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Advice You - How To Generate 200% to 600% More Profit With 'Fusion Marketing'
You may have heard this called ‘Joint Venture’ Marketing. Or ‘Endorsement Marketing’. I’ve seen it called ‘The Greatest Marketing Secret in the World.’
‘Fusi
‘Fusi
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
on Marketing’ is simply the newest label. The important thing is, especially for a small to medium sized business owner, this is a marketing method tha
; 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
can quickly deliver at least 6 benefits to your business:
• Receptive prospects
• Instant credibility for your product or service
• Solid source of
• Receptive prospects
• Instant credibility for your product or service
• Solid source of
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
quick cash flow
• High percentage of sales per prospect
• Repeat business
• Minimal expense
This might require some new thinking on your part. The
• High percentage of sales per prospect
• Repeat business
• Minimal expense
This might require some new thinking on your part. The
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
reason is simple. A key to successful marketing today is in embracing the concept. of ‘cooperation’ vs. what we usually think of in business, ‘competit
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ion’.
Fusion Marketing can be summed up this way: ‘credibility by association.’
When a credible person or organization becomes a ‘fusion marke
Fusion Marketing can be summed up this way: ‘credibility by association.’
When a credible person or organization becomes a ‘fusion marke
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
ing’ partner, allowing you to contact their base of customers, and in effect, endorsing your business, the potential customers set aside much of their
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
skepticism about your business or your offer. They know and likely trust
the business person or organization endorsing you. The odds of success sk
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
rocket.
So how do you put Fusion Marketing into action for your business?
Depending on the type of business you are in, there will be diff
So how do you put Fusion Marketing into action for your business?
Depending on the type of business you are in, there will be diff
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
erences and distinctions, but here’s a general idea.
1. Write a hard-hitting sales letter about your product, idea or service.
2. Locate businesses w
1. Write a hard-hitting sales letter about your product, idea or service.
2. Locate businesses w
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
o sell to your target market.
3. Ask the owner to send your letter to their customer list with a cover letter typed on their company stationary.
3. Ask the owner to send your letter to their customer list with a cover letter typed on their company stationary.
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
(This letter introduces you, tells of the benefits of your products or services and urges readers to review your enclosed letter.)
4. In exchange, th
4. In exchange, th
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
e host business receives a percentage of gross sales. (How much depends on small-ticket vs. big-ticket items and net profits, but even splitting the ne
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
profits is usually worth it. It depends. Negotiate your best deal, but make it worthwhile for both of you.)
5. Make sure that your offer is ‘special’
5. Make sure that your offer is ‘special’
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
and not available to regular purchasers.
6. Test the letters to a smaller list before you get into the bigger numbers. Try two versions and
6. Test the letters to a smaller list before you get into the bigger numbers. Try two versions and
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
track the results of each.
Why go to all of this trouble? It’s simple. Done correctly, such ‘fusion’ projects generate 200% to 600% more profit th
Why go to all of this trouble? It’s simple. Done correctly, such ‘fusion’ projects generate 200% to 600% more profit th
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
an if you simply sent your sales letter to the same list yourself.
There are numerous variations on this basic description. You can mail a sequence of letter
There are numerous variations on this basic description. You can mail a sequence of letter
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
, not just one. Or, instead of asking for the ‘big sale,’ you can ask for a small trial commitment or a request for additional information. Get creative.
.
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
b>
Using this same idea on the Internet might involve finding owners of ezines that are sent to a desirable target market. Approach the owners in the
Using this same idea on the Internet might involve finding owners of ezines that are sent to a desirable target market. Approach the owners in the
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
ame way. See what you can negotiate with them. Either way, the concept of ‘endorsements’ is very powerful, and worth your efforts to find such partners
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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