If you are a sales professional or want to become one, or if you are looking for a new sales job, you will face one of the toughest interview processes of any job seeker.
I receive several calls weekly from people asking about the difference between sales opportunities in the clinical revenue field, and which personalities might fit best. So, to address these queries, here is the first part of a 3-part series explaining different types of clinical sales.
There are two basic types of revenue that occur in all areas of clinical sales, which includes clinical diagnostics sales, medical sales, clinical laboratory sales, imaging sales, DNA products sales, cellular/molecular products sales, clinical laboratory equipment revenue, surgical supplies sales, hospital equipment sales, pathology sales, or biotechnology sales. Today’s video scene will explain Capital Sales, as opposed to Consumable Sales.
My favorite way to explain this is to talk about the difference between buying a car (capital sales) vs. shampoo (non-capital, or consumable sales). Buying a car requires research, consultation with your spouse, test-driving, maybe a loan, and a leading outlay of cash. It takes a while.
A consumable sale is the shampoo. Much easier decision, because the consequences are less. Not as much commitment, (partly because there’s a lot less cash required), and it’s easy to change vendors. So, the relationship isn’t as solid.
Capital revenue in the laboratory field usually mean things like software (hospital information systems, clinical laboratory info system, workflow software, billing or recruiting software) or equipment. These affect many departments… there’s lots of outlay, many decision makers, and it typically has to be budgeted. The customer needs a really nice reason to switch from what they were doing/using. Pharmaceutical equipment means tangible products…everything from thermometers to imaging equipment, pharma equipment, or beds, even.
