The elusive but important contact: the C-suite executive
Almost every time I have a conversation with a friend from the vendor world, the topic of "getting to the C-suite" comes up. Anyone trying to do business with a hospital or health system sees the Holy Grail as that meeting in the CEO's office where the sale that has seemed so difficult suddenly gets the green light from the Big Kahuna. Even seasoned veterans of the product and service world seem to have this vision dancing in their heads. For instance, I had lunch recently with an entrepreneur who has made quite a bit of money starting and selling new healthcare companies. He's now working with another startup, and though things seem to be going along well, he can't get meetings with C-suite healthcare executives and is puzzled as to why that is the case. 
First of all, I think this notion, while it makes sense in some cases, has to be understood in a context. There are protocols to sales. You need to begin by calling on the point people who are tasked with investigating new products. You can also try their bosses or the clinical people who might use the product. Going over someone's head can too often complicate the selling process and even be fatal to the relationship. Also, some kinds of offerings never rise to the C-suite level; it may be a materials manager or surgery director who makes the call.
The notion of cutting through the red tape and finding the "real decision maker" is alluring, but is only a good strategy when the product you are pitching addresses an organizational imperative. A problem that has vexed the CEO (revenue cycle, IT implementation, patient experience, etc.) is best. But you need to start by finding a champion a little lower down the totem pole.
Once you do get a hearing, for goodness sake, be prepared! I have been observing this problem for decades. I was once the person trying to sell the top execs. I have also spent countless hours talking to senior leaders about their vendor experiences. What I hear from them is that many of the presentations they see from healthcare vendors aren't very impressive. The salespeople lack understanding and empathy for what the exec is facing. Often they fail to make a case for why their product or service is going to help the healthcare organization's operations. And often when the moment of truth arrives after a series of meetings, the vendor is unprepared to close the deal.
Also, get the right person to make the sale. Recently, the CEO of a major health system told me a story about a vendor contract that was up for renewal. Per standing operating procedure, the organization sought bids from other medical supply companies as well as the current vendor. "We had a series of meetings with all the suppliers who competed for our business," the CEO told me. "In every case except one the top executive and his team made the presentation to our executive team. But the company that had had our business and claimed they wanted to keep it sent in their third-string team instead of their top people. Because of their indifference we went with another vendor. Naturally, they got upset, and the president of the company came to see me and begged to keep the business. But we had made our decision and we stayed with it."
Now back to my lunch with the entrepreneur who was having a hard time getting to "the right people.” I asked him how much networking he was doing by going to various meetings and conferences. He told me that he just didn't have the time to do so but understood that he would have to do more of that to gain visibility for his company. I told him there really is no secret to success in selling in or out of healthcare. If you want to get to the real decision makers, you need to attend the meetings they attend and get to know them personally.
Willie Sutton, the notorious bank robber whose career spanned the 1920s to the 1950s, when asked why he robbed banks, told the interviewer it was "because that's where the money is." It was as simple as that! So if you want to get to the right people in healthcare you have to go to conferences and other venues they attend and introduce yourself, invite them to dinner or an event you might hold during the conference. Even better, make a presentation of research results or something pertaining to your company's field of expertise. By demonstrating thought leadership, you may find the health system executives coming up to you! Later, your sales calls might not fall on deaf ears.
Selling to the C-suite is often the right goal, but it is more complex than a phone call or email. You need to understand how to reach out, and when you get an audience, you had better bring your A-game!
One networking opportunity to consider is the Becker's Hospital Review 5th Annual Meeting, March 15-17, in Chicago. To learn more, click here.