Five Tips to ‘Revenue Proof’ Your Supply Chain

For the thousands of businesses that manufacture and sell medical devices to companies who, in turn, sell to other companies, marketing is about being present, brand forward, and generating awareness paired with establishing, developing, and maintaining strong existing customer relationships.

While some of those terms may sound like buzz words, the end result means a better bottom line for the enterprise. Not only is maximized sales good business, it is infinitely more profitable to service existing customers than to prospect for new ones.

Digital Tools
There are numerous online only tactics to properly stretch branding reach. Examples include offering a comprehensive FAQ (frequently asked questions) section on the company’s website, maintaining (and using) a dedicated subscription-based email list, providing attractive incentives, and implementing strong calls-to-action.

There are also several online and offline tools that, when used in conjunction with a strong digital foundation, can help to “revenue proof” a company’s supply chain.

Tip 1: Connect & Contact
Create a “connect and contact” piece of collateral for each step of a customer supply chain. While the primary relationship may be with the enterprise buyer, make maintaining inventory levels easier by creating a branded flier, poster, sticker, or other material visible as your product goes through a customer’s supply chain.

Companies can even take it one step further by incorporating a QR code into this piece, making it easier for the customer to “scan,” which enables all team members to alert the buyer or company that more stock is required.

Tip 2: Consistency Checks
As companies grow and roles shift, new online properties, offline channels, and supply partnerships may be created, allowing for branding in new or updated locations. Afterwards, old logos may lurk in places in which the marketing teams aren’t even aware.

Conduct frequent, consistent checks online and offline for the company’s brand name to ensure tag lines, logos, and similar elements are current. Otherwise, a customer may become confused by outdated marketing endeavors.

Tip 3: The Impartial Observer
It is good practice to include an independent team (either in-house or outsourced) to keep an eye on opportunities to connect and engage with existing customers and prospects while seeking new relationships. The team can use several tools to accomplish this—newsletters, text campaigns, suggestion boxes, and polls are several examples.

It is crucial to know the people and supply chain positions through which a product can connect in order to broaden a company’s reach and benefit from branding. For example, track white paper downloads through Google Analytics or similar tools to examine and report on areas where these efforts are gaining traction.

Tip 4: Consider Others’ Opinions
Be aware of and court customer endorsements. Like it or not, we live in an increasingly review-based world online. This is classic reputation management in reverse.

Rather than being forced to do damage control, proactively nourish and encourage favorable reviews from happy customers. These unbiased reviews carry tremendous weight, showcase a company as an authority in the field, and encourage new business.

Tip 5: Value and Inform Employees
The most important assets—employees—can be brand champions, accidental sales team members, and company ambassadors. Communicate regularly with them via in-house newsletters and bulletins, surveys, intranet site, and similar tools to cultivate and invite interaction. The goodwill, feeling of place and security, and message of endorsement they present to prospects, customers, and partners is significant. The old mantra still rings true—take care of your employees and they’ll take care of your customers.
It cannot be overstated; everything considered “old world marketing” as it pertains to branding, brand awareness, and supply chain marketing is still relevant in the internet age.

The Simplest Concepts Are Still Crucial

• Be constant with packaging and brand identity.
• Leverage existing customers to obtain new customers.
• Make employees (from warehouse staff to sales) excited to talk about the company.
• Regularly and carefully scrutinize customer feedback, reviews, and endorsements; respond and make adjustments as necessary.
• Similarly, conduct employee and workplace morale reviews regularly to ensure when employees are discussing the company, it is positive.
• Have a strong call-to-action as part of the overall branding; make it part of the tagline if possible.

Whenever and wherever possible, incentivize existing customers to continue business with the company while encouraging new customers to start. Implement these simple, age-old techniques along the medical device supply chain and it will go a long way to making it “revenue proof.”  

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Nicole Weber is the founder of Spot Color Marketing and has worked professionally in marketing for over 20 years. She can be reached at [email protected].