Main Subject - Business

No matter what marketing tactics you use to generate and develop leads, nothing is more important than your prospect list. There are seemingly endless options for buying prospect lists – some a lot better than others and

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

the better ones priced accordingly. But, very often the best sources of a list are right inside the company. Before you spend a dollar on buying or renting an outside mailing list, it pays to check out the following commo

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

Examples of combination products may in

ly overlooked in-house sources. Most companies can find enough prospects to fill the funnel for a while.

1. Your Sales and Marketing Database. This is by far the largest source of hidden prospects in just about an

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

y company. It may be your CRM application. It may be your Outlook database. It’s wherever your company stores (or perhaps more accurately “dumps”) names of contacts that weren’t ready to buy at that moment.

One company w

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

worked with had a well-organized telesales effort that included 5 sales assistants identifying and contacting a minimum of 10 new prospects a day. This resulted in 250 new prospects added to the database every week. In m

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

Combination pro

st cases, these prospects weren’t ready to buy immediately, so the sales assistants made a note to re-contact the prospect in a few months. More often than not, the second phone call never took place. When we got involved

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

, the database contained over 15,000 prospects who were in the right positions and the right companies to be potential buyers.

2. Current, Former and Inactive Customers. Even though everybody knows it’s far easier

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

and cheaper to get additional business from existing customers, a surprising number of companies don’t actively cultivate this additional business. Ask yourself these questions: Are you maintaining good contact with your

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

clients once the product is sold or the project has been completed? Are you looking inside your clients’ organization for a chance to meet other needs internally? Are you actively asking for referrals? If your answer to a

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

y of these questions is “no”, you could be ignoring your best source of new prospects.

3. Spreadsheets and Lists Stored on Your Server. Have you looked at your network servers lately? Sales and marketing folders i

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

particular can be hiding some good lists. Just recently we took a look at a client’s server and found two recent convention attendee lists, three association membership lists, a strategic partner’s mailing list, and a ta

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

Following aspects would a

rget list that had been compiled for a 4-city seminar tour. None of these lists had been incorporated into the marketing database.

4. Info Requests from Your Website. Today it’s very easy to input web inquiries au

dd to the challenges in developing combination products:

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

omatically into your CRM, but many companies don’t do that. Instead they have inquiries go directly to the sales staff for follow-up. Often, these never make it to the database. Your webmaster can probably create a list o

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

f all incoming inquiries that can then be compared to the active database. If not, track down the address to which inquiries are sent.

5. E-newsletter subscriptions. If you use a third-party email distribution ven

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

or for electronic newsletters, you probably have a separate database growing on the vendor’s servers. These companies do a great job of managing subscription lists, but only the most sophisticated can automatically integ

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

ate with your internal database. This means your e-newsletter subscription list(s) are completely separate from your sales and marketing database, and are undoubtedly a very good source of untapped prospects. Comparing th

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

Professional from academic institutions, pharmaceutical industries, health care indust

e two is also a good way to clean up email addresses in your active database.

6. Your employees. Everyone in your company is a potential source of prospect names. These could be people they’ve met at industry even

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

s, contacts who’ve sent in technical questions, suppliers and partners, friends and neighbors. It’s worth the effort to ask everyone to check their own lists and forward all potential prospects to the marketing department

.

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

. Be sure to carefully define a “prospect” when you do this.

And after that … Once you’ve flushed out all of these sources, you can always pay to add new prospects. Mailing list rentals and purchases can get you a

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

Companies that provide selfless information through particip

lot of names in a hurry, but we’ve found that home-grown lists are almost always the most effective. It may take a little more time to build your list yourself, but the quality will be far superior.

© The Tatum Group 200

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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Your unique advantage is the union of your perception of the problem and the special perspective you bring to solving it. Bring that union into play in relationship with your customers, and you'll find that they will find their own unique advantage.

A career as a Jeweler requires a special person with lots of patience and ability to do tedious work for long periods of time. The jeweler must have educational courses in the trade and love for jewelry and the work he does. The jeweler is free to explore other facets of the business such as sales, design, and jewelry store ownership.

We had a problem with handling materials in a production department. Our process required raw materials to enter the department, be processed, and leave the department. All together 20 people contributed improvements to eliminate unnecessary equipment, combine processes, and reduce cost.

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