Explaining Clinical Sales: Part I

I receive several calls every week from people asking about the difference between sales opportunities in the pharma sales 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 pharma sales. 

There are 2 basic types of sales that occur in all areas of pharmaceutical sales, which includes medical diagnostics sales, clinical sales, pharma sales, imaging sales, DNA products sales, cellular/molecular products sales, clinical equipment sales, surgical supplies sales, hospital equipment sales, pathology sales, or biotechnology sales.  Today’s movie 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 clinical laboratory field usually mean things like software (hospital information systems, pharmaceutical 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 valuable reason to switch from what they were doing/using.  Pharmaceutical equipment means tangible products…everything from thermometers to imaging equipment, medical equipment, or beds, even.