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Digg It - When Is the Best Time to Make a Sale?
Do you know when the best time is to help your prospects make their first purchase? Timing is everything in marketing. Get it wrong and you can't get your prospects' attention. Get it right and you'll see your revenue grow ea 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 ch month of the year. My daughter was twelve when we got a dog. She couldn't get enough of that cute, cuddly puppy and made good on her promises to take care of it – at first, anyway. The first week she fed, walked and brushe ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in d our new dog. The second week, she fed and walked her. After three months, she was keeping up with the feeding and that was it. When a puppy first comes into the house, its owner is enthusiastic and will do anything and ever lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. ything for it. If you've ever owned a dog, you know what I'm talking about. It’s called the "new puppy syndrome". Prospects experience the new puppy syndrome with your small business marketing. The first time they sign up fo here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe r your free offer, stop by for a test drive or visit your store, they're enthusiastic and this is the time they're the most likely to make a purchase. Your prospects' interest wanes with each day that passes. They go from hi d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro ghly interested to mildly interested or not interested at all. You've got two opportunities to help your prospects buy with your small business marketing. The first is during the 7 to 10 days after they became a qualified lea 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 d. This is the time you want to follow up with additional information and make an offer they can’t refuse. One of my clients periodically gives talks to coaches, health professionals and other trainers to promote his speciali 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 zed athletic training business. His unique training system generates a lot of interest, and he collects contact information from many in his audiences. When is the best time for him to make the next contact with these prospect nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically s? Immediately! These people are primed to become clients and customers. Imagine how impressed his new contacts would be find an email or free guide, or offer waiting for them when they return to their offices. To help peopl 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 remember you and act on your offers, give them helpful information along with a "new prospect offer" they can't refuse. Do this once a day or once every other day for the first 7 to 10 days after you've gotten their contact ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi nformation. Your prospects will remember you and you'll convert more leads to clients. I know you're thinking, "Three to seven contacts per week? That's way too many! I'll lose all my prospects with this approach." The oppo ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a site is true. Wait a week or more to follow-up with your prospects, and they'll have forgotten you exist. When they get your note, they'll have lost their initial enthusiasm and curiosity and won’t even read it. There is no e dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod xact right number of times to contact new prospects the first week they become qualified leads. You'll have to test this yourself and gauge the results. Obviously you don't want to be annoying. You do want to start a convers cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin ation with your prospects about their needs and how your products or services meet those needs. You know your business; tie your follow up with prospects to the business or seasonal cycles or the events critical to your indus tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen try or your customers. For example, immediate follow-up is critical when purchasing decisions are event-driven. My client the athletic trainer can't wait to contact a new prospect because the athletes he works with are traini 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 ng for specific competitive events. If he doesn't sell his services soon enough, the event will have passed and he'll have lost the sale. Depending on what you market, the purchase of your products may not be event driven. Fo ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust r example, if you're a financial advisor, no single event will prompt your prospects to pick a new one. Given that time isn't usually a constraint for your prospects what can you do? What do you do about the prospect that con y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products tinues to be interested after 10 days or so but just won’t commit to a purchase? Some prospects won't buy for months or even years. Keep the conversation going; continue to provide them with helpful ideas a couple of times a . 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 month. Continue to educate them about your business and your services. You’ll increase their perception of need and convert them to clients. Want to convert more of your prospects to clients? Follow-up frequently during the elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip first 7-10 days and then regularly each week or every other week until you make the sale. Take advantage of the "new puppy syndrome" and you can double your sales by helping your prospects get what they want when they want it 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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