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Advice You - 5 Secrets to Saving Your Marketing Dollars
Secret #1 Cut Out Your Advertising Excess
Does size really count? Not in this case! Smaller can actually be more effective in the long run! Yes, you can actually cut down the size of your ad and run it more often to receive
Does size really count? Not in this case! Smaller can actually be more effective in the long run! Yes, you can actually cut down the size of your ad and run it more often to receive
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
better results in most cases. The size of your ad does not produce the consumer confidence that consistency does! This first secret alone will save you tons of lost marketing dollars.
By running smaller, less expensive, but rou
By running smaller, less expensive, but rou
; 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
ine advertising you can become more effective in the long run. One of the keys to advertising success is REPETITION. So a one time shot with a big ad will not oversell a smaller ad done consistently.
Secret #2 Market to Your Sha
Secret #2 Market to Your Sha
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
eless Fans
It costs much less to market to your existing customers than constantly chasing new ones. Yes, you must seek out new customers but your existing customers are easier to reach and can build your profits faster.
Dir
It costs much less to market to your existing customers than constantly chasing new ones. Yes, you must seek out new customers but your existing customers are easier to reach and can build your profits faster.
Dir
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ct your marketing dollars primarily to existing customers and your shameless fans and stop constantly chasing new ones. Yes, you must get new customers and you should not avoid marketing to them. But, if you spend more of your mar
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
eting dollars and efforts on the fans who already love you - you will get a greater and faster return on your marketing investment.
Secret #3 Sprinkle Your Database with Bread Crumbs
It always amazes me when I ask my audience
Secret #3 Sprinkle Your Database with Bread Crumbs
It always amazes me when I ask my audience
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
members how many of them send a direct mail piece to their existing customers a minimum of 6 times a year. Very few hands go up. And 6 is just a minimum, it should actually be 8 to 10 times a year to be really effective.
The numbe
The numbe
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
r one reason why customers don't return to do business with you is not because they don't like you, it is because you let them FORGET about you. Another key to your marketing success is CONSISTENCY!
You work too hard to get custom
You work too hard to get custom
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
rs, so contact them often. Increase the frequency of mail to them. Call them more often. Use email to communicate to them. Implement a referral rewards program. Create offers that up sell or magnify your sale.
To do this you sho
To do this you sho
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
ld be collecting the contact information (address, phone and email) of existing customers, prospective customers and even people in elevators. Elevators? Well after all you have a captive audience. Hey, don't underestimate the po
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
er of elevator marketing. I was shamelessly marketing my books to the media at the big book expo in the press elevator. Well, I was thrown out of the pressroom and this SHAMELESS MARKETING GURU does not give up easily. My elevator
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
marketing was effective until I finally got a dizzy from going up and down.
Secret #4 Don't believe What They Tell You
You would be surprised at how magazines and newspapers will cut the price of their rate cards if you ask.
Secret #4 Don't believe What They Tell You
You would be surprised at how magazines and newspapers will cut the price of their rate cards if you ask.
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
Business is difficult for many companies these days and some will do anything to save an existing customer or win over new prospective customers.
Look at advertiser rate cards as a guideline to negotiate your best price and seek
Look at advertiser rate cards as a guideline to negotiate your best price and seek
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
ut FREE media exposure. Don't ever sign a contract without believing you have the BEST and most FAIR offer. Also seek out FREE publicity from them with a special feature story or article about your business. Make sure they includ
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
e a photo of you or your company to make the publicity even more effective.
The FREE publicity, when done well, can get you 10 times more results than your paid advertising. It is not an ad, but a feature story about an expert -
The FREE publicity, when done well, can get you 10 times more results than your paid advertising. It is not an ad, but a feature story about an expert -
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
OU.
Secret #5 Trade Products and/or Service
You can save a lot of marketing dollars by bartering with the media and other business alliances. Believe it or not, as much as 50 percent of media is not purchased, but obtained b
Secret #5 Trade Products and/or Service
You can save a lot of marketing dollars by bartering with the media and other business alliances. Believe it or not, as much as 50 percent of media is not purchased, but obtained b
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
barter. This is a great way to save marketing dollars and save on the retail cost of advertising.
Example: I bartered for a feature story in a national magazine by offering my services as a professional speaker. It was a win-win
Example: I bartered for a feature story in a national magazine by offering my services as a professional speaker. It was a win-win
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
or all. I suggested that they support the success of their advertisers by bringing me in to present a marketing seminar. This way they had contact with their existing customers and new prospective fans. My services were the tool to
.
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
bring them together and build customer loyalty. I won by getting a nice feature store and all I had to offer in return was my time and expertise.
This was a great way for the magazine to RELATE to their existing and prospective c
This was a great way for the magazine to RELATE to their existing and prospective c
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
stomers without giving them a sales pitch. It was delivered through a third party and an expert who supported their publication. You are an expert too. How can you use this to your advantage, barter and save your marketing dollars
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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