FOXFIRE Medtech

AI is more than just a buzzword. It’s a strategic tool for MedTech companies to optimize operations and drive commercialization. Artificial intelligence is transforming our industry, from streamlining healthcare processes to enhancing decision-making. Yet, while many MedTech professionals use ChatGPT daily, most MedTech companies are still not leveraging AI strategically in their commercialization efforts. In this live webinar, we want to bridge that gap. Our goal is to educate and inspire by showcasing practical AI applications in MedTech operations, marketing, and sales. By the end of this session, you will have a clear understanding of how AI can improve market access, and accelerate growth. Join us on Friday, March 7th, for an exclusive session with Praful, CEO and co-founder of Vamstar, a leading provider of AI-powered solutions for Medical Technology, Pharmaceutical, and Biotechnology organizations. ➜ Learn how AI can enhance go-to-market strategies and commercialization by combining data-driven insights with traditional expertise ➜ Discover AI-driven solutions to improve operational efficiency, market access, and sales performance ➜ Gain a deeper understanding of how AI complements traditional MedTech insights, helping you make better strategic decisions Register now and take the first step toward making AI a competitive advantage. ↳ https://shorturl.at/PDetR

How to turn a passive distributor into an active champion A great distributor can take your product to new heights. A passive one can hold it back. So how do you ensure your distributor is proactive, engaged, and fully invested in your success? It comes down to three things. ➜ First, fair margins matter. A distributor does not thrive on incentives alone. It thrives on margins. If the numbers do not add up, they will not push your product. Ensure they can make a fair margin, but remember that comes only after they are confident in selling your product. ➜ Second, training builds confidence. Confidence drives sales, and confidence comes from training. Educate your distributors on three key areas. Your product. What makes it unique? The clinical application. How does it create impact? Sales strategy. How do they effectively position it? Equip them with the right knowledge, case studies, and competitive insights to empower them in the field. ➜ Third, communication makes or breaks partnerships. If the only time your distributor hears from you is when there is a problem, you are not building a real partnership. Regular check-ins, shared goals, and transparency foster trust. That includes sharing your own performance. Backorders, product complaints, and the steps you are taking to resolve them. A proactive distributor is not just a seller. They are an extension of your team. What is your #1 tip for supporting your distributors?

The espresso test: how to spot a truly engaged prospect Too many companies assume that interest means commitment. But commitment isn’t just words, it’s action. Here’s a simple way to test their engagement: Would they take 1 hour to sit down for a coffee and talk strategy? If the answer is no, they may not be as invested as you think. Other signs of true commitment: ➜ They reach out proactively, not just when they need something. ➜ They have a clear plan for your solution, not just vague enthusiasm. ➜ They share market insights without being asked. A strong prospect relationship is built on initiative, strategy, and ongoing dialogue. If they won’t make time for a coffee, will they make time to grow with you? What’s your go-to test for spotting a serious prospect?

Want to turn your distributors into long-term partners? Here’s how to build a strong, collaborative relationship with them: 1. Be transparent and trustworthy Share insights on product development, marketing, and sales targets. Open communication fosters trust and strengthens alignment. 2. Highlight your unique value What truly sets your product apart? A clear, compelling USP helps distributors market more effectively and win more sales. 3. Support them when they need you Equip your distributors with training, materials, and tools. A well-supported distributor is a more successful one. 4. Align on shared goals Seek partners with complementary strengths and a shared vision. Strategic alignment ensures long-term success. 5. Treat them like true partners Respect, collaboration, and involvement in key decisions make distributors feel valued, leading to stronger business outcomes. Strong partnerships drive growth. How do you foster collaboration with your distributors?

Distributors are the unsung heroes behind 80% of your revenue. It’s the wrong distributor. Choosing the right distributor isn’t just about who can sell your product. It’s about who can help you succeed long-term. Here’s what separates a great MedTech distributor from a costly mistake. 1. Regulatory knowledge A good distributor understands local compliance inside out. If they don’t, your device won’t make it to market. 2. Market expertise They should have proven success in your niche. Generalists might promise results, but specialists deliver them. 3. Sales capability Ask: How strong is their existing network? Do they have a track record of selling similar products? Distribution without sales equals storage. 4. Post-market support What happens after the sale? A distributor that offers training, servicing, and feedback loops will drive long-term adoption. Pro tip: Don’t just ask for references. Talk to their current and past clients. That’s where the real story is. Your MedTech device is only as successful as the hands that sell it. What’s your biggest challenge in finding the right distributor?