How can you negotiate with vendors to get your products into clinical trials?

Getting your products into clinical trials is a crucial step for medical sales professionals who want to showcase the value and efficacy of their solutions. However, negotiating with vendors who run or sponsor clinical trials can be challenging, as they may have different priorities, preferences, and processes than your regular customers. In this article, you will learn some tips and strategies to help you negotiate with vendors and secure your products for clinical trials.

1 Identify your target vendors

Before you approach any vendor, you need to do some research and identify the ones that are most likely to be interested in your products and have the capacity and resources to conduct clinical trials. You can use various sources of information, such as industry publications, online databases, professional networks, and referrals, to find out which vendors are active in your therapeutic area, what kind of trials they are running or planning, and what kind of products they are looking for. You should also assess their reputation, credibility, and track record in the field, as well as their financial stability and ethical standards.

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Abdul Qadeer Qureshi

Senior Product Manager at Horizon Pharma Karachi
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1. Research and Preparation: Understand your needs and objectives for the trial. Research the vendor's product thoroughly to identify key features and benefits. 2.nitiate Contact: Reach out to the vendor expressing interest in their product for a trial. - Highlight your company's background and the potential value of collaboration. 3. Clearly Define Objectives. Clearly outline the goals and objectives of the trial period. Specify key performance indicators (KPIs) to measure the success of the trial. 4.Discuss Trial Terms. Negotiate the duration of the trial and any specific conditions. Address concerns related to implementation, support, and scalability.

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2 Build rapport and trust

Once you have a list of potential vendors, you need to establish rapport and trust with them before you pitch your products. You can do this by reaching out to them via email, phone, or social media, and expressing your interest and appreciation for their work. You should also demonstrate your knowledge and expertise in the field, and share relevant information or insights that might be useful or valuable to them. You should also ask open-ended questions to learn more about their needs, goals, challenges, and expectations, and listen actively to their responses. By doing this, you will show that you are not just trying to sell them something, but that you genuinely care about their success and want to help them achieve it.

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3 Highlight your value proposition

After you have built rapport and trust with your vendors, you can start to present your products and highlight your value proposition. You should focus on how your products can help them solve their problems, meet their objectives, and improve their outcomes. You should also emphasize how your products are different from or better than the alternatives, and provide evidence or testimonials to back up your claims. You should also address any potential objections or concerns that they might have, such as cost, quality, safety, or compatibility, and explain how you can overcome or mitigate them.

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4 Negotiate the terms and conditions

If your vendors are interested in your products and want to proceed with the clinical trials, you need to negotiate the terms and conditions of the agreement. You should be clear about what you expect from them and what they expect from you, such as the scope, duration, budget, payment, deliverables, milestones, and feedback. You should also discuss how you will handle any issues or risks that might arise during the trial, such as delays, changes, disputes, or adverse events. You should aim for a win-win outcome that benefits both parties and reflects the value and quality of your products.

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5 Follow up and maintain communication

After you have reached an agreement with your vendors, you need to follow up and maintain communication throughout the clinical trial process. You should confirm the details of the contract in writing and send them any documents or materials that they need to start the trial. You should also check in regularly with them to monitor the progress, provide support, and address any questions or issues that they might have. You should also solicit feedback and suggestions from them and use them to improve your products and services. By doing this, you will build a long-term relationship with your vendors and increase your chances of getting positive results and referrals from the trial.

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Deepankar Chugh

Boston Scientific | EndoLuminal Surgery (North, East and Central India) | IIM Calcutta (What I write on LinkedIn are my views and not related to my Organisation)
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The follow up circle is of prime importance. If the agreement is in place then a strong follow up is needed. This ensures that loops are closed and constant communications makes sure, that the vendors remember you and the task at hand.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you negotiate with vendors to get your products into clinical trials?

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1 Identify your target vendors

2 Build rapport and trust

3 Highlight your value proposition

4 Negotiate the terms and conditions

5 Follow up and maintain communication

6 Here’s what else to consider

Medical Sales

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