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Main Subject - Six Drivers of Customer Loyalty
Many well-known companies have famously fashioned mission, values and vision statements that claim they begin and end with their customers. Oh, but were it so in reality! Be this as it may, these carefully crafted proclamations are nevertheless informative and valuable because they se
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
rve to remind companies of their high calling and to help them measure how far away from their standards they’ve strayed.
In reviewing many of these iconic declarations I’ve discovered that six aspects of how an organization should view and treat its customers are usually mentioned. I
In reviewing many of these iconic declarations I’ve discovered that six aspects of how an organization should view and treat its customers are usually mentioned. I
; 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
believe that when all six of these drivers are consistently and thoughtfully implemented throughout a company, the financial bottom line increases because the operational bottom line of building caring and satisfying relationships with customers is effectively and creatively addressed.
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 best way to increase profitability is to increase customer loyalty to your organization because loyal customers spend more and cost less than new customers. Of course, when you do acquire new customers these drivers will serve to develop the quality of relationship with them that
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
will keep them loyal to you.
I have done a lot of coaching and consulting in the automotive industry over the years. It occurs to me that no matter what industry you’re in, you’re actually in the C.A.R. business. Everything you and your people do with, for and to the customer serves
I have done a lot of coaching and consulting in the automotive industry over the years. It occurs to me that no matter what industry you’re in, you’re actually in the C.A.R. business. Everything you and your people do with, for and to the customer serves
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
to create one of two types of relationships: awesome or awful. In other words, in every action and inaction you’re either Creating Awesome Relationships or Creating Awful Relationships. The “A” is the variable and is within your control to create and change.
Over the years, for a va
Over the years, for a va
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
riety of reasons, some justified but most unjustified, the car business has gotten a bad reputation. Keeping in mind that YOU are in the C.A.R. business, too, no matter what you do, what kind of relationships are you creating with your customers: awesome, awful or somewhere in the mun
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
ane and mediocre middle? One way or the other you are earning a reputation by what you do and don’t do for your customers. Your reputation is what your community as well as your customers think of when they think of you and your organization. When they think of you are they inspired
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
to return to you? With every interaction you’re giving your customers one of two things: a reason to come back or a reason to go elsewhere.
Here are the six drivers of customer loyalty:
1. Trust
• Customers want to be treated fairly and honestly without reservation or hesitation
•
Here are the six drivers of customer loyalty:
1. Trust
• Customers want to be treated fairly and honestly without reservation or hesitation
•
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
They desire friendly service in a stress-free environment
• Customers crave a pressure-free purchase experience; the central focus of conversation should be their interests, not the interests of the company or its personnel
• Customers like to do business with businesses who maintain
• Customers crave a pressure-free purchase experience; the central focus of conversation should be their interests, not the interests of the company or its personnel
• Customers like to do business with businesses who maintain
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
long-term employees
• Customers look forward to consistent and predictable patterns of employee behavior; if there are any surprises, they had better be ones that delight them, not disturb what they’ve come to expect
2. Caring Treatment
• Genuine concern for and appreciation of the c
• Customers look forward to consistent and predictable patterns of employee behavior; if there are any surprises, they had better be ones that delight them, not disturb what they’ve come to expect
2. Caring Treatment
• Genuine concern for and appreciation of the c
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
ustomer and his/her specific needs, desires and idiosyncrasies
• Exceeding customers’ expectations should always be strived for; this can only be done, however, when you know exactly what customers actually expect from you and your organization; when you know what they really want and
• Exceeding customers’ expectations should always be strived for; this can only be done, however, when you know exactly what customers actually expect from you and your organization; when you know what they really want and
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
need, that will usually be enough for most customers
3. Ongoing Contact
• Consistent contact that is personalized is highly valued by customers
• Such contacts in all forms (written, verbal, face-to-face) should be event-driven and value-added; anything that is not perceived as being
3. Ongoing Contact
• Consistent contact that is personalized is highly valued by customers
• Such contacts in all forms (written, verbal, face-to-face) should be event-driven and value-added; anything that is not perceived as being
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
value-added is perceived to be pressure-added
• The events that drive customer contacts should be primarily those occurring in their lives and not solely as a means to sell the company’s products and services; if the former is done regularly and is personalized, customers are more ope
• The events that drive customer contacts should be primarily those occurring in their lives and not solely as a means to sell the company’s products and services; if the former is done regularly and is personalized, customers are more ope
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
to and welcoming of any marketing messages from the company; consequently, advertising costs decline as revenues are enhanced
4. Ownership Benefits
• Customers who are loyal are fond of receiving special privileges; examples are frequency programs, access to areas of the facility tha
4. Ownership Benefits
• Customers who are loyal are fond of receiving special privileges; examples are frequency programs, access to areas of the facility tha
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
t are normally unavailable, exclusive lounges or meeting places, partnering opportunities with both for-profit and non-profit organizations, etc.
• Recognition of customers by name and genuine expressions of appreciation for their business is very important; recognizing loyal customers
• Recognition of customers by name and genuine expressions of appreciation for their business is very important; recognizing loyal customers
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
for their contribution not just to the company but to the community is especially important
5. Convenience to the Customer
• Respect for customers’ time is paramount; the company that can provide the most valuable information to help customers comfortably make informed decisions in t
5. Convenience to the Customer
• Respect for customers’ time is paramount; the company that can provide the most valuable information to help customers comfortably make informed decisions in t
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
e least amount of time is the one that earns their loyal business
• Customers want the shopping and purchasing process to be easy; the company that develops processes that not only streamline the customer’s experience but also make it enjoyable and fun will capture more of their custom
• Customers want the shopping and purchasing process to be easy; the company that develops processes that not only streamline the customer’s experience but also make it enjoyable and fun will capture more of their custom
.
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
ers’ business
6. Consistency of Performance
• The organization must possess processes that enable all employees to deliver a consistent message of care and competence whenever customers interact with them; this must be true at all levels of the company and at all times in all ways wit
6. Consistency of Performance
• The organization must possess processes that enable all employees to deliver a consistent message of care and competence whenever customers interact with them; this must be true at all levels of the company and at all times in all ways wit
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
h all customers
Implementing these six drivers of customer loyalty in creative ways will drive your business toward capturing a greater “share of mind” in your marketplace. When people think of your organization they will say, “what an awesome place to do business! Let’s do it again!
Implementing these six drivers of customer loyalty in creative ways will drive your business toward capturing a greater “share of mind” in your marketplace. When people think of your organization they will say, “what an awesome place to do business! Let’s do it again!
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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