Advice You - Business

Everyone wants to earn more, but few are willing to change behavior to do so. In fact, most aren’t. In my work of over 19 years with the high sales achiever, I find that most of them o

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

perate with a different set of rules about selling and the pursuit of new business. These new rules help govern their behavior and actions in the sales cycle. I have over 25 rules that

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

Examples of combination products may in

I’ve documented, but here are the top five for you to consider:

1. Define what you want to attract.

High sales achievers are very specific about what th

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

ey want to attract, both in terms of financial outcomes and business relationships. The Universe has an interesting way of delivering to you exactly what you order, so be specific on y

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

our order when you place it. The Universe doesn’t respond well to, “I just want to make more money.”

2. Bring up what scares you.

Most sales executive fea

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

Combination pro

rs are an illusion. The worst thing we can do with fear is to ignore it. That feeling of fear is trying to tell you something and what it’s telling you is, to act on it. If you’re in a

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

sales process and you feel some fear about bringing up a difficult subject, then that’s exactly what you should discuss. Reveal what you feel.

3. Never Coerce.

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

It’s been my privilege to work with some extremely high achievers in the profession of business-to-business sales. One thing I find about them is that they are ‘detached to outc

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

omes.’ They spend no time “convincing, persuading, and defending.” And they spend little time trying to coerce prospects into their way of thinking. When you, a marketing and sales pro

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

fessional, begin to encroach on your prospect’s freedom, you become the pain and they’ll get rid of you. Tell people upfront “it’s alright if you decide this is not a fit at this time,

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

let me know and I’ll be gone.” But do that upfront. That way you’re not 18 months into the process when you hear ‘no.’

4. Think “Process.”

The greatest bus

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

Following aspects would a

inesses in the world have the greatest processes in the world. So why should a sales professional be any different? Of all the processes that the high sales achiever has, the most impo

dd to the challenges in developing combination products:

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

rtant one is the sales process. A great sales process is one where you can, in a step-by-step fashion, lead people from beginning to end with the constant understanding that some peopl

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

e will qualify “out of the process” and you can move on. Not only should you have a process, but you should also follow it and be indignant about the prospect’s adherence to it. Great

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

sales processes are better for the prospect because it helps them identify their problem quicker and create a better solution. If you feel your sales process is only in your best inter

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

est, then you’ve got the wrong process.

5. Think ‘Leverage.’

One way to leverage your strengths is to hire other people and train them to do the things you

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

Professional from academic institutions, pharmaceutical industries, health care indust

don’t want to do. But as sales professionals--even as high achieving sellers -- you might not have the latitude to go hire staff. But what you can leverage is “current relationships.”

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

High achievers never make cold calls. Why would they? The reason: they have learned the power of referral marketing. They find a way to use their current client/network relationships

.

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 bring them new, ideal clients.

This is not as simple as “give me ten people you know, so that I can go make a sales call to them.” It is a thoughtful, strategic way to g

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

Companies that provide selfless information through particip

enerate enough goodwill with your clients that they demand to introduce you to their friends and associates. A great referral program doesn’t work if you’re not thinking “leverage.”

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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As we all wrestle with getting our employees to recommend and suggest items to customers, perhaps you should consider a different approach. Design the menu to sell for you and, in the process, speed up service times, especially if you have a drive-thru. After I went through another lengthy service experience due to indecisive customers ahead of me in line, it was apparent that until I can place my order online or at a self-service kiosk, something must be done by operators to make ordering easier for customers. So look up at the menu board.

Marketing requires faith and patience. Attorneys like to prod and poke a marketing effort until they can prove to their great satisfaction that there is no way it can work

A well thought out game plan is a winning strategy in any battle! Your business is no less than a battle too, in which your competitors are trying to outsmart you every moment. To win this war, you need a game plan for your business. In other words, you need a marketing plan.

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