How AI can increase sales for medical equipment suppliers in UAE

The healthcare industry in the United Arab Emirates (UAE) has been growing rapidly over the past few years. With a rising population and increasing healthcare spending (approx. 5.67% of GDP), the demand for medical equipment has also grown significantly. This presents a great opportunity for medical equipment suppliers in UAE to tap into this market and increase their sales.

However, given the highly competitive landscape, suppliers need cutting-edge strategies to find innovative ways and stay ahead of the curve. One technology that holds immense potential to transform sales processes for the distributors of medical and surgical supplies is Artificial Intelligence (AI). This technology helps medical equipment suppliers in UAE in various aspects of the sales process – from lead generation to closing deals.

You can consider AI as a partner that suggests how to increase sales at the moment. Here are some of the key strategies in which AI can boost sales for medical equipment suppliers in UAE.

Accurate Lead Generation

One of the biggest challenges for medical equipment suppliers in UAE is generating high-quality sales leads. With a huge healthcare sector comprising thousands of hospitals, clinics, and diagnostic centers, it becomes difficult to identify which prospects have the highest potential for sales.

AI-powered lead generation tools like Leadfeeder, Zoho SalesIQ, and LinkedIn Sales Navigator can accurately profile potential buyers based on parameters like budget, location, type of medical facilities, equipment requirements, etc.

This saves a lot of time as it provides relevant leads. These AI-powered tools help sales teams focus efforts on accounts with maximum likelihood of purchase rather than wasting time on low-potential leads.

Predictive Lead Scoring

Lead scoring helps assign a score to each generated lead based on parameters like demographics, interests, website activity, location, person profile, medical history, claims data, etc. However static rules-based scoring has limitations.

With AI like Pharmeo, IQVIA, and Oracle Healthcare, lead scoring can be taken to the next level through predictive capabilities. As the system gathers more data points on prospect behavior, machine learning algorithms can identify patterns and refine lead scores automatically. Medical device sales representatives can, therefore, prioritize the warmest leads for faster conversions.

Personalized Communication at Scale

Email and communication personalization are vital for connecting with prospects in a relevant manner. However, for suppliers catering to thousands of clients, it can be challenging to tailor messages for each prospect manually.

This is where AI chatbots and marketing automation tools come into play. These can track prospect activities to deliver dynamic product recommendations, pricing, and payment options based on their preferences over time.

The human touch can be reserved for nurturing the most mature leads. This results in more contextual buyer conversations for higher sales conversions.

Need-Based Product Recommendations

Once you know when and where to propose the right medical equipment supplies to customers, you can increase your sales even more. After mastering this trick, you can sell multiple products to the same customer and make more profits.

In today’s time, many medical equipment suppliers in UAE ignore this, but you can achieve all this by adding the facility of AI to your business. With a vast portfolio of products, sales reps may not always recommend the most optimal solutions but AI-powered recommendation engines can analyze prospect data to get a holistic view of their requirements. It will suggest all the related products to the customer and on placing 1 order, the customer may order 3 or 4 products.

Intelligent Order Management and Tracking

For distributors of medical and surgical supplies, order fulfillment is a complex process involving procurement, warehousing, shipping, etc. AI can make order management smarter by tracking orders end-to-end.

Machine learning algorithms can also forecast demand to optimize inventory levels. Intelligent warehouse robots can pick, pack, and dispatch orders most efficiently. Such benefits of AI allow suppliers to deliver faster and boost customer satisfaction.

Dynamic Pricing

Pricing medical equipment optimally is partly art and partly science. While the pricing team may define rate cards and discounts, determining the final price for each client can be tricky.

This is where AI comes in handy. By crunching numbers on past sales, competitor pricing, customer value, seasonal factors, etc., AI can suggest the ideal price to quote for each deal. Dynamic pricing allows suppliers to maximize revenues while remaining competitive.

So here, with the help of AI, you can propose a deal and negotiate regarding medical equipment supplies. This helps a lot when you have a very large location to serve and based on the location you can either give a discount of 10% or charge up 10% more and finally the product deal will be in your basket.

Accurate Sales Forecasting

Balancing supply with demand requires accurate sales forecasting. If you know when the demand will increase, you can plan and arrange for the supply of medical equipment in advance. In all this, statistical models help but they have limitations and we need something more accurate and advanced which is AI.

With machine learning algorithms processing volumes of internal sales data as well as external market signals, AI can generate highly precise forecasts. This allows medical equipment suppliers in UAE to plan inventory, production schedules, hiring, etc. in a streamlined manner. Better forecasts also mean the sales team can create achievable targets.

Intelligent Contract Management

Reviewing and approving sales contracts involves extensive paperwork, cross-checking product codes, payment terms, etc. AI-based smart contract platforms can automate much of this work and help to revolutionize sales for distributors of medical and surgical supplies in the UAE.

Natural Language Processing (NLP) enables quick scanning of documents to extract key clauses, obligations, expiration dates, etc. Required information can also be pulled from enterprise systems. AI makes contract management faster, error-free, and efficient.

Conversational Bots for Lead Engagement

Qualifying new leads and answering their queries can take up a lot of sales time. AI-powered chatbots can interact with prospects via messaging apps or websites to engage them instantly.

The bots handle basic queries while directing more complex ones to sales agents. 24/7 availability also allows leads to get quick responses instead of waiting. Bots thus act as a force multiplier to help sales teams close more deals.

Robotic Process Automation for Administrative Tasks

Salespeople often get bogged down in repetitive administrative work that takes time away from core selling. Automating such tasks through Robotic Process Automation (RPA) is an emerging AI application.

For instance, bots can be programmed to pull reports, update CRM records, and import data regarding medical equipment supplies. This all frees up to 30% of a salesperson’s time, allowing them to focus on high-value activities like building relationships and generating leads. This can translate to a 20% increase in sales.

Optimized Sales Funnels through analytics

AI analytics applied to the sales funnel can pinpoint bottlenecks causing prospects to drop off at different stages. It can be your secret weapon for uncovering hidden bottlenecks and maximizing conversions.

Business rules can then be adjusted to address these pain points. Continuous analytics also allows sales funnels to be optimized as per changing market dynamics. With higher conversion rates, sales cycles shorten allowing faster revenue realization.

Final Words

AI is making a big impact in different parts of the world by helping to complete work faster and more efficiently. It is increasingly affecting various sectors including healthcare, which contributes ~10% to the global GDP and 5.67% to UAE GDP. Therefore, distributors of medical and surgical supplies in the UAE are advised that if they opt for AI now, they can streamline medical equipment supplies operations, reduce inefficiencies, and potentially increase their business profits within a few months.

The examples above demonstrate the huge potential of AI for transforming sales operations in the medical equipment industry. For medical sales representatives and suppliers in UAE, adopting AI-based solutions should be a key element of their growth strategy.

With the ability to generate more leads, recommend better products, price intelligently, and engage prospects meaningfully, AI can drive exponential business growth. As healthcare spending in the UAE is projected to grow at over 11% annually, healthcare and hospital suppliers in UAE need to gear up to capture this demand. Investing in AI will be a smart step in that direction. Early adopters who learn to harness AI effectively will gain a distinct competitive edge in this lucrative market.

By Aradhana Nayak (aradhananayak96@gmail.com) – A health care professional and writer on Social health and community drugs.