Advice You - Internet and Businesses Online

Let's assume your website has a good conversion rate. Somewhere between 1% and 2% of all visitors become customers. You can continue to split test your site and aim for a higher conversion. But for

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

the moment, it may be wiser to put your resources into bringing down the cost of traffic.

How much does it cost to get traffic to your site? If you are like most sites, you rely primarily on pay-

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

Examples of combination products may in

er-click advertisements. Those little ads that appear on search engines when users type in keywords that relate to your website's content.

$2,500 To Attract One Client?

As you may know, ke

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

ywords are bid upon by you and your competitors. There was a day when 25 cents was considered a high bid. Now I'm seeing some keywords, such as "lawyer" or "accidental death" rising as high as $25.

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

If that lawyer's site is only converting one in 100 (which is good), he has to pay $2,500 just to gain one client. I'd hate to see that client's bill.

Even with a moderately priced keyword at $1.5

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

Combination pro

0, you're putting out $300 to gain one customer. (is this now assuming a 0.5% conversion rate instead of 1% as was mentioned earlier?) For high-priced items with a lot of backend, this is still pro

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

itable… Yet most of us would prefer a cheaper way to advertise.

I have found several methods that are more cost effective. Also, they often generate better, more ready-to-buy customers.

You see,

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

other than just the high cost of pay-per-click traffic, there are other problems…

1) Your Prospect Is In Internet Mode: Internet mode is a state where your prospects feel overwhelmed with t

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

e massive amount of information and options available. As a result, they think and move fast. They'll jump into your site and be out in less than seven seconds (leaving you $2.36 in debt to Google

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

and that lawyer $25.39 poorer).

2) There's Something About The Internet That Attracts "Tire-Kickers": So much is given away for free on the internet. Often, you'll only end up attracting "p

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

ospects" seeking either free info, free trials, or a free bonus. Again, you have to pay money to open the door for these people.

3) You're Dealing With A Lot Of Competition: Pay-per-click i

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

Following aspects would a

s the online version of the Yellow Pages. When someone types in your keyword, and your ad appears, you must know that there are 5, 10 or 15 other ads selling the exact same thing competing for your

dd to the challenges in developing combination products:

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

prospects’ attention. Even if they click on your link first, they'll likely be back to the search engine page in a minute to compare prices.

Now I'm not saying you shouldn't use pay-per-click. I j

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

ust wouldn't be investing all your money in it. The days of 25 cents a click are gone for most industries (unless you are selling an ebook on "lighthouse maintenance").

Here's an old fashioned

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

ethod that can help generate high-end prospects to your site…

It's called a postcard. A direct-response postcard. This means we aren't necessarily going to waste an entire side of the postcard

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

with some "attractive" picture. We may even decide it doesn't need any pictures. (After all, we have a message to deliver.)

Also, it will have to be a little bigger. Maybe 8x10 inches? We need it

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

Professional from academic institutions, pharmaceutical industries, health care indust

big so that 1) people notice it and 2) we have enough space to convince them it's worth their time to visit your website.

Trust me, it takes a bit of persuasion to do this. You can't just write yo

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

ur company name, what you do and your URL. You'd be better off spending your money on Google Adwords.

No point in paying for colour either, in my opinion. I've tested both. You may, yes, receive a

.

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

slightly higher response because of colour. But the cost is often four times that of black and white. You'd be better putting that money into printing four times as many cards (and thus quad

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

Companies that provide selfless information through particip

rupling your response).

Of course, make sure you have a good mailing list. If you're selling ballet lessons, don't be sending your postcard to the local football coach–it's going to be a hard sale

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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Unemployment is not the problem in today’s market; the problem is lack of people who are well equipped with practical knowledge & skills and having pure theoretical knowledge. For a person to be successful it is necessary to be both theoretically and practically sound.

It is often said that it is not who you know that matters, it is who knows you. Well I would like to extend this statement by saying that it is not only who you know and who knows you, but how well do you know them and they you?

If you're in any type of business that does prospecting or pursuing clients, your best chance for making money is to avoid this marketing mistake I had to learn the hard way.

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Advice You - The Problem With Pay-Per-Click

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