Dec 07

Lucro Company Update and Year in Review

Blog Bruce Brandes HISTalk Sales Purchasing Decisions Decision Making healthcare innovation Innovation

As you likely experience every day, uncertainty and cost pressures in healthcare have created unprecedented challenges and opportunity for the industry.

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Nov 21

Why Healthcare Organizations Take So Long to Make Buying Decisions and How We Can Fix It (Part 4 of 4 - Process) (HIStalk)

Blog Bruce Brandes HISTalk Sales Purchasing Decisions Decision Making healthcare innovation Innovation

(as seen in HIStalk Reader's Write on November 15, 2017)

We have previously discussed the impact of organizational misalignment and lack of trust on slowing the buying cycle in healthcare. Once you decide which projects are worth tackling and you streamline getting the scoop from your trusted network, now you must challenge and simplify the deeply-rooted, legacy workflow to make a decision.

Let’s illustrate two examples of antiquated steps in most every vendor selection process in healthcare and discuss potential solutions.

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Nov 02

Why Healthcare Organizations Take So Long to Make Buying Decisions and How We Can Fix It (Part 3 of 4 - Trust) (HIStalk)

Blog Bruce Brandes HISTalk Sales Purchasing Decisions Decision Making healthcare innovation Innovation

(as seen in HIStalk Reader's Write on November 1, 2017)

In Part 2 of this series, we discussed the importance of first clearly defining and aligning regarding the problem a buyer seeks to solve before evaluating products. The next key element is to invite trusted colleagues to contribute insights and experience in the context of that problem and possible solutions.

Below we will share more about the type of buying decisions most impacted by a lack of trust and explore how healthcare buyers can gain more confidence in the choices they must make.

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Sep 28

Why Healthcare Organizations Take So Long to Make Buying Decisions and How We Can Fix It (Part 2 of 4 - Misalignment) (HIStalk)

Blog Bruce Brandes HISTalk Sales Purchasing Decisions Decision Making healthcare innovation Innovation

(as seen in HIStalk Reader's Write on September 27, 2017)

As any industry observer knows, health systems continue to consolidate in an attempt to ensure their viability given unprecedented financial and operational pressures.  Many organizations struggle to fully leverage their scale post-merger. Most often the difficulty is to align focus, priorities, internal knowledge. and industry experience across the expanded team as they integrate.  

Misalignment is usually the main contributor to the length of the sales and purchasing process. Too often people fall in love with a PRODUCT without first clearly defining the PROBLEM they seek to solve. This challenge is exacerbated by complex purchasing decisions that require collaboration across multiple stakeholders to make the right choices.

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Sep 05

Why Healthcare Organizations Take So Long to Make Buying Decisions and How We Can Fix It (Part 1 of 4) (HIStalk)

Blog Bruce Brandes HISTalk Sales Purchasing Decisions Decision Making healthcare innovation Innovation

(as seen in HIStalk Reader's Write on August 30, 2017)

Over my 28-year career selling to health systems, the most common “competitor” to which my companies would lose a deal was the same: Do Nothing. For decision-makers across the country, there are many reasons that deferring buying decisions was historically a wise choice. 

Rarely was there a compelling reason to make a decision at all. In the past, the economics, competitive pressures, and the underlying business model did not change meaningfully enough to encourage risk-taking. Frequently, if you waited long enough, potential industry changes would often just go away.

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Aug 30

Vendor Tinder

Blog About Lucro Sales Healthcare Leaders Decision Making

It’s Friday night, and you’re looking for a date.

You drive 30 minutes to a bar, pay $20 for parking, $12 for a drink, and then things get worse.

Before you can take that first sip of your Appletini, a stranger moves in. Awkwardly close now, the stranger starts to shout:

“HI, I’M KEVIN, I DRIVE A DODGE STRATUS, I BENCH 300 LBS, AND ONE TIME I HUNG OUT WITH DRAKE AT A PARTY. I CAN MAKE ALL YOUR DREAMS COME TRUE. HERE’S A VIDEO OF ME EATING THE WORLD’S LARGEST BURGER IN 60 SECONDS. WILL YOU MARRY ME?”

You’re not interested in any of those things - Kevin is not a good match. You awkwardly panic moonwalk out of the “conversation” with Kevin...  

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Jun 22

The Knowledge Journey

Sales Customer Experience Sales Process Knowledge Journey Customers

Imagine a future client. They are the most successful and satisfied customer in your company’s history. Now, rewind all the way back to your first conversation, when they knew nothing about your product. Press play and pay attention to how and when your prospect learns about the value of your offering.

How did they learn about you? What did you share to help them make their first step? At what point did they speak with an existing client or ask about price? What greased the wheels to have your contract signed? Most importantly, what did they learn in the sales process that guaranteed success as a customer?

Documenting how your prospect acquires knowledge in your sales cycle improves sales conversions, forecasting, and customer success. Yet, it is among the most overlooked elements of a repeatable sales strategy.

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Jun 15

Sales by Submission

Sales Marketing Technology Customer Experience UX Design Thinking

Software companies hire User Experience (UX) pros to obsess over making their products usable and delightful. UXers merge multiple disciplines, including engineering, marketing, graphical design, and product management to meet the exact needs of a customer. They fixate on every path a user might take and compose the software’s appropriate response.

Investing in UX affects a customer’s real and perceived value from the product, as well as customer satisfaction, retention, and their lifetime value to the company. As a result, the profession is expected to double the US job growth rate through 2020 (22.1% vs. 14.3%).

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Mar 03

Looking Back on HIMSS17, Looking Forward to Innovation

Blog Bruce Brandes Healthcare Vendors Sales Purchasing Decisions HIMSS

At 4:00 PM on Wednesday, February 22, a cheer went up from exhibitors at HIMSS17 upon hearing the announcement, “The Exhibit Hall is now closed.” Sales and marketing executives gathered their supplies and headed for the door, leaving teams of specialists to dismantle the mini-city that had sprung up in the almost mile-long convention hall.

Exhausted attendees, feet aching and shoulders slumped from carrying pounds of giveaways and literature, also made their way out of the hall. Many commented on the sensory overload of the exhibits, signage, noise and smells that had pummeled them for three days.

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Feb 10

Redefining the Sales Battle

Blog Bruce Brandes Healthcare Vendors Sales Purchasing Decisions

In ancient Roman times, gladiators entered the ring to engage in blood-soaked battle, often to the death. Fast forward to 2017, and while it may not be the Roman Coliseum, fearsome battles between vendors for health systems’ purchasing decisions, as well as battles around vendor choices within these health systems, still take place on a regular basis.

The difference in vendor and provider approaches to selling and purchasing, respectively, isn’t productive for either party, resulting in mutual frustration and inefficiency, as well as solutions rife with compromise. Vendors and providers that are open to changing how they approach purchasing conversations can save themselves the “sales battle”, work more efficiently and make better decisions to push toward innovation.

As you consider how this change can impact your organization, keep three benefits of a more collaborative vendor/provider relationship in mind:

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