Digg It - Business

I know a company that helps financial services professionals generate sales leads by hosting free financial planning seminars, usually with lunch o

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

r dinner included.

The company mails full-color postcards to consumers, promoting the seminar at a nearby hotel. “There is no cost or obligation

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

Examples of combination products may in

for this informative workshop, and the delicious meal is free to all who attend,” promises the postcard copy.

Naturally, those who attend hear a s

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

les pitch of one kind or another, and have a chance to meet some local financial planners face to face. The financial planners offer these free s

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

minars as a way to get in front of a room full of potential clients at a reasonable cost.

The mistake this company is about to make is thinking

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

Combination pro

t can set up face-to-face, private appointments with prospective clients using postcards as well. The postcards work well at filling seminars, so

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

the company thinks postcards will work equally well at generating appointments.

This company is mistaken. For a number of reasons.

1. The number-

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

ne deal breaker for a consumer when looking for a financial planner is trust. Consumers want their financial planner to be educated, and have the

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

necessary credentials and experience, but if they can’t trust the financial planner they won’t hire him. And they won’t meet with him for a sales

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

appointment if they don’t know if they can trust him. The problem with postcards is you can’t use them to build trust. They look like they are mail

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

d to everyone in the neighbourhood. You can’t build trust with “Dear Homeowner.”

2. Postcards by their very nature look like they are selling a

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

Following aspects would a

roduct rather than a long-term relationship with a financial planner.

3. Postcards lack the intimacy and implied exclusivity that comes with a per

dd to the challenges in developing combination products:

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

onal letter in a closed-face envelope with a real stamp.

4. Postcards are not confidential. Even the letter carrier knows what they are promoting.

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

Financial planners shouldn’t use a postcard to generate a private sales appointment any more than they should mail a postcard to invite family me

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

bers to a wedding. Wedding invitations are private and personalized. Postcards are public and generic.

Postcards work at filling seminar rooms b

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

cause a potential customer who receives the invitation knows the event is public and that the prospect doesn’t have to disclose any confidential

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

Professional from academic institutions, pharmaceutical industries, health care indust

nformation. So attending sounds painless. The prospect will learn something, and get a free meal.

But a prospect who receives a postcard inviting

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

er to a face-to-face meeting between her and an unknown financial planner is less likely to respond. She cannot sit at the back of the room. Or

.

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

remain silent. She knows she will be required to disclose some confidential information about her financial matters. She might attend if the invi

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

Companies that provide selfless information through particip

ation she receives is personal and private. But she’s likely to toss it and stay home if it arrives looking mass produced, generic and impersonal

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/30480/diggit-Dont-Mail-Postcards-to-Generate-Appointments-in-Financial-Services-Direct-Mail-Lead-Generation.html">Don't Mail Postcards to Generate Appointments in Financial Services Direct Mail Lead Generation</a>

BB link (for phorums):
[url=http://www.diggit.org.ua/article/30480/diggit-Dont-Mail-Postcards-to-Generate-Appointments-in-Financial-Services-Direct-Mail-Lead-Generation.html]Don't Mail Postcards to Generate Appointments in Financial Services Direct Mail Lead Generation[/url]

1. Decide to investigate. You make the decision to look for a business to buy. You then check out businesses in the newspaper or by working through a business broker...

As a career builder newbie, you need to start developing some of these stress management techniques in order to manage the stress you will experience as you climb the corporate ladder.

There are two types of Interior Design firms: Those that truly specialize in a particular area (i.e. Kitchen and Bath designers) and firms that use a niche as a market strategy. Let’s focus on the latter, because if you are trying to create a message that appeals to anyone that may be interested in any form of Interior Design, you are spinning your wheels and wasting your resources.

Tags

Links

Digg It - Don't Mail Postcards to Generate Appointments in Financial Services Direct Mail Lead Generation

Related Articles: