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Just Other Articles - Closing the Loop: Integration Strategies for Marketing and Sales
It’s Business 101: Marketing and Sales are the two forces that drive business; whether it’s a small one-person operation or a global corporation, these are the two distinct channels of reaching customer and prospects. Or at least that’s the traditional thinking…
The problem is that this traditional approach creates a rift between two forces that should be working together. Sale
The problem is that this traditional approach creates a rift between two forces that should be working together. Sale
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 often thrives on relationships that may or may not be beneficial to the companies overall growth goals. Marketing, on the other hand, may be producing leads but doing very little to close sales faster or help enhance already existing relationships. Integrating the tactics of these two traditionally separate elements into an Integrated Initiative can grow your share in the mark
; 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
ts you need to grow in and close sales faster.
The good news is that creating an Integrated Initiative can be done from almost any level of an organization and in tandem with strategic partners such as design partners, advertising channels, and lead tracking mechanisms. In closing the loop between sales and marketing, there are some key strategies that help make the transition s
The good news is that creating an Integrated Initiative can be done from almost any level of an organization and in tandem with strategic partners such as design partners, advertising channels, and lead tracking mechanisms. In closing the loop between sales and marketing, there are some key strategies that help make the transition s
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
uccessfully.
Recipe for Better ROI An Integrated Initiative redefines ROI by applying marketing and sales tactics together in a coordinated effort to reach goals in specific markets. Here’s an example:
Let’s say your company has a new product release next quarter and an ad has been created for the launch. A traditional definition of ROI compares the cost of creating and placi
Recipe for Better ROI An Integrated Initiative redefines ROI by applying marketing and sales tactics together in a coordinated effort to reach goals in specific markets. Here’s an example:
Let’s say your company has a new product release next quarter and an ad has been created for the launch. A traditional definition of ROI compares the cost of creating and placi
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
g the ad to the sales generated. If you sold more than it cost – you had a good ROI. This is an important benchmark, but let’s look how an Integrated Initiative redefines it.
In our hypothetical Integrated Initiative, the ad doesn’t just sit passively in a magazine. It becomes part of the sales cycle. Reprints of the ad are used in direct mail pieces personalized from each me
In our hypothetical Integrated Initiative, the ad doesn’t just sit passively in a magazine. It becomes part of the sales cycle. Reprints of the ad are used in direct mail pieces personalized from each me
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
mber of the sales force to prospects in their territories. A press release previews the product in a wider range of trade media. That press release is sent to current customers in a preview email offering them special pricing or incentives. A unique URL is created incorporating the advertisement and the press release. Customer testimonials for related products can also be post
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
d on the site. Downloads from the site can be tracked and again fed to sales. All of these materials are also provided to the sales force for leave-behinds and tradeshow handouts. Powerpoint slides also would be created to drop into presentations.
In other words, an Integrated Initiative is a coordinated push to garner more leads, continue ongoing relationships, close sales fas
In other words, an Integrated Initiative is a coordinated push to garner more leads, continue ongoing relationships, close sales fas
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
ter, and increase sales volume in the right markets. ROI is measured not just in how well the ad worked for you, but how well you worked the ad message through every possible channel of communication with your customers and prospects.
One of my clients recently told me that, through conversations with salespeople, he learned customers often refer favorably to a customer story t
One of my clients recently told me that, through conversations with salespeople, he learned customers often refer favorably to a customer story t
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
at appeared in a trade publication. That’s a rare compliment in this business and I’ll take it — but not without asking: “How many of your salespeople are talking favorably to your customers about that article? Are they using reprints to build relationships? Can they mail out reprints to hot prospects to help close sales?” My client simply was looking at the quantified resul
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
ts – customers liked the article. He wasn’t considering that his sales force might be able to add to the momentum of this positive feedback. (By the way, we did use the article and an ad in a very successful direct mail campaign that garnered significant sales within days.)
Reaching thousands in an ad is very important, but ultimately it’s a single handshake that closes a sale.
Reaching thousands in an ad is very important, but ultimately it’s a single handshake that closes a sale.
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
Integrating advertising, marketing, and PR into the sales culture of your company backs them up both in decade-long relationships as well as initial cold calls. If a marketing message can be part of the process throughout that entire sales/marketing spectrum, increased sales will follow.
Diversify Your Toolbox Diversity is key to an Integrated Initiative. After all, if you’re
Diversify Your Toolbox Diversity is key to an Integrated Initiative. After all, if you’re
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
going to integrate the tools you’re using, diversifying those tools will simply give you more to work with and more opportunities to succeed.
Take advantage of new technologies to expand the tools at your disposal. For instance, you might be able to negotiate a print ad program that provides you with pdf’s of all ads and news that appears in a publication. The material cost is
Take advantage of new technologies to expand the tools at your disposal. For instance, you might be able to negotiate a print ad program that provides you with pdf’s of all ads and news that appears in a publication. The material cost is
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
little or nothing for the magazine, and it provides the sales force with an easily emailed piece to customers and prospects.
Another example is packaging editorial consultation with an advertising program. Advertising in a special issue focusing on a key market could warrant a conference between sales, marketing, and magazine editorial staff to preview the issue and offer perspe
Another example is packaging editorial consultation with an advertising program. Advertising in a special issue focusing on a key market could warrant a conference between sales, marketing, and magazine editorial staff to preview the issue and offer perspe
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
tives on that market. A direct mail piece to a select list of readers/customers for that issue with a letter from regional sales personnel further concentrates efforts to target markets and helps boost the advertising impact.
In this case, advertising, public relations, direct mail and sales are all part of a loop that will ultimately reach prospects from several different angle
In this case, advertising, public relations, direct mail and sales are all part of a loop that will ultimately reach prospects from several different angle
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
s. This in turn draws in leads and tightens sales cycles.
While these tools are not necessarily free, they are comparatively inexpensive. More importantly, they add significant value to elements that are already in place such as advertising and PR. Diversifying tactics is simply realizing the full value of core markets and sales tools that already exist.
Repetition Isn’t Alwa
While these tools are not necessarily free, they are comparatively inexpensive. More importantly, they add significant value to elements that are already in place such as advertising and PR. Diversifying tactics is simply realizing the full value of core markets and sales tools that already exist.
Repetition Isn’t Alwa
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
s Bad
Repetition is known to be a highly effective means of communication. It’s how we learn as children and it’s how we remember as adults. An integrated marketing program ensures that your message is penetrating markets with repetition. If you have a customer testimonial program, for instance, reference those customers in press releases, trade show literature, your web site,
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
industry speeches, annual reports, and ads. Even incorporate them as talking points in sales pitches and presentations.
Repetition such as this ensures that your message to market gains traction at every contact with customers and potential customers. Often, this is a simple, easily implemented element that can serve as a good first step to integrating a marketing program.
Cl
Repetition such as this ensures that your message to market gains traction at every contact with customers and potential customers. Often, this is a simple, easily implemented element that can serve as a good first step to integrating a marketing program.
Cl
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
se the Loop – Close Sales
Putting together an Integrated Initiative that intelligently closes the loop between marketing and sales harnesses the power of each and delivers results greater than the sum of its parts. More importantly, it refocuses the attention on the larger goal of strategic growth. Careful planning and execution are necessary (no one said it was easy to have ea
.
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
ch piece of an organization rethink its role) but the rewards can be an overall sales/marketing organization focused on the same set of priorities at the same time. In other words, by closing the loop, closes sales. And that’s good for everyone.
About ABI
Founded in 1980, ABI, Inc. specializes exclusively in business-to-business marketing public relations. ABI provides global
About ABI
Founded in 1980, ABI, Inc. specializes exclusively in business-to-business marketing public relations. ABI provides global
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
arket support services to companies in diverse industrial and technology market segments. Offices in New York, London, and Singapore provide rapid response to business and publicity opportunities for clients.
For more information on ABI please call James Krouse, Director ABI Europe at +44 207 031 4411 or visit http://www.abipr.com/
For more information on ABI please call James Krouse, Director ABI Europe at +44 207 031 4411 or visit http://www.abipr.com/
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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