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Marketing to the customers you already have!

Here are a few questions to ask your business and tips to make it better:

1) How many times do your customer

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

s do business with you in a week/month/year?

Customer frequency is even more important than getting new customers! That’s right. I said it…the very thing

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

Examples of combination products may in

you may be focused on should not be your primary focus. Calm down…I didn’t say remove your focus.

Take an auto shop for instance…most shop owners who I have spoken with over 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 years are always asking me “Joe, how do I increase customer/car count?” when the better question is “Joe, how do I make each of my customers/cars count?”

My

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

answer to that, and this applies to any business, is to put in place a program or series of programs with focus on retaining customers, or welcoming back old o

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

Combination pro

nes. For example, you may implement a type of VIP Membership program for customers who have done regular business with you. To gain membership, a customer could meet criteria th

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

at you have set (i.e. sales dollars, number of months a regular customer, etc…). In some businesses and markets, customers would be willing to pay for such a membership.

Make s

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

ure your program includes an element to give the customer something as a member of your VIP program. As humans, status means a lot. Having a frameable certificate or a membershi

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

p card is important to the success of this program. Also, be sure to include benefits that “ordinary customers” do not get. Discounts, access to professionals in your company, a

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

free newsletter, and other items to make membership a percieved value to your customer.

2) Do you have more to offer each customer?

Single product sales are tough.

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

f all you have to offer a customer is a single product or service…an easy answer is develop a series of reports or cd study courses within your field of expertise. This will giv

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

Following aspects would a

e you more opportunities to sell something to the same customers that you have already “warmed up” to your company. You will find a higher Return On Investment

dd to the challenges in developing combination products:

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

(ROI) on your marketing dollar with your current customer base than you will marketing for a “fresh” customer. Which leads me to the final question for this month’s tip…

3)

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

m>How are you allocating your marketing budget?

For newer companies with less established customer bases…this one is tough…but as you continue to add customers to your da

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

tabase, you need to devote more and more of your marketing budget to re-marketing to your current customers. Do you necessarily need to sell them product? Nope

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

. You can solicit referrals, getting the easiest business possible from your easiest source of new business possible. Be sure to include an incentive that motivates your custome

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

Professional from academic institutions, pharmaceutical industries, health care indust

rs to refer business. This could be as simple as a thank you letter, or as complex as a report that adds value to the referring customer’s business or life. You can also survey

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

them, and find out what they think of you and your business. I know that sometimes we don’t want the brutally honest information, but we need to hear it so we don’t lose custome

.

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

rs! Offer them a free report or other giveaway that has value for taking this survey. It will make marketing for new customers a whole lot easier.

Your budget should be evenly

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

Companies that provide selfless information through particip

distributed between sourcing new customers, and retaining/re-marketing to your current customer base. If you don’t sell something to your current customers, your competitor will

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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There are various call centers and it is often confusing to choose an efficient and effective call center. A thriving call center's services are analyzed by the quality of operation. A call center must have outstanding management to be recognized and counted as a reliable source. It should be able to meet the requirements of the customers and prove a worthwhile option to marketing and recovery.

Marketing affects the sales and operations of any business. These three marketing mistakes can kill a business.

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