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Useful Advices - Cross Selling
When I was sixteen and still at school, I worked in a department store on a Saturday. Cross selling was made easy for me then. For a while I worked in the menswear department. Someone came in to buy a shirt, and because all t
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
he related goods were displayed next to each other it was straightforward to ask whether the customer wanted a pair of cuff-links or a new tie to go with the shirt. If they bought a tie, the next cross sale was to suggest the
; 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
also buy a spot-cleaner for the tie. A friend of mine worked Saturdays in a DIY store. Similar rules applied. Someone bought a tin of paint, and the cross sale opportunities were perhaps a paint brush; a brush cleaner; or ev
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
en one of those implements to help keep lines straight. The basic rule to cross-selling then were - if you have a number of products to sell, group them together so that the customer doesn’t have too much of an effort in seei
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
g the relationship between your products. That’s not to say that it will happen. Often the customer needs to be told about the relationship and have the idea planted verbally that they could buy more than what they originally
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
came in for.
40 years later and the same rules apply. Trading on the Web has even made it possible to display not only your own diverse product range on the same page, but also relationships and partnerships with other compa
40 years later and the same rules apply. Trading on the Web has even made it possible to display not only your own diverse product range on the same page, but also relationships and partnerships with other compa
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
nies. Yet research shows that simply because goods are displayed together does not hugely increase buyer behaviour.
Cross-selling from the sixties has evolved into CRM (customer relationship management) in the 21st Century.
Cross-selling from the sixties has evolved into CRM (customer relationship management) in the 21st Century.
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
he theory is that the more products organisations sell to customer; the lower is the probability that the customer will buy elsewhere, and the more profitable that customer relationship will be.
CRM systems make it easy for
CRM systems make it easy for
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
the salesperson to identify additional sales opportunities. The first product a customer buys adds to the customer database of knowledge the company has about the buying habits and profile of the customer. If it’s a really so
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
histicated CRM system it will flag up to the salesperson cross-selling opportunities, and in some cases even provide the salesperson with the words to say.
Yet once again, research shows that even giving salespeople the word
Yet once again, research shows that even giving salespeople the word
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
to say has increased cross-selling by only a very small percentage. Why?
Simple – selling is still very much a human face to face activity, and as such buyers are motivated by emotional feelings as much as by logic. The log
Simple – selling is still very much a human face to face activity, and as such buyers are motivated by emotional feelings as much as by logic. The log
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
ical relationship between products and services can be totally overridden by the feeling that you are being sold to or that the salesperson is being less then honest in his or her desire to sell you something you didn’t appea
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
to want at the outset.
Retailing should be relatively easy. Your goods are on display. The customer buys something and the relationship between the other products on display is understandable to you both. Therefore a confid
Retailing should be relatively easy. Your goods are on display. The customer buys something and the relationship between the other products on display is understandable to you both. Therefore a confid
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
ent suggestion about the relationship often works.
• If your business is more complicated, or your goods are not in the customer’s face (you might not have retail premises) then you need two things:
A story which includes y
• If your business is more complicated, or your goods are not in the customer’s face (you might not have retail premises) then you need two things:
A story which includes y
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
ur full range and explains how they are related, and/or
Customer databases which highlights the relationship – but which should still rely on the story in point 1.
• If you have a database be careful about telling the custo
• If you have a database be careful about telling the custo
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
er how much you know about them. Imagine you buy your cigars at the same tobacconist every week to be told – ‘I see that you’ve bought our product seven times this year, and yet my database reveals that you don’t smoke’.
No
No
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
matter what you know about the customer it’s still better to have them tell you verbally in answer to a question. All of us like talking about ourselves, no matter how much the other person already knows about us.
It is clea
It is clea
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
that in a competitive marketplace it will be the people who can sell more to each customer and effectively stop the customer buying from the competition who will survive. The future appears to be that in marketplace where th
.
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
e rules of specialism seem no longer to apply that your specialism could become a competitor’s cross-sell. So we either form commercial relationships with other supplies, or we run the risk of them supplying our specialism.
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
was in a German coffee-shop in the UK the other day that also sold clothes and kitchen accessories. I haven’t worked out the relationship or indeed the story – but people were buying. Cross-selling has moved into a new arena
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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