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Your company’s sales team is arguably the most exposed and hardworking group in your workforce, and that’s just one reason why they need to be given the RIGHT incentives REGULAR

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

LY. And so yes, not just any incentive will do. What works for one company may not work for yours so it’s important that you take the time to know your sales team well and deter

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

Examples of combination products may in

ine as well just what you’re capable of giving them.

Factors to Consider When Determining What Sales Incentives to Give

AGE – People’s likes and dislikes as well as their goal

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

s tend to differ as they age, and thus, it’s important to give sales incentives that will suit your sales team’s age range. If, however, they’re composed of different generation

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

, then you need to choose something that will be ubiquitously desirable.

GENDER – Gender-specific sales incentives are tricky because you could be sued for discrimination, but

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

Combination pro

hey’re arguably more effective as well since you’re giving your sales team – man or woman – what they really desire. One way of solving the discrimination problem is by giving t

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

hem the option to choose.

BUDGET – Naturally, giving away sales incentives shouldn’t bankrupt you. Evaluate your finances then determine just how much you’re able to spend. Hav

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

ng a budget will also challenge your mind and imagination to think out of the box and be resourceful.

Tips on How to Create Effective Programs for Sales Incentives

Sales Incen

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

ives Have Two Faces – And they’re called cash and non-cash incentives. It’s important that you offer both. Like it or not, people are generally easier to motivate if you’re offe

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

ring both money and recognition in exchange of showing better job performance.

Motivation Comes from Within – Before creating any sales incentive program, you must also underst

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

nd that no matter how hard you work on setting goals and determining prizes for employees, there won’t be any changes made if the employees themselves aren’t ready, willing, and

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

Following aspects would a

able to change. Thus, be ready to be confronted once in a while with a few bad apples here and there. And when you do, don’t blame yourself: it’s those people – and not your pro

dd to the challenges in developing combination products:

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

gram – that’s at fault.

Separate Sales Incentives for Short-Term and Long-Term Goals – You must prepare separate and appropriate sales incentives for your short-term and long-t

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

rm goals. Cash and similar monetary incentives work better for short-term goals because they work like confectioneries by providing employees with a temporary boost of physical

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

nd mental energy. Stimulants for intrinsic motivation, on the other hand, will definitely work better for long-term goals because it gives your employees a reason to continue wo

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

rking the way you want them to.

3 S’s for Sales Incentives – When creating a sales incentive program, always make sure that it adheres to the 3 S’s rule: short, sweet, and simp

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

Professional from academic institutions, pharmaceutical industries, health care indust

e. Anything complicated can discourage your sales workforce from bothering to change. And if you offer something sour instead of sweet, who’d want to work for it?

Take Advantag

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

of Your Affiliations – If you only rely on your own resources to provide for sales incentives for your workforce, your options may be greatly limited. Thus, consider taking adv

.

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

antage of your affiliations. Negotiate with them for mutually beneficial contracts. Exchange favors.

Evaluate, Evaluate, Evaluate – And lastly, don’t stop monitoring the result

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

Companies that provide selfless information through particip

of your sales incentive program. If you notice something that seems to have lost effectiveness, determine its causes then modify, eliminate, or replace it with something better

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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