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Digg It - Your Sales Process - Tweak It and Watch Your Sales Explode
I was building a new computer the other day and everything was going well. That is, until I went to install the operating system. For some reason, it would not install.
At first, I thought it was the operating system’s CD, but I quickly discounted that
At first, I thought it was the operating system’s CD, but I quickly discounted that
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
as it was fairly new and it was not scratched or anything. I then checked all my connections to see if something was unplugged. The problem was not there either.
Finally, I decided to remove the cd-rom and install another one I had on another computer
Finally, I decided to remove the cd-rom and install another one I had on another computer
; 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
Ah, that was the problem!
It turned that the cd-rom was not able to read the operating system’s cd as it was burnt out. After installing a working cd-rom, I was able to install the operating system and my new computer was up and running perfectly.
It
It turned that the cd-rom was not able to read the operating system’s cd as it was burnt out. After installing a working cd-rom, I was able to install the operating system and my new computer was up and running perfectly.
It
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
is amazing how just one bad device on a computer can literally disable the entire thing.
Ok, so what does this have to do with increasing your sales?
You see, it turns out that much like computers; we sales professionals must have all our ‘devices’ wo
Ok, so what does this have to do with increasing your sales?
You see, it turns out that much like computers; we sales professionals must have all our ‘devices’ wo
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
king properly in order for us to do an efficient job in selling. In our case, the ‘devices’ can be broken down into the parts of the Sales Process. Nonetheless, if just one part of our sales process is not functioning properly, it can literally disable
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
he entire thing – much like in the case with my computer.
So, how can you ensure that the parts of your sales process are working properly? Well, let’s take a look.
The Sales Process can be everything from the planned acquisition of a customer to the
So, how can you ensure that the parts of your sales process are working properly? Well, let’s take a look.
The Sales Process can be everything from the planned acquisition of a customer to the
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
lose of the sale.
The way I learned it is basically in this order:
1) Prospecting – getting the right customers
2) Building Rapport – communicating properly with them
3) Qualifying – correctly determining their needs
4) Pres
The way I learned it is basically in this order:
1) Prospecting – getting the right customers
2) Building Rapport – communicating properly with them
3) Qualifying – correctly determining their needs
4) Pres
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
nting – informing them about your products & services
5) The Closing – Asking for the sale
How are your ‘devices’ holding up?
Let’s start with Prospecting. Are you targeting the right customers? It doesn’t matter how great the other
5) The Closing – Asking for the sale
How are your ‘devices’ holding up?
Let’s start with Prospecting. Are you targeting the right customers? It doesn’t matter how great the other
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
elements in your sales process are. If you’re targeting the wrong customers, you’ll never get the sale.
To target your customers correctly, ask yourself some questions about them. What are their demographics? What do they like? Where do they hang out?
To target your customers correctly, ask yourself some questions about them. What are their demographics? What do they like? Where do they hang out?
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
hat do they want?
Take out a pen and paper and make a worksheet to right down the answers to these questions. Armed with the above knowledge, you’ll be well on your way to easily targeting your customers.
Next, let’s look at Rapport. Are you b
Next, let’s look at Rapport. Are you b
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ilding a good line of communication between you and your prospects? Notice I said communication as in COoperation and COmmunion. Yes, communication is a two-way street. That said, who’s doing most of the talking? Are you? Maybe you should be listening 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
ore.
Great salesmen are also great listeners. They listen to their prospect’s needs and problems and are able to provide viable solutions. Remember that next time you’re speaking with a prospect. You might even be surprised how many prospects help clos
Great salesmen are also great listeners. They listen to their prospect’s needs and problems and are able to provide viable solutions. Remember that next time you’re speaking with a prospect. You might even be surprised how many prospects help clos
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
the sale themselves – just by your letting them do all the talking!
In Qualifying your prospects, all is lost if you weren’t listening to them. Hence, to properly qualify your prospect, you must know what they need or want – and this knowledge
In Qualifying your prospects, all is lost if you weren’t listening to them. Hence, to properly qualify your prospect, you must know what they need or want – and this knowledge
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
omes from you asking qualifying questions and listening to their answers.
What kind of questions? Questions like: what’s your budget; what’s most important to you; and how soon do you need a solution are good for starters.
Armed with the answers you r
What kind of questions? Questions like: what’s your budget; what’s most important to you; and how soon do you need a solution are good for starters.
Armed with the answers you r
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
ceive, you can now Present solutions (your products and services) to their problems. Now, when you do, are you trying to over-present your prospects by showing them or informing them about products or services they don’t really need? Are you focu
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
ing more on the features of you offer? Do you try to up-sell them too early?
If you’re doing any of the aforementioned things and they’re killing your sales, then consider the following: Instead of trying to oversell your prospects with stuff they don’
If you’re doing any of the aforementioned things and they’re killing your sales, then consider the following: Instead of trying to oversell your prospects with stuff they don’
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
need, inform them about things that compliment what they’re about to purchase. Focus on the benefits of your products and services, not the features. Finally, up-sell them when they’ve handed you their credit card, not before.
The last step in the sal
The last step in the sal
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
s process, and your last ‘device’, is the Closing. You’ve gotten this far. Your ‘devices’ have all worked properly and have done their jobs. So, are you asking for the sale? It would be a shame to get this far in the sales process and not have an
.
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
thing to show for it.
If you’re not asking for the sale, then here’s a quick solution: act as if the sale is already a ‘done-deal’ – then ask for the sale! It’s as easy as that.
In conclusion, each step in the sales process brings you one step closer
If you’re not asking for the sale, then here’s a quick solution: act as if the sale is already a ‘done-deal’ – then ask for the sale! It’s as easy as that.
In conclusion, each step in the sales process brings you one step closer
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
o the desired end-result – and that is the close of the sale. By carefully analyzing each step, you can determine which one you need to fine-tune. Once all your ‘devices’ are working properly, you’ll begin to see explosive growth in your sales. (c) 2006
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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