Just about every marketer is familiar with the sales funnel, a graphic used to depict the buyer’s journey from first discovery to final sale. The funnel is wider at the top to represent all the people that you’ve introduced to your company through activities like brand awareness campaigns. In the middle, you are able to identify who of that initial population you could persuade to consider doing business with you. At the bottom of the funnel is the percentage that converts from prospects to clients.

What may not be familiar to you is how to match marketing activities with those different levels of the sales funnel — particularly which activities will get people into the funnel in the first place.

Healthcare analytics is robust and increasingly critical as a sub-industry and set of tools driving many critical decisions in the arena of healthcare, both in the U.S. and globally. All healthcare analytics are built on a foundation of data, but that data is only as useful and as powerful as it is effectively analyzed, and then applied, to improve clinical and business processes and outcomes. 

Big data is increasingly available and used by MedTech and other healthcare businesses in new market development and related marketing and sales strategies.
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Data-driven marketing is not new, but is gaining rapidly in popular application. However, data application for use by sales teams, particularly in new market development, is adopted less frequently and at a slower rate, and that translates to missed opportunities.

Below are some guidelines for new market development strategies and tactics that incorporate a symbiotic approach involving both marketing and sales.

If you sell medical technology products to doctors you already know the importance of physician education goes much deeper than a simple presentation and discussion of product features and benefits.

Whether your medical technology is specifically sold to and used by primary care providers (PCPs), medical specialists, or both, the PCP should be the target audience for education about your technology. 

Yet many MedTech companies whose products are intended for use by medical specialists put limited or no resources toward educating PCPs on their products. It may be understandable, but it’s also shortsighted.

We have exciting news to share!

Carevoyance was selected as one of eight companies that will pitch our startup in the time it takes to ride up the Salesforce Tower elevator. Check out the announcement over on the Salesforce blog.
 
We'll be making our Ultimate Elevator Pitch in the Salesforce Tower! We are thrilled to be one of the eight semi-finalists in Dreampitch, presented by T-Mobile for Business 

From the Ultimate Elevator Pitch, three startups will be selected to pitch on the Dreamforce stage. One winner will walk away with a $250,000 investment opportunity from Salesforce Ventures. ​Pitches will be filmed and streamed prior to Dreampitch, so be sure to follow our journey as we compete to pitch on stage at Dreamforce 2018!

Follow Carevoyance on Linkedin to receive regular updates on the contest.

​The most successful businesses don’t rest on their laurels, and they never get comfortable. Even if you have a great product, it can only take you so far within a given target market before your growth begins to flatten.

MBA students and marketing majors learn about market development as one quadrant of the Ansoff Matrix in Marketing 101, but it’s important for salespeople to understand and contribute to market development as well.

Market development directly affects sales success, and salespeople are on the front lines with the customer - daily. That close connection to the customer makes sales representatives very valuable in identifying new market development opportunities.