Useful Advices - Business

It's a well-known fact that it costs many times more to acquire a new customer than to keep doing business with your existing ones. For this reason, the best way to become profitable is to hav

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 loyal customers who keep coming back again and again. It's all about relationship building. So what can you do?

Customers Aren't as Loyal as They Used to Be.

It used to be that customers w

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

Examples of combination products may in

ould find one service that met their needs and stay with it for absolutely years. Now, though, customers are fickle, and can all-too-easily be tempted away by a competitor's offer if they feel

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

that it sounds cheaper or better than yours. So-called 'loyalty management' has become more of a science than it ever used to be, and it's one that you need to make use of if you don't want t

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

o be constantly failing to retain your customers.

Offer Discounts for Repeat Business.

You will see some businesses who give people a 'first-time' discount, as a hook to get people to try th

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

Combination pro

eir services. This is entirely the wrong way to do it. What you should be trying to do is reward loyalty by giving people a discount each time they use your services. Over time, this makes it

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

so that moving to the competition looks like a ridiculous proposition for them -- why would they when they get a 20% discount from you every time?

Keep Mailing Lists.

You should have at leas

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

two mailing lists: one for your prospects (people who might buy from you), and one for your customers (people who have bought from you). You should lavish attention on both lists, but especia

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

lly on the existing customer one -- and really lay it on thick for anyone who's bought from you more than once.

You need to be in contact with your regular customers as much as you can, alway

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

s understanding their needs and when they might need you again. Don't worry about this costing masses in direct mail, as you can always do it by email. The secret is this: contact, contact, co

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

ntact. Send your regulars Christmas cards, invite them to meet with you for lunch -- anything you can think of. A good tip is to always use the techniques that your competitors are neglecting.

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

Following aspects would a

If your service is one that the customer will need at regular intervals or a certain time of year, make sure you keep track of this in your customer database and send something out then. The

dd to the challenges in developing combination products:

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

re's nothing worse than losing out on a customer's business just because they didn't have your phone number to hand and had a little extra time to see an offer from a competitor.

Another good

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

thing to send to your mailing list is a newsletter, either by email or post. Take a few hours each month to write something with useful information about your industry that your customers are

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

likely to keep and find useful, and put your logo on the top so that they can be reminded of you when they see it. As a bonus, you can keep this material archived on your website too, so it ca

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

n be found by people searching for related words in search engines.

Be Crazy About Feedback.

You need to phone up as many customers as you can to get their feedback after they deal with you.

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

Professional from academic institutions, pharmaceutical industries, health care indust

Make sure they were satisfied with what you provided, offer to fix anything that they're not happy with, and ask them if they can think of any way you could improve. Customers will appreciate

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

this -- and they'll like it even more if you actually implement their suggestions.

Provide a Personal Service.

Go the extra mile to make your customer feel like they're your friend, and not

.

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

just a tracking number in your database. Tailor everything you do to their needs, and make everything easy for them -- don't leave them to do legwork that you could be doing. After all, they'

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

Companies that provide selfless information through particip

re the customer.

Finally, cheesy as it might sound, customers really appreciate a little thank you note when you've received their payment. For an extra personal touch, you could handwrite it

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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Useful Advices - Keeping Customers Loyal

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