Main Subject - Business

Imagine you’ve worked hard to market your services; you’ve attracted a prospective client, set up a “sales conversation” and gone through the whole 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 process. Great job, but sometimes, no matter how hard we try, prospects don’t always sign up on the spot.

Sometimes, a prospect needs some time to make t

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

Examples of combination products may in

he decision on whether or when they’d like to start working with you. What I’ve noticed over the years is that when this happens, most always, the sale nev

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

er happens, probably because life gets in the way and what’s out of sight is out of mind.

Often, this means you’ve lost them for good. UNLESS you use t

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

he proven method to get indecisive prospects to slide right into your practice, instead of slipping through your fingers.

So I’ve come up with a fantastic rem

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

edy for this, which again, helps me close the deal 97-98% of the times that I use it.

If they don’t bite on the sales call, use what I call the “boo

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

kend” method. Here’s how it works:

When a prospect tells me they need to talk to their spouse or needs some time to decide, or wants to ideally start in 2

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

months, I schedule a 5 minute “check-in” call with them (next Tuesday at 3pm, for example) so that we can follow up with each other without having to p

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

lay phone tag or have to follow up with one another.

The great thing about this technique is that it puts a time limit in the prospect’s mind as to whe

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

n THEY would like to make the decision, and obviously, you let them choose when they’d like to have that 5 minute chat.

I essentially came up with this bec

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

ause I really dislike following up in this situation. It makes me feel like I’m chasing after them and I don’t feel that this is Client Attractive. So inst

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ead, we agree that they’ll call me on set date and 90% of the time they do, and out of those times, they don’t feel pressured, have had time to think about wha

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

t we talked about, and are ready to make a decision to move forward. It’s a great tool!

If for whatever reason they don’t call during the time of your 5 mi

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

nute check-in appointment, you can then call them or e-mail them asking if anything went wrong. This usually puts the prospect into a mode where they feel

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

obliged to get back you, as they were the one who missed the appointment. Again, this is much more Client Attractive and ends up saving you a lot of time.

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

YOUR ASSIGNMENT:

If a client doesn’t sign up on the spot, make sure to bookend another date so you don’t have to follow up on each other for weeks.

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

Professional from academic institutions, pharmaceutical industries, health care indust

Use it as a “let’s see where you are in your decision making process then.” It works like a charm.

Having trouble with actually getting the prospect INTO

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

the sales conversation in the first place? You’re definitely not the only one. The good news is, I’ve developed a way to close the sale 97-98% of the time

.

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

and I share the entire process in my Client Attraction Home Study System™. It’ll help you fill your practice quickly and consistently, Guaranteed. Here’s where

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

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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