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How many of your customers are loyal customers? More importantly do you know why they are loyal customers?

Customer loy

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

alty has been a buzz term in marketing for some time and with good reason. Estimates suggest it can cost 5 times as much

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

Examples of combination products may in

to get a new customer as it does to keep an existing one.

Think about your business as having a bucket of customers. T

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

he customers you lose leak out a hole in the bottom of the bucket. Understanding how big the hole is for your business i

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

the crucial first step to improving your customer loyalty. The second step is understanding why some customers stay and

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

Combination pro

why others leave. Here's a simple way to measure the size of the hole in your bucket.

Take the number of customers who

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

bought from you last year. Then take the number that bought from you this year. The difference between the two figures

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

s your net gain/loss of customers. So if last year the number was 5,000 and this year it's 4,600 your net loss is 400 cu

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

stomers. If you know the value of a customer each year then you can work out what the lost revenue is. Coming back to th

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

e customer bucket the hole is big enough to leak 400 customers a year. So why are they leaving?

Common reasons customer

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

leave include:

- bad service
- perceived indifference
- better offer elsewhere
- no longer need your

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

Following aspects would a

product or service

Some reasons you can do something about, some you can't. When you know a customer is leaving or the

dd to the challenges in developing combination products:

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

y haven't bought from you for a while see if you can find out why by asking them. Try an open ended question like 'thank

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

s for being our customer, so we can continue to improve our service can I ask why you are leaving'. Not everyone will re

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

pond and that's OK. But those that do may give you valuable insights into things you can improve about your business. Ta

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

ke action on what you find.

You should also be asking your loyal customers why they stay with you. You might be surpris

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

Professional from academic institutions, pharmaceutical industries, health care indust

ed by the answers you get. Often people stay for simple reasons. I get coffee from some places because the staff are fri

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

ndly even though there is better coffee elsewhere. The friendly service makes the coffee taste better than it actually i

.

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

s. Have you had an experience like this?

So make it your mission to find out why customers stay with you or leave you.

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

Companies that provide selfless information through particip

When you see patterns that make people stay keep doing it. when you see common reasons people leave fix them. Good luck

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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With the tremendous advertising schemes used at present, print materials are still among the effective ways of making business recognized.

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