Grow Revenue by Re-Structuring a Sales Team

Re-Structure sales teamThe medical device industry is always changing as new technologies are discovered that lead to new inventions. And just as scientists and researchers need to adjust and adapt to new developments, medical device salespeople need to as well.

In part because it recognizes the importance of evolving its sales force, Medtronic Inc. recently announced that it would re-structure its sales team.

According to a release from the medical device company, its U.S. Cardiac and Vascular Group sales operations will be combined into a single, cross-divisional unit. This change is occurring as a result of hospital administrators’ expanding roles in the medical device selection process.

“With the growing partnership between clinicians and administrators as they work together to address the changing healthcare environment, our strategy going forward is to leverage Medtronic’s breadth of talent, technologies, products and services across our 15 market segments to help hospital administrators address their unmet needs, while maintaining and strengthening our ability to serve clinicians and their patients,” Michael Coyle, group president of the Cardiac and Vascular Group, said.

In addition to re-organizing part of its sales force, Medtronic said that it would create a Strategic Account Management team to help meet clients’ needs.

Barrett Riddleberger, the CEO of Resolution Systems, Inc., a sales training and consulting firm, said that he likes Medtronic’s new approach to medical device sales.

“Putting together a Strategic Account Management team to maximize the sales opportunities by having salespeople inside each account is an excellent way to grow revenue and retain customers,” the CEO said.

According to Riddleberger, new business development reps often do not develop existing accounts because they are too focused on finding new business.

Riddleberger said that he also likes the approach because it allows salespeople to develop important knowledge of the medical device industry and their customers.

“This information will be critical in staying ahead of clients’ needs and demands, as well as industry trends, to ensure products and services align with future challenges and needs,” the executive said.

Just as a new structure may be important to a company’s sales team, so too is obtaining sales assessments for potential new hires as they can give managers an idea of whether or not an applicant will have what it takes to become a successful salesperson at their company.