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Useful Advices - The Myths of Selling
For more than a decade I have the opportunity to interact with thousands of salespeople and I have discovered a few myths that many of them have fallen prey to. Here are just a few.
1. Buyers are liars. I’m constantly amazed how
1. Buyers are liars. I’m constantly amazed how
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
many salespeople use this expression. Do people mislead salespeople? Absolutely. But this usually occurs when the sales person has failed to earn that person’s trust. Gaining someone’s trust means not pushing them into making a bu
; 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
ying decision. It means focusing your attention on THEIR situation rather than trying to close the sale. Earning trust means treating people with respect and dignity even if they are not prepared to make a buying decision right no
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
w.
2. Anyone can be persuaded to buy. This may be true of impulse purchases but in today’s business world, buyers are more savvy than ever before. I once heard someone say, “If you have a strong case you will clarify it. If you h
2. Anyone can be persuaded to buy. This may be true of impulse purchases but in today’s business world, buyers are more savvy than ever before. I once heard someone say, “If you have a strong case you will clarify it. If you h
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ave a weak case, you will try and persuade the other person.” The real key is to determine whether or not the person or company you are speaking to has a genuine need for your product or service. If they do not, then your best str
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ategy is to move on to someone who does need AND want your particular solution. Even if a company could benefit from your product but they are reluctant to give you the opportunity to discuss, your time is better spent talking to
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
other companies.
3. Price is the primary reason people make a buying decision. I will never dispute that price is a factor in the buying process but it is not usually the primary reason, unless, of course, you fail to establish t
3. Price is the primary reason people make a buying decision. I will never dispute that price is a factor in the buying process but it is not usually the primary reason, unless, of course, you fail to establish t
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
e value of your products or services. If you don’t clearly show how your solution will help your customer, price will become the default decision-making criteria.
4. A technique that works well for one person will work for everyo
4. A technique that works well for one person will work for everyo
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ne. Countless books have been written about one sales strategy or another and I have read many of them. In this search, I have discovered that we all have our unique personality and what works well for someone may not work as effe
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
ctively for us. However, instead of discarding that particular idea you should look for a way to integrate it into your natural style and approach.
5. It’s critical to close the sale as soon as possible. This is one of the crazie
5. It’s critical to close the sale as soon as possible. This is one of the crazie
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
st beliefs. Yes, it’s important to move people towards a buying decision. Yes, it is important to gain commitments along the way. Yes, it is important to include a call to action in your proposals and conversations. But, it is als
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
o important to recognize that not every sales decision will be made quickly. Decisions can be delayed for a number of reasons, and in certain situations, trying to rush the customer to a commitment will actually cost you the sale.
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
6. Close the deal at any price. Too many people feel they have to close every deal, even if it does not make good business sense to do so. I have spoken to countless sales people who will accept a deal that has virtually no marg
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
in just so they can get the sale. I recall talking to a store owner who quickly matched the prices of her competitor in order to prevent people from going to her competition. However, this seldom creates loyalty and only condition
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
that customer to continue asking for a better price. Decisions like this cost you or your company money. If you are not making your desired gross profit on a particular sale, then you need to consider whether it makes good busine
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
ss to accept it. I know small business owners who will offer substantial discounts to a large company in the hopes of generating additional business from that client in the future. Unfortunately, they end up giving away their serv
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
ices and expertise because they don’t get any more business from that company. They neglected to negotiate an upfront agreement.
7. Do whatever it takes to get the sale. Manipulative, aggressive, high-pressure sales tactics work.
7. Do whatever it takes to get the sale. Manipulative, aggressive, high-pressure sales tactics work.
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
But, they don’t create loyal customers and clients. You may win the sale, but in the long run, you will lose the customer. I once had a participant in a workshop proudly state, “I don’t care what my customer’s want, I’ll sell the
.
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
m what I need to hit my quota.” Ouch! As a sales professional I take serious offense to this mentality and type of behavior.
Selling is an honorable career and sales professionals need to avoid falling prey to these myths. Focus
Selling is an honorable career and sales professionals need to avoid falling prey to these myths. Focus
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
on helping your customer make an educated buying decision. Concentrate on asking high-quality questions and positioning your solution appropriately and these myths will not affect you.
© 2007 Kelley Robertson, All rights reserved
© 2007 Kelley Robertson, All rights reserved
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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