Boosting Sales of a Product

Innovault helps apply a booster to Sales of a Healthcare product line

A tall obstacle

One product line of a Healthcare company was faced with a giant problem. Operating in the Haemodialysis space, they were struggling with low single digit growth against the market leader whose dominance was such that it had an install base of 20,000+ haemodialysis machines (vs 450 of the newer player). 

While they had quality products, the sales trajectory was not really picking up. The leadership realized they needed to figure out a way to ‘pole-vault’ Sales and get out of the shadow of the incumbent’s massive market presence.  

 Innovault in action

In our experience working with organizations of all sizes across the industry spectrum

The bigger the need for a ‘pole-Vaulting’ boost in a business, the more it pays to dig below visible activities to uncover and shine a ruthless spotlight onto the organization’s potentially limiting Perceptual Models: a self-created obstacle course of invisible but all-powerful beliefs about the business. Something that can silently limit the field of thought, short-circuiting new ideas & possibilities. 

The first thing the Innovation team were taken through was an exercise in self-reflection, in which they mulled over some of the unconscious ‘Perceptual Model Boundaries’ they carried w.r.t the market and their space in it.

For instance, they realized that they had mentally given up against their giant competitor: “We are 5 people while they have 300!”.

Also that they had gotten into the ‘product selling’ mode, instead of trying to position their solutions. They were focusing on somehow selling dialysers (the consumable component in a haemodialysis machine) while the machine itself had become lower in priority.

The first thing the Innovation team were taken through was an exercise in self-reflection, in which they mulled over some of the unconscious ‘Perceptual Model Boundaries’ they carried w.r.t the market and their space in it.

For instance, they realized that they had mentally given up against their giant competitor: “We are 5 people while they have 300!”.

Also that they had gotten into the ‘product selling’ mode, instead of trying to position their solutions. They were focusing on somehow selling dialysers (the consumable component in a haemodialysis machine) while the machine itself had become lower in priority.

Facing up to their Perceptual Model boundaries opened up some crucial questions for the Team:

  • While we believe that large corporate hospitals are competition strongholds and we can’t do much there, could there be a way to make a dent in this space?
  • Our coverage model is largely dependent on the reach of a handful of channel partners. Would it make sense to change this?

The Innovation Team’s collective reflection followed by directional inputs from the leadership  set the stage for an outward journey: a quest for deeper Insight into the psyche of the customer base.  Now came a departure from usual market research. In this case the Team itself went and engaged with doctors, administrators and dialysis technicians. Investing energy in highly productive direct dialogues with them. 

Many significant Insights emerged. For example: Some corporate hospitals were positively surprised to meet them. The Team learnt that they didn’t want to be dependent on one vendor & had also been trying to figure out a reliable 2nd option. Further insights came from close observation of their facilities & interaction with grassroots personnel. 

Inspired by these insights, the Innovation Team generated some core ‘Pole-Vaulting’ Ideas: 

They decided to lead with the haemodialysis machine, moving the discussion to its strong opex advantage over competition. The coverage plan for the country underwent a big change from the erstwhile opportunistic approach. Now a set of crucial states were allocated to their own salesforce.  While aggressive new channel partners were placed to cover the next tier geographies. Some geos were dropped altogether for the time being.

 Impact

Leading with the solution offered by them opened up opportunities in several corporate hospitals across the country.  Many large deals started coming their way. 

The product line crossed its FY target within 8 months. The Team got several large-deal awards on the way.

With growth hitting 22% (compared to 6% in the past year), the Team got recognized as one of the APAC stars and got an opportunity to share its ‘pole-vaulting’ approach at a worldwide forum. 

With the Sales booster well & truly firing, a set of newer ideas is now on the table to keep up the upward trajectory.

Impact

Leading with the solution offered by them opened up opportunities in several corporate hospitals across the country. Many large deals started coming their way.

The product line crossed its FY target within 8 months. The Team got several large-deal awards on the way.

With growth hitting 22% (compared to 6% in the past year), the Team got recognized as one of the APAC stars and got an opportunity to share its ‘pole-vaulting’ approach at a worldwide forum.

With the Sales booster well & truly firing, a set of newer ideas is now on the table to keep up the upward trajectory.