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Main Subject - ClickZ Email Marketing Conference: Strategic Partnerships
We've all seen examples of how successful strategic partnerships work, leveraging the contacts and resources of every partner, for the benefit of all by generating business and defeating competitors that would have been impossible alone.
A successful strategic p
A successful strategic 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
artnership is the best illustration of the expression, "all boats rise together on a rising tide" - so what's the problem? What do you have to lose when considering s strategic partnership?
I met the owners of five small printing companies recently. Each had kno
I met the owners of five small printing companies recently. Each had kno
; 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
wn the others for years, they are part of the same metropolitan area business community, yet when they began considering a strategic partnership - they took months to iron out the details. Why?
Because they envisioned using email to each other's house lists (loy
Because they envisioned using email to each other's house lists (loy
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
al customers and qualified prospects) as the process to jump start the process and they wanted to be absolutely sure how they were being represented before doing so.
They had seen strategic partnerships created to undertake a joint email marketing campaign. They
They had seen strategic partnerships created to undertake a joint email marketing campaign. They
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
had been on the receiving end of jointly sponsored mailings. What one such group found out too late - when you hit the "send" key, everything you have ever worked for is in play. You are instantly identified with the other partners. Your reputation, your brand i
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
t instantly at stake.
The elements of an email marketing strategy are many. Each element is a matter for discussion with your strategic partners. You want the look/feel, the message, everything - to represent your brand. You want the piece to be representative o
The elements of an email marketing strategy are many. Each element is a matter for discussion with your strategic partners. You want the look/feel, the message, everything - to represent your brand. You want the piece to be representative o
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
f you and your company.
But those are just the details. Unless the people you are partnering with are people you trust with your hard won customers, unless you're convinced they'll represent themselves and the strategic partnership in a way that you will be prou
But those are just the details. Unless the people you are partnering with are people you trust with your hard won customers, unless you're convinced they'll represent themselves and the strategic partnership in a way that you will be prou
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
of - you're better off, much better off going it alone.
Your brand is critical to your continued success. Email is immediate - what you've spent a lifetime creating can be jeopardized in seconds, literally.
I know that many of you have been involved in strateg
Your brand is critical to your continued success. Email is immediate - what you've spent a lifetime creating can be jeopardized in seconds, literally.
I know that many of you have been involved in strateg
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ic partnerships, selling 'short-line' products and services that support you core offerings. You've been developing your business with them. You are already mailing your lists offering their products.
In the context of an email marketing strategic partnership -
In the context of an email marketing strategic partnership -
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
you're putting that program on steroids. Who will manage the list and the mailing? Will your valued customers receive your email, as well as emails from each partner - bombarding them and confusing them instead of exciting them with the opportunity?
There are lo
There are lo
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ts of issues, message design, content creation, the opt-in process, list segmentation, etc.
There are few business opportunities more potentially profitable for everyone than successful strategic partnerships. When you add email to the equation those benefits ca
There are few business opportunities more potentially profitable for everyone than successful strategic partnerships. When you add email to the equation those benefits ca
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
n be measured instantly and with proper list management and post mailing follow up - a successful strategic partnership will keep on giving for a very long time.
Remember those printing companies? Each owner was between 55 and 63. Each was facing the decisions a
Remember those printing companies? Each owner was between 55 and 63. Each was facing the decisions a
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
round succession or exit, or growth by adding to their physical plant and their debt and the corresponding increase in fixed overhead, or see their profitability eroded by their aggressive and larger competitors.
Each of the five firms were well respected in a d
Each of the five firms were well respected in a d
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
ifferent area of printing. One had invested a lot of money in wide format printers and was very well known for its digital printing. Another offered custom services for consumers - wedding invitations etc. And so forth.
Once the idea occurred to them, each saw t
Once the idea occurred to them, each saw 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
at as a group their combined services would allow them to compete successfully against anybody. Each had spent decades becoming well known and well respected in their niche. If they could package all five of their specialities together they'd be bigger and better
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
than anyone in their marketing areas.
So, they created a new name, business cards and stationary (that was easy) and collectively began the process of cross training their respective sales people. Now they each have five times as many sales people - at no addit
So, they created a new name, business cards and stationary (that was easy) and collectively began the process of cross training their respective sales people. Now they each have five times as many sales people - at no addit
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
ional fixed cost!
Now, when anyone is bidding a job they are bidding it for the group. If it's something their company does, they do it. If it's for one of the others they collaborate on the elements so the process from proposal to delivery is seamless.
They sp
Now, when anyone is bidding a job they are bidding it for the group. If it's something their company does, they do it. If it's for one of the others they collaborate on the elements so the process from proposal to delivery is seamless.
They sp
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ent months putting it all together. When it came time to do their email marking they already trusted each other, they knew how they would handle the leads and the ownership of their current and the resulting merged email list.
The work they had done to insure th
The work they had done to insure th
.
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
eir success was evident when the launched their email marketing campaign. 100% of the costs of setting up the partnership were recouped in 24 hours following their first emailing.
The number one comment people made was, "We didn't know you did that too" Careful
The number one comment people made was, "We didn't know you did that too" Careful
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
planning and positioning made all the difference.
That's why it's so critical that you get it right.
There are three more articles from the ClicK Email marketing conference on our web site. When you visit our blog, use the search feature with the keyword, Click
That's why it's so critical that you get it right.
There are three more articles from the ClicK Email marketing conference on our web site. When you visit our blog, use the search feature with the keyword, Click
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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