Main Subject - Business

There is a recent trend towards outsourcing your B2B cold calling and telemarketing to companies that specialize in cold calling prospects and setting appo

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

intments for you. This article aims to evaluate the pros and cons of outsourced cold calling.

The reasons to outsource your B2B cold calling are numerous;

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

the following are the pros of outsourcing your telemarketing services:

Your sales reps hate cold calling; they hate the rejection. If they can r

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

ceive sales leads without cold calling they would love that; it would free up more time for face-to-face meetings which would lead to more closed sales.

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

You would spend less money on purchasing lead lists from companies such as InfoUSA and D&B.

You wouldn't have to pay a big salary to your

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ales force to do menial tasks like dialing a telephone.

Outsourced telemarketing companies normally provide cold calling training to their call c

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

nter staff. This could include training on how to get passed the receptionist or gatekeeper and through to the actual decision maker. This gives them a com

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

petitive advantage.

Cold calling outsourcing firms can also actually set appointments providing their clients with qualified sales leads.

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

ul>

These are all great reasons to outsource your cold calling to a specialist firm. But, does that actually make it worth it?

My answer to that ques

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

ion is NO. Actually, in most cases my answer is no. What you need to do is calculate your return on equity vis-?-vis your return on equity on

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

other advertising campaigns. After all, a telemarketing campaign is just like an advertising campaign. It is marketing for new clients or prospects. If you

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

can get more bang for your buck in an alternative advertising campaign, you should do that instead.

Researching prices on the internet, I found that one p

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

ominent B2B cold calling firm charges $1800 for 100 hours of cold calling. Let's say that in an hour they can make 10 cold calls. That would be 1000 cold c

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

lls in an hour. Let’s further say that for every 10 calls they set one appointment. That equals 100 sales leads. At $1800 that would cost you $18 per lead.

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

Now, $18 per lead may not be bad. Perhaps you make $1000 in commission per closed sale and you can close 1 out of every 3 sales leads. On the surface, th

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

s would be worth the costs of hiring a firm to do your cold calling for you.

But before you decide that outsourcing your cold calling is a good idea, you

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ust evaluate other advertising methods that you may use. Perhaps you’d have a better ROI with newspaper ads or radio commercials? Perhaps online advertisin

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

would produce a higher ROI?

Take, for example, link ads on Google's AdWords program. You can purchase leads for just pennies per click. Let’s say the key

.

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

ords that you target cost 50 cents per click. At this rate, you would receive 36 sales leads for $18. Cold calling costed you $18 for just 1 lead. Perhaps

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

he cold calling leads are better quality. But with the share numer of more leads that could be possible via other marketing methods, it may not be worth it

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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