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Main Subject - Get Better Results with Direct Mail - Make the Call!
Over the past 50 years, American businesses have sent billions of pieces of mail with an eye towards growing sales. Everything from simple letters and postcards, to CD’s, three dimensional brochures and boxes of cereal have found their way into
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
mailboxes across the country. Needless to say, billions of dollars are riding on the success or failure of these mailings.
What’s the key to success? Talk to them! The best way to guarantee the success of your direct mail campaign is to per
What’s the key to success? Talk to them! The best way to guarantee the success of your direct mail campaign is to per
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
sonalize it with a call, make it easy for customers to respond and measure the results. Campaign success is measured as return-on-investment (ROI) – or how many total sales were generated compared to the cost of the marketing campaign.
If you
If you
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
are running a long-term campaign, try testing your mailing on a small-scale first. When conducting a test mailing, decide how many pieces you want to send. Make sure you send out enough responses to accurately determine your response rate and
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
the effectiveness of your message. A good rule of thumb is to test between 1,000 and 5,000 pieces to start. Your response rate will vary depending on your product, industry, target market and other factors. To increase the response of your ma
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
iling, you will want to pay attention to these factors:
Campaign Goal – What is the goal of your campaign? Do you want to build brand awareness, generate leads, or make an immediate sale? Once you have decided on your goal, determine how many
Campaign Goal – What is the goal of your campaign? Do you want to build brand awareness, generate leads, or make an immediate sale? Once you have decided on your goal, determine how many
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
responses you need to make the campaign successful and then track the results.
The Mailing List – Make sure your list is targeted at your actual buyers. Identify who your customers are, and build a list based on those criteria. What unique c
The Mailing List – Make sure your list is targeted at your actual buyers. Identify who your customers are, and build a list based on those criteria. What unique c
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
haracteristics do your customers share? Are they business customers or consumers? Where are they located? How affluent are they? These questions are unique to your business and need to be answered in advance of the list building process.
Th
Th
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
e Offer – Having a good offer is one of the most important parts of the mailing. Whether it’s a discount, a free gift or rebate, the offer needs to be so tempting it is too good to refuse. Also, make sure the offer has an expiration date. Time
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
and time again, it’s been proven that more people respond to an offer when there’s a limit on the amount of time they have to respond.
The Benefits – Highlight the benefits of what your product or service will do for your prospective customer.
The Benefits – Highlight the benefits of what your product or service will do for your prospective customer.
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
Don’t dwell only on the features of your offering. Focus on what your service or product can do for the customer: Double your sales performance; receive a 50 percent time savings; lose 10 pounds in 10 days. Try to quantify the benefits avail
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
able to make them more concrete and credible. If you have an important, valuable benefit, you may also want to use it in the headline with the offer.
Lifetime Customer Value – Know what each new customer is worth. This usually boils down to u
Lifetime Customer Value – Know what each new customer is worth. This usually boils down to u
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
nderstanding Lifetime Customer Value (LCV), or the actual profit (sales price less direct cost of goods sold) associated with each new sale. How often will a new customer purchase from you over the next two to three years. Multiplying these tw
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
o numbers produces LCV. This is the maximum amount you can afford to spend to acquire a new customer.
Campaign Costs – Understand at the outset how much you need to invest in your campaign. Take the total cost of your mailing, including creativ
Campaign Costs – Understand at the outset how much you need to invest in your campaign. Take the total cost of your mailing, including creativ
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
e, printing, postage and labor, and divide that figure into the LCV. This will tell you how many sales you’ll need to make in order to break-even on the campaign.
Response Medium – Make it easy for your customer’s to respond. Provide a teleph
Response Medium – Make it easy for your customer’s to respond. Provide a teleph
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
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
one number, fax number, email address or a Web site. Let customer’s contact you in the way they prefer. Adding a toll-free number to your direct mail piece makes it easier for a prospective customer to call and can double your response rates.
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
It will also allow you to better track your campaign for messages and the effectiveness of your offer so the campaign can be fine-tuned along the way.
Personal Follow Through – For an even greater return on your marketing dollars, follow up yo
Personal Follow Through – For an even greater return on your marketing dollars, follow up yo
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ur mailing with a personal follow up call. Many business lists include phone numbers for your target customers. Whether you do it yourself, or hire an outside company, recent studies show that a personal follow up call can increase response ra
.
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
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
tes by nearly 50 percent. When calling consumers, though, be aware of the Do Not Call list.
Of course, the results produced by any campaign are dependant on the general economic environment, the market, the product, the list, the offer, and ot
Of course, the results produced by any campaign are dependant on the general economic environment, the market, the product, the list, the offer, and ot
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
her factors.
So, if you have a product or service you’d like to sell, direct mail, combined with personalized services such as a toll-free number or follow up call, may be just the marketing tool you need to take your business to the next level
So, if you have a product or service you’d like to sell, direct mail, combined with personalized services such as a toll-free number or follow up call, may be just the marketing tool you need to take your business to the next level
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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