Useful Advices - Business

The phrase “cold calling” sends chills down the spines of many businesspeople. It’s often viewed as an intimidating, difficult, and boring process … and that means it doesn’t get done

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

as often as it should.

However, outbound telemarketing campaigns are a great way to reach a group of targeted prospects or customers to communicate a message, gather feedback, and de

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

Examples of combination products may in

ermine a next step for the relationship.

In many companies, sales reps should make hundreds or thousands of cold calls every month to set appointments and/or generate leads. But busy

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

reps usually prefer to work on closing their existing pipeline. Prospecting often slips on the priority list; as a result, the sales pipeline isn’t always filled with new prospects.

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

Specialize for better results

If cold calling is an effective way to introduce your company to new prospects, don’t ignore it. Instead of forcing a sales team to dev

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

Combination pro

te time to prospecting, many companies use an in-house or outsourced telemarketing group to make a high volume of calls, find decisionmakers and qualify leads for the field sales group

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

.

When telemarketers handle prospecting, salespeople can spend 100% of their time selling and closing. Your company can produce more revenue in the same amount of time; your reps ear

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

more commission, they’re doing what they love, and they’re more satisfied with their jobs.

Forecast and budget; determine whether to build in-house or outsource

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

Estimate your call volume, then think about hours of operation, fluctuations in call volume, and the skill set you’ll need in your reps.

Your call volume also drive

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

your headcount, software, phone system and the office space you’ll need.

These requirements will help you decide whether to use a vendor or hire and manage a team in-hous

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

. If you look at vendors, the requirements will make your discussions easier and faster.

Budget for everything including headcount, software licenses, bonuses and management

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

Following aspects would a

.

Develop good scripts

Reps will need to capture attention, build value, and close; a good script will help them do it consistently.

dd to the challenges in developing combination products:

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

e your scripts conversational, simple, and focused on the end goal.

It helps to make and listen to calls as you’re developing and refining your script. What looks good on pa

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

per may not work on the phone.

Get feedback from your team as well.

Train and coach your team

Regular coaching and quality assuran

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

e is crucial.

Engage your reps, role-play and guide them through calls.
Listen to calls regularly, evaluate your reps and coach them to improve their performanc

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

.

Make it fun!

Telemarketing is a tough job and turnover is a big issue.

Make things fun with contests, events, and other incentives.

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

Professional from academic institutions, pharmaceutical industries, health care indust

Make their space comfortable and interesting – tiny cubes, old chairs and windowless rooms don’t put a smile in anyone’s voice.

Report your r

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

sults

Define the reports you’ll need -- your system may not be able to provide all of the data, but you can probably find an alternate solution.
Use repor

.

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

ts to consistently evaluate progress and improve your campaigns.

It’s all about execution, so manage your team and devote the resources necessary for success. If

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

Companies that provide selfless information through particip

ou'd like more help, email us at info@marketingmo.com and we'll send you a free outsourcing tool to help you determine whether you should build your campaign in-house or hire an agency

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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