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Just Other Articles - Hiring A PR Agency - A Headhunter's View
Since so much has been written about how to go about finding a PR agency, I thought it timely to examine the process from my perspective - a consultant who is also a PR headhunter.
Throughout the U.S. there are thousands of PR firms of all sizes who claim to specialize in dozens
Throughout the U.S. there are thousands of PR firms of all sizes who claim to specialize in dozens
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
of different specialty categories.
As the person designated within your company to identify and hire a PR firm, where do you start? What do you look for? How much should you pay? What characteristics of the PR firm differentiates it from others - and are those differences impor
As the person designated within your company to identify and hire a PR firm, where do you start? What do you look for? How much should you pay? What characteristics of the PR firm differentiates it from others - and are those differences impor
; 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
ant to your company? What size firm should you hire? What about account conflicts? Is the firm's location important? Who's going to work on your business? What about performance and results? What should you reasonably expect and how do you measure success?
These are only some of
These are only some of
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
the questions that will undoubtedly arise in your quest to hire a firm.
From my experience, all of these questions should be asked and answered before signing on with a PR firm. However, the real issues that become important should be evaluated within the context of your compan
From my experience, all of these questions should be asked and answered before signing on with a PR firm. However, the real issues that become important should be evaluated within the context of your compan
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
's needs and goals. Chances are the answers will fall somewhere in the proverbial gray area.
Going solo Should you decide to identify a PR firm on your own, there are many reference materials available which can help you quantify the players. However, without the tools and the
Going solo Should you decide to identify a PR firm on your own, there are many reference materials available which can help you quantify the players. However, without the tools and the
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
inside knowledge of how PR firms work and which will work best for your company, the task can be difficult to qualify.
Many solo searchers rely on references from colleagues, industry sources and the like to help them target a group of likely PR firms. The tough part however, i
Many solo searchers rely on references from colleagues, industry sources and the like to help them target a group of likely PR firms. The tough part however, i
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
evaluating the relationship between members of your company and the PR firm. Additionally, not every PR agency is listed and quantified in every directory. New ones are popping up all the time and others are merging, being acquired or just fading away. When working with a limite
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
d knowledge-base, evaluation can become problematic.
The key to any successful PR agency search lies in the depth of the research expended. The greater amount of time spent researching the agency, its people, culture, working style, etc., the better chance you have of bringing h
The key to any successful PR agency search lies in the depth of the research expended. The greater amount of time spent researching the agency, its people, culture, working style, etc., the better chance you have of bringing h
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
me a winner. Also, it's easy to be distracted by fancy promotion and lose sight of the agency's key elements.
Sometimes the identification of a winning PR firm can be a slam-dunk. More often, it can be like nailing Jello to a tree.
Slam-dunk If your company produces a highly
Sometimes the identification of a winning PR firm can be a slam-dunk. More often, it can be like nailing Jello to a tree.
Slam-dunk If your company produces a highly
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
specialized or technical product, chances are there will only be a few PR firms that will fill the bill. Whether it's engineering, biotechnology or baby toys, your choices will be limited. Add to that the numerous other specifications that you will invariably want to see in your
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ew PR firm.
It's a slam-dunk if your product or service touches on issues such as abortion, guns or smoking. Options will be limited if your PR budget is unusually small or restricted, or if when your PR program is narrowly focused on, say, major mentions in key business publica
It's a slam-dunk if your product or service touches on issues such as abortion, guns or smoking. Options will be limited if your PR budget is unusually small or restricted, or if when your PR program is narrowly focused on, say, major mentions in key business publica
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
ions, or, interviews for your CEO with major network media.
It's probably a good idea to go solo when the budget is small, the PR program is limited and targeted to a highly technical audience or, when the agency's geographic location(s) is restricted. Of course, if management's
It's probably a good idea to go solo when the budget is small, the PR program is limited and targeted to a highly technical audience or, when the agency's geographic location(s) is restricted. Of course, if management's
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
view of PR is archaic or unrealistic, then the chance of a successful agency union is rather slim under any circumstances.
Not so fast In my PR agency identification experience, the two most difficult parts of evaluating an agency are costs, (both actual and projected), and t
Not so fast In my PR agency identification experience, the two most difficult parts of evaluating an agency are costs, (both actual and projected), and t
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
am identification and evaluation. Each tend to resemble a moving target that's hard to keep in your sights for too long.
As a general rule, PR agencies don't advertise their fees for services they perform. They tend to promote their expertise and experience in the business of PR
As a general rule, PR agencies don't advertise their fees for services they perform. They tend to promote their expertise and experience in the business of PR
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
and then charge you based on the size of your budget. By knowing that beforehand, they can tailor their services to your specific needs and stay within your budget - or, so you would hope.
However, clients often complain that their agency goes over budget. This is especially tr
However, clients often complain that their agency goes over budget. This is especially tr
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
e during economic boom times. The firms usually argue that you, the client, have either implicitly approved of the extra work that was done on your behalf, or, that circumstances mandated that your account be "over-serviced." The budget and over-service issues are less pronounced
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
when business and the economy is slow.
As any other business, agencies must stay profitable. Just like management consultants or lawyers, PR people parcel out their expertise in the form of hourly charges. Whether you're paying a "flat monthly retainer" or hourly for services r
As any other business, agencies must stay profitable. Just like management consultants or lawyers, PR people parcel out their expertise in the form of hourly charges. Whether you're paying a "flat monthly retainer" or hourly for services r
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ndered, the agency will calculate the time spent working on your behalf in increments of hours to remain within profitable guidelines. Agency client management employees usually have an "hourly rate" that is levied against the time they spend on behalf of their client. That rate
.
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
is usually a function of the employee's title. Obviously, the higher the title, the higher the rate.
Sounds pretty straightforward, right? Well, not so fast. There are many variables that impact this rather neat little picture. Variables such as employee promotions, employee tit
Sounds pretty straightforward, right? Well, not so fast. There are many variables that impact this rather neat little picture. Variables such as employee promotions, employee tit
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
e inflation, freelance consultants, the changing nature of your account, fee increases, out-of-pocket expenses, economic inflation or recession, conflicting accounts that pay higher fees, result measurement, client vs. agency expectations, irreconcilable differences and much more
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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