Advice You - Business

Be near.
This is a very simple rule of thumb when trying to making customer loyalty programs work. Just start within the area you are most capable of reachin

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

g. Don't go over the fence if you have not secured for yourself a very effective and viable base in your own backyard. Be as near to your customers as possible ge

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

Examples of combination products may in

ographically. Be daring enough to expand when you are already well-known in your area. And trust me, you would not even have to try branching out because it will

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

naturally come when the locals are satisfied with what you give them.

Be prompt
Most rebates, incentives and other customer loyalty programs take forever to

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

experience. Some take about a million points just for a few tokens. Make your customer loyalty programs reachable and at the same time easily attainable. Make it

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

Combination pro

in such a way that you don't get a deficit but customers won't accuse you of being a deceptive scrooge. If you are not yet up for this challenge, it is better to

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

do away with the customer loyalty programs than make a very deficient one that will turn off your customers and potential customers off.

Filter your customers

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

> There are customers worth giving loyalty points to. You will have to be able to find ways to screen those who can afford to keep subscribing to you as opposed

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

o those who are just freeloading with goodies. Having a minimal fee for customer loyalty programs is somehow a good gauge. People who are willing to shell out for

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

membership are those who can afford to stay and be loyal to your business.

Count the cost
The purpose of customer loyalty programs is to facilitate long-te

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

rm income sources for your business. The more people who stay loyal to you, the better and more sustainable it will be for your business. But do not let this desi

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

Following aspects would a

re to build a long-term establishment override your need to earn in the short term. If you are already losing considerable money just to keep your loyalty program

dd to the challenges in developing combination products:

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

, you may have a healthy host of loyal customers without any genuine income coming in. Make sure that the cost of maintaining the loyalty program is well within y

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

our means.

Be as unique as possible
Loyalty programs abound everywhere. Being able to come up with something unique and unseen in other businesses will give

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

you an instant advantage. It is all the more better if the unique program will give them something they perceive to be big enough or a 'bargain'. Innovate and cr

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

eate. Come up with the best and entertain the avant-guarde ways of generating customer loyalty. It need not be based merely on points. Take incentive to a new lev

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

Professional from academic institutions, pharmaceutical industries, health care indust

l and bring rebates a new definition.

Do your homework first
You can never pull off a customer loyalty program if you don't know your customers. Who are the

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

y? What do they do? How much do they earn? What do they like? What have worked for them in the past years? Did they have pet peeves, particular interested you cou

.

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

ld harness to make them like you more? These are just few of the questions you need to be able to answer before concocting a customer loyalty program. If you are

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

Companies that provide selfless information through particip

well able to answer these questions all the time, you will not just have efficient customer loyalty, but you will also be in the makings of being a household name

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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