Challenge

Wound Care Technologies, a Baxter (NYSE: BAX) brand, was struggling to retain sales of their DermaClose® product to surgeons. Selling the first usage of the product did not seem to be an issue; however, this first time purchase was not leading to a recurring usage of the device, making ongoing sales was a major obstacle that was significantly impacting the ability to grow revenue.

Solution

Wound Care Technologies partnered with us to gain an understanding of the segments of their market beyond simple, superficial demographics.

Key Insights to Drive Actions

Wound Care Technologies partnered with Vennli to gain an understanding of the segments of their market beyond simple, superficial demographics.

To improve the adoption of the DermaClose® device, management needed to understand:
• What segments currently exist in the market
• Who their core customer is
• Who their next target should be within the market
• What segments their competitors own and why

By working with our team to answer these questions, Wound Care Technologies was able to learn about their market segments at a deeper, more behavioral level including discerning what was most important to them, what factors influenced how they chose between competitors, and what level of product experience was needed to affect future sales.

With this information, we guided the team in developing a targeting strategy that would drive their bottom line.

Results

As a result of truly understanding the best customer segments to target, Wound Care Technologies shifted its strategy and saved valuable time and resources that would have been spent on product development to instead make impactful changes to their sales training program. The sales team was equipped with better product training and were incentivized to focus on selling a pack of five devices at one time. Accordingly, they delivered an additional 10% growth for the organization through sales of the DermaClose® product.

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