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The Power Of Leveraging

Let's talk about strategic marketing and how it relates to the medical staffing industry.

How can a medical staffing agency create an environment to promote a strategic marketing effort from its staff to increase productivity and profit? The strategic marketing e

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

ffort needs to transcend old habitual routines. The strategy within the power of leveraging will produce more profitable and larger results than otherwise would. What are the drivers, the path and the basic formulation to begin the power of leveraging to take hold the strategic marketing

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

Examples of combination products may in

effort?

Let’s take a journey to illustrate this very important question. Because the question above will be the difference between growing your medical staffing organization verses your organization dying a horrible death.

I have identified and refined these drivers using my experience

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

, actual field research, and the great canons in the field of business growth.

Lets take a look at the primary driver, and let’s examine how this driver directly relates to the medical staffing business.

STRATEGIC MARKETING

It is amazing how many medical staffing agencies are unaware of

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

the power of leverage marketing within this environment. It is so simple, yet so unwisely used. The cost is fixed within your effort, expense, time and opportunity costs.

How? A recruiter or a business development representative (In many cases it’s the same person) whether he or she se

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

Combination pro

cures one appointment or twenty a day, It will cost you the same fixed amount. The same fixed amount maintains itself regardless if you or your staff secures one contract or ten a day. The fixed amount stays the same if you secure four new accounts or five a month.

The opportunity cost,

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

effort and expense to place an ad or walk into a hospital whether you secure one account or ten are the same. If you close a new account 10% of the time or 50% of the time the fixed costs are the same. If the contract you secure produces $2,000 a year or $200,000 the initial fixed costs

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

are the same for the new account.

Your costs are the same within your effort, expense and time to run a mailing campaign that may produce 0.5% response or 6% response. It costs you the same to attend trade shows or visit colleges to recruit new candidates whether they convert 2% or 20%.

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

The fixed costs are the same whether you spend $10,000 on your marketing budget to attract 5 clients or 500 clients. The costs are the same to secure new contracts whether you close 1, 5 or 10 out of 100.

I think you get the idea of what I am talking about. Being able to strategically

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

leverage yourself to pull in more per effort spent will increase profitability. The power of leveraging ideally allows you to pull in 1 out of 3 instead 1 out of 20 new accounts. This can dramatically increase the bottom line. The power of leveraging allows you to transform an account f

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

rom $1,000 a week to $3,000 a week. Getting contracts to increase the number of placements from one shift to three a month. If you can get customers that were not referring anyone to you begin referring five new customers a year is a strategic marketing leverage that will increase growth

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

Following aspects would a

substantially. This is the power of strategic marketing for medical staffing agencies.

You must recognize and respect the power of strategic marketing and the role it will play in the success of your medical staffing agency.

How do you form a strategic marketing plan?

Create an interna

dd to the challenges in developing combination products:

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

l analysis of your current marketing efforts. Make sure to identify all the activities, processes and tasks, and then determine the best avenue to improve upon them. Lets examine how you go about finding them.

1. Find the recruiter or business development representative that has achieve

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

d better results than anyone else. If it is you, then identify the areas you have excelled on. Create a modeling effect on those individuals. Apply those skills to everyone in your organization and make sure everyone understands the importance of this new avenue. Write the processes do

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

wn and use as a blueprint. Don’t horde the information for fear of people stealing your methodology.

2. Find other staffing companies within the same field who have shown success and are better at doing what they do than you. Borrow their success and make it your own.

3. Benchmarking:

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

Go outside your industry, find companies that have proved to be great in there area of expertise. Look at their business practices; how the people interact with clients, what makes them successful. Uncover and refine there business practices, what makes there ads so great? How do they se

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

Professional from academic institutions, pharmaceutical industries, health care indust

cure appointments? How do they close a deal? What is there presentation style?

You can then adapt, use and apply those processes to your medical staffing agency on a regular basis. Make it a common practice to continually do what works, review what you are doing then make sure it is stil

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

l working. Review what you are doing and determine what can be added to the strategic marketing plan to leverage your actions. Eliminate the under performing activities and increase the activities that produce the higher returns.

Using the strategic approach to marketing and leveraging

.

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

your actions will allow your medical staffing agency to grow faster, more effectively and with less effort on your part. The number of clients will grow along with the amount charged per client. The key to generating leveraged revenue lies within the power of strategic marketing.

Recog

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

Companies that provide selfless information through particip

nizing that Strategic Marketing is one of the most important facets of growing your business will allow you to reach upside potential. There are 9 other drivers that relate to the growth, profitability and competitive superiority within Strategic Marketing for your Medical Staffing Agency

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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