Advice You - Business

One of the best ways to increase sales is to keep in touch with people. From calling on former customers to checking in on new leads, it's critical to stay in

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

touch with people on a regular basis.

One of the reasons for this is that it takes time to develop the trust required for someone to do business with us. If

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

Examples of combination products may in

we're a "stranger" they might hesitate even though they want or need what we offer. Remember, studies have shown it typically takes 8 to 15 contacts before a

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

ale is made.

Another reason is people have a lot of things going on. What's important one day may drop off their radar screen the next. Priorities change fro

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

day to day as life intrudes on people's plans.

Put these two facts together and you can see what happens.

A person decides they're interested in our produc

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

Combination pro

or service. They call or they stop by. We chat and things seem to be going well. Then they leave and we never hear from them again. The fact is they're stil

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

interested but, because our business is new to them they might not feel comfortable making the purchase yet. They need to warm up to us. Their trust level st

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

ll needs to move up the scale.

So they leave without making a purchase. Then reality steps in. Their focus turns to something else and soon their interest

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

n our product or service moves so far down their priority scale they forget about it.

It's not that they have decided not to buy from us. It's not that they

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

ave lost interest. They simply need more time to get through the buying cycle, so they feel comfortable doing business with us.

Our job then, is to help them

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

move through the buying cycle and raise their comfort level so they'll decide to work with us.

The key to accomplishing this is with follow-up.

We need to f

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

Following aspects would a

nd ways to re-engage people, to re-connect with them so they remember why they were interested in our product or service in the first place. We need to help t

dd to the challenges in developing combination products:

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

em stop, if only for a moment, and say "Oh yeah, I should look into that..."

But we need to do the follow-up in a way that is professional, not pestering. We

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

need to show them our goal is to help them rather than to just make a sale.

There are many ways to keep in touch without becoming a pest.

When you follow-up

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

you should have something for the person you're contacting. Maybe it's a "VIP" card that gives them a special discount. Maybe it's a token for a free cup of c

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

ffee. Maybe you send them an article about their industry that they might find interesting.

When you show up with something for them, you are showing them yo

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

Professional from academic institutions, pharmaceutical industries, health care indust

r focus is on them, not you. If every time you contact someone you give the impression you're just looking for a sale, they'll think of you only as a salesper

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

on looking for a commission.

On the other hand, if you always have something for them (a gift, an article, a referral, an invitation to a business event, eve

.

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

some local news or gossip) then you become someone they enjoy talking with. You become a welcome break in their busy day.

At this point you've made a new fr

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

Companies that provide selfless information through particip

end who should have no hesitation becoming a customer. You've become part of their world, so when they want or need what you offer, they'll think of you first

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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