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Digg It - The 3 Laws of Prospecting
When we conduct workshops teaching prospecting, we are always concerned about how the participants will actually implement and use the training. Sadly, too often people will learn and practice the skill in the workshop but not make it a new part of their business lif
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
e once they leave the training.
In a workshop a few years ago we asked the participants, "How many of you will use this method of prospecting?" All raised their hands, which made me feel good. Then I asked the wrong question. "How many of you are willing to be tra
In a workshop a few years ago we asked the participants, "How many of you will use this method of prospecting?" All raised their hands, which made me feel good. Then I asked the wrong question. "How many of you are willing to be tra
; 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
ked in your use of our prospecting method?" Only one raised her hand. We did track her and she quadrupled her business in 4 months. We were delighted.
A few other members of that class did implement the program and enjoyed the benefits of acquiring new customers.
A few other members of that class did implement the program and enjoyed the benefits of acquiring new customers.
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 concern we want to address is: How do we get Prospecting training from the classroom to the field?
This is where the 3 Laws of Prospecting comes in. The 3 Laws are:
• Prepare
• Practice
• Persist
We conduct skill based workshops, so we cover these l
This is where the 3 Laws of Prospecting comes in. The 3 Laws are:
• Prepare
• Practice
• Persist
We conduct skill based workshops, so we cover these l
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ws as an integral part of the program. But the final burden falls on you, the individual sales professional and/or sales manager.
In the workshop you would prepare the words to say, determine how many prospecting calls need to be made to achieve your goals, and esta
In the workshop you would prepare the words to say, determine how many prospecting calls need to be made to achieve your goals, and esta
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
lish a follow up system.
Then, just like in all skill based training workshops, you practice your words in role plays. As a matter of fact, we have you practice it a lot.
Now, here is where the system can break down. The 3 Laws of Prospecting must all be done, or
Then, just like in all skill based training workshops, you practice your words in role plays. As a matter of fact, we have you practice it a lot.
Now, here is where the system can break down. The 3 Laws of Prospecting must all be done, or
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
hey won't work. Therefore, you must persist in your use of the new skills.
If you prepare and practice, but don't persist, nothing new will happen. 66 2/3% equals failure.
The primary benefit behind our prospecting program or any other program comes from long ter
If you prepare and practice, but don't persist, nothing new will happen. 66 2/3% equals failure.
The primary benefit behind our prospecting program or any other program comes from long ter
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
use. That means persistence.
Persistence relieves a lot of pressure on you, the sales professional.
First, it means that you take a proactive approach and are in control of your fate. This is a big mental boost for any sales professional.
Second, persistence
Persistence relieves a lot of pressure on you, the sales professional.
First, it means that you take a proactive approach and are in control of your fate. This is a big mental boost for any sales professional.
Second, persistence
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ssures that you call on all of the prospects in your market and follow up regularly, assuring a chance to sell everyone.
Third, you never have to be concerned about the outcome of any one call, because you will be calling on everyone.
Fourth, it will mean an en
Third, you never have to be concerned about the outcome of any one call, because you will be calling on everyone.
Fourth, it will mean an en
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
to Crisis Prospecting.
Crisis Prospecting is done far too often. Most of you have been in a situation where you have not prospected as you should and your sales are down. Now you find that you need to sell to virtually everyone you call on - that is Crisis Prospect
Crisis Prospecting is done far too often. Most of you have been in a situation where you have not prospected as you should and your sales are down. Now you find that you need to sell to virtually everyone you call on - that is Crisis Prospect
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ng.
In commercial and industrial sales, you won't sell on the first call. As a matter of fact, studies show that these sales are usually made after the 3rd call. This means you have to keep a constant flow of new prospects in the "pipeline." The only way to do thi
In commercial and industrial sales, you won't sell on the first call. As a matter of fact, studies show that these sales are usually made after the 3rd call. This means you have to keep a constant flow of new prospects in the "pipeline." The only way to do thi
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
is to persist at the prospecting process.
Keep in mind that some people will buy soon, some a little later, some later yet, and others further in the future. Our problem is we don't know who they are, so we need to call on all of them and get them in our system.
W
Keep in mind that some people will buy soon, some a little later, some later yet, and others further in the future. Our problem is we don't know who they are, so we need to call on all of them and get them in our system.
W
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
were once competing with two of the big national training firms for a client. The process extended for nearly two years. When we finally won the contract I asked the client why he had selected us? Was it my dynamic presentation, our skill at conducting workshops?
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
hy had he selected us? He said, "You are the only ones who stuck in there over the long run. Everyone else gave up. I want our sales people to persist like that."
When I am in the field making prospecting calls with a client's sales professional, we too often find
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
hat the prospect has recently purchased a new product from a competitor. The sad fact is, our client never even had a chance to try for the business because they had never called on the prospect. This is embarrassing for the sales professional who has been in the te
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
ritory for a while and bad economically for the company.
We include a tracking form in our training, but it must be used by the sales professional and reviewed by the manager. It is simple. We suggest that you simply list the date of the prospecting call, the compa
We include a tracking form in our training, but it must be used by the sales professional and reviewed by the manager. It is simple. We suggest that you simply list the date of the prospecting call, the compa
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
y called on, and the name of the individual within the company who will has responsibility for the purchase. That's it. Nothing more, which is in line with our philosophy of keeping things simple.
We don't want to know the outcome of the call for a very important r
We don't want to know the outcome of the call for a very important r
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ason. As sales people, you tend to think that you will be judged on your prospecting performance by how many people you sell on the first call. Remember that buyers don't buy on the first call. We just want to know that you are making your prospecting calls. That i
.
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
persistence.
Ironically, once you have prepared and practiced and actually begun the process it becomes easier to persist. Therefore, the burden falls on the individual and the manager to see that the new system of prospecting is implemented.
Regardless of what s
Ironically, once you have prepared and practiced and actually begun the process it becomes easier to persist. Therefore, the burden falls on the individual and the manager to see that the new system of prospecting is implemented.
Regardless of what s
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
les prospecting system you use, however, the 3 Laws of Prospecting must be applied - Prepare, Practice, and Persist. Life will be more fun and a lot more rewarding.
Sell Well and OftenTM
Bill Truax
Bill@BlitzCall.com
800-253-1214
© Copyright 2006 WJ Trua
Sell Well and OftenTM
Bill Truax
Bill@BlitzCall.com
800-253-1214
© Copyright 2006 WJ Trua
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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