By the beginning of each year, most medical suppliers have already set their targets with distributors.
That’s all very fine, but manufacturers then face difficulties converting those target numbers to actual orders.
So, how do you do it? Are there any tricks?
Yes, there are, and here they are 5 of them to help you get from your target numbers to final sales.
You have to be fully aware of the business volume, your competitors’ market share, and the potentiality of your product line in each country.
And you shouldn’t rely on the information you get from distributors for this. You should get it from an accredited third party, or go find it out yourself.
Your targets should be reasonable.
It’s the most common mistake medical suppliers make, to dream up impossible numbers, or underestimate what they can do.
Make the targets sensible, something you can reach, but not something too easy.
Pay at least one visit to your distributor’s country.
You’d find that meeting the staff and the end-users really helps you reach those targets. Good relationships count for good business.
Fix a regular meeting every quarter with your distributors, to discuss what your progress is, talk about trouble-shooting any delays in hitting your target, and just learn together how you might help enhance your distributors’ performance.
Offer an attractive discount, or FOC, or special gift for your distributor once they achieve the target. Distributors like that, and you like when they hit the targets. It’s the old win-win rule! It really inspires, and motivates!
And there you go!
We’ve done a lot of measuring, and we find that on average, medical suppliers who use these 5 tips get about a 30% sales boost over suppliers who don’t. Test them for yourself!