Digg It - Business

Sales are down, and I need more customers now! Sound familiar? Maybe you are the one who said it. I know what you’re thinking, there’s no magic pill for delivering immediate results and no spontaneous marketing ef

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

fort that will skyrocket sales. You’re right, there isn’t. Sure, you could launch some catchy TV or radio ad that would spike sales. Of course the initial investment is risky when unpredictable results could leave

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

Examples of combination products may in

you breaking even or worse, losing money. Some businesses feel that throwing more sales people at the problem will equate to increased sales. Although more sales people may be necessary to grow your business, this

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

is not the right answer either.

If you want immediate results, you need to have a strategy to create sales consistently. Thus, you avoid the need all together to market for immediacy. I would rather have immediat

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

e results happening all the time, wouldn’t you? So how do I continually grow sales? Here are my Top 5 Ways to Market for Immediate Results:

1. Network – Be involved in industry organizations, referral-generating o

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

Combination pro

rganizations, and show up at networking events where your clients are. There are many good organizations that may be a fit for your business. Test them out before joining, and then make a commitment to participate

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

at a level that positions you as the expert in the group for your field. Referral groups are much more valuable than groups that meet just to pass leads. Referrals have a much higher rate of converting to customers

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

than leads do. Networking has to be a key part of your marketing plan as it is possible to get immediate results by attending the functions.

2. Thank New Business – New business is hard to get. Once you get it, y

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

ou have to thank them for it. Many businesses have no mechanism in place to thank their new customers. Depending on your type of business, you can show appreciation to someone in a variety of ways. The key is to m

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

ake it as personal and genuine as possible and still be able to systemize the process. If you don’t set up a system, thanking your customers will always fall to the back burner. Taking the time to say “thanks” will

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

leave an impact resulting in more business referrals and more loyal customers.

3. Reward Referrals – Every referral you get should be rewarded in some way. The reward should leave the impression that you really ap

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

Following aspects would a

preciate the referral. Again, this must be systemized, or it won’t get done. The better you do at thanking the source of the referral, the more you will stay at the top of their mind. They’ll look for more ways to

dd to the challenges in developing combination products:

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

refer you business. This is an opportunity to be very creative. One of the companies we work with mails a real coconut, cut in half and equipped with a zipper for opening. Each coconut contains a thank you card a

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

nd invitation to attend an appreciation party with a chance to win a trip to Cancun, Mexico. Imagine getting that in the mail!

4. Go Online – Use your website and email as tools to market and grow your business. T

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

his is important for almost any business regardless of size. A good website with the essentials about your company and how you have differentiated yourself is a must. Key word search marketing and search engine opt

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

imization can open up the floodgates for new business fairly quickly. Investments in online marketing are very cost effective with most key words at around ten cents per click thru to your website. We have clients

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

Professional from academic institutions, pharmaceutical industries, health care indust

spending less than $50 a month in key word marketing and getting huge results.

5. Talk To Your Database – A database of customers and prospects is the most important asset any company can build. This will allow you

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

to integrate marketing campaigns that will have great returns. We work with a specialty retailer who has focused on growing a customer and prospect database. We helped them put together a plan including direct mai

.

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

l, email, and a supporting flight of radio ads concentrated in what was typically a slower month for them. The result was a doubling of same-store sales from a year ago.

These 5 activities will help you avoid the p

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

Companies that provide selfless information through particip

anic of, “WE NEED MORE SALES!” An ongoing strategy is much more important than a short-term fix to market for immediate business. The little planning required by these activities will deliver great ongoing results.

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/29703/diggit-5-Ways-to-Market-for-Immediate-Results.html">5 Ways to Market for Immediate Results</a>

BB link (for phorums):
[url=http://www.diggit.org.ua/article/29703/diggit-5-Ways-to-Market-for-Immediate-Results.html]5 Ways to Market for Immediate Results[/url]

The Internet, whether through public Web sites, search engines, Internet radio broadcasts, and e-mail are very targeted. It is shown to reach the right target at the right time with the right message.

Financial Planners work hard and must know their stuff. Usually they get their start in the industry working for a wire house or stock broker company and learn exactly what they do not like about the business and why.

When search for the ultimate passive income generating system, it will be essential to research the project to see if is in fact, worth of time and effort.

Tags

Links

Digg It - 5 Ways to Market for Immediate Results

Related Articles: