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If you're giving away advertising premiums or specialties such as business card magnets, calendars, pens, notepads, jar openers, chip clips, or whatever with your contact information on it...two things can happen

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

.

It will either be a huge success or, in most cases a total failure. I'm always amused at Loan Officers that buy large quantities of calendars and sports team schedules and then rush around delivering them to p

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

ople before they become out-dated and stale.

Over the years, I have also heard the comment...A friend of mine is passing out "these things" and doing a ton of business. So, I bought 2000 of "these things," passe

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

them out. Unfortunately, it didn't generate any business for me:(

If you follow a few simple guidelines you can make advertising premiums a success. Otherwise, you're just rolling the dice and hoping for a winn

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

r.

One thing you need to remember is that advertising premiums were originally used as a thank you gift for existing clients.

Many of us benefit from this concept. Every year we receive a calendar from our insu

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ance agent or doctor. Companies do this as a reward for good clients and many times good employees.

The whole purpose of this gift is to make you feel important and wanted. And most times, it works doesn't it? I

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

is meant to create loyalty and further cement a close relationship. And on a personal level, a very attractive engagement ring accomplishes a similar feeling.

Then, something happen along the way...some creativ

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

marketing guru...thinking outside the box...said, why don't I send my "stuff" to not only my existing customers...but prospects that I want to work with as well.

The logic being, if they see my name over and ov

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

r again, they'll call me when they're ready to do business. In all honesty, our marketing guru probably owned a factory that made the "stuff." None the less, many of us bought that whole concept and then found ou

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

that it just doesn't work that way.

Here's why: When you send people who don't know you...your "stuff," just doesn't build the same fuzzy feeling of "good will." In fact, in many cases it comes off as just a ch

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

ap and corny sales ploy to get business. Many times, it will even work against you.

In spite of this, countless mortgage people will buy a ton of advertising premiums and distribute them to their prospects with

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

that well worn logic, that only one closing is needed to cover the investment.

I'm sure some of you swear by the results of using premiums. I'm also sure many more of you are actually swearing at the company tha

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

sold them to you in the first place. You're probably also calling the whole thing a total waste of time and money.

Let's look at how we can make this whole idea a success. First...you need to ask yourself this

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

uestion: How well do your prospects know you? If you have known them for years, or you have a well recognized name or niche specialty (like The FSBO Person), or you have also enclosed a letter with a thank you fo

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

their continued support, you'll get great results.

If you send that same premium out to people that have a problem remembering who exactly you are, you'll probably get no results. It's that simple.

Second, doe

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

your advertising premium enhance your position in the mortgage marketplace? Does a pen worth 19 cents help you or hinder you? You need to ask yourself both of those questions and then act accordingly.

The key t

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

success is to give your customers and prospects something that they not only value, but also enhances your position as a mortgage professional.

I must admit I'm not an advocate of using premiums in my marketing

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

However, if you're convinced this is an approach you would like to try, choose a premium such as a calendar or notepads and then enhance the value to your clients.

If your contacts have children (and most of th

.

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

m will)...enclose a letter with that premium that includes an outline of the school schedule in their district as well as important school phone numbers.

Families plan their entire lives around school schedules

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

o include various events, long weekends, and vacations. Your purpose is to enhance your position as The Family Mortgage Person. Add value and turn that inexpensive premium into something that is truly appreciated

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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The simple business card is a valuable asset to any businessman or professional. It is your own personal advertisement and calling card. The business card is not just for the salesman, however, but also for anyone in business. The business card can be printed in various forms in addition to the common black on white business card.

Call center magazines enable readers to understand complex and dynamic issues related to call centers such as marketing, management, and technology. The magazines are also a great source of contacts and information for people who are already in the telemarketing business or others who want to set up their own call centers.

Leaders can dramatically increase the likelihood that developmental activities will help them become better leaders, by taking the time to focus their efforts each year. This involves two simple steps, determining potential developmental needs and setting developmental goals. This simple act, done well helps leaders to connect a series of focused developmental activities over a twelve month period. As a result, leaders are more likely to improve their leadership impact not just their leadership knowledge.

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