It’s safe to say that IDNs are important customers for the overwhelming majority of medical device companies.
Therefore, it’s probably rational to assume that medtech companies do a good job of tracking the changing IDN landscape, right?
Based on the 2014 ZS Associates Commercial Operations Benchmark Study, only 56% of medtech companies track IDN membership. Surprised? Just wait, there’s more.
In this same study, only 20% of medical device companies have processes in place to measure marketing program results or effectiveness. I wonder what Apple and Google think about that?
In this interview with Andrea Traverso, Associate Principal with ZS Associates, we learn more about the Commerical Operations Benchmark Study and what it means for medtech companies.
Interview Highlights with Andrea Traverso
- Why should medical device companies track IDNs through a CRM? For the few companies that are doing well, what do they have in place that is enabling their success?
- Are there business intelligence or CRM platforms that medtech companies should be using?
- How should medical device companies manage the “garbage in, garbage out” issue that plague all CRM systems?
- When trying to implement a CRM strategy, many medical device sales reps view their respective companies as a “big brother”. How can this be overcome?
- Does a large commercial operations team equate to top-line growth? Is there an ideal size medtech companies should strive for?
- Why is the marketing analytics function not a top-of-mind priority for medical device companies?
This Is What You Can Do Next
1) You can listen to the interview with Andrea Traverso right now:
2) You can also download the mp3 file of the interview by clicking here.
Don’t forget – you can listen to this interview and all of the other Medsider interviews via iTunes. And if you get a chance, leave us an honest rating and review.
More About Andrea Traverso
Andrea Traverso, an Associate Principal based in ZS’s Evanston, Ill., office, has more than 16 years of experience in consulting. She has helped companies in the medical device and pharmaceutical industries across a wide range of issues, including go-to-market strategy, commercial excellence, analytics, operations, and a variety of other sales and marketing issues. ZS Associates is a global sales and marketing consulting firm that serves a range of industries including consumer products, high-tech, financial services, medical products and services, and pharmaceuticals. Since 1983, ZS has worked with 49 of the top 50 pharmaceutical companies and 18 of the top 20 medical device companies in the world.