Is it always worth going to great lengths for your medical leads? It’s a consensus among marketers that your old customers generate more value to your business than the new ones you acquire.
Why then are so many businesses still bent on getting new customers? Perhaps the real reason is that, while they’re not as valuable, converting a new customer into a repeat one is what gives them more value over time.
But what of a situation where you are openly challenged by a prospect to prove your worth against a competitor? Do they still think you have a shot or are they just looking to validate their decision?
How do you know if the fight is worth it? You can start by breaking that question into several ones:
Question #1: What did you do?
This might be a little bit in-your-face but there’s a chance that either you or a previous vendor similar to you already failed. And not just failed. It was a big time failure that came at a great, terrible cost to the prospect. (For example, patients may have actually died or their best doctors and nurses quit because of their frustrations with the vendor.)
You can’t blame them for having even just a little bit of a grudge behind all their doubt.
Question #2: How far are you willing to go?
Are you going to go as far challenge what is conventionally possible? Will you settle damages? Are you ready to publically shame your company by holding yourself accountable?
It’s not just about openly admitting how much you bombed or how your particular type of medical products are flawed. If you’re willing to go through all that, then you better be prepared to give a high value to that prospect in order to justify it.
Question #3: How much are you willing to compromise?
The cost of compromise can be so great to a business that it requires its own question. You might think your firm can withstand bad PR or admit its flaws. On other hand, sometimes in order to win back a prospect, they would want you to do away with things that originally caused all sorts of friction.
Unfortunately, not everyone in your organization might agree. It can be anyone from your technical staff to your sales representatives. On the other hand, what’s the point of making a promise to change? If you knew a certain kind of operation or policy turned them off, don’t waste your time validating it.
Even your strongest competitors are only strong because they know where you failed with certain prospects. Oddly enough, some of these could include a few disillusioned old customers as much as new ones.