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Subjects - Gear Up Your Marketing for Fourth Quarter
The fourth quarter of each year presents a huge opportunity for many businesses. Consumers often spend more as they prepare for the holidays, and many businesses increase their spending in the fourth quarter as they prepare for the new year.
All of this can mean increased sales for you and me... but only if your market
All of this can mean increased sales for you and me... but only if your market
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
ing is effective.
So how do you get your marketing in shape? Simple. Set some goals for quarter and create a plan to take you there. The following is a list of some activities that you might want to include as part of your fourth quarter marketing efforts.
1. Plan
Create a detailed plan for the next 90 days t
So how do you get your marketing in shape? Simple. Set some goals for quarter and create a plan to take you there. The following is a list of some activities that you might want to include as part of your fourth quarter marketing efforts.
1. Plan
Create a detailed plan for the next 90 days t
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
at includes a huge push for increased sales. Set a sales target for the quarter, look at the work that you have already booked, and then plan where the extra sales you need to reach your target will come from.
What marketing activities can you do that will help get you there? What existing clients can you approach for add
What marketing activities can you do that will help get you there? What existing clients can you approach for add
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
tional work or referrals? How can you increase the size of your network so that more people know about your business and what you do? Make the plan as detailed as possible and then take daily action in executing it.
2. Review Your Website
Review your website and ensure that it is doing a good job of interesting an
2. Review Your Website
Review your website and ensure that it is doing a good job of interesting an
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
educating your prospects about your services. Be sure to stress the benefits of your services and give prospects plenty of reasons why they should do business with you rather than your competitors.
Your site should request that visitors leave their contact information. This can be done by having them sign up for a newsle
Your site should request that visitors leave their contact information. This can be done by having them sign up for a newsle
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ter, request more information, or arrange a free consultation. You can increase response by offering an incentive, such as a free report or a discount. If your website doesn't ask for this vital information, then make some changes to it so that it does.
3. Write Articles
Write several articles on topics related to
3. Write Articles
Write several articles on topics related to
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
your product or service. The articles should contain tips or advice that your target market will find useful and that will help them solve their problems. Post the articles on your website and get them published on other websites and in journals that your prospects read.
4. Publish a Newsletter
Start sending out
4. Publish a Newsletter
Start sending out
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
n ezine or newsletter to your clients and contacts. Include a signup form on your website and offer an incentive for visitors to subscribe, such as the articles you wrote in step 3. Use the ezine to provide more help, education, and how-to advice to your prospects.
5. Speak
Get a speaking engagement at an event th
5. Speak
Get a speaking engagement at an event th
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
t your prospects are likely to attend. Make the talk informative and pack it with as much valuable information as you can. Do not make it an extended sales pitch! Mention the services your company provides by all means, but make sure that you also provide plenty of relevant and useful information to the audience.
During t
During t
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
e talk, be sure to promote your newsletter and the articles that are available on your website. Be sure to get the contact information of as many of the attendees' as possible.
If you don't already have their contact information, a good way of getting it is to offer a bonus item that can be mailed out to attendees afterwa
If you don't already have their contact information, a good way of getting it is to offer a bonus item that can be mailed out to attendees afterwa
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ds, such as a recording or transcript of the presentation, or another article or in-depth report. In order for the attendees to get the bonus item, have them leave you their contact information on a signup form or have them give you their business card. It's important to solicit this information immediately after the talk.
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
If you refer them to your website to signup, the response rate will drop significantly.
6. Advertise
You should review your advertising and ensure that is cost-effectively driving a steady stream of prospects to your door. If you don't already advertise regularly, now would be a great time to start.
Begin with s
6. Advertise
You should review your advertising and ensure that is cost-effectively driving a steady stream of prospects to your door. If you don't already advertise regularly, now would be a great time to start.
Begin with s
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
me small advertisements in publications that your prospects read, and test what works. If the response to your ad is encouraging you can increase its size. If the response is poor, make some changes to it and try again.
Conduct a direct mail campaign that educates your prospects on the services you provide. Provide as muc
Conduct a direct mail campaign that educates your prospects on the services you provide. Provide as muc
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
information as possible and don't make the material overly "salesy" or it will be ignored. You might consider promoting your newsletter in this way as an easy, low-risk way for prospects to get to know your business. The bottom line with direct mail is to be informative and focused on the benefits that your prospects rece
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
ve. Follow up the direct mail campaign with phone calls or even a visit to the prospect.
7. Utilize Your Current Clients
Study your current clients and look for ways that you can provide additional services to them. Look specifically for ways that you can really help them develop their business. Ask them for refer
7. Utilize Your Current Clients
Study your current clients and look for ways that you can provide additional services to them. Look specifically for ways that you can really help them develop their business. Ask them for refer
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
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
als.
8. Network
Meet with people in your network and exchange referrals. Generate some business for them and educate them on the types of prospects you're looking for. You'll be amazed at how quickly they'll be able to come up with names of people you should speak to, especially after you've helped them.
9. Of
8. Network
Meet with people in your network and exchange referrals. Generate some business for them and educate them on the types of prospects you're looking for. You'll be amazed at how quickly they'll be able to come up with names of people you should speak to, especially after you've helped them.
9. Of
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
fer Additional Payment Options
Offer flexible payment options such as payment by credit card or payment by installment. Sales can often increase by as much a 30% simply by being a little bit more flexible in the way you get paid for your services. If it's appropriate to your business, try offering free samples of your
Offer flexible payment options such as payment by credit card or payment by installment. Sales can often increase by as much a 30% simply by being a little bit more flexible in the way you get paid for your services. If it's appropriate to your business, try offering free samples of your
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
products, free trials of services, or a no-risk "test-drive" period.
10. Community Involvement
Get involved in your community by volunteering to help in local events. You could serve on the board of a charity, help organize a special event, or donate your business' services to a worthy cause. If time is in short s
10. Community Involvement
Get involved in your community by volunteering to help in local events. You could serve on the board of a charity, help organize a special event, or donate your business' services to a worthy cause. If time is in short s
.
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
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
pply (and what business owner has an abundance of time?) then be highly selective in the ways you get involved and choose only those activities that get you in front of influential people and decision makers.
Gear Up Today!
There you have it: ten ways to ramp up sales for the fourth quarter!
Get started on this i
Gear Up Today!
There you have it: ten ways to ramp up sales for the fourth quarter!
Get started on this i
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
mediately. At the very least, complete a plan for your marketing within the next week. You don't have to do everything outlined above, but you should pick at least a couple of activities and take action this week.
The fourth quarter can be a great time for sales, but you have to be prepared. That means getting started now
The fourth quarter can be a great time for sales, but you have to be prepared. That means getting started now
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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