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Main Subject - Direct Mail - Don't Assume, Just Test and Track
Where to Start:
Most novice marketers have definite fixed ideas about direct mail that are way off base - most often in the area of what to spend and how much to do. You should determine what you are able
Most novice marketers have definite fixed ideas about direct mail that are way off base - most often in the area of what to spend and how much to do. You should determine what you are able
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
to spend for your marketing budget, spend it, and determine the maximum number of leads that you can create. For instance, I’ve heard this statement quite often: "We aren’t that large of a company. How cou
; 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
ld we send out 2,000 postcards all at once?" because "What if they all call?" – seems like a valid concern, right?
Here is the reality behind it: Unfortunately they won’t all call. However, a good deal of t
Here is the reality behind it: Unfortunately they won’t all call. However, a good deal of t
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
em very well may and making sure that your traffic in is not more than you can handle is something to think about. Truthfully, there is no sure way to tell exactly how many people will call if you haven’t do
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ne this type of marketing before. Think of it this way. What would happen if they did all call? You may not be able to handle all of them, but you would handle as many as you possibly could, right?
In this
In this
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
cenario, you would have maximized your income for that time period providing you could close up all those callers! You can also explore the idea of expanding your operation to handle the number of leads that
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
you can create.
What if you didn’t max out your promotion at the very start? You can afford to send out 4,000 pieces every two weeks but you think that you will simply get too many calls to be able to hand
What if you didn’t max out your promotion at the very start? You can afford to send out 4,000 pieces every two weeks but you think that you will simply get too many calls to be able to hand
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
e them all. You, instead, send out only 2,000 and the response is decent. However, you still have some down time where you are having to try to “manufacture” sales.
You saved $400 in marketing money but you
You saved $400 in marketing money but you
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
had enough down time where you
could have closed quite a few more sales than you did. The question now is "Which gives me more money in my pocket? Saving $400 on marketing or closing quite a few more sal
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
s and earning an extra couple of G’s potentially.” More than likely the answer is to spend as much as you possibly can on your marketing, right?
By spending all that you can afford on marketing when you st
By spending all that you can afford on marketing when you st
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
art a program you maximize your income almost immediately.
Okay, Time to Track Results:
Hopefully you have more than one way that you try to recruit new customers. So how do you know which ones are working
Okay, Time to Track Results:
Hopefully you have more than one way that you try to recruit new customers. So how do you know which ones are working
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
and which aren’t? Set up a system to track the results.
Let’s take for example a situation in which you decide to start a Postcard Marketing Campaign for your business. The first week you send out 3000 po
Let’s take for example a situation in which you decide to start a Postcard Marketing Campaign for your business. The first week you send out 3000 po
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
tcards. When they start hitting homes you get 30 calls. Did all of these leads come from the postcards? Probably not. Because the week before you got 8 calls and hadn’t sent out any postcards yet. So how can
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
you tell who actually got a postcard?
The Answer: All you have to do is ask them. "So how did you hear about our company?" The hard part is making sure that any employee in your company who answers the pho
The Answer: All you have to do is ask them. "So how did you hear about our company?" The hard part is making sure that any employee in your company who answers the pho
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 and may talk to a new prospect remembers to ask the question every time. The fewer prospects who answer this question, the less accurate your information will be when making future marketing decisions.
No
No
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
w let’s assume that you have been sending out postcards for a while and you have a good number of calls coming in. If you ask the question "So how did you hear about our company?" they may respond, "I got yo
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
r postcard in the mail." But, by now you have mailed postcards to 4 different lists, 3 times each. How do you tell which list and which mailing this customer was from?
The Answer: Put a marketing code on t
The Answer: Put a marketing code on t
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
he postcards that will tell you which specific postcard they received and when it was mailed.
Give each list a name and work the date into your marketing code as well. And the only thing your representativ
Give each list a name and work the date into your marketing code as well. And the only thing your representativ
.
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
s have to ask is "Would you mind reading me the marketing code above your address?" This code should give you all the info that you need to know and help you keep your Marketing Results Tracking as accurate
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
as possible.
Try not to operate off of assumptions about “how to market” if you haven’t educated yourself. And make sure you collect all the data and make your future marketing decisions based on the facts
Try not to operate off of assumptions about “how to market” if you haven’t educated yourself. And make sure you collect all the data and make your future marketing decisions based on the facts
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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