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Digg It - Lead Generation: What Is It worth?
Our business environment has changed dramatically. Companies must now be disciplined and market-driven if they want to stay alive. They must do more - much more - than create a buzz, or have a well-known brand. Just read the papers: the stock and balance sheets of brand names have plummeted faster, in some cases, than the unknown companies.
As a result the sales discipline is moving into a new-found call to action for lead generation. If you don't take this oppo
As a result the sales discipline is moving into a new-found call to action for lead generation. If you don't take this oppo
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
rtunity to redefine what sales can be, it will remain just another format for finding a way to get your product pitches heard. It's time to recognize that sales is not a one-off event: it is a process that needs to be mapped out and integrated thoroughly - from product creation, to supporting a buyer's discovery of how your product fits into their business initiatives or personal agendas, to supporting the manufacturing of the product, the shipping, follow-up, an
; 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
d service. The longer you hold on to the belief that sales is a tactical activity rather than a strategic one, you're going to be at the mercy of market forces. Not to mention see our products become a commodity.
Indeed, it's time to speak to your customers and prospects, and help them determine whether there are opportunities to help them (and their customers) meet goals and objectives; you must also speak to your own internal support folks to help them underst
Indeed, it's time to speak to your customers and prospects, and help them determine whether there are opportunities to help them (and their customers) meet goals and objectives; you must also speak to your own internal support folks to help them underst
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
and that while you're bringing in leads, they must establish distribution, r&d, help desk and service initiatives that serve the product creation and support.
If you don't, and continue to use sales and lead generation as a push to promote product data rather than
1. become business partners with your customers,
2. help your customers make complex decisions out of more complex buying environments,
3. create loyal customers,
4. use your sales folks as brand
If you don't, and continue to use sales and lead generation as a push to promote product data rather than
1. become business partners with your customers,
2. help your customers make complex decisions out of more complex buying environments,
3. create loyal customers,
4. use your sales folks as brand
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ambassadors,
5. increase revenue,
6. put your customers into the feedback loop to enhance your support and product creation,
you're going to end up in the same place you started.
Using the Buying Facilitation Method I've introduced in my book Selling with Integrity, you can actually use this opportunity to become true business partners with all of your prospects. Even if it's retail sales - or software or financial services or large ticket solutions - you ca
5. increase revenue,
6. put your customers into the feedback loop to enhance your support and product creation,
you're going to end up in the same place you started.
Using the Buying Facilitation Method I've introduced in my book Selling with Integrity, you can actually use this opportunity to become true business partners with all of your prospects. Even if it's retail sales - or software or financial services or large ticket solutions - you ca
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
n become business partners with your prospects and thus brand yourselves in as opposed to your competition.
I recently went to make a small (very small - $15) purchase at a counter at Nordstrom's. They didn't have the product in. She asked me my criteria: was it the product? The time frame? The store? For me it was the time element. The woman behind the counter actually WALKED me to a competing store to make sure I'd get what I wanted! Now THAT'S branding. She g
I recently went to make a small (very small - $15) purchase at a counter at Nordstrom's. They didn't have the product in. She asked me my criteria: was it the product? The time frame? The store? For me it was the time element. The woman behind the counter actually WALKED me to a competing store to make sure I'd get what I wanted! Now THAT'S branding. She g
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
ot my criteria and made sure I got my needs met. I suspect if the competing store wouldn't have carried the item she would have done SOMETHING to get me what I wanted NOW.
In this time of slow business and a skittish economy, it's your job to create trust and brand loyalty through each and every client interaction. While seeking and contacting leads, use this opportunity to become a business partner with your client. Instead of telling them about your offering -
In this time of slow business and a skittish economy, it's your job to create trust and brand loyalty through each and every client interaction. While seeking and contacting leads, use this opportunity to become a business partner with your client. Instead of telling them about your offering -
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
even if it's clear to both of you that they need it - take the time to go down the Buying Decision Funnel and assist them in discovering all of the issues that need to be lined up in their unique, internal systems, for them to make their best decision.
What has kept them where they are (i.e. without handling the problem or need)? What has been tried in order to fix it - and failed?
What is going on with the people, the politics, the partnerships, within the co
What has kept them where they are (i.e. without handling the problem or need)? What has been tried in order to fix it - and failed?
What is going on with the people, the politics, the partnerships, within the co
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
mpany that makes it difficult for them to change?
Or add something new into the mix?
Or spend money?
Or possibly create chaos?
What has gone on around the problem area in their history that makes them want to hang on and not consider change?
They won't have ready answers, but with the facilitative questions, they will be able to get a much more complete picture, and may be willing to note congruences to make new decisions.
As you know if you've been reading
Or add something new into the mix?
Or spend money?
Or possibly create chaos?
What has gone on around the problem area in their history that makes them want to hang on and not consider change?
They won't have ready answers, but with the facilitative questions, they will be able to get a much more complete picture, and may be willing to note congruences to make new decisions.
As you know if you've been reading
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
these newsletters for a while, it's never about your product: it's always about the buying criteria of your prospect, how they need to address their 'problem space' and stay congruent with their values and history and initiatives. You can help them in discovering that which is difficult for them to see, and in the process become a trusted advisor and support.
As a result of using this process, you could even use a front-line lead generation team to 'warm the cl
As a result of using this process, you could even use a front-line lead generation team to 'warm the cl
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ent up' and hand over to the sales rep the hot lead - knowing that by the time the sales rep gets the lead it's ready to close because the customer has already decided to buy.
Use your lead generation to put your sales initiatives to good use. Use the sales function to be the service providers in your company, regardless of what you are selling. Create the trust that you want to be recognized for and spoken about in your business sector. At this point in history
Use your lead generation to put your sales initiatives to good use. Use the sales function to be the service providers in your company, regardless of what you are selling. Create the trust that you want to be recognized for and spoken about in your business sector. At this point in history
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
, that's as good as it gets.
OUTSOURCING
Many companies are outsourcing their lead generation even while their sales continue to plummet: the current thinking goes, "If WE can't get it right the way we're doing it, let's let someone else do it for us. Not only that, we can get the outsourcers to give us hot leads and save our sales folks the trouble of warming up the cold ones."
Don't get me wrong. I truly believe in outsourcing. You're not capable of being -
OUTSOURCING
Many companies are outsourcing their lead generation even while their sales continue to plummet: the current thinking goes, "If WE can't get it right the way we're doing it, let's let someone else do it for us. Not only that, we can get the outsourcers to give us hot leads and save our sales folks the trouble of warming up the cold ones."
Don't get me wrong. I truly believe in outsourcing. You're not capable of being -
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
nor do you want to be - experts in every field. Let each of us be expert in one or two fields, and hire each other to do what we each do best when expertise is lacking.
But I've seen some problems using outsourced lead generation companies as a vehicle to improve sales. Many companies don't realize the amount of specificity that is necessary to make sure they get it right.
Before engaging an outsourced lead generation company, you need to know exactly what you
But I've seen some problems using outsourced lead generation companies as a vehicle to improve sales. Many companies don't realize the amount of specificity that is necessary to make sure they get it right.
Before engaging an outsourced lead generation company, you need to know exactly what you
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
want going in and teach the lead generation folks how to approach your customers in a way that will support a purchase, not a pitch. As it is now, by just giving them product information to be pushed and shared, you are not setting appropriate parameters for the outsourced providers and thereby losing a wonderful opportunity to turn your businesses around.
Some companies outsource their marketing and sales before fully understanding the potential buyer's profile
Some companies outsource their marketing and sales before fully understanding the potential buyer's profile
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
; the step of market validation is often overlooked, starting with your offerings getting produced and developed using the age-old belief that if you can create it you can create the market for it. Customer demand is often guessed at, at best, and there's no understanding why customers will expend capital on one item vs. another.
One of the problems companies are facing is that they are not visioning the lead generation process as part of a whole: their campaign
One of the problems companies are facing is that they are not visioning the lead generation process as part of a whole: their campaign
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
s are fragmented, with telemarketing, direct mail, on-line ad campaigns, advertising all being done in a fractured fashion. Rarely do companies or the outsourced vendors create the entire process in a coherent, strategic manner. They are thinking tactically rather than strategically when they design a lead generation program.
STRATEGIC RATHER THAN TACTICAL THINKING
Britton Manasco, a market strategist whose company, the Market Intelligence Group, provides marke
STRATEGIC RATHER THAN TACTICAL THINKING
Britton Manasco, a market strategist whose company, the Market Intelligence Group, provides marke
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
t assessment and growth strategy consulting, believes companies aren't clear on their strategies. They say:
1. here are my goals;
2. how do I meet them.
They buy a list, and hand it to telemarketers and in-house sales folks, but there isn't any strategy for ensuring each channel (phone, print, email, mail) gets handled with a similar integrated approach that all happens in parallel.
Again, you go back to the faulty idea of product information: you assume
1. here are my goals;
2. how do I meet them.
They buy a list, and hand it to telemarketers and in-house sales folks, but there isn't any strategy for ensuring each channel (phone, print, email, mail) gets handled with a similar integrated approach that all happens in parallel.
Again, you go back to the faulty idea of product information: you assume
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
that when folks see how wonderful your product offering is they will know just how and when and why to buy it. It's just not true: people buy when their criteria are aligned, when they know HOW to change, when everyone involved gives their ok - or at least has their needs and fears addressed (Intel has this decision-making strategy for folks who don't agree with a decision. It's called Disagree and Commit. They vocalize their disagreement so everyone hears and un
.
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
derstands it, and then they commit to supporting the team. But they've been heard.).
So when you truly believe it's about helping folks decide how to buy, rather than selling a product, you enroll your outsourcing partner with a list of criteria around how they must support your client in relationship with the other initiatives you have put in place, so it's a congruent whole. This not only adds value to your partner or customer, but it gives your company a bran
So when you truly believe it's about helping folks decide how to buy, rather than selling a product, you enroll your outsourcing partner with a list of criteria around how they must support your client in relationship with the other initiatives you have put in place, so it's a congruent whole. This not only adds value to your partner or customer, but it gives your company a bran
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
d. A brand, after all, is a coherent story line and a relationship with your customers and employees. It must be used with telemarketers and with senior vp's, with help desk folks and assistants, and the CEO.
We all need to be serving our clients now. Each company, each customer, each team or family is an aggregate of human beings. Let's use our products as an excuse to go out there and serve as many of them as we can.
In fact, it's really the only game in town
We all need to be serving our clients now. Each company, each customer, each team or family is an aggregate of human beings. Let's use our products as an excuse to go out there and serve as many of them as we can.
In fact, it's really the only game in town
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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