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Main Subject - Trends in Networking
In the early 1980’s, John Naisbitt wrote in Megatrends about the emerging importance of the networking process in society. Later, Tom Peters wrote in Thriving on Chaos that this “process can be systematized.”
When you stop to think about it, these two statements weren’t made all that long ago. Networking and relationship marketing is a fairly new kid on the block. From the
When you stop to think about it, these two statements weren’t made all that long ago. Networking and relationship marketing is a fairly new kid on the block. From the
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
mid 80’s to the 90’s, systems and structures began to emerge that shifted a lot of business owners from a single-minded focus of direct selling to a broader scope which included relationship marketing and networking.
There are several emerging issues and trends surrounding the process of networking that are being created out of the need to find an effective way to develop busi
There are several emerging issues and trends surrounding the process of networking that are being created out of the need to find an effective way to develop busi
; 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
ness for entrepreneurs and sales people in this new century. I will address three of the most prominent trends that I believe will become more important in the coming years.
1. Online AND face-to-face networking will both continue to flourish.
I’m a proponent of online networks like Ecademy.com and others. I think they will continue to grow successfully and help many of the
1. Online AND face-to-face networking will both continue to flourish.
I’m a proponent of online networks like Ecademy.com and others. I think they will continue to grow successfully and help many of the
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ir members; however, they are not the final answer to business marketing or to networking. They are another great tool for people to connect with others (especially outside their local geographic area).
On my Referrals For Life Blog (http://referrals.ducttapemarketing.com), I recently had someone who said: “I don’t know that it is true anymore that referrals are about relatio
On my Referrals For Life Blog (http://referrals.ducttapemarketing.com), I recently had someone who said: “I don’t know that it is true anymore that referrals are about relatio
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
nships.” He went on to basically say that technology is changing the rules and that just participating in a website will be good enough. Well, in one word, I’d have to say…. WRONG!
Referrals are, and will be for the foreseeable future, all about relationships. Whether they are relationships built online or face to face – they will still involve relationships. People refer
Referrals are, and will be for the foreseeable future, all about relationships. Whether they are relationships built online or face to face – they will still involve relationships. People refer
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
people they know and trust. They will not regularly refer someone just because they are listed on a website – that’s called advertising, not networking.
Online networking works, but relationships must still be part of the process. Using the internet to exchange ideas, share knowledge and increase your visibility will be imperative in the coming years. Virtual networking is a
Online networking works, but relationships must still be part of the process. Using the internet to exchange ideas, share knowledge and increase your visibility will be imperative in the coming years. Virtual networking is a
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
trend that is really catching on in many circles. Some people involved in face-to-face networking feel threatened, as if online networking is going to replace their tried and true system.
Those who foretell the demise of face-to-face networking fail to note one important thing… the facts. Face-to-face networking groups continue to expand. The growth rate of my own referral
Those who foretell the demise of face-to-face networking fail to note one important thing… the facts. Face-to-face networking groups continue to expand. The growth rate of my own referral
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
networking organization, BNI (www.bni.com), bears this out. Since the internet first became popular in the mid 90’s, BNI has experienced a 1,186% growth rate. That is NOT a typo!
The more “high tech” business owners become, the more and more they really need to foster those “high touch” opportunities that face-to-face networking affords.
Virtual networking can be an effecti
The more “high tech” business owners become, the more and more they really need to foster those “high touch” opportunities that face-to-face networking affords.
Virtual networking can be an effecti
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ve way to increase your business and the internet can certainly be a great tool for staying in touch with those with whom you are currently networking, but I don’t think it will replace face-to-face networking in our lifetime.
Technology flattens the communication hierarchy and provides opportunities to improve your networking efforts – not replace them. I believe people who
Technology flattens the communication hierarchy and provides opportunities to improve your networking efforts – not replace them. I believe people who
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
understand this will begin to effectively utilize technology without replacing relationships to take their marketing to new levels in the years to come.
2. Networking & Social Capital Education.
Don’t hold your breath for the colleges and universities of the world to begin teaching networking and social capital. At this point there are only two colleges in the world that off
2. Networking & Social Capital Education.
Don’t hold your breath for the colleges and universities of the world to begin teaching networking and social capital. At this point there are only two colleges in the world that off
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
er regular, core-curriculum college courses on networking and social capital. One is at Davis College in Ohio taught by Debby Peters and the other is at the University of Michigan taught by Wayne Baker. That’s it – two colleges!
The college and university systems are behemoths of bureaucracy that are so far behind the curve of small business development that I’m beginning to
The college and university systems are behemoths of bureaucracy that are so far behind the curve of small business development that I’m beginning to
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
despair that they will ever catch on. Most professors have never had a real job in the business world and are completely out of touch with what is happening in real life, especially in small business.
I predict that the current trend in networking and social capital education will emerge in the form of private professional training organizations in much the same way that pri
I predict that the current trend in networking and social capital education will emerge in the form of private professional training organizations in much the same way that pri
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
vate industry has controlled the educational market on “sales techniques” (another area that colleges fail miserably). Companies like the Referral Institute (www.referralinstitute.com) that are offering a series of trainings specific to the techniques and systems of networking, social capital, and referral marketing are starting to pop up with a very refined and polished slate
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
of seminars and trainings for those business owners who want to learn how to harness the power of word-of-mouth marketing.
3. Small companies will continue to have the edge over big companies relating to business networking.
For the most part, big companies are clueless about building sales through the networking process. They continue to teach sales people traditional meth
3. Small companies will continue to have the edge over big companies relating to business networking.
For the most part, big companies are clueless about building sales through the networking process. They continue to teach sales people traditional meth
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
dologies while relying heavily on advertising to create buzz. Mind you, there’s nothing inherently wrong with these strategies. The problem is – big companies don’t effectively add referral marketing into the process.
When it comes to developing social capital and the networking process, small business is king. Big business is slow to move out of the mindset of splashy ad c
When it comes to developing social capital and the networking process, small business is king. Big business is slow to move out of the mindset of splashy ad c
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
ampaigns, big dollars spent on traditional marketing, and the same-old, same-old.
If big corporations ever get it, watch out. But so far, they have been slow to act. Even programs like the USA’s “Do Not Call” registry, have not moved big companies into understanding how to train their people to network effectively… yet.
If big business does ever get it, however, they are li
If big corporations ever get it, watch out. But so far, they have been slow to act. Even programs like the USA’s “Do Not Call” registry, have not moved big companies into understanding how to train their people to network effectively… yet.
If big business does ever get it, however, they are li
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
kely to run over the little guys. They will learn how to develop social capital and will teach their people how to do true relationship marketing. Most big business is just a notch or two above the universities in the “you can’t tell me anything new” department! For now, there are only a few forward thinking big companies who consistently apply these concepts (and I mean ver
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
y few). For the rest, it is a trend to watch for in the distant, distant future.
When The World’s Best Known Marketing Secret came out in 1994 it was one of the few books in the bookstores that talked about networking. Now there are dozens if not hundreds. An entire industry has been born over the last decade that is now being codified and refined. Over the next several ye
When The World’s Best Known Marketing Secret came out in 1994 it was one of the few books in the bookstores that talked about networking. Now there are dozens if not hundreds. An entire industry has been born over the last decade that is now being codified and refined. Over the next several ye
.
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
ars, you will see more and more about the importance of networking to build your business. It is developing into a science as well as a way of life.
These trends are not just an American phenomenon but an international one. The introduction of “International Networking Week” (www.InternationalNetworkingWeek.com) is a prime example of how this approach to doing business is gr
These trends are not just an American phenomenon but an international one. The introduction of “International Networking Week” (www.InternationalNetworkingWeek.com) is a prime example of how this approach to doing business is gr
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
owing worldwide.
Small business development through the process of building social capital will continue to grow in the global market we are currently experiencing. No one has a crystal ball, but based on what I’m seeing and what I’ve seen in the past, I believe these are some of the key things to look for relating to networking and referral marketing over the next few years
Small business development through the process of building social capital will continue to grow in the global market we are currently experiencing. No one has a crystal ball, but based on what I’m seeing and what I’ve seen in the past, I believe these are some of the key things to look for relating to networking and referral marketing over the next few years
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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