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Main Subject - Direct Mail Campaigns -- Expert Targeting Creates Awesome Results
You’ve probably heard the normal response to any bulk mail out in business ranges from 0.5% to 1% -- any more is often regarded as a very good result. You can increase the odds in your favour with savvy targeti
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
ng.
You see, this low ‘normal response’ is usually because the mail shot is sent to a list of names or contacts that is not qualified or targeted. It’s like taking a handful of seed and scattering them on the
You see, this low ‘normal response’ is usually because the mail shot is sent to a list of names or contacts that is not qualified or targeted. It’s like taking a handful of seed and scattering them on the
; 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
round and hoping some will take root, before being eaten by the birds.
‘PREPARING THE GROUND’
You have to ‘sow’ your seeds in prepared ground and nurture them to increase the chances of growth. The same appli
‘PREPARING THE GROUND’
You have to ‘sow’ your seeds in prepared ground and nurture them to increase the chances of growth. The same appli
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
es to the letters you send out and the adverts you place.
TARGETING YOUR AUDIENCE MAKES A REAL DIFFERENCE
Selecting the right people and businesses to write to impacts dramatically on the results you get.
Let
TARGETING YOUR AUDIENCE MAKES A REAL DIFFERENCE
Selecting the right people and businesses to write to impacts dramatically on the results you get.
Let
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
me give you an example; a letting management agent, wanted to offer his services to people buying apartments at a new, exclusive development.
A letter was sent to the people who had already agreed to buy one of
A letter was sent to the people who had already agreed to buy one of
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
these opulent apartments - this was a VERY SMALL AND VERY TARGETED LIST -- just 48 addresses.
It went out the week before Christmas, it was felt his prospects would possibly get bored in the long holiday betwe
It went out the week before Christmas, it was felt his prospects would possibly get bored in the long holiday betwe
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
n Christmas and New Year and would read the letter, even though it contained a large number of pages.
There were 2 responses between Christmas and New Year!
A slightly shorter, follow-up, letter was sent after
There were 2 responses between Christmas and New Year!
A slightly shorter, follow-up, letter was sent after
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
New Year reminding them about the first letter and giving them the essence of the offer again.
The final outcome? An amazing 44.2% responded and a whopping 63.16% of the enquiries converted into clients.
This
The final outcome? An amazing 44.2% responded and a whopping 63.16% of the enquiries converted into clients.
This
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
rate of response and conversion is highly unusual -- a percentage of 4% to 5% is normally an excellent outcome. More often results are in the ?% to 1?% range. But it does show how precise targeting can increas
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
e your results dramatically.
Make sure of your target audience and prepare properly, it is crucial to your success.
PREPARE TO TARGET
‘Preparing' for your advertising campaign means researching the readership
Make sure of your target audience and prepare properly, it is crucial to your success.
PREPARE TO TARGET
‘Preparing' for your advertising campaign means researching the readership
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
of the publication you plan to use and making sure it reaches the right audience for you.
‘Preparing’ for your mailing campaign means identifying people or businesses who have already bought or expressed an int
‘Preparing’ for your mailing campaign means identifying people or businesses who have already bought or expressed an int
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
rest in what you have to offer.
HOW DO I FIND PEOPLE INTERESTED IN MY PRODUCT OR SERVICE?
Well, in the case of a letter going out, it depends upon where your prospects’ details come from in the first place. I
HOW DO I FIND PEOPLE INTERESTED IN MY PRODUCT OR SERVICE?
Well, in the case of a letter going out, it depends upon where your prospects’ details come from in the first place. I
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
f they are in your database, that you have spent time building from the contacts you have made over the years, then you have made a note of what would interest them -- haven’t you?
If you don’t have a database
If you don’t have a database
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
f contacts, you need to get people to qualify themselves by responding to an offer.
Let’s say you have rented a mailing list of 10,000 addresses. You qualified as much as you could when you sourced the list, t
Let’s say you have rented a mailing list of 10,000 addresses. You qualified as much as you could when you sourced the list, t
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
ypes of business, contacts within the business, geographical location etc. Don’t mail to the whole list -- filter the list to discover who is more likely to buy your product or service, based on whatyou know ab
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
ut your current customer list.
Make a low priced or no charge offer to get the people who are more likely to be interested in what you supply to respond. Effectively 'holding up their hand'.
It could be a rep
Make a low priced or no charge offer to get the people who are more likely to be interested in what you supply to respond. Effectively 'holding up their hand'.
It could be a rep
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
ort (or white paper) on something that gives your prospect useful information and has some connection with your main product or service.
If you’re aiming to get people to attend a seminar, then inviting them to
If you’re aiming to get people to attend a seminar, then inviting them to
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
a taster session may be the right ‘carrot’ to entice your prospects to book on the seminar itself. Or a teleconference beforehand giving them an idea of what the seminar itself is about.
The key is to get peo
The key is to get peo
.
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
ple to self-qualify themselves for your main product or service by responding to your offer.
As people respond to your initial letter you can start to write to them with specific offers, knowing they are now a
As people respond to your initial letter you can start to write to them with specific offers, knowing they are now a
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
ore qualified prospect. And incidentally, when you write to your newly qualified contact, make sure you write about the benefits they can enjoy when they do business with you and write from their point of view
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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