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Before working with a new client on their marketing plan, I always ask them to review the sales generated for the previous year and they are often surprise

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 to see that their sales are supported in large part by repeat customers. On average, repeat customers contribute 60% of annual revenue to companies but m

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

Examples of combination products may in

arketing campaigns are often focused on getting new customers. Businesses spend $1 retaining clients for every $5 spent attracting new customers. Once you’

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

ve secured a new customer what are you doing to convert them to loyal customer? There are many tactics that make marketing to your repeats clients easy, af

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

ordable and effective---here are some that have worked for me.

Be Generous

Develop a loyalty program for frequent buyers. It can be as simple as o

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

Combination pro

ffering a special “friends only” discount, especially if yours is a highly price sensitive business. Maybe you offer, and get credit for, complimentary 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

ducts or services. Recently while dining in a wonderful and pricey restaurant, the owner personally selected and sent to our table a fabulous complimentary

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

dessert. Although the dinner was still very expensive, we felt quite special and will continue to be loyal customers.

Be Thoughtful

Send a handwri

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

tten note to every client at least once every six months. If you see their name in the press, send a note. If you see an article about their industry, send

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

it along with a note. Let them know you’re thinking of them, and be sure to include your business card.

Be Loyal

Be a good customer to your clien

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

s by using their services and products when possible. And be a good friend by referring others to your clients---you’ll probably see more referrals coming

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

Following aspects would a

your way, too. Some people join networking groups to increase word of mouth marketing but I’ve always found that supporting my clients through active refe

dd to the challenges in developing combination products:

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

rrals is a great way to stay connected. They always call to say thanks and I have another opportunity to touch base.

Be Consistent

Send a newslet

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

ter or e-letter on a regular basis. This is a great way to stay in touch with your current clients as well as pitch prospective customers. Clarity of messa

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

e and consistent production are important in getting credit with clients. If you don’t have someone on staff that can handle this, outsource it. Each issue

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

of our monthly newsletter generates calls and emails from our clients, and most importantly, we receive business. Bottom line, it works.

Be a Good Com

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

Professional from academic institutions, pharmaceutical industries, health care indust

municator

I’m amazed at how often our existing customers don’t know about new services that we offer. Most businesses continue to evolve but sometime

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

e forget to let existing clients know how our growth translates to new solutions and benefits for them. Last year when we launched a new service we develop

.

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

ed informational marketing materials and sent them only to companies we had worked with in the last five years but had been inactive for more than six mont

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

Companies that provide selfless information through particip

hs. The sales generated a healthy return on investment but the lesson we learned was more valuable…clients can’t buy if they don’t know what you’re selling

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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The interviewer hopes that YOU are the right person for the job. They are under pressure to fill the position so that they can get back to their own work. Therefore you are in a greater position of strength than you think. Concentrate on what you have to offer in the way of qualifications and experience instead of feeling intimidated.

Just as military intelligence works to give armies and generals an upper hand on the battlefield, business intelligence (BI) seeks to give CEOs and CIOs a tactical advantage in the business arena. Business intelligence is fundamentally concerned with transforming your organization's operational data into an accessible store of high-value information (called a data warehouse) and distributing the right information in the right way to the right people at the right time.

There are years when companies struggle to survive. Other years, it takes every ounce of effort just to maintain market position. Is it even worth exhibiting during these times? Do the results of participating in a trade show while your company’s in a lull phase justify the costs?.... Absolutely! In fact, it is precisely at these times when not participating could hurt your bottom line....

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