Conquering Capital Equipment Sales

Capital Equipment, Your path to the good life.

Let’s talk turkey. You’ve been in the sales game long enough to know the score – money might not be the root of all happiness, but it sure as heck makes life more enjoyable. Those regular sales from disposables and pharmaceuticals? They’re your bread and butter, keeping the lights on and affording you a modest vacation now and then. But if you’re itching for the good life – i.e. swanky resorts instead of motel rooms – then you need to focus on the big fish: capital equipment sales. It’s 2024, and it’s high time you make a splash in your company and industry. How? By injecting a hefty dose of PRIDE into your equipment sales approach.

Prospecting

First things first – prospecting. This isn’t just a part of your job; it IS your job. And whose job is it? Everyone’s. You’re in this together, whether you’re a manufacturer rep or a distributor rep. Now, let’s get strategic. Each month, pick three to five products to focus on. Imagine you’re targeting anesthesia machines. You decide you want five sales over three months. To get those sales, you’re aiming for 15 demos. For those demos, you’re going to need to reach out to 45 prospects.

The most important number on that goal sheet in front of you is the prospecting column. That number needs to drive you. So, break it down into a weekly and daily number. Don’t stop until you meet your prospecting goal.

Capital Equipment Goal Sheet

Prospecting is more than a step in the process; it’s the heartbeat of the entire operation. It’s the difference between waiting for opportunities and creating them. Cold calls and prospecting for equipment sales with existing clients are your ticket to the big leagues. So, roll up your sleeves and start dialing or making the live visits.

Rep communication

Now, let’s talk about partnerships. If you’re in distribution, you need to be choosy about who you partner with. This isn’t about quantity; it’s about quality. Find manufacturers who aren’t just names in the industry but are also backed by top-notch reps. These partnerships can be your goldmine, leading to an influx of leads, demos, and ultimately, sales.

On the flip side, if you’re a manufacturer rep, don’t spread yourself too thin chasing a dozen distribution partners. Focus on cultivating five to seven rock-solid relationships. These reps should wake up thinking about your products – that’s the level of commitment you’re looking for. And how do you achieve that? By giving them star treatment, unparalleled support, and showing them that they’re your MVPs.

In the call

Joint calls or demos are your stage, and you need to know your role. If you’re stepping on each other’s lines, your performance falls flat. The distributor rep could lead with the opening act – setting the stage and recapping previous interactions. The manufacturer rep then takes over the main show – digging deeper, asking the critical questions, and presenting tailored solutions. This isn’t just about avoiding confusion; it’s about delivering a seamless, powerful presentation that leaves your prospect wanting more.

Decision time

You’ve got their interest; they’re making all the right noises – now it’s crunch time. This is where your financial savvy comes into play. You need to be ready to present your financial proposal. No “I’ll get back to you with the numbers.” Have your pricing options at your fingertips, ready to go. Hesitation or delay here can kill the momentum you’ve built. This is about striking while the iron is hot, and sealing the deal while their interest is at its peak.

Explore

Alright, you’ve just closed a deal. High fives all around, right? Not so fast. This is your golden opportunity to explore further sales. Many salespeople shy away at this point, afraid of seeming pushy. But this is exactly when your client is most receptive. They’ve already said yes to one product; they’re primed for more. Say they’ve bought an X-ray machine – this is your cue to introduce the service and maintenance plan. Or maybe that amazing digital imaging software that will bring that X-ray to life. Frame it in terms of how other clinics have benefited from this combination. This isn’t being pushy; it’s being helpful by showing them opportunities they might not have considered.

With PRIDE as your playbook and preparation as your game plan, 2024 can be your breakthrough year. We’re talking about the kind of success that doesn’t just boost your career but transforms your life. Imagine bigger commissions, luxurious vacations, and a lifestyle that’s the envy of your peers. It’s all within reach. But remember, it’s not going to fall into your lap; you need to go out there and make it happen. So, gear up, get out there, and show them what you’re made of. Welcome to the good life – you’ve earned it.

Brian Sullivan

As Founder of PRECISE Selling, Brian Sullivan, CSP creates top performers in sales, customer service, negotiations, leadership, and presentation skills through seminars and internet training programs. He is also the author of the book, “20 Days to the Top – How the PRECISE Selling Formula Will Make You Your Company’s Top Sales Performer in 20 Days or Less.” To learn more, go to preciseselling.com.

Photo credits:

istockphoto.com/Svitlana Hulko

istockphoto.com/SDI Productions