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Digg It - For Direct Mail Lead Generation Success, Clone Your Best Customers
I don't relish being proven wrong. But a while back I sat down to discover who my best clients were. I wanted to increase my revenues. I figured that the best way to do that was to discover who my best clients were and to then go afte
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 more firms that were like them.
I had hunches about who my best clients were, but my hunches were proven wrong. So I adjusted my marketing plan accordingly. And doubled my income that year over the previous year.
4. I narrowed my focus to business-to-business clients only because that's who my best clients were, and that's who I liked working with.
5. I prepared a year-long marketing plan for reaching direct marketing firm
I had hunches about who my best clients were, but my hunches were proven wrong. So I adjusted my marketing plan accordingly. And doubled my income that year over the previous year.
; 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
If you want to increase your revenues and lower your cost of acquiring new customers using direct mail, then I invite you to learn from my mistakes.
Measure your gross sales by client
The first thing I did was
Measure your gross sales by client
The first thing I did was
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
look at my books for the previous three years, and break out my income by client. I wanted to know which clients had given me the most business in dollar volume. I had a hunch that my most lucrative clients were businesses that sold t
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
eir products and services using direct mail, or used direct mail to generate sales leads. I was wrong. The clients who added the most to my bottom line were marketing communications companies who did not have an in-house direct mail c
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
pywriter.
Measure your gross sales by region
Another hunch that I had was that my best-paying customers were from outside my city. The majority of my clients are. Yet when I added up the column for revenue by cl
Measure your gross sales by region
Another hunch that I had was that my best-paying customers were from outside my city. The majority of my clients are. Yet when I added up the column for revenue by cl
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
ent, I discovered that the two clients who gave me the most money last year were located within a half-hour walk of my office! I was startled.
I had assumed that, because most of my clients were located outside my city and
I had assumed that, because most of my clients were located outside my city and
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
province, then most of my revenue came from those sources. What I did not take into account was the volume of well-paying business that I received from two local clients.
Measure your gross sales by country
Anot
Measure your gross sales by country
Anot
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
er assumption I had was that at least 75% of my clients were located outside Canada (I am located in Canada). Wrong again! The figure was more like 30%.
Measure gross sales by deliverable
One hunch of mine that
Measure gross sales by deliverable
One hunch of mine that
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
as on target was how I earned most of my income. I suspected that the majority of my revenue came from writing direct mail packages for my clients. I was correct. The numbers proved it. In previous years I had written ads, websites, b
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ochures, radio and television commercials, scripts for corporate capabilities presentations, packaging, factsheets, white papers, case studies and slogans. But they did not compare with the volume of business I earned writing direct m
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
il copy.
What I learned
1. Your numbers never lie. The safest way to invest in direct mail lead generation is to study your books to discover where your revenue comes from.
2. Your most frequent buyer
What I learned
1. Your numbers never lie. The safest way to invest in direct mail lead generation is to study your books to discover where your revenue comes from.
2. Your most frequent buyer
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
are not necessarily your most lucrative. Studying your books, as I did, shows you who buys from you most often and who gives you the most money. If you have products and services that differ widely in price, then your most lucrative
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
lients may actually be the ones who buy least often, but who buy your higher-priced offerings.
3. Sometimes your best customers are closer than you think. Sort your most lucrative customers by zip code or postal code, as I
3. Sometimes your best customers are closer than you think. Sort your most lucrative customers by zip code or postal code, as I
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
did, and you may be surprised by what you find.
4. You can't know for sure unless you measure your results. Enough said.
How I profited from what I learned
1. I narrowed my focus to writing direct mai
4. You can't know for sure unless you measure your results. Enough said.
How I profited from what I learned
1. I narrowed my focus to writing direct mai
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
letters only. That's what my best clients were hiring me to write.
2. I increased my marketing efforts in the United States to increase the portion of my revenue that comes from that huge market.
3. I started gi
2. I increased my marketing efforts in the United States to increase the portion of my revenue that comes from that huge market.
3. I started gi
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
ing better customer service to my local clients, stopped taking them for granted, and stopped acting like a hotshot who could afford to lose their business (since I couldn't, and since no one likes dealing with an arrogant supplier).
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
4. I narrowed my focus to business-to-business clients only because that's who my best clients were, and that's who I liked working with.
5. I prepared a year-long marketing plan for reaching direct marketing firm
.
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
and marketing communications firms who met the profile of my ideal client (based in Ontario, no in-house copywriter, 15 employees or fewer, business-to-business clients).
Conclusion
The greatest benefit that I
Conclusion
The greatest benefit that 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
ained from analyzing my client base was that I narrowed my focus to a niche market. The result? I doubled my income within 12 months. And started saving money by only promoting my services to a narrow slice of the market. You can, too
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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