By Henri Cattier, Partner, Commonwealth Health Advisors
It is a rite of passage that anyone that spends a considerable amount of time during their career in a direct sales role self-identifies with a favorite film that tackles the high-points and absurdities of being a front-line growth contributor. It’s a great career but sometimes you just need to laugh. The list of “Sales’ movies, all of which are eminently quotable, is long and storied: Baby Boom, Wall Street, Tin Men, Tommy Boy, Boiler Room and my favorite, the David Mamet classic play turned film, Glengarry Glen Ross. Beyond the A+ Cast with Jack Lemmon, Alan Arkin, Al Pacino, Jonathan Pryce, Kevin Spacey and scene stealer Alec Baldwin all delivering the goods, it is chock full of colorful metaphors, crudely real dialogue, familiar character types and more than a few truisms. The core of the story revolves around the elusive and potent Glengarry Leads.
Qualified leads are not just the lifeblood of the sales executive, but in a greater sense, they are of every growth oriented organization. The more of and the better quality of those leads, the higher the probability that sales targets will be exceeded. Pretty simple math really.
There has never been a better time for small companies to compete with larger established incumbents because of the leveling and disruptive effect that “Growth Operations” firms are having to smart adopters. Growth Operations is an emerging term that encompasses everything from list brokerage services, customer relationship management software, marketing automation tools and sales productivity dashboards. Companies that choose the most appropriate vendors, based on their industry and budgets, and ensure that those systems integrate key prospect, client and rep data will win. Easier said than done.
The base of the Growth Operations pyramid is the lead source data. In Healthcare, like all other industries, addressable market data is a frustratingly fluid. Hospitals are acquiring each other, smaller independent providers are joining larger groups or selling out to the hospital, new entities like urgent care and retail clinics seems to be proliferating in every strip mall. Keeping track of all these changes is no easy game. Thankfully, there are SaaS firms, like Definitive Healthcare, that do it well and have enabled healthcare technology services, of all sizes and segments, to leverage this contact data for their growth strategy.
This past week Definitive Healthcare acquired Billian’s HealthDATA business intelligence data asset. This is a smart move. Curating provider lists is an expensive endeavor and the cycle of obsolescence of the data integrity is amazingly short. The combination of these two players is good for the industry and great for healthcare tech services firms looking for reliable and accurate lead data so they can compete on the big stage.