Main Subject - Business

If you want to boost your service business revenues consider these ways to improve customer loyalty and generate more sales - without investing in expensive advertising campaigns.

6. Eval

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

uate your customer portfolio to identify high-value segments. It may not sound nice to say, but not all clients are equal. So it is important to assess which clients are profitable for yo

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

Examples of combination products may in

u.

Identify the characteristics that make your good clients valuable to you. Review your sales records, data on previous clients and other sources to determine the profile of your ideal c

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

lient. This enables you to define a segment that you can consequently target with your marketing efforts. Consider:

The type of service your clients are buying from you.

The nature of th

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

eir 'need' that you have addressed.

Their type of business - by industry or by size (e.g. sales, employees, facilities).

The degree of their knowledge of your services.

The nature of yo

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

Combination pro

r clients buying process (e.g. do you have more success with entrepreneurial style clients, or with more structured buying-decision processes.)

The idea is to focus on your "A" category p

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

rospects. Don't get side-tracked by chasing lower value prospects, but we won't forget about them either. Remember, todays "C" category prospect may evolve into tomorrows "A" category clie

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

nt. By focusing on your "A" category prospects you will also generate additional interest from other prospects.

Now you can efficiently target your ideal high-value prospects by selecting

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

relevant media and promotional opportunities, developing an appropriate benefit message, and by implementing suitable sales practices tailored for this type of prospect.

7. Involve your

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

'back-office' personnel. In a service business there can be a lot of client contact, and not always by the front-office person (or service provider) in the business. Think about the poten

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

ial impact of client contact with your accounting/administrative staff, service technicians, maintenance staff, and support personnel.

Identify the "moments of truth" in your business and

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

Following aspects would a

focus on improving these brief encounters. Also consider possible breakdowns in the delivery of your service and train staff on how to handle these critical incidents.

So try to think of

dd to the challenges in developing combination products:

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

all back-office staff as part-time marketers. Use their customer contact to enhance the image of your firm by improving their skills, involving them in training, and obtaining regular fee

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

dback from them on issues affecting clients.

8. Use the Internet to be available when you are not. The Internet never sleeps, gets caught up on phone calls, has sick days, or is out to l

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

unch. When designed correctly, a web site for a service business can substantially enhance the provision of great customer service.

It is also an excellent tool for generating qualified l

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

ads. Your web site is the modern "silent salesman". Use your web site to add "tangibility" to your service business, explain your processes, and to reassure your prospective clients of you

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

Professional from academic institutions, pharmaceutical industries, health care indust

r ability to satisfy their needs.

Don't get confused by the array of technological options - keep it simple for your clients. A web site will add a 24-hour-a-day element to your business,

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

and can incorporate online systems to automate business processes such as bookings and appointments, payments and the provision of information.

Importantly, by structuring the contact pr

.

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

ocess correctly on your web site, you can help prospects to qualify themselves, and in doing so minimise the time you spend dealing with low value enquiries.

Lastly, always respond prompt

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

Companies that provide selfless information through particip

ly to any enquiries generated via your web site. Prospects and customers will judge the quality and reliability of your services by the manner in which you respond to their initial request

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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