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Digg It - Internet Marketing Today and Beyond
I have determined that although things change over time, some things still remain the same.
I know it has been highly overstated, but Internet Marketing is similar to the gold rush of the "good ol' days". Everyone comes with expectations of becoming rich overnight.
With the above stated, let me ask you a question...Do you know or know of ANYONE that has struck it rich online overnight? I don't, and
I know it has been highly overstated, but Internet Marketing is similar to the gold rush of the "good ol' days". Everyone comes with expectations of becoming rich overnight.
With the above stated, let me ask you a question...Do you know or know of ANYONE that has struck it rich online overnight? I don't, and
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
I know of a lot of people!
I have owned two offline business in the past 12 years, and both took tons of time to build up. I built up inventory, developed a customer base, retained the customer base, continually tried to get new customers, over delivered, and starved for years in each while I put back every dime into the business to help it grow. But I had a PLAN and I stuck to it. Of course as times
I have owned two offline business in the past 12 years, and both took tons of time to build up. I built up inventory, developed a customer base, retained the customer base, continually tried to get new customers, over delivered, and starved for years in each while I put back every dime into the business to help it grow. But I had a PLAN and I stuck to it. Of course as times
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
progressed my plans were modified, but it was sure easier to modify something that was already in existence than to "wing" it as so many do! My last business opened it's doors on September 1, 2001. Do you think my plan took into account the events of 9/11? Nope. My business was retail automotive parts for enthusiasts, and everything I sold were items that were not "necessary", but helped customize veh
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
cles. After 9/11 people stopped spending on luxury or "un-necessary" items, and my business floundered horribly!
BUT, because I had already written up a plan of attack, I was able to go back and revise it. I suppose I could have just either given up or jumped into selling "whatever", but instead I revised my plan and focused in on how I could still attract customers who were now afraid to spend. My m
BUT, because I had already written up a plan of attack, I was able to go back and revise it. I suppose I could have just either given up or jumped into selling "whatever", but instead I revised my plan and focused in on how I could still attract customers who were now afraid to spend. My m
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
arketing strategy changed and I used people's emotions and fears (at the time) to focus them in on the positives of spending some extra money on themselves, and how they could feel better about it! I targeted my ads towards American Made products as well, which really helped my bottom line. The patriotism at the time was astounding, and buying "American" was my ticket to success! Don't get me wrong, t
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
e products I sold did add value to my customers, so everyone won in the end!
The moral or point to my little story is that by having a "plan" I was able to sit down and re-read my goals and how I was going to achieve them, then modify. I honestly believe without a plan, I would have closed up within six months of 9/11.
Now I know the internet is a completely different game than the offline retail wo
The moral or point to my little story is that by having a "plan" I was able to sit down and re-read my goals and how I was going to achieve them, then modify. I honestly believe without a plan, I would have closed up within six months of 9/11.
Now I know the internet is a completely different game than the offline retail wo
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
ld, but the rules are not so different, it just the amount of money needed to "start" is relatively small in comparison.
Even still, the work load and customer relations aspect does not change!! Nothing happens overnight unless you hit the lottery. So although you are using a computer instead of a brick and mortar store, you still have the basics of business building you need to tend to.
-Develop a
Even still, the work load and customer relations aspect does not change!! Nothing happens overnight unless you hit the lottery. So although you are using a computer instead of a brick and mortar store, you still have the basics of business building you need to tend to.
-Develop a
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
business plan
-Know your market
-Have written definable goals
-Know your Income avenues
-Value-Value-Value
-Communicate with your customers, not TO them
-Have a mechanism to retain existing customers
-Always be studying your market and their needs
-The Lego principle
Ok, the last one might have thrown you. "The Lego Principle" is a phrase I like to use to descr
-Know your market
-Have written definable goals
-Know your Income avenues
-Value-Value-Value
-Communicate with your customers, not TO them
-Have a mechanism to retain existing customers
-Always be studying your market and their needs
-The Lego principle
Ok, the last one might have thrown you. "The Lego Principle" is a phrase I like to use to descr
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
be the types of business I like to start. The principle is this...Develop a business that is easily build-able. I know build-able isn't really a word, but it fit's and you know what I mean. When you are sitting down and either reviewing your existing business or trying to develop a new one, think long term. Lego's are building blocks that universally fit with each other. You can buy multiple kits and
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
hey can make hundreds of different combinations of things, only limited by your imagination! The key is that they all fit together!
Your business should be the same way. You may only start out with one product, but you should have a way to "build" on that product and add to it, modify it, expand and grow it in hundreds of different ways, and still all be appealing to your customers. Each new product
Your business should be the same way. You may only start out with one product, but you should have a way to "build" on that product and add to it, modify it, expand and grow it in hundreds of different ways, and still all be appealing to your customers. Each new product
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
hould add value to an existing product, all the while helping add value to your customers.
Back to your plan...In your business plan you should outline EVERYTHING. Yeah, you want to ensure it will be profitable, but let me tell you a secret...STUDY YOUR DEMOGRAPHIC. Know your customer. Know what they eat, where they shop, what they buy, who they hang out with...everything. By knowing this you can bet
Back to your plan...In your business plan you should outline EVERYTHING. Yeah, you want to ensure it will be profitable, but let me tell you a secret...STUDY YOUR DEMOGRAPHIC. Know your customer. Know what they eat, where they shop, what they buy, who they hang out with...everything. By knowing this you can bet
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ter serve them and give them what they want.
Amongst the hundreds of other things to keep in mind when starting/building a business online, I want to add another item you NEED to think about when working for yourself.
Keep in mind one question...Why is your business so damn different from every other one in your niche? If you can't answer this, than you need to re-think your business plan.
If you a
Amongst the hundreds of other things to keep in mind when starting/building a business online, I want to add another item you NEED to think about when working for yourself.
Keep in mind one question...Why is your business so damn different from every other one in your niche? If you can't answer this, than you need to re-think your business plan.
If you a
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
e selling an e-book on how to improve your golf swing, WHY would someone pick out YOUR e-book over the other ones? Yeah, you may have a unique twist (at least I hope you do!), but really, is it THAT different that it can compete against the others? Is your marketing and copy so much better?
Look, in today's fast moving internet world, products are being developed and marketed everyday. Even down to t
Look, in today's fast moving internet world, products are being developed and marketed everyday. Even down to t
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
e micro-niches, markets are oversaturated. How the hell do you plan to compete with the products that are already established? How will you prove to your market that your product is worthy? Why should I buy your product when I have never heard of you, and there are plenty of other choices that are so much easier to buy?
I'm Joe Consumer and I'm lazy. I don't want to think, I want to buy. I buy what I
I'm Joe Consumer and I'm lazy. I don't want to think, I want to buy. I buy what I
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
know, and what I have heard works. Word of mouth means much more to me than some crazy 10 page sales copy. YOU may love your product, but why should I?
Do you understand what I am getting at here? I am playing devil's advocate, but I want you to think. If you can't honestly answer any of the questions I just asked you with absolute and resounding answers, than you have a problem.
Yes, a product has
Do you understand what I am getting at here? I am playing devil's advocate, but I want you to think. If you can't honestly answer any of the questions I just asked you with absolute and resounding answers, than you have a problem.
Yes, a product has
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
to have value for the customer, and yes over-delivering is important. But just as important is how you portray your product and position yourself in your respective marketplace.
Do you honestly think just because "you build it, they will come"? Not anymore. Consumers are smarter, lazier, and are immune to hype tactics. I know as IMers we can pick out a "hypey" sales letter and ploy a mile away, but g
Do you honestly think just because "you build it, they will come"? Not anymore. Consumers are smarter, lazier, and are immune to hype tactics. I know as IMers we can pick out a "hypey" sales letter and ploy a mile away, but g
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
ess what, with the influx of wannabe IMers pumping out sales pages on everything under the sun, consumers are immune as well.
I can't answer the question for you, but you honestly need to sit down and THINK about your market. Again, value is important, but standing out in a crowd and generating word-of-mouth is equally important, and if forgotten...you will not even be a "blip" on a consumers radar s
I can't answer the question for you, but you honestly need to sit down and THINK about your market. Again, value is important, but standing out in a crowd and generating word-of-mouth is equally important, and if forgotten...you will not even be a "blip" on a consumers radar s
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
creen.
I understand that starting or building a business in the internet world can be a daunting and overwhelming task. It should be! There is a lot to think about. With the number of marketers jumping online each and every day, you have a lot of competition. Granted, most just toss up a page with a cheesy product and hope it sells (throwing darts blindfolded), and that will make your product look ev
I understand that starting or building a business in the internet world can be a daunting and overwhelming task. It should be! There is a lot to think about. With the number of marketers jumping online each and every day, you have a lot of competition. Granted, most just toss up a page with a cheesy product and hope it sells (throwing darts blindfolded), and that will make your product look ev
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
n better, BUT...They also make it harder to sell for you. Why? Because the consumer can't type anything into Google without coming to a page where someone is trying to sell them something. And every time they come across one of your competitors sales pages, they become only that much more immune to yours.
So to wrap this up I will leave you with one final question....
DOES YOUR BUSINESS HAVE A PLAN
So to wrap this up I will leave you with one final question....
DOES YOUR BUSINESS HAVE A PLAN
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
HAT DIFFERENTIATES YOU FROM THE CROWD WHILE PROVIDING AN AVENUE FOR INCREASED LONG TERM PROFITS AND CONTINUALLY ADD'S VALUE TO YOUR CUSTOMERS?
If not, you might want to rethink your business. Long term success online will continually get more crowded. What once worked will fail, and only those who stay ahead of the curve will succeed.
Keith Boisvert
www.outlawmarketing.net
www.outlaw-fx.co
If not, you might want to rethink your business. Long term success online will continually get more crowded. What once worked will fail, and only those who stay ahead of the curve will succeed.
Keith Boisvert
www.outlawmarketing.net
www.outlaw-fx.co
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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