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Advice You - Grow Your Business with a Newsletter
You find a Web site or receive an email about an online store with cool products that you'd like to order, but not right now. Either you file the email or bookmark the Web site. How often do you proactively return to the email or Web site? For me, the percentage is miserably low and my boo 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 kmarks file is hey-uuuge. If getting people to your Web site is a breeze, then you're in good shape. The question is... how often do they return especially when they are ready to buy your product or service? By that time, they may have forgotten about your site and services. Regularly co ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in nect with them through an email newsletter. It's a great way to trigger their memories, give them something for nothing, and build relationships. The payoff will be new and more business, money in the bank account. A high quality newsletter demonstrates value, trust, and stability. Val lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. e How many newsletters and emails have you seen from companies that were all about "them?" They discuss their newest products. Their site redesign. Their receiving an award. Does this information help you? Maybe if you're a shareholder; otherwise it useless information. Newsletters d here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe monstrating value by providing information to help readers in their everyday work such as solving the problems they face, keeping them on top of industry trends, and saving them research time by filtering the best articles related to the business. When a newsletter repeatedly gives reader d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro something of value without a price, they eventually make the buy because the company has proven its expertise through problem solving. One newsletter does a great job in using a sense of humor in its promotional items. Watch the ratio of solutions versus selling. If selling dominates the ucts have become life saving products for the pharmaceutical companies who doesnt have many innovative molecules in their product pipeline and have been inc newsletter, then it is not likely to be as effective since it's focusing on the company not the reader. Promoting services and products is fine as long as there is more problem solving content than promotions. Readers often provide feedback showing their appreciation for our saving them t 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 ime. They don't have the luxury of searching Web sites for the latest information in their industry. A newsletter gives them that, a little bit of everything in one spot. Ultimately, providing value to readers means solving their problems and making their jobs easier. Trust Do you nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically buy from someone you don't trust? What about Web sites selling products? eBay has the rating system where buyers and sellers rate one another based on their sales experiences. Would you buy from someone who has 50 percent positive / negative feedback? Trust plays a role. Newsletter publis 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 ers become a trusted information source by knowing their audience and being honest with their readers. Furthermore, as the newsletter continuously solves business problems, it shows the readers the company behind the newsletter understands them and their challenges. Add more credibility by ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi interviewing experts or inviting them to contribute an article. Demonstrate integrity by creating a mailing list in a respectable way (read: avoid buying lists). Grow the mailing list by"
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a mation. Keep the removal process simple. If someone doesn't want the newsletter, maki dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod g it harder for her to get off isn't good for the business. It reduces credibility. Besides, if she can't get off, she'll add the newsletter to the spam filter. If there are 100 people like this, it wastes space and clutters the mailing list. Let them go. Involving readers is a great way cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin o build trust and a community. Provide an outlet for encouraging reader feedback in every issue. Invite readers to submit questions and help each other solve problems, share success stories, anything that would encourage them to write and provide information of value to other readers. Man tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen y newsletters offer readers the chance to ask a question and in turn, post the question so other readers can help. Another way is to ask readers a question on the topic of the month and follow up in the next issue with responses. People like to see their names in lights, so it's another wa 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 to connect with readers. Stability Emailing newsletters on a regular schedule with accurate and timely is what it means to demonstrate stability. It's not just about finances, number of years in business, or product success. Actions are the best way to prove stability. To do thi ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust with a newsletter:
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products times change is necessary). Stability shows the company is always available when needed and comes through when the call is sounded. While finding new clients is essential, staying in touch with current clients is vital because they have us . 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 d the service and know the quality of the work. They're more likely to buy again as long as you stay in touch. Newsletters are a great way for maintaining customer loyalty while searching for new customers. High quality newsletters demonstrate value by providing information relevant to th elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip reader; stability by regularly sending the newsletter; and trust by speaking from integrity. While newsletter should focus on the customer not the company, both parties should gain value. As long as the three factors are in place, the newsletter should be a winner. (c) 2004 Meryl K. Evan 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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