Subjects - Business

The Dreaded SLBH If you're like most exhibitors, your first day back in the office after a trade show contains a myriad of competing priorities. Messages from current clients who nee

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

d you beckon, the list of daily to-do's has piled up for several days, and business-as-usual marches on. Now's the time NOT to let the trade show leads that you worked so hard to get (not to

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

Examples of combination products may in

mention spent so much money getting!) fall into the infamous SLBH – the Sales Lead Black Hole.

What is the Sales Lead Black Hole? It's where 80% of all trade show sales leads end up…it's t

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

he no-follow-up-zone…it's lost sales…it's lost trade show investment…it's a crying shame! But it's a hard, cold fact. Why? Because most companies don't make as much of a post-show commitment

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

as they did a pre-show commitment. The first step in avoiding the SLBH is to Organize & Prioritize.

Organize & Prioritize Ok – so you have competing priorities on day one back at t

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

Combination pro

he office. Take a few minutes to evaluate those priorities, and organize them for follow-up. Take care of emergencies and current client urgent requests first – your current clients should 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

lways come before prospects.

Once that is done, your next order of business should be to sort your trade show leads, and follow-up with your "hot" or "A" leads right away. You

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

hot leads should be followed up within one or two days of show close. Any more time, and you risk that lead forgetting they even met you! These follow-ups should be by phone (unless they h

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

ave requested otherwise).

How to Follow-Up Hot Leads - During the show, you no doubt took copious notes on those lead forms – your handwriting is legible, and you know exactl

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

y what this hot lead needs (right?). If you did, you will know exactly how to follow up – your notes may say "Call on Tuesday – needs immediate help with X", or "Send new product brochure an

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

d pricing." If you didn't, shame on you because the probability of a sale just went down, but all is not completely lost. For all of those sketchily detailed hot leads, your best bet is to r

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

Following aspects would a

e-connect by phone. Re-qualify the lead, gauge the interest level, and rank the probability of a sale. Then take those copious notes you forgot to take at the show, and follow up accordingly

dd to the challenges in developing combination products:

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

.

Warm and Cold Leads - After you make your way through the hot leads, don't forget about your other leads – those not-so-hot leads – they are still potential clients! Follow-up with

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

them within one week of the show, either by phone, mail or e-mail. Keep them in your system and stay in touch with them throughout the year. You never know when a circumstance will quickly

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

ove a cold lead to a hot lead!

Follow-Up Your Follow-Up Your sales team is generally the first line of follow-up post-show. They may partner with marketing communications to send ma

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

terials, but the initial contact should be personal, and with the intent of an appointment, a presentation or placing an order. This may be the first time this hot lead hears from you, but i

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

Professional from academic institutions, pharmaceutical industries, health care indust

t should by no means be the last.

Any contact that results in an appointment, a presentation or an order will remain with the sales team, but for those that don't, for heaven's sake, don't

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

throw them away! If your sales team has the time to continue to work these leads, great, but often times they do not, and that's ok. These leads should then be handed off to your marketing t

.

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

eam for continued follow up. Add them to your mailing list, your e-mail list, your holiday cards list – whatever means of consistent communication your company does. Even though these prospe

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

Companies that provide selfless information through particip

cts have not purchased yet, they should still be considered good potential clients – they know about your company, your products, and they have had some sort of face-to-face contact with you

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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