There’s a lot of work and preparation when it comes to bringing a new product to market…even if the product comes to you ready-made. In fact, it might even require even more work and preparation.
Beekley Medical has always worked with inventors to help bring their ideas to market. It’s one of the reasons why we’re considered a market leader - the vast majority of our products were physician, nurse, or technologist inspired.
Deciding to become a distributor
Once the idea has been vetted internally, its need is validated externally via market research. Then, when the idea becomes a workable reality, it goes on to sales testing. People liked the idea, but now, will they buy it?
Throughout this process we learn our intended audiences’ pain points with current products and processes, who else needs to be involved in the decision to buy, and how best to present and demonstrate the product. Sales scripts and marketing copy are proposed, finessed, and edited before anything becomes presented to the customer via conversation, online or in print.
Because of our presence and reputation for quality, we are sometimes approached by other vendors – sometimes to manufacture a white-label specialty product for them and sometimes to represent their product as their distributor in the United States.
We put the same rigorous process in choosing to represent another company’s products as we do in choosing distributors outside the US to represent ours.
A rigorous, selective process
Unlike many catalog distributors in health care, not every product is considered, and not every product considered makes it into our line of product solutions.
All proposals are evaluated on how the product improves upon patient care, existing processes, and clinical efficacy. Due diligence is important too - is there an efficient manufacturing process? How long are lead times between orders? Is there a real potential for our customers to experience a backorder? Does this product fit in with our other product categories and will it fit in to our sales model? Most importantly – will our customers see value in it, and will they buy it?
A global collaboration
When Interventional Systems approached us regarding introducing iFIX patient stabilization system to radiology departments within the United States and its territories, we were excited about the product, as we saw its potential for making patients more comfortable and how much more efficient and hygienic it would be for stabilizing patients to reduce motion artifact than Velcro® straps.
The decision to move forward with iFIX and Interventional Systems at the beginning of 2019 was truly a global collaboration.
While contracts and pricing were being negotiated, salespeople were being trained on the product, marketing was working on how best to promote the product. Procurement needed to estimate how much inventory to stock, and shipping needed to determine the best methods for getting orders to customers in a timely, efficient manner.
In-house teams get creative
We had to find creative ways for our in-house team to be able to introduce and demo iFIX to prospective customer and their department members and buying committees. We did everything from in-services, to live conference video demos, to live presentations at tradeshows, and even bought a mannequin for demonstration purposes.
It was imperative that we support this new initiative and set the sales team dedicated to this product up for success so that they could hit the ground running before the ink dried on the final contract.
Partners where "knowledge meets passion to improve patient care"
Thankfully, we had a great partner in Interventional Systems, who share our focus on improving clinical efficacy and the patient experience. As Dr. Joerg Traub, Director of Business Development for Interventional Systems put it in presenting the iFIX distributor of the Year Award to our iFIX team, “it has been a pleasure working with a company where knowledge meets passion to improve patient care.” We at Beekley feel the same way.
Together we navigated many firsts. As our sales team worked closely with clients to introduce iFIX as the standard of care for patient stabilization in a more hygienic way, customer feedback to improve product and processes was relayed to Interventional Systems and acted upon.
Despite a slow start while learning on the job how best to present iFIX and gaining an understanding of its sales cycle, we began to see the results of all our efforts by mid-year.
Imagine our surprise and delight when we were informed at the 2019 RSNA by Interventional Systems Founder, Dr. Michael Vogele, that we were the top distributor for iFIX globally! Not bad for a new partnership venture in year one.
We’re excited to keep the momentum going and provide a better patient and clinical experience with stabilization in 2020.
To learn more about potential partnerships with Beekley Medical visit wmbenterprises.com.