and the target valuation you aim to achieve. Then, translate that long-term goal into tangible short-term sales objectives and growth milestones.
Market & Customer Focus: Clearly define primary targets and secondary markets. Deeply understand and articulate how the product solves critical issues.
Product & Value Proposition: Articulate the unique benefits. Support claims with clinical data, peer-reviewed studies and real-world data.
Regulatory & Compliance: Guide the product through the necessary approval or clearance processes in target regions and ensuring it meets healthcare standards for installation, maintenance, safety, and data privacy, when applicable.
Sales Model & Channel Strategy: Select the best approach for selling the product, whether through a direct sales force for complex hospital deals, specialized distributors for regional reach, or a hybrid model. It also includes mapping the target customer’s procurement cycle to optimize the sales process.
Marketing & Branding: Define how to market and generate leads based on your target customer and chosen sales model. Position safety, usability, and efficacy through white papers, case studies, and presentations.
Financials & Operations: Develop a value-based pricing model reflecting demonstrable ROI. Explore CapEx vs. OpEx sales positioning and understand impact on sales cycles, decision makers, and budgets for your target customers. Establish process for site assessment, professional installation, comprehensive user training, and responsive post-sale technical support and maintenance.