Advice You - Business

To survive in business, you've got to focus your attention on the areas that will guarantee you success. Your clients are your greatest asset. Taking the time to educate them and connect with them will pay big dividends ove

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

r the long haul. There are lots of ways to spend your marketing dollars. But I've found that the number one most effective marketing tool around is a newsletter. This is the perfect time of year to fine tune - or develop -

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

Examples of combination products may in

ours.

Hey! It's good news! What sets your newsletter apart from all the other stuff that comes across your clients threshold everyday is that a newsletter is perceived as good news. Think about it, the stuff in the newspa

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

er is general pretty dismal. The rest of the stuff in the mail is either advertisements or bills. Take advantage of that perception of your newsletter being something good.

Please don't insult your clients' intelligence by

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

cloaking a hard sell as a newsletter. Marketing surveys across the country have shown that newsletters are very well-received and the best way to stay in touch with your clientele. Make your message, and your practice, stan

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

Combination pro

above the rest by making each issue interesting and informative.

More education equals more work for you Your clients probably have very little idea what all you do. Your newsletter is the perfect forum to raise their un

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

erstanding and appreciation of the advantages of your services. By just elevating their awareness of the scope of your expertise, your laying the ground work for future business.

There's another added benefit that bares me

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

tioning. When your clients know more about what you do, they talk about it to their friends. A personal referral is ten times more valuable than someone that responds to an ad. They're already prescreened and warmed up for

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

ou.The other plus of this educational approach to your newsletter is that it reminds your clients that they need your services. With so many distractions in our world today, things that are important tend to slip into the b

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

ckground. Each issue you send gently reminds them of the importance of your services

.Just because I said that you shouldn't use your newsletter for a hard sell doesn't mean that you shouldn't use it for promoting gift cer

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

ificates or special offers or rewards for referring new business. It's the perfect place to unveil new services.

Above all else - reflect professionalism Never forget that your newsletter acts as your representative to al

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

Following aspects would a

l that see it. People who may have never met you personally will make judgments about your services solely by what they think of your newsletter.

Each issue may get saved and passed onto friends and associates. These are i

dd to the challenges in developing combination products:

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

troductions to you services. They must make a high-quality presentation. Take some time to get the look and feel right. If you're using a word processing program, for example, to produce your newsletter, you're really selli

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

g yourself short. That may have worked all right 15 years ago, but in today's reality it's just not going to give you a professional looking piece. Of course, since I run a newsletter design service, I'm going to tell you t

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

seek out the services of a professional - but that would be a sort of hard sell. At least, collect some examples of newsletters that you like and use them as guides.

The number one problem most people have when doing thei

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

own newsletter is to stress over content and then put too much into each issue. A good rule of thumb for a standard 4-page newsletter is three articles of 500 - 700 words. Be sure to work in some higher quality graphics to

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

Professional from academic institutions, pharmaceutical industries, health care indust

break up the text. Never, never, never use graphics that you've down loaded from the web. Their resolution is much too low to be of any worth in print. They'll just make your newsletter look tacky and low end.

Make the com

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

itment When you send your newsletter consistently, it communicates to your clients that you're professional. You're establishing a presence and it says that you plan on being there for them in the future. This is guarantee

.

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 help you build a stronger business that's not overly affected by outside economic factors.

This article was written by Barbara Saunders, owner of Newsletter Associates, a complete newsletter service helping companies a

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

Companies that provide selfless information through particip

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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Nothing can start an encounter off on the right foot like a warm greeting. Too often, we make our customers feel unwelcome by greeting them with poker faces. We make them feel like an interruption when we should, in fact, be thrilled that they have chosen to call us instead of our competition.

Hindsight is 20/20 or so the experts have been telling us for years. There is only one place you can change the future and that is in the present. Yes, history can be a relevant teacher and the future can only look either dim or bright but at the end of a day or a year or your career all you have is memories.

If you're not convinced of the value of your services, you'll never make the money you could be making. Decide to become a price maker, not a price taker.

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