Digg It - Business

If you knocked on all the doors in your neighborhood, you’d learn a lot about the people who live around you.

Did you know that the same thing is true when you make cold c

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

alls to sales prospects?

Certainly, cold calling is primarily a prospecting tool. VSA makes telephone calls every day for our clients and we open doors to sales opportunit

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

Examples of combination products may in

ies. Sometimes our clients ask us to gather specific information to qualify leads. But, even when we implement pure appointment generation campaigns, we gain valuable marke

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

intelligence for our clients.

Here are some examples of what we have learned:

Competitive information

Earlier this fall, an innovative VSA client decided to enter a new

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

market. This client believed there would be little to no competition for their services.

But soon after VSA began making cold calls, we learned the truth. Companies were

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

Combination pro

already using services similar to our client’s offering. In fact, the market was virtually 100% penetrated.

Importantly, though, there was no single dominant competitor in

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

the market.

With this information, our client decided the challenge was to convince prospects that they are the best in the industry, and the dominant provider for the ser

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

vices they offer.

Target industries

Another area where clients can gain great knowledge through cold calling is identifying the ideal target industries.

Cold callers are

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

in a unique position to learn which industries:

have "easy-to-reach" decision makers have greatest interest in talking about our clients' services are willing to meet

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

with new vendors are willing to try out new or multiple providers seek back-up providers on a regular basis By calling hundreds of companies, cold callers can see ind

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

ustry behaviors that would not be visible by just talking to a few firms. We observe these trends to help clients focus on the best possible prospects.

Mailing lists

The

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

Following aspects would a

most valuable information gained through cold calling is an excellent prospect list! A targeted prospecting list created through cold calling contains specific informatio

dd to the challenges in developing combination products:

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

that is not generally available elsewhere.

Information can range from the decision maker’s name, to what product they are currently using. Here’s a list of frequently ask

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

ed questions for mailing list development: Decision maker name and title Confirmation of the company name, address and telephone number Whether the prospect is willin

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

g to meet What competitive products/services they currently use What kinds of needs they might have for a specific product/service When they might consider making a s

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

ecific purchase Obtaining this kind of information is certainly challenging. But, a prospect list developed through cold calling is very targeted and can be used with gre

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

Professional from academic institutions, pharmaceutical industries, health care indust

at results in drip mailings and targeted prospecting campaigns over a long period.

Cold calling puts prospecting in high gear.

Most VSA clients hire us to create sales op

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

portunities through cold calling. The value- added information we provide is often a surprise. By really listening to the market, cold callers can turn an ordinary calling

.

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

ampaign into a campaign that not only generates short term sales, but also produces long-term marketing and sales strategies.

VSA. Inc. 414 Station Avenue Haddonfield, N

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

Companies that provide selfless information through particip

J 08033 856-429-5078 info@vsaprospecting.com www.vsaprospecting.com

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

Have you ever thought about what trade shows, conventions, meetings and the holidays all have in common?

When it comes time to print your brand identity materials, there's one overarching question for you to consider — whether to print the resulting materials on a digital printer or traditional press. There are many differences between the two processes, some of which are outlined below.

Are you struggling to meet your revenue targets for high-value sales? Your high performing stars are performing well, but you want to lift the performance of the bulk of your sales force. This article covers the biggest mistakes in key account management and how to avoid them. In addition, the article gives you best practice tools and techniques you can apply to your business today to win more high-value deals more consistently.

Tags

Links

Digg It - Cold Calling - A Surprising Way To Gain Insider Information

Related Articles: