In medical technology, the decision to purchase no longer lies primarily with the user. In addition, there has been a fundamental shift in how demand for new products are posed and regarding the decision criteria for acquisitions. Thanks to almost complete market transparency in terms of prices and product information – sometimes driven by the Internet of Things – customers in the medical technology industry now find themselves in a largely changed situation compared to just a few years ago. This, together with further changes in customer behavior, creates a market-driven pressure on established medical technology companies to act, which, without an extensive analysis of these market dynamics, jeopardize their competitiveness in the medium term.
Therefore, Homburg & Partner’s dedicated Medical Technology Team provides a solution targeted specifically at this issue using the Commercial Model approach. This will allow you to position your medical tech company close to the market and its consumers, prepared to react to any change in behavior. Our Commercial Model is guided by six dimensions which we optimize regularly and in close collaboration:
In order to be able to make your company more customer-oriented, the market conditions have to be understood. We will support you in identifying the most important trends, market developments, and customer needs which drive demand and will always critically take the crucial impact of competitor activities into account.
To ensure that your services are specified for your customers, these need to be divided into segments relevant for you, considering the background of how they are individually positioned in the target markets. Key account management optimally embedded in the corporate structure is indispensable when maintaining proximity to your largest customers and binding them in the long run.
As part of the market presence, important go-to-market questions concerning your portfolio need to be answered as efficiently and sustainably as possible. We will therefore find the ideal approach for you in terms of product innovation and brand management and will offer you support in selecting profitable direct and indirect as well as online and classic sales channels.
Medical tech companies often do not make use of the most important profit drivers – even though clever price mechanisms as well as professional monetarization deliver disproportionately high profit increases with only little effort. Thanks to Homburg & Partner’s Commercial Model approach, you will attain a profitable value pricing which at the same time can lead to the optimal value for your customer enabled by your sales force’s successful price implementation.
Profitable pricing and a well-considered product innovation culture will only spark your total potential if an overall sales structure is in place that is aligned accordingly. You will achieve a completely profitable overall process by employing sensible and cost-saving sales and service duty planning as well as a lead- and customer-relationship management (CRM) which are customer-oriented.
To complete Homburg & Partner’s Commercial Model, processes and tools used for regular performance measurement in accordance with individually defined KPIs must be implemented and adhered to. Additionally, both market-oriented and internal feedback-loops should not be underestimated in order to be able to guarantee a long-term customer focus and relevant developments.
Homburg & Partner can look back on many years of experience in employing the Commercial Model approach to equip medical tech companies with efficient and lasting corporate structures from scratch. These structures will continuously achieve maximum success for your market presence thanks to a coordination of the central aspects of market strategy, sales and pricing.
Do you have questions or would you like to discuss the topic? Then feel free to contact our experts Dr. Michael Scholl, Karl-Hubertus Gruber and Dr. Michael Marquardt.