New Flow Cytometry Product Configuration to Increase Sales Volume
This project was conducted at a clinical oncology laboratory specializing in hematology and solid tumors. This was a cross functional collaboration between marketing and flow cytometry. The goal of the project was to become more competitive, increase sales volumes and increase profit margins. This was done by determining pricing for the new flow cytometry panels, creating new report layouts, testing directory and requisition capabilities, updating the company website and digital portal, performing a SWOTT analysis and creating marketing materials and customer and sales training materials. One of the largest benefits of the new panel configurations is the labor cost savings. There has been a 50% reduction in the number of tubes used for the flow assay. With the reduction of tubes, the turnaround time for processing has also decreased which is a huge benefit to clients. The amount of specimen required has also decreased which benefits clients, especially when multiple tests are required demanding the sample be partitioned between different technologies. To assess the value of the new panel configurations, a financial analysis to compare cost margins from 2017 to 2018 will need to be conducted together with a comparison of tests being ordered to ascertain whether the changes made have had an impact on driving new sales. It will also be important to further expand the marketing materials for the new flow assay with an interactive sales module to enable sales associates to demonstrate product features to the client on an iPad.