Medical Supply Industry: Pitfalls to Avoid
The medical supply industry is in a transitional period. Many of the old school companies are still conducting pen-and-paper sales over the phone, with waning success. The pioneering companies that are conducting business online, however, are seeing their business-to-business medical supply sales explode. So, what are the main pitfalls to avoid when taking medical supply operations online, and how do you achieve success in this changing industry?
4MD Medical Customer Success Story
4MD Medical is a nationwide distributor of medical equipment, supplies, EMS and laboratory equipment. Serving consumers, hospitals, laboratories, and healthcare facilities – being business-to-consumer, business-to-business and business-to-institution optimized was the immediate goal for 4MD Medical to achieve revenue growth and expansion in these markets.
4MD Medical had the vision to make shopping online for medical supply necessities effortless and convenient for busy medical professionals, consumers, government agencies and health industry businesses. The company needed:
- Agile solution capable of growth
- B2B selling functionalities
- Simple, usable web design
- Configurable products
Without a platform able to meet the requirements of selling to multiple customer bases and without an efficient online retail site; the potential for 4MD Medical was limited.
The company decided on Magento Enterprise Edition because of the platform’s robust functionality and ability to grow with their quickly-expanding company. With the platform, 4MD Medical:
- Added 200,000 plus new SKUs
- Engaged customer segmentation and separate product catalogs
- Achieved mobile optimization
- Added custom integrations for B2B sales
- Attained faster load times
Site load time and search result times decreased to best practice standards, allowing 4MD Medical to add 200,000 additional products to the site – an increase of 50 percent.
With an increase of 24% in Average Order Volume and 40% in Customer Conversion Rate after upgrading from Magento Community to Enterprise – 4MD Medical is able to focus on strategic business initiatives like expanding B2B sales.
All of these wins have added up to 4MD achieving their main business goal: Increasing revenue by providing an efficient and effortless shopping experience to their customer base. Magento Enterprise Edition and Web Solutions NYC made the company’s vision into a tangible product that delivers returns now and in the future for 4MD Medical.