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You are here: Home > Business > Marketing Direct > Direct Mail Strategies: How To Get a 50% D.M. Response Rate With A Stroke Of The Pen |
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Main Subject - Direct Mail Strategies: How To Get a 50% D.M. Response Rate With A Stroke Of The Pen
Did you know that your clients and customers are getting hit with approximately 3,000 advertising messages a day! This barrage of advertising noise is making it increasingly 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 difficult for prospective customers to hear what your business has to offer. So, what can a business do to break through this noise and actually have their messages hea ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in d by their targeted customers? Many businesses have just simply started to advertise more and louder…which simply compounds the overall problem. Some have tried gimmic lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. s and sales. Still others have simply accepted a stagnant business growth model. However, a few have begun to see huge success with a 2,000 year old tool that has none of 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 e sexiness of a celebrity endorsement or the award winning graphics of a Madison Avenue Advertising firm. That tool is a simple handwritten note. • A Midwestern restaurant d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro owner sent out a series of handwritten notes to his customers and had a 20% response rate. • A financial planner in the Northeast sent out just 80 handwritten notes to touc 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 base with prospects and had 6 people call him and 2 set appointments. • A non-profit was able to get 51 donations by simply sending a handwritten note to warm list of 100 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 eople. Why? Handwritten notes are special. Clients cannot throw them away without reading them. I dare you to try and throw out a handwritten note without reading nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically it the next time you get one. Believe me, I’ve tried. I recently received a handwritten postcard from the hair studio that I had abandoned 6 months earlier for one closer to 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 my home. I knew it was probably just them asking me to come back as a client, but did I read it even though I knew it was a prospecting piece? Yes. There is a magnetic fee ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi ing that handwritten notes create that draws you in every single time. Would I have read a prospecting form letter or an advertisement from the same studio? No. So is it w ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a rth it to spend the time sitting down to write handwritten notes to your clients and prospects? When was the last time you have had a 6%, 20% or 50% response rate on a maili dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod g? Here are some tips on how to get a 50% response rate on your next handwritten note mailing: 1. Each piece should begin with your client or prospects name not a g cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin eneric greeting 2. You should handwrite the piece yourself or utilize some of the technology now available that will duplicate your handwriting accurately and easily – tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen omputer generated font, while easier, will NOT get you a 50% response rate 3. Give your client or prospect a reason to call you – “I just thought of an idea that might 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 eally cut your tax bill, give me a call so we can get together before you do your taxes this year! Talk to you, Mike” 4. Put it on a card that will get their attention ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust Cute, unusual, beautiful, historic, children, animals…they all work but use a picture that catches their eye 5. Hand address their address, Do NOT use labels – Labels y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products tell them that you sent the same card to hundreds of other people. You have to keep it personal, even if you are sending it to hundreds of other people! If you follow these . 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 few, simple and easy guidelines, you will be surprised at the huge response rate you will receive. It will also be the last time you’ll want to flush good money down the dra elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip n sending out generic form letters or invitations. A little elbow grease or a little smarts (using technology) will go a long way when it comes to direct mail response rates 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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