Useful Advices - Business

The one aspect of selling that all of us seem to hate is Prospecting. It is easy to visit with customers or even with folks with whom we have a relationship other than that of a 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

ustomer. But when it comes to Prospecting, we come up with the greatest reasons as to why we don’t have time.

Yet, the only way to significantly grow our business, increase our i

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

Examples of combination products may in

comes, grow our customer base, is by Prospecting. That is “calling on people and companies we don’t know with the intent of making them customers.”

So we know we need to Prospect

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

but we hate to do it. As a salesman for 35 years I have come up with many ways to Prospect without really prospecting. One way is mailings. That is actually an effort to get mo

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

e customers, but it seldom yields any benefit.

Another way is networking. What a great buzzword. Networking can actually yield results, but when you look at it, networkingis rea

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

Combination pro

ly Prospecting, just done another, more indirect way.

It is much easier to simply make what I call BLITZ CALL®s. Our system for Prospecting addresses several basic facts about se

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

lling in the commercial/industrial market place.

First, prospects don’t buy on the first call, so don’t try to make it a sales call, it should be for introductory purposes only.

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

Second, it will take a minimum of 4 calls to make a sale on a Prospect, so you must establish a follow up system for each one.

Third, since most sales are made after the 4th call

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

and most sales people quit after 2, you will quickly outperform your competitors.

Now here is one thing I have found to be most effective, even in the 21st century. Face to face

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

litz Calling is still the best method for the field sales professional.

If you are in the field and driving past a Prospect, stop in and make a Blitz Call. You may actually get t

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

meet the Prospect. If not, you can do some “field intelligence” on the company. (If you simply make a phone call and get voice mail, what have you learned?)

Look at their facili

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

Following aspects would a

ty, what condition is the parking lot, the lobby, the grounds? What kind of vehicles are in the lot and is there the right number for the size of the facility. (A big plant with

dd to the challenges in developing combination products:

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

nly a few cars may mean they are in trouble). Is there lobby welcoming, clean, up to date? Is there a receptionist, if so, she/he may be a good source of information about the co

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

pany if you can’t get to your Prospect.

If they have a phone in the lobby, make a Blitz Call over the phone to the Prospect, he may come out to meet you. We get this a lot.

Thes

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

things can tell you a lot about the company and people with whom you will be dealing.

I spend a lot of time in the field working with salesman one on one making Blitz Calls. We

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

ake a lot of calls in a day. Some get us only information, but we get to see Prospects more often than you would think. But that only happens because we actually stop and make th

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

Professional from academic institutions, pharmaceutical industries, health care indust

e calls.

A Blitz Call should only take about 4 minutes. If you make 3 a day that is 12 minutes, we should all have time for that.

If you make 3 Blitz Calls on Monday, Wednesday,

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

and Friday, that is 9 per week. If you work 40 weeks a year then you will make 360 Prospecting this year. How would 360 Prospecting calls change your life this year?

You can see

.

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

how simple it is, if you are making 360 Prospecting calls, then there is no pressure on you, since no one call is that important. If you are only making 10 Prospecting calls this

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

Companies that provide selfless information through particip

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 - Prospecting and Making Cold Calls

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