Advice You - Business

In my humble opinion, the term sales manager is extremely misleading yet most companies continue to use this description for one of their most important positions. Let's think for a mo

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

ment how sales are actually made. Do we as sales people create the sale through our dynamic personalities and outgoing demeanor. Hardly; we make the sale through our continued activi

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

Examples of combination products may in

y with the client. I will go out on a limb and boldly say we never manager sales, rather we manage activity. Should you disagree with this please read on.

Nothing happens until a sal

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

is made! The truth in this age old comment sometimes amazes those new to the filed of sales. In a prior life I would always begin a sales meeting with this statement and always begin

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

my interviews with potential employees with the same comment.

So, if we have to manage activity and nothing happens until a sale is made, how do we accomplish both tasks in order to b

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

Combination pro

successful at the science of sales? The answer is rather simple. As the "Sales Manager" one must put into place some very simple but effective methods of managing activity. Some ver

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

y successful and seasoned professionals will disagree with my suggestions and that is OK. If you are satisfied with the performance of your sales team and are making as much money as y

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

u want to make then stop reading now. Otherwise read on for some proven tactics.

The plan is very simple as one activity leads to another and eventually to a sale. Regardless of the

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

mount of money being spent on the sale, the steps to making the sale are always the same and must be orchestrated if you are to be successful. We will discuss sales training another da

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

so let's concentrate on the activity required and how to track it properly.

As elementary as it may seem, you must require each salesperson to make a predetermined number of sales cal

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

s per day or week but this number must be specific and rigid.

Second you should set a goal each week for number of demonstrations or proposals or both. Naturally the product will dete

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

Following aspects would a

rmine if you need demonstrations or presentations prior to the actual proposal. A good rule of thumb is to expect 5 personal contacts before a presentation can be expected and possibly

dd to the challenges in developing combination products:

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

more for the proposal. This varies from industry to industry.

Third, you should determine a closing ratio for each member of the sales team. Naturally you can use one of your success

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

ul salespeople as a benchmark but each salesperson has to have their own closing ratio. This an excellent method for forecasting sales and for modifying commission plans.

Fourth, each

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

sales person has to keep a list of their top prospects and the sales dollars forecasted for the account.

Fifth, where is the account in the process? i.e. are they ready to make a deci

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

ion or are they still kicking tires?

And sixth, every salesperson should keep a record, either electronically or written regarding personal information of every person involved in the

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

Professional from academic institutions, pharmaceutical industries, health care indust

process from maintenance person to executive Vice President.

There are always more steps that may be added or perhaps you might reduce some step but the key is to keep sales people fro

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

wasting time on non-productive accounts or individuals.

We all spend money on countless items each day and in my case I like to purchase costly items from someone I know. The individ

.

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

al who has sold me over 100K in automobiles during the last two years realizes the value of everything listed above especially step six. He knows a lot about my and my wife because he

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

Companies that provide selfless information through particip

ook time to ask the questions and was rewarded with us purchasing another vehicle from him recently.

Remember none of this is brain surgery and just takes a little effort to accomplish

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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