Advice You - Business

The one thing almost everyone in sales would agree about is that salespeople love to talk. And we all know listening takes away

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

from talk time. The other thing there would be little disagreement over is how critical listening is in sales.

Being an effec

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

Examples of combination products may in

tive vs. efficient listener not only gives you the information you need, but it also helps you connect with clients. As you lis

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

en effectively, you encourage clients to share more, develop confidence in you, and connect with you. If you go to a party, who

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

do you think is really great - the person who showed an interest and listened to you.

It is my experience that for every perc

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

Combination pro

entage a salesperson's listening ratio goes over 50% of the call, there is a greater chance of closing. As a rule of thumb, lis

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

en at least 50% of the time in each sales call.

While of course all salespeople listen to some extent, listening is more than

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

being quiet when the client is talking. That is just a start and anyone who makes it in sales can do that fairly well. Effectiv

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

e listening is what you do with what you hear.

For example, a client says, "We are looking to expand into new markets outside

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

he city. I do have some reservations, but our board is totally sold on it." About 3 out of 10 salespeople, because they are eff

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

icient listeners, provide their point of view rather than acknowledge and probe further. But effective listeners, the salespeop

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

Following aspects would a

le who sell in the "Advisor Lane," pause, acknowledge first, and probe and ask, "Specifically what markets?" They continue to a

dd to the challenges in developing combination products:

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

knowledge and ask, "What are your reservations?" and acknowledge again and ask, "Why is the board so keen on this strategy?"

Y

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

our clients can tell if you are listening if you:

• Maintain eye contact (when face-to-face)

• Acknowledge or empathize with

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

what the customer has said before giving your ideas

• Ask questions that drill down to learn more

• Incorporate customer's wo

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

ds and language in your response - "Speak your customer's language"

• Don't interrupt

• Take notes of key ideas

AND MOST IMP

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

Professional from academic institutions, pharmaceutical industries, health care indust

ORTANTLY

• Bring them tailored solutions that resonate with them and make it easy for them to say yes

The bottom line is the

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

best listeners give up airtime. They are on "receive" more or at least as much as they are on "send." Listening takes focus and

.

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

energy. It is not a time to rest or plan what you will say next.

Salespeople who are effective listeners go deeper and use wha

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

Companies that provide selfless information through particip

t they hear. They are rewarded with clients who turn to them because they know they will be heard and, more importantly, helped

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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Advice You - The Art of Listening

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