Advice You - Business

While there are several ingredients that make up a successful sales letter or marketing campaign, you can significantly improve the results of your efforts by presenting your pro

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

spects or customers with valuable offers. The whole goal of direct marketing is to get your target market off their collective couch and take action on the message you’ve sent.

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

Examples of combination products may in

If the offer isn’t valuable and appealing, the chances of that happening are severely handicapped.

Now, there are basically 5 essential ingredients to crafting successful offer

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

. Ideally you would want to include every one of these ingredients in your message or campaign, but you should still see positive results if you can incorporate at least 2 or mo

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

re of the following:

Here are the 5 essential ingredients for any successful offer:

1. Present something new.

This could be a new product, new service, new bonuses, o

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

Combination pro

even new prices. In fact, it doesn’t really matter what the new ‘thing’ is, just as long as you’re putting something new in front of your prospects. Doing so gives you the oppo

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

rtunity to craft an exciting ‘package’ of products or services to incite your prospects to action.

2. Have a sale or offer specially discounted prices.

Now, I’m not no

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

mally one to recommend discounts because of all the negative implications it can have, but there’s no denying the fact people respond to discounts. A decent discount on a starte

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

r package can help motivate your prospects to give you a try, while a discount for existing customers can help reactivate those that have been inactive for a period of time.

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

. Provide bonuses or premiums.

When compared to offering discounts, this method is infinitely more appropriate for motivating your prospects simply because it doesn’t chea

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

pen your services. Plus, it gives them the impression they’re getting significantly more value for the price they’re paying.

There are many things that can be offered as a bonu

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

Following aspects would a

s or premium, such as:

- A low cost, high margin product or service

- Closeout or excess inventory items

- A free report or white paper sharing informati

dd to the challenges in developing combination products:

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

n your prospect considers valuable

4. Present your prospects or customers a gift for responding.

Much like providing a bonus or premium, offering your prospects a

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

gift for responding to your offer often provide enough incentive to get them to take action. Again, it doesn’t need to be something expensive just as long as it has a high perc

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

ived value for your prospects.

There are many services that provide gifts with a high perceived value for a relatively low cost. Additionally, there are many wholesale sources

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

available where you can purchase small lots of items that you could include in your offers.

5. Put a time limit on the offer.

As any smart marketer knows, you should A

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

Professional from academic institutions, pharmaceutical industries, health care indust

WAYS include some type of mechanism for creating urgency. One of the best ways to do this is to put a deadline or time limit on the offer.

Many times, when most people receive

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

an offer, even though it’s something they’d like to take advantage of, t for one reason or another they procrastinate taking action. Limiting the amount of time your prospect ha

.

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

to take advantage of the offer is an excellent way to get them up on the couch and on the phone.

Again, while it’s not necessary to include each of these five ingredients in al

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

Companies that provide selfless information through particip

l your marketing materials and campaigns, every time you’re able to do so, you’ll create a powerful message that motivates your prospects to take the action you want them to take

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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