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No matter what business you are in, one of the best (and most overlooked) sources of quality sales leads is referrals. Just to be sure we are on the same page, let’s define a referral as an introduction to a potential prospect that is made by someone the prospect <

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

b>KNOWS and RESPECTS.

Respect is a very important issue when gauging the quality of a referral. The more respect the person being referred has for the person who is making the referral, the greater the likelihood the person being referred will make the

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

Examples of combination products may in

time to have a MEANINGFUL conversation with you.

Why are referrals such a great source of sales leads?

Think about it – what could be better than a respected businessperson bragging about the quality of your products, services, and/or customer servi

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

e to their equally well-respected friends and associates? Do you think this kind of input might jump-start some sales cycles? Plus, which is more fun (and profitable): working with prospects who already think favorably of you and your company, or trying to get the

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

attention of people who have no idea who you are, what you do, or the level of service that you provide?

This brings up a very important point, which is that all referrals are NOT created equal! Here are four categories of referrals, ranging from MOST
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro
effective to LEAST effective:

1. Live, In-Person Introduction

This is when your contact walks you over to a potential prospect and makes a live, in-person introduction. Ideally, the introduction includes a glowing testimonial about you, your
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
products or services, and your company.

2. Live Telephone Introduction

If time or circumstances do not permit a live, in-person introduction (for example, your contact and the prospect work in different facilities), the next best option is a live telephon
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
introduction. This can be a conference call or a call from a speakerphone in your contact's office. Your contact may participate in the entire conversation, or they may leave the call after making introductions.

3. Electronic Introduction

If you ca
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
nnot arrange for a live in-person or telephone introduction, the next best option is for your contact to speak with, leave a voice mail for, or send an e-mail to the prospect PRIOR to you contacting them. When you make your introductory call, be sure to ment
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
on that "(Name) recently contacted you to introduce me and explain why he/she thinks it would be a good idea for us to get together."

4. Authorized Name Dropping

The least effective referral is when your contact gives you a prospect's name and phone
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
number and permission to mention their name when you call the prospect. This is certainly "warmer" than a cold call, but it is not as effective as the other types of referrals.

Why do we overlook referrals?

Like many of the activities involved in selling,
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a
asking for referrals requires a little practice before it feels comfortable. It is not difficult to ask for referrals (“Hey, Bob, who do you know - friends, family, or business associates - who might benefit from the things we have been discussing?”). But, you
dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod
eed to make a CONSCIOUS EFFORT if you are going to ask for referrals as frequently as you should. Once you get in the habit of asking for referrals, it just rolls off your tongue naturally.

How do you earn referrals?

The absolute best way to earn refer
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
rals is by providing great service to your customers. It is also helpful if you set an expectation right up front that referrals are one of your preferred rewards for providing exceptional service.

When should you ask for referrals?

When you
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
o a favor for a customer, ask for referrals. When a customer places an order, ask for referrals. If a customer comments they are happy with something that you or your company did, ask for referrals. When you help a customer solve a problem, ask for referrals.

C
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
ustomers are not the only source of referrals. Anyone you speak with is a potential source of referrals. If you feel you have built credibility with someone, or they seem interested in what you do, do not hesitate to ask them for referrals.

Conclusion

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

Professional from academic institutions, pharmaceutical industries, health care indust
eferrals can be one of the most productive and profitable lead sources available to salespeople. However, it takes some practice to get comfortable asking for referrals. Plus, there are different kinds of referrals that produce different levels of results.

If you
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
want maximize the positive impact of referrals on your sales opportunity pipeline, follow these steps:

1. Practice what you are going to say when asking for referrals until it rolls off your tongue naturally.

2. Hold yourself accountable for asking for referrals
.

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
t EVERY opportunity. If you realize you forgot to ask for referrals during a specific meeting or phone call, no problem – call your contact back as soon as possible and ask for referrals!

3. Keep in mind that not all referrals are created equal! When you as
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip
k for referrals, always ask for in-person introductions first. If your contact can’t arrange an in-person introduction, work your way down the list of referral types from most effective to least effective.

Best wishes for sales success!

Copyright 2005 -- Alan Rig

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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