Tags |
|
|
Links |
|
|
Main Subject - Networking isn't Selling - or is It?
Networking 101 tells us that networking isn’t selling. And for the most part, I agree.
In fact, the reason most sales p
In fact, the reason most sales p
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
rofessionals give up on networking so quickly is because they are under the impression that if they don’t make a sale (o
; 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
several sales) shortly after attending a networking event than it wasn’t worth the effort.
Of course, effective networ
Of course, effective networ
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ers know that this could not be further from the truth.
In fact, the results of effective networking can not only mean
In fact, the results of effective networking can not only mean
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ncreased sales to the above average networking sales professional, but in most cases it can mean easier, less competitiv
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
sales.
What’s more, the trust that can be built through networking is often only secondary in strength to the trust th
What’s more, the trust that can be built through networking is often only secondary in strength to the trust th
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
t is built through referral selling.
To validate this point to an even great degree, I recently saw a statistic that st
To validate this point to an even great degree, I recently saw a statistic that st
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
ted networking accounts for 15-20% of the average salesperson’s business. And I believe this statistic because I myself
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ttribute roughly 30-35% of my business to this powerful, often underutilized business tool.
So, the question becomes, h
So, the question becomes, h
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
w does one become successful at networking?
Here are some suggestions:
1) Come to the realization that networking is a
Here are some suggestions:
1) Come to the realization that networking is a
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
out building long standing relationships based on trust and rapport and not about making quick sales
2) Always follow-u
2) Always follow-u
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
with everyone you meet at a networking event (very few people do this and you will certainly stand out when you take th
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
s initiative)
3) Ask the person you met at the networking event if there is any way you help them find more business (b
3) Ask the person you met at the networking event if there is any way you help them find more business (b
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
a giver first and the receiving will happen on its own)
4) Find ways to add value to the new business relationship (se
4) Find ways to add value to the new business relationship (se
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
d valuable information related to their industry instead of yours for example)
5) Attend the networking event with a bu
5) Attend the networking event with a bu
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
dy so that you can double your chances of meeting new people while also perhaps overcoming your fear of the networking p
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
ocess (each of you can introduce the other to potential clients)
Finally, remember that as long as you are attending th
Finally, remember that as long as you are attending th
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
right networking events, it is almost always worth the effort.
Why? That's simple. When you network effectively, you a
Why? That's simple. When you network effectively, you a
.
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
e not only ensuring future sales activity, you are also dramatically increasing your odds for sales success.
And so, in
And so, in
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
answer to the question posed in the heading, yes, in some cases networking is selling. Just not in the traditional sense
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.mainsubjects.org.ua/article/31753/mainsubjects-Networking-isnt-Selling--or-is-It.html">Networking isn't Selling - or is It?</a>
BB link (for phorums):
[url=http://www.mainsubjects.org.ua/article/31753/mainsubjects-Networking-isnt-Selling--or-is-It.html]Networking isn't Selling - or is It?[/url]
Related Articles:
Are You Stunting Your Business Growth? (First Article Of 2)
Budget Metrics - An Effective Means of Measuring Fiscal Performance
Bookmark it:
|