Main Subject - Business

Many financial advisor marketers have counted on free dinner seminars to build their client lists over the past few decades. Unfortunately, these events have become overused and too often fail t

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

o attract real prospects. In addition, pre-retirees, who many times are two-income couples, may be too busy to attend a dinner seminar.

Where can financial advisor marketers turn for events to

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

Examples of combination products may in

enerate cost-effective and quality leads?

Webinars, one-to-many interactive seminars on th web, can be a powerful and inexpensive financial advisor marketing solution to generate quality sales l

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

eads and quickly convert prospects to clients. They are a staple of the marketing diet outside of financial services and are now more frequently found in the financial marketing mix.

Webinars ar

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

especially rewarding because they can call on successful online marketing strategies like e-mail and websites. A second advantage is that webinars don’t require travel or a big commitment of ti

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

Combination pro

e by attendees.

7 Tips To Help Financial Advisor Marketers Gain More Clients From Each And Every Online Event

1 - Invite a Bigger Crowd by Going Outside Your Own List

While the topic, q

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

uality of list, and marketing copy used in the invitation can increase response by up to 500 percent, hitting 5,000 names will usually increase your webinar results a lot faster than just ploddin

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

along and mailing to a small, in-house list of 500 names. Rent lists, partner, co-sponsor, and advertise to reach a wider audience because the event will take essentially the same time (your mos

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

t precious resource) to produce no matter whether 5 or 500 prospects attend.

2 - Add “Early-in-the-Buying-Process” or Educational Events to the Mix

These top-of-the-funnel marketing events are

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

any times focused on a big pain point or topic of great interest to your target market, and they talk very little about a specific product or solution. When you see events with hundreds – or even

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

over 1,000 registrants – these events are usually Early/Educational ones.

3 - Do Some Selling Events

Events to decision making units where you 'ask for the order' at the end are usually the hig

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

Following aspects would a

hest ROI events. Yet, too few speakers do them. Consider adding a sales pitch event to your marketing mix and be sure to include case studies, where you can.

4 - Market to Registrants

Just beca

dd to the challenges in developing combination products:

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

se people sign up doesn't mean they will attend. By calling on a conversion sequence, you may be able to get an excellent 60 percent of registrants, or more, to attend your event. Your sequence

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

could be as simple as two emails and an automatic voice broadcast call to those who registered. Also, consider a separate automated follow-up sequence for attendees and non-attendees. (See numb

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

r 5.)

5 - Use a Multi-Step Follow-up Sequence

Most advisors are concerned about following up too often with webinar registrants because they don't want to bother them. Big mistake! Those marke

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

ers getting as high as 20 percent conversions to sales will have a multi-step, follow-up plan including emails, calls, and direct mail that can be mostly automated.

6 - Consider Direct Mail to I

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

Professional from academic institutions, pharmaceutical industries, health care indust

ncrease Registrants, Sales Conversions

For example, test a mailing of post cards to your prospect list, or likely suspect lists, to generate registrants you might not be able to attract through

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

nline advertising. Use longer-format direct mail to help convert good prospects to clients (think 4 to 8 page sales letter). Your letter could be based on the script of your best sales webinar.

.

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

Now, saving the best for last . . .

7 - Combine Many of These Strategies with an Endorsed Webinar

Stack the odds in your favor by using someone else's in-house client and prospect list as the

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

Companies that provide selfless information through particip

ocus of your marketing and your event. It is not uncommon to generate 10 to 20 new client meetings within 48 hours of an endorsed event to prospects who had never heard of the host company before

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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