Useful Advices - Business

In the last issue I shared with you a technique for getting permission to follow up with people who have seen you speak on stage. This was just one example of a tactic for filling your pipeline.

In these next two issues we'l

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

l look at one of our favourite and most powerful tactics for attracting new leads and turning complete strangers into customers as efficiently and enjoyably as possible.

So buckle up and hang tight as we take another trip do

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

Examples of combination products may in

wn the Lean Marketing Pipeline...

Whenever we attempt to attract new business, we're paying for the privilege. You're paying to educate, inform, attract and persuade. Right up to the point where they pay for the product or s

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

ervice you provide, you're parting with money and time in return for nothing but their attention.

So, if you're already giving all this time, energy and money away for f'ree then it's not going to hurt to give something away

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

that they actually value, want and need. In fact doing this sets up a nice chain of events and really helps to move people through your relationship pipeline.

Believe it or not, people don't like being sold to. We like to be

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

Combination pro

lieve that we make decisions based on rational thought. That we chose a particular course of action because we were shrewd and well-informed. We like to feel in control and expect to be treated respectfully.

Being sold on a

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

freebie?

Well that's another thing entirely. If we're offered a f'reebie and it looks interesting enough then we'll take it. There's nothing wrong with being guided to something of value - we just don't usually like the hard

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

sell.

So a f'reebie can be seen as a little sweetener for getting strangers into your pipeline or as a bonus incentive for people deciding to buy what you sell. We'll look at a few categories for the freebie, how you might

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

se them in your pipeline and the pros and cons but first, let's just consider why a f'reebie is probably your most powerful persuasion tool.

5 Reasons Why The F'REEBIE Is Good:

1. You're Paying Anyway...

You're usually pay

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

ing to get people to do something that they'll initially resist. Give something for f'ree and they'll usually gladly give you useful information and permission to contact them in the future.

2. Everyone Loves a Bargain...

P

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

eople who found the f'ree information useful will probably tell their contacts how to get hold of the same information. This applies equally to potential customers, the press, resource guides and websites. You can get a lot o

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

Following aspects would a

f unpaid sales-people on your side with very little effort.

3. Humans Are Generally Reciprocal...

You scratch my back and I'll scratch yours is the mantra for many animals but especially humans. Many of us even have an aver

dd to the challenges in developing combination products:

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

ion to being 'indebted' and may go out of our way to ensure our 'debts' are repaid. Potential customers might just be tempted to give their business to you over a competitor, because they 'owe you one'. Once they've made the

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

decision all you have to do is deliver what you promised.

4. Feel Good Marketing...

By deciding to give away information to others without expectation of reward you'll feel good. For those people who've always thought marke

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

ting was a form of manipulation then approaching the process from a place where you give first can make the whole process far more pleasant.

5. You Look Like A Hero...

If you provide something truly useful and don't even ex

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

pect payment then people will think you're a trustworthy character. If you provide big value without asking for a penny in return you could look like a hero. People look to, trust and admire heroes. It's good for business to

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

Professional from academic institutions, pharmaceutical industries, health care indust

ave your customers looking to you, trusting you and admiring your work don't you agree?

In the next issue I'll give you ideas for creating powerful freebies of your own. But as a really easy start to get you into the spirit

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

of things why not just share something of ours for free with your contacts today? I've found that pointing someone you've recently met to some useful information is a great way to start a new relationship off on the right foo

.

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

t.

You could...

* Tell them to join you on the Lean Marketing Champions eZine by sharing this link... www.leanmarketing.co.uk/free-news.php

* Point them to a selection of f'ree eBooks by sharing this link... www.leanmarket

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

Companies that provide selfless information through particip

ingpress.com/books-free.html

* Let them know about a fantastic publishing package that gives authors 50% royalties by sharing this link... www.leanmarketingpress.com

Givers Really Do Gain - Try it today and see for yourself

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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This very brief article looks to human nature to explain why duopolies are often so competitive.

Here's a productivity tip that will save you a lot of time and trouble if you need to collate responses from staff for any reason, especially if you work for an organisation with a lot of staff.

Marketing coach, Catherine Franz, shares with you all the how-tos in creating slogans for your life, your career, and your business.

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Useful Advices - Moving a Business Relationship from Free to Fee: Turning Strangers to Friends with Power of Freebies

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