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With the growing popularity of podcasting, publishers and marketers around the world are asking themselves how to monetize th

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

is content channel.

Today we’ll be taking a look at how marketers can monetize podcasting through enhanced marketing activit

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

Examples of combination products may in

es.

While publishers might find it relatively easy to integrate podcasting in to their business models without really "creat

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

ng a revolution", the opportunities for marketers really go beyond traditional marketing tactics.

To understand the opportun

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

ty we need to understand what podcasting brings to the marketing table: the power of voice, delivered directly to our prospec

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

Combination pro

s, customers, employees and partners.

While text might still be the most "usable" format and the easiest to consume, voice i

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

self has the unique feature of being able to express emotion and bring personality in to marketing communications.

For marke

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

ters, monetizing podcasting won't come through ad sales or content sales, but through opportunities to enhance their marketin

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

communications with the power of emotion, delivered directly to their receipients.

Here are just some possibilities for you

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

to consider:

a] PR: Audio press releases, messages from company executives, expert interviews and other industry related mat

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

rial, all delivered directly to the media.

b] Direct marketing: Sales letters and other ad creative, delivered in audio and

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

Following aspects would a

irectly to your prospects.

c] Customer Relationship Management and User Support: Personal messages and greetings from compan

dd to the challenges in developing combination products:

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

executives, persoanlized messages to key clients by key account managers, educational content and industry interviews, semin

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

r or conference recordings, product support information and tutorials, ...

e] Promotion: Achieving additional company/brand/

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

product exposure by providing podcasts and promoting them via podcast directories and search engines.

f] E-commerce: Audio p

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

oduct announcements and presentations, delivered to prospects that opt-in to receive latest product information. In the case

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

Professional from academic institutions, pharmaceutical industries, health care indust

f audio products, podcasts can also carry short excerpts or previews of new editions, thus enticing prospects to order.

g] B

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

anding and Prospect Conversion: Educational content and industry interviews that help shorten the sales cycle or generate/imp

.

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

ove company credibility and enhance its brand.

h] Advertising in third-party podcasts

And so on ...

In these examples mone

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

Companies that provide selfless information through particip

ization does not come through directly generated revenues, but indirectly through improved sales.

Copyright 2005 Rok Hrastni

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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