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Digg It - Sum of Its Parts
I just spent a week at the beach with my
family and, as much as I vowed not to think
about work, stumbled onto a highly relevant
lesson for marketing professional services.
It was actually my mother who inspired this lesson, thanks to th
It was actually my mother who inspired this lesson, thanks to th
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
e following beachy quote
she had on the refrigerator:
"Saltwater taffy, for example, does not taste good. Seagulls are not pleasant birds. Most people look better in clothes – a lot of clothes. But it works. The beach is the ultimate t
"Saltwater taffy, for example, does not taste good. Seagulls are not pleasant birds. Most people look better in clothes – a lot of clothes. But it works. The beach is the ultimate t
; 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
riumph in setting." –from the article, Sea and Be
Seen
What does this have to do with marketing professional services? A lot. Just like saltwater taffy, seagulls, and under clothed people, any one thing done in isolation to market your
What does this have to do with marketing professional services? A lot. Just like saltwater taffy, seagulls, and under clothed people, any one thing done in isolation to market your
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
professional services won’t work.
When you take the sum of its parts, marketing works.
Let’s take an easy example: networking. Done in a vacuum, networking is just a "part." Without ways to sustain a new contact’s attention, build the
When you take the sum of its parts, marketing works.
Let’s take an easy example: networking. Done in a vacuum, networking is just a "part." Without ways to sustain a new contact’s attention, build the
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ir trust, or keep in touch –
the other "parts" of your whole – you spend
far more time and energy drumming up
business than if you had other aspects of your
marketing "machine" doing a lot of the work
for you.
Let’s get specific. The b
Let’s get specific. The b
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
iggest mistake I see is
when people go out, network (or make cold
calls, or send direct mail pieces), is that they
simultaneously scare prospects off with an
anemic poorly-messaged website, no value-
adding resources to build your prospe
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
ct’s
confidence, and new contacts that vanish
into thin air because there’s no systematic
way to stay in front of them that’s affordable
and effective.
The same "in isolation" principle applies to other marketing "parts."
* If you inv
The same "in isolation" principle applies to other marketing "parts."
* If you inv
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
st in telemarketing, but send
new leads to a lousy website (even if you
don’t send them there, they’ll look you
up), you’re shooting yourself in the foot.
* If you’re a master at churning out brilliant weekly e-newsletters, but haven’t
* If you’re a master at churning out brilliant weekly e-newsletters, but haven’t
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
"packaged" your services into a range of
ways potential clients can buy from you,
you’re missing the point of using an e-zine
as a smart promotional tool.
* If you go to all of the time and effort to get booked as a speaker, then run
* If you go to all of the time and effort to get booked as a speaker, then run
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
around preparing for and delivering your
talks, you’ll get nothing but a nice ego
boost and applause unless you target the
right audiences and hit them with "What
in it for Me?" messages.
All of that time, money and energy wasted…but n
All of that time, money and energy wasted…but n
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ot if you pay attention to the
sum of your parts!
To avoid wasting your resources and to make the most of your individual marketing efforts, make sure you have all of these parts working together:
* Positioning that sets you apart from
To avoid wasting your resources and to make the most of your individual marketing efforts, make sure you have all of these parts working together:
* Positioning that sets you apart from
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
others
offering a similar service. From your target
audiences’ perspective, what makes you
different? Why should they choose you?
* Packaging in the form of a value-packed website that you can send new contacts to, demonstrating your v
* Packaging in the form of a value-packed website that you can send new contacts to, demonstrating your v
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
alue (again, through their
eyes) and building their confidence in you as a
good solution to their problem.
* Promotion: An easy way to keep-in-touch with contacts and prospects, even if you’re using other high-touch tactics, such as foll
* Promotion: An easy way to keep-in-touch with contacts and prospects, even if you’re using other high-touch tactics, such as foll
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
ow-
up calls and meetings. The point is that not
every new contact is a ready-buyer when you
first meet. You need to stay on their radar, at
least monthly, so that when they’re ready to
buy, you’re there. A monthly e-newsletter or e-
zi
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
e is the perfect vehicle.
* Persuasion: You’ve got to turn contacts into prospects, prospects into clients, clients into referrers, and so on. Simply setting up sales calls and writing proposals won’t do it, though. As any successful sal
* Persuasion: You’ve got to turn contacts into prospects, prospects into clients, clients into referrers, and so on. Simply setting up sales calls and writing proposals won’t do it, though. As any successful sal
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
es person knows, there are
many moving "parts" to master. You’ve got to
know who the decision makers are, what
they’re willing to spend, how buying decisions
get made, how to stay in control of the selling
conversation, and how to ask f
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
or referrals, to
name a few.
* Performance is the one "part" most of us in professional services rely on most – it’s how we get referrals and maintain (or tarnish) our reputation in the marketplace. It’s the marketing part that keeps m
* Performance is the one "part" most of us in professional services rely on most – it’s how we get referrals and maintain (or tarnish) our reputation in the marketplace. It’s the marketing part that keeps m
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
e on my toes the
most, above any other marketing challenge I
take on, including writing this e-newsletter,
upgrading my website, closing a sale, or giving
a public talk. Why? Because it’s all about
managing and exceeding client expectat
.
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
ions,
two very tricky "parts" to master. If this doesn’t
ring a bell with you, then take this quick quiz to
find out what it really takes to master
Performance:
http://www.turningpointemarketing.com/Is_This_For_You.html
In isolation, I
In isolation, I
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
’m definitely not a fan of
saltwater taffy, seagulls or bathing suits. But in
the right setting and working all together,
they’re part of the most effective vacation I
can think of. The sum of its parts works. So too
can your marketing
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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