Developing a Win Package for a Global Medical Technology Company
Problem
A global medical technology company faced a unique competitive situation: A partner whose platform integrated into one of their products came to market with its own version of that product as a free add-on to their platform.
How could the client’s sales team convince customers to continue utilizing their product if a free, “good enough” alternative was available to them? To answer this question, they needed to better understand their product differentiators, their customers and their pain points, and the best ways to enable their sales teams to overcome objections in the field.
The client brought in Excelerate to develop a win package that addressed these questions and best positioned their product for future success.
Approach
Excelerate, which enjoys a long-standing relationship with the client and had developed similar win packages for them in the past, began with intensive research. Workshops, stakeholder interviews, customer interviews, and market research all informed this stage of the engagement as Excelerate consultants immersed themselves in industry and client-specific knowledge.
Excelerate then built out the win package. This began by developing customer segments to aid in targeting the right conversation to the right customer at the right time, and identifying twelve chief objections with corresponding responses. This resulted in a canonized six competitive advantages, which helped the frontline sales team shift the conversation from product features to overall value.
Finally, Excelerate delivered a customizable pitch deck ready to be shaped to individual customer needs, as well as a sales playbook to support the team in creating customized pitches. This was tailored to address potential MLR concerns before they arose.
Results
The Excelerate-driven win package is currently under review by the client’s medical legal review (MLR) team, after which it will be deployed in field. While the win package is pending approval, the client is using it internally to align teams on the competitive landscape; once launched, it will serve as an internal resource for both new hires and seasoned team members.
To develop this win package, Excelerate secured buy-in from disparate business units—from sales and marketing to product development and clinicians— each with their own unique perspective on the product, its differentiators, and the best way to sell it. By bridging these points of view and marshalling them in a common direction, Excelerate brought clarity to a product and its competitive positioning as well as standardization to the sales process.