Tags |
|
|
Links |
|
|
Digg It - Marketing Secrets #101- Your Most Important Sale
Which sale is the most important one you will ever get from a
client?
I'll bet you're thinking it's your first sale with a new client. Well, it's not. It's surprising to find out that a second-time buy
I'll bet you're thinking it's your first sale with a new client. Well, it's not. It's surprising to find out that a second-time buy
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
er is at least twice as likely to buy from you again, when
compared to a first-time buyer.
The second-time client will usually buy again because you have proved that you add value to his/her life. The
The second-time client will usually buy again because you have proved that you add value to his/her life. The
; 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
ustomer who has had his/her wants and
needs fulfilled comes back for more.
It's very important to know where your profits will be made. They are either made on the 'front end,' at the time of the first
It's very important to know where your profits will be made. They are either made on the 'front end,' at the time of the first
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
sale, or they are made on additional, 'back-end' sales.
Are your products/services the type that will result in repeat business? If so, your initial sale could be small, but be designed to lead to many
Are your products/services the type that will result in repeat business? If so, your initial sale could be small, but be designed to lead to many
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
arger and more profitable sales.
Most businesses profit more from additional sales than they do from first sales. For that reason, it's important to know whether you want a customer for the long term or
Most businesses profit more from additional sales than they do from first sales. For that reason, it's important to know whether you want a customer for the long term or
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
if you're making a
'one-shot' sale.
Is your marketing designed to generate additional sales, or is your focus more 'single sale' oriented?
QUOTE: 'Wisdom is knowing what to do next, skill is knowing how
Is your marketing designed to generate additional sales, or is your focus more 'single sale' oriented?
QUOTE: 'Wisdom is knowing what to do next, skill is knowing how
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
to
do it, and virtue is doing it.' - David Starr Jordan
Although 'back-end' sales are vital to the survival of most businesses, one of the biggest mistakes that many businesses make is NOT capturing v
Although 'back-end' sales are vital to the survival of most businesses, one of the biggest mistakes that many businesses make is NOT capturing v
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
aluable client information so that they
know which customers are returning to buy again.
If you don't keep client information showing which customers are coming back to you, then you can't use this infor
If you don't keep client information showing which customers are coming back to you, then you can't use this infor
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ation to
stay in contact with them and sell them more products/services.
I have gone into a local hobby store several times during the last three weeks. Do you think they have ever asked me for any of
I have gone into a local hobby store several times during the last three weeks. Do you think they have ever asked me for any of
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
my contact information? Do you think they are keeping
track of the models or supplies that I have been purchasing?
Over the course of these three weeks I have easily spent at least $200.00 on various pr
Over the course of these three weeks I have easily spent at least $200.00 on various pr
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ducts/services for my son. You would
think that they would want to make sure I had a good reason to
come back.
Now, if they had asked for my info and tracked the types of things I had purchased, they c
Now, if they had asked for my info and tracked the types of things I had purchased, they c
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
ould then mail (or email) me
marketing offers relating to what I had been buying.
If they had my contact information, then they could let me know about upcoming sales or special offers. And if they ha
If they had my contact information, then they could let me know about upcoming sales or special offers. And if they ha
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
en't got my information, then they probably don't have
information on other customers either.
The point I'm making here is that by not capturing this information, they may be leaving a lot of money out o
The point I'm making here is that by not capturing this information, they may be leaving a lot of money out o
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
f their
cash register.
QUOTE: 'Autumn is a second spring where every leaf is a flower.' - Albert Camus
Many businesses are not overly concerned with making a profit on the first sale to a new client
QUOTE: 'Autumn is a second spring where every leaf is a flower.' - Albert Camus
Many businesses are not overly concerned with making a profit on the first sale to a new client
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
ecause they have calculated
that their profits will come from future sales.
In other words, they know that they will profit from repeat sales to existing clients. If you know that one out of every three
In other words, they know that they will profit from repeat sales to existing clients. If you know that one out of every three
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
customers who makes a purchase from your business will
purchase repeatedly, you can take a reasonable loss on your
first sale.
The key is getting them in the door the first time. If you can do that,
The key is getting them in the door the first time. If you can do that,
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
hen you know that you will profit in the future. So some
of your marketing efforts should be designed to 'hook' the first
time buyer.
But it is equally important that some of your marketing efforts are
But it is equally important that some of your marketing efforts are
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
designed to bring repeat customers back to you.
Does your marketing strategy include efforts to both bring in new customers and keep the 'back-end' sales coming in?
** Attn Ezine editors / Site owners **
Does your marketing strategy include efforts to both bring in new customers and keep the 'back-end' sales coming in?
** Attn Ezine editors / Site owners **
.
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
Feel free to reprint this article in its entirety in
your ezine or on your site so long as you leave
all links in place, do not modify the content and
include our resource box as listed above.
If you
If you
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
do use the material please send us a note
so we can take a look. Thanks.
© Silent Partner Publishing
10 W. Square Lake Road, Suite 214
Bloomfield Hills, MI 48302
(248) 335-8080 -=-=-=-=-=-=
© Silent Partner Publishing
10 W. Square Lake Road, Suite 214
Bloomfield Hills, MI 48302
(248) 335-8080 -=-=-=-=-=-=
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.diggit.org.ua/article/29421/diggit-Marketing-Secrets-101-Your-Most-Important-Sale.html">Marketing Secrets #101- Your Most Important Sale</a>
BB link (for phorums):
[url=http://www.diggit.org.ua/article/29421/diggit-Marketing-Secrets-101-Your-Most-Important-Sale.html]Marketing Secrets #101- Your Most Important Sale[/url]
Related Articles:
Little Known Interview Tips That Put You Over The Top-Part 2
Bookmark it:
|