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Every business owner is looking for that golden marketing strategy that works like magic to grow their business. Well, I hope you’re sitting down because I am going to tell you the most powerful marketing strategy you will e

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

ver learn. The strategy is called split testing.

“What the heck is split testing”, you ask? Split testing is the process of comparing the results (sales, leads, etc.) of one marketing piece against another marketing piece 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

see which generates the most sales. Clear as mud, right? To make split testing easier to understand, I will show you an example of split testing using direct mail sales letters.

You write 2 sales letters to sell the sales

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

training course you are offering. Both sales letters are identical except for one thing – they each have a different headline. Sales letter “A” has the headline, “How to easily double your sales in 180 days with this little

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

nown marketing strategy” and sales letter “B” has the headline, “Learn the marketing secret twelve small businesses recently used to increase sales by over 173% in less than 180 days.” Then, you send letter “A” to 2,000 pros

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

Combination pro

ects and letter B to 2,000 prospects. You then track which sales letter produces the most leads and sales. The results tell you which sales letter is the stronger sales tool – letter “A” or letter “B”.

“But how do you track

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

which sales letter is producing the most leads/sales” you ask? Easy. You add a unique key code to each letter campaign so you can track it. So, for letter campaign “A” you use the key code 111 at the bottom of each letter

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

nd for letter campaign “B” you use the key code of 222 at the bottom of each letter. When a customer calls (or places an order), you simply ask them for the key code in their sales letter. Then you track these codes in a spr

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

ad sheet so you know which letter produced the lead and the sale. After a few weeks to a month, you will know which sales letter is producing the most sales and you can feel confident sending the stronger sales letter to the

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

rest of your prospects.

“What happens if both sales letters bomb and produce poor results?” Then you write two more sales letters and test them against each other on a small scale (sales letter “C” versus “D”). Testing lik

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

this is far less expensive than sending a single, untested sales letter to tens of thousands or even hundreds of thousands of prospects. By split testing different messages on a small scale, you can test the pulling power o

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

Following aspects would a

f a sales message without breaking your bank. And, you learn which sales message is the one that generates sales like crazy and will grow your business. If you want to be successful in marketing, always test on a small scale

dd to the challenges in developing combination products:

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

and once you find a winning message, then market on a large scale. NEVER market on a large scale with an untested sales message or you will almost certainly lose a ton of money.

While testing the headline is one of the most

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

important things you can test when testing marketing pieces against one another, you can also test things like price, ($99 per widget in letter “A” and $79 per widget in letter “B”), coupon versus no coupon, promotional spec

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

als (get 3 widgets for $197 versus get 4 widgets for $249). But the key is to only test one thing at a time. Do not test a headline in one letter against a price in another letter because you cannot compare the two. Only tes

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

a headline against a headline and a price against a price.

“This sounds like a lot of work” you say. “Explain to me again why is split testing so important because I still don’t get it?” First of all, you are right. Split

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

Professional from academic institutions, pharmaceutical industries, health care indust

testing is a lot of work. However, the reason it is so important and worth all the work is that it is the one market tool that allows you to significantly increase your marketing return on investment while greatly reducing y

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

ur financial risk. Split testing allows you to determine which sales message (campaign) is producing a profitable result while eliminating marketing campaigns that are not producing profitable results. Using the sales letter

.

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

example above, let’s say that the results of your split test of letter “A” versus letter “B” showed that letter “B” produced 34% more leads than sales letter “A”? Wouldn’t you rather use letter “B” for marketing to the rest

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

Companies that provide selfless information through particip

of your clients instead of letter “A”? Of course! That is why you do split testing. You do it to find out what sales message is going to generate the most sales and make you the most money! So, split test your way to success

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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Many small businesses are run from people’s home computers and fall under the radar of business statistics. Whether you are working for a multi-level marketing company or selling painted bird houses the difficulty of advertising your products without a budget is overwhelming. Let us face the fact that $20 a month spent on classified advertisement isn’t going to bring in a flood of visitors. A home-based business cannot compete with their larger counterparts. That is why in many cases owners are expected to tap into their personal relationships to make sales.

Now you never need to leave the comfort of your own home to apply for jobs. With an online job application you simply plug in your information and hit submit. The number of companies asking you to fill out an application online is increasing, and you need to be prepared for what you are going to find.

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