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Just Other Articles - Do Your Adverts Get You More Sales?
Philadelphia retailer and US Postmaster General, John Wanamaker, once said, "Half the money I spend on advertising is wasted; the trouble is I don't know which half."
If you’re spending $10,000 a month on advertising $5,000 is going straight down the tubes. That wastes $60,000 of your hard ear
If you’re spending $10,000 a month on advertising $5,000 is going straight down the tubes. That wastes $60,000 of your hard ear
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
ned cash every year. Money you could spend on better, more focused marketing.
Imagine if you could work out which half works and spend only on that half. The good news is you can. All will become clear in a little while.
In the meantime let me explain how advertising works.
Broadly there ar
Imagine if you could work out which half works and spend only on that half. The good news is you can. All will become clear in a little while.
In the meantime let me explain how advertising works.
Broadly there ar
; 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
two types of advertising. One is Branding and Positioning (BAP) and the other is Direct Response (DR) advertising.
Branding and Position concentrates on getting the company’s name, or service or product continually at the forefront of its customer’s minds. As you can imagine this needs contin
Branding and Position concentrates on getting the company’s name, or service or product continually at the forefront of its customer’s minds. As you can imagine this needs contin
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
al advertising activity and can cost megabucks. Companies doing this type of advertising include Coca-Cola, British Airways, Nike and MacDonald’s.
These are all major companies and everyone already knows their name and what they stand for.
Why do they do it?
The simple answer is that they’re
These are all major companies and everyone already knows their name and what they stand for.
Why do they do it?
The simple answer is that they’re
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
in a highly competitive market. They want to retain their large market share by ensuring that the most recent ad a prospect remembers is for their service or product. So when they’re thirsty it’s a Coke. If they’re hungry it’s a Big Mac if they want to fly they choose the World’s favourite airl
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ne.
Picture the mountains of money that go towards that aim. But picture too the accountants horror – they don’t know which campaign makes a profit.
Profit is the one thing that tells you if your campaign is working. If you know your ad makes more revenue than it costs to create, run and serv
Picture the mountains of money that go towards that aim. But picture too the accountants horror – they don’t know which campaign makes a profit.
Profit is the one thing that tells you if your campaign is working. If you know your ad makes more revenue than it costs to create, run and serv
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
ce you’d keep running it wouldn’t you?
Unfortunately Branding and Positioning (BAP) advertising can’t be evaluated. You just don’t know whether it’s worth doing or not. How do you know which advert finally persuaded your prospect to do business with you.
Interestingly Bill Bernbach one of the
Unfortunately Branding and Positioning (BAP) advertising can’t be evaluated. You just don’t know whether it’s worth doing or not. How do you know which advert finally persuaded your prospect to do business with you.
Interestingly Bill Bernbach one of the
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
founders of modern advertising said that, “Advertising doesn't create a product advantage. It can only convey it."
So why bother doing BAP advertising?
Probably because advertising agencies are happy to use BAP advertising for almost any company. Any slowdown in sales can’t be attributed to t
So why bother doing BAP advertising?
Probably because advertising agencies are happy to use BAP advertising for almost any company. Any slowdown in sales can’t be attributed to t
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
eir adverts. Any increase is claimed to prove the advert is working.
In reality you don’t have a clue.
Former Canadian policeman turned fabulously paid copywriter John E. Kennedy coined the phrase, “advertising is salesmanship in print”.
Would you tell a salesman to go see a prospect and to
In reality you don’t have a clue.
Former Canadian policeman turned fabulously paid copywriter John E. Kennedy coined the phrase, “advertising is salesmanship in print”.
Would you tell a salesman to go see a prospect and to
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
trip customer oriented benefits from their presentation? Also would you tell them not to ask for the order? You’d be laughed at and if you insisted you’d probably go out of business and certainly lose your salesmen.
BAP advertising does exactly that to your customer.
In contrast Direct Respo
BAP advertising does exactly that to your customer.
In contrast Direct Respo
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
se (DR) advertising is able to directly relate a specific advert to an increase in sales. Or alternatively highlight a problem ad that needs fixing.
This type of advertising seeks to inform the prospect as to how your product or service improves their life, rights a wrong or smoothes a problem
This type of advertising seeks to inform the prospect as to how your product or service improves their life, rights a wrong or smoothes a problem
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
. Additionally, DR advertising almost always asks for a response. Either to call in to buy immediately (unusual), to get a free sample, free report, free voucher, free experience or other intermediary step before buying the target product.
Imagine the calls, letters and emails you can get from
Imagine the calls, letters and emails you can get from
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
advertising that encourage your prospects to take action to contact your company immediately. You get to see whether the campaign is working. That means you can step in and tweak it if it’s not.
But it also allows you to test different aspects of your advert to try and increase response furthe
But it also allows you to test different aspects of your advert to try and increase response furthe
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
. So for instance you could run two adverts with the headline changed on one, or a different offer on one or a free-phone number against a geographic number.
You can see how every single word and picture in your advert performs. Doesn’t that just feel better? You’ve control over your spend and
You can see how every single word and picture in your advert performs. Doesn’t that just feel better? You’ve control over your spend and
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
the customers who are bought for your advertising dollar.
There are many people who would agree that DR advertising is the right way to advertise. But they still don’t do it.
Why?
Usually the reason is simply one of ego. Direct Response adverts don’t tend to be pretty or to win the Cannes Ad
There are many people who would agree that DR advertising is the right way to advertise. But they still don’t do it.
Why?
Usually the reason is simply one of ego. Direct Response adverts don’t tend to be pretty or to win the Cannes Ad
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
ertising Lions awards. If you’re the head of the company or you’re the director of sales imagine how tempting it is top run ads that might win awards…
You already have sales coming in. Running a BAP advert will still get sales coming in. And you might win that Lion at the Cannes awards for bes
You already have sales coming in. Running a BAP advert will still get sales coming in. And you might win that Lion at the Cannes awards for bes
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
advertising.
You’re fooling yourself if you think it’s for any other reason. Because almost without exception Direct Response adverts will pull more sales than BAP adverts.
Yet many advertisers don’t realise it. They’re convinced that an advert has to look “professional” to sell. WRONG!
Do
You’re fooling yourself if you think it’s for any other reason. Because almost without exception Direct Response adverts will pull more sales than BAP adverts.
Yet many advertisers don’t realise it. They’re convinced that an advert has to look “professional” to sell. WRONG!
Do
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ou want more sales?
If you do, and I’m sure you do use the following steps:
Step 1: Learn how your products relate to your users. Which emotions, feelings and beliefs does it generate or speak to?
Step 2: Assess the best way to convey that to your ultimate user.
Step 3: Do the newspapers/ma
If you do, and I’m sure you do use the following steps:
Step 1: Learn how your products relate to your users. Which emotions, feelings and beliefs does it generate or speak to?
Step 2: Assess the best way to convey that to your ultimate user.
Step 3: Do the newspapers/ma
.
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
azines/radio/tv channels you’ve chosen to advertise in get read by your preferred prospects?
Step 4: Check and test each ad with a single entry in your chosen media. (Do not run ad series until you’ve tested the pulling power)
Step 5: Buy the smallest display ad possible. Then each time it ma
Step 4: Check and test each ad with a single entry in your chosen media. (Do not run ad series until you’ve tested the pulling power)
Step 5: Buy the smallest display ad possible. Then each time it ma
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
es money buy the next size up until it starts to lose money. Then go back to the last one that made money - the optimum size.
Step 6: Continually run split tests to find the best pulling direct response for your product
Step 7: Use some of your advertising saved to buy other means of marketin
Step 6: Continually run split tests to find the best pulling direct response for your product
Step 7: Use some of your advertising saved to buy other means of marketin
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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