Useful Advices - Business

Sales representatives are successful today because they gain the majority of their targeted customers business. They manage the relationship and continuously build relationship equity. That doesn’t mean they operate with the old lone wolf mentality doing everything under the sun f

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

or the customer. They are successful because they take full advantage of all the resources their company has to offer. Transactions and promos flow through a managed relationship. They also dedicate a specific amount of their time to new account development and penetration of thos

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

Examples of combination products may in

accounts with high potential rather than over providing service functions to existing accounts. Ten Key identifying factors that will put more money in your wallet include;

1. Not being afraid to prospect for new accounts and new business. Have enough confidence to view rejecti

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

n as simply a step closer to success.

2. Understanding the value of planning and actually document the key actions necessary to meet specific objectives at specific accounts.

3. Become professional with your planned presentations whether it is to an individual buyer or a group o

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

customer decision makers. Perfect your 25 word elevator speech that clearly outlines your value proposition down pat for those opportunistic moments that may occur.

4. Goals are a matter of course and they include more than just revenue and margin growth. Milestone goals are est

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

Combination pro

blished for target accounts to highlight progress toward their major goals.

5. No one likes record keeping and paperwork but the really successful sales professional understands the necessity and the value received in return for being methodical with their record keeping.

6. Tim

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

management should be forever on your mind and you need to continuously practice efficient time control.

7. You’ve got to be Hunnnnggggrrrry! Hungry for knowledge to improve your skills and demonstrate enough curiosity that you don’t wait for company sponsored seminars for educa

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

ion and training. Read, listen to tapes and finance your own self improvement in addition to company programs.

8. Don’t chase orders, chase customers. Be willing to lose an order but fight aggressively to never lose a customer unless you need to prune your territory garden due t

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

unacceptable profitability.

9. Your objective on every sales call is to identify the customer’s real needs, not to just take an order. Take pride in being a solution provider and demand creator instead of a demand fulfiller.

10. Understand that often a key to your success lies

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

n your ability to educate the customer. This may range in form of business acumen to helping the customer understand real value. Become an expert at demonstrating the difference between price and cost.

The formula for success is simple:

FIND THE CUSTOMER PAIN-----TAKE THE PAIN A

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

AY------ SET YOUR PRICE

Customers will pay plenty, if you can reduce their “PAIN” This is the evolving role of 21st century Field Sales professional. Find out what the customer’s problems are and where they are in pain. Look at it from their point of view, not yours.

Custo

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

Following aspects would a

mers no longer spout off about quality products and reliable deliveries. That’s a given. Although all customers are trained to say “Your Price is to High”, if you find the pain, price is not an issue.

Some Pain Examples

• Recruiting & retention of employees

• Training of employ

dd to the challenges in developing combination products:

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

es

• Getting and keeping customers

• Emergency Crises

• Business Management Skills

• Constant stream of new competitors

• Profitability

• Inventory management

Be Honest With Yourself

Ask Yourself ----- Do I demonstrate these key characteristics? If not study the ten key fa

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

tors. Practice on improving your skills. Take the information you have as a sales professional in your market and build unique solutions that solve your customer’s problems even if those problems have nothing to do with selling them product. They can buy stuff from anyone. They wi

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

l buy it from you to get the “out of the box” benefits.

The Emerging Role of the Sales Professional

Remember the emerging role of the sales professional today is not to increase sales. Let me repeat that--- your role today is not to increase sales. Your role as a sales professio

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

al today is to systematically and consistently increase the number of customers who choose you to be their #1 supplier........

You must become----THE SUPPLIER OF CHOICE---- which means you always get-----THE FIRST CALL----and THE LAST LOOK!

Don’t make the rookie mistake of think

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

Professional from academic institutions, pharmaceutical industries, health care indust

ng that your customers don’t give last looks. If your customer doesn’t give you last look. That means somebody else is getting it. It’s time to evaluate the relationship equity you have built in that account.

Today it’s not about the features and benefits of your product. It’s ab

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

ut value and how your customers are going to make a profit. You no longer just sell yourself and everything falls into place. Today, relationships are still very important but they are the ante to play. Customers are smarter and more educated. You must bring every resource your co

.

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

pany has into play and leverage those resources to create competitive advantage. Learn to really listen to your customers. Let them talk and when there seems to be a pause in the conversation resist the temptation to start talking again. Chances are good that the customer has more

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

Companies that provide selfless information through particip

to say. The quieter you are the more they will tell you. Listen long enough with a few strategically placed questions and the customer might just tell you exactly how to gain his business. (And it won’t just be about price)

So tell me ------ What’s gonna be in your wallet in 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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Useful Advices - What's in Your Wallet-Ten Key Factors That Put More Money in Your Wallet as a Sales Pro

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