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Digg It - How to Do PR Right!
Among the potential ingredients for the marketing mix of a high tech company, Press Relations is high on my list.
There’s a good reason for it. It is often the most cost effective tactic you can use to generate leads, build the image of the company, and create credibility that helps you close more sales. Best of all, it’s possible to do it on a shoestring b
There’s a good reason for it. It is often the most cost effective tactic you can use to generate leads, build the image of the company, and create credibility that helps you close more sales. Best of all, it’s possible to do it on a shoestring b
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
udget, if you’re a capital-challenged startup company.
Not For Every Situation
But of course, an active PR campaign isn’t appropriate for every company, at every point in time. It’s very important to make sure that the company has its “house in order” prior to starting a PR campaign. This cautionary note fits into the category of you “on
Not For Every Situation
But of course, an active PR campaign isn’t appropriate for every company, at every point in time. It’s very important to make sure that the company has its “house in order” prior to starting a PR campaign. This cautionary note fits into the category of you “on
; 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
y get one chance to make a first impression.” So let’s start by outlining when it’s NOT a good time to start a PR campaign:
1) The Product isn’t finished
2) The Product is buggy
3) No good public spokesman in the company, or one hasn’t been decided on yet
4) No website
5) No marketing literature
6) No users yet (not even beta users)
1) The Product isn’t finished
2) The Product is buggy
3) No good public spokesman in the company, or one hasn’t been decided on yet
4) No website
5) No marketing literature
6) No users yet (not even beta users)
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
The basic message here is that PR shouldn’t be started until the company and product are ready. Once you go out for PR, there’s no looking back. You can’t undo it. Maybe you’ve heard the old saying “There’s no such thing as bad PR”. Don’t believe it—it’s a lie! The only kind of PR that will help boost your business is good PR. Bad PR, and even so-so coverag
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
e, is to be avoided.
It's the News--Not the Product
In addition, it’s not really possible to do a “small PR campaign”. You can’t test PR like many other marketing programs. It isn’t advisable to go out to a couple of publications with a press release to “test the water”, and see if you get some positive coverage. The problem is that once y
It's the News--Not the Product
In addition, it’s not really possible to do a “small PR campaign”. You can’t test PR like many other marketing programs. It isn’t advisable to go out to a couple of publications with a press release to “test the water”, and see if you get some positive coverage. The problem is that once y
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
u do that, your important announcement is no longer “news” to other publications that may have provided coverage. You see, the “product” that publications are interesting in getting from you is THE NEWS ITSELF. Once it’s published in another publication, it’s no longer newsworthy to others. Press Releases are as fragile an asset to your company, as a seat on
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
a particular flight is to an airline. They aren’t static assets, but time-sensitive opportunities to promote your company.
So when you decide to go out with news, you need to go out big. Go out as big as you can afford to, anyway. News needs to be timed to hit all relevant publications at the same time. This is a bit challenging, since you may have relevant
So when you decide to go out with news, you need to go out big. Go out as big as you can afford to, anyway. News needs to be timed to hit all relevant publications at the same time. This is a bit challenging, since you may have relevant
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
publications that are weeklies, monthlies and even websites where the news might posted near real-time. The technique you use to ensure it hits all at the same time is to send your release to the long lead-time pubs first, but “embargo” the release until the general release date. If you are dealing with legitimate journals, they will respect the embargo and
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
won’t publish the news until your official release date.
When PR Makes Sense
So when should you use PR as part of your marketing mix?
1) When announcing the formation of a new company
2) New Product Announcement, assuming the product is “fully cooked”
3) Major new customer acquisitions (assuming it doesn’t need to be secret for
When PR Makes Sense
So when should you use PR as part of your marketing mix?
1) When announcing the formation of a new company
2) New Product Announcement, assuming the product is “fully cooked”
3) Major new customer acquisitions (assuming it doesn’t need to be secret for
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
ome reason)
4) Senior Employees joining the company (new CEO, VP Marketing, etc)
5) New Partnership or Alliance
These are the major reasons that you would put out a press release for marketing reasons, although I’m sure you can think of more. Public companies will often have a greater flow of releases, because they are dealing with a dual purpose
4) Senior Employees joining the company (new CEO, VP Marketing, etc)
5) New Partnership or Alliance
These are the major reasons that you would put out a press release for marketing reasons, although I’m sure you can think of more. Public companies will often have a greater flow of releases, because they are dealing with a dual purpose
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
f marketing and investor relations. This can often be problematic, but that’s a subject for another day.
One Size Doesn't Fit All
Other questions relate to the mechanics of producing and placing news with the media. Should you hire a PR firm? Should your marketing department handle it internally? Should you hire a dedicate resource to hand
One Size Doesn't Fit All
Other questions relate to the mechanics of producing and placing news with the media. Should you hire a PR firm? Should your marketing department handle it internally? Should you hire a dedicate resource to hand
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
le the PR function?
There are lots of ways to handle PR and still do it successfully. One size doesn’t fit all—it really depends upon the situation.
The first aspect to look at is your level of resources. PR is one of my preferred marketing activities, so I recommend that you don’t skimp in this area. But there are still situations where the money just isn
There are lots of ways to handle PR and still do it successfully. One size doesn’t fit all—it really depends upon the situation.
The first aspect to look at is your level of resources. PR is one of my preferred marketing activities, so I recommend that you don’t skimp in this area. But there are still situations where the money just isn
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
t available, for whatever reason. An outside PR firm can always be helpful, particularly if you’ve never been involved in a PR campaign before. But if you’re in a thinly funded startup company, don’t be deterred. To be successful in PR, it’s far more important to have REAL NEWS than it is to have a lot of money. (Of course, money doesn’t hurt!) So if you jus
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
can’t afford an outside or experienced PR assistance—do it yourself.
The second thing to consider, from a campaign implementation perspective, is “how big is your news”. If it’s solid, worthy of publication, but not earth shattering—maybe you can handle it internally. At most, maybe you need someone to help with the writing of the release itself, but the p
The second thing to consider, from a campaign implementation perspective, is “how big is your news”. If it’s solid, worthy of publication, but not earth shattering—maybe you can handle it internally. At most, maybe you need someone to help with the writing of the release itself, but the p
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
otential ink isn’t big enough to spend a lot of dollars attempting to place it. If on the other hand the news is big stuff (with a corresponding large potential payoff), it’s really a good idea to hire an outside firm or an experienced inside resource, to maximize the potential.
Next, how big is your market? If you are in a large, horizontal market, with a
Next, how big is your market? If you are in a large, horizontal market, with a
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
arge number of bigger publications—that points to the need for a more professional effort. Contacts with the editors are critical in this instance, and an experienced PR professional can be worth their cost many times over. If on the other hand your market is a small vertical niche, a PR professional may not be money well spent, particularly if you have a li
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
ited marketing budget. In this case you should be able to build and maintain good relationships with the limited number of editors and writers, who are working for the fewer trade journals covering your industry.
Another question, will the PR opportunity be ongoing? If you’re going to put out 2 press releases a year, how you go about staffing the function i
Another question, will the PR opportunity be ongoing? If you’re going to put out 2 press releases a year, how you go about staffing the function i
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
s very different, than if there are going to be 2 blockbuster releases each month. So the stage of growth of your company should also help guide your tactical PR implementation.
Lastly, what’s your business culture and style? Do you like to get the best outside experts and use them when you need them, or do you prefer to hire people with expertise as perman
Lastly, what’s your business culture and style? Do you like to get the best outside experts and use them when you need them, or do you prefer to hire people with expertise as perman
.
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
nt members of your staff? Conversely, do you enjoy learning the specifics of the task personally so you can apply the knowledge yourself? If you choose to learn yourself, make sure you get someone with PR experience to guide you, and serve as a sounding board.
PR is for Almost Everyone
Conducting extremely successful PR campaigns involves
PR is for Almost Everyone
Conducting extremely successful PR campaigns involves
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
any fine points and vagaries, which can’t be addressed in a short article such as this. But I believe anyone should be able a good solid job, if they take the time, and put forth the effort. It’s not a mystery, and for most technology companies PR should play a very prominent role in there promotional strategy.
I’d love to hear about your own PR experiences
I’d love to hear about your own PR experiences
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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