Main Subject - Business

How do you acquire new clients?

o Face-to-face networking

o Referral only

o Cold calling

Whatever method you use to gain a new client the #1 thing you can

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

never forget is to show them, all of them, how much you care.

Let me share my dating analogy with you...

When you're on a first date, you're on your

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

Examples of combination products may in

best behavior (and being authentic the entire time).

On your first date (aka: first meeting) you ask lots of questions to get to know this person better - t

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

eir likes, dislikes, passions, aspirations.

Armed with this knowledge, you're now able to do little things for them you know they'll enjoy; send them their f

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

avorite flowers, prepare their favorite meal, suggest a movie or play you know they'll like. You get the idea.

Soon after the first meeting you follow-up for

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

Combination pro

fear they might be wined and dined by someone else.

Before you make your "first move" you test the waters and look for the signals that it's okay to

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

ake a next step. Once an agreement has been made to get more "serious" you absolutely do NOT stop courting them...not if you want this relationship to last.

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

Like dating, at every stage of the business courtship you must show your future clients and customers how much you care about them in a genuine way. This take

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

s strength of character (moving in for a more serious commitment before they are ready is a huge turn off - in dating AND in business) and strong leadership.

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

After you've gained a new client, you can't stop the courting process, you must continue to make them feel special. In other words, you must appeal to their h

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

eart. How else will you convert them into a raving fan of your brand? Get their repeat business? Ensure that they provide you with referral business?

It's mu

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

Following aspects would a

ch too costly to book a new client, put them aside to then go chase after another new client especially when you consider what it costs you to get one new cli

dd to the challenges in developing combination products:

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

nt.

When you factor in the cost of mailings, networking dues and fees, follow-up calls, and don't forget the VALUE of your time, it is EXPENSIVE
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
> to get just one new client.

Why not nurture that investment by making it your business to keep them with you for the long haul.

Do that, and you'll have a
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
corral of brand cheerleaders that are singing your praises and sending YOU more business. It's not complicated stuff folks. It just takes shifting your minds
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
t and re-prioritizing your business practices.

It is said that to lead yourself you must use your head and to lead others you must use your heart. I'll add t
ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust
hat if you can't use your heart you won't appeal to theirs.

Happy courting!

ACTION STEP:

How are you courting your clients - current and past? Wh
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
at one action can you implement this week that will keep you connected to them?

Some options include:

Timely handwritten thank you notes within
.

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
days of a meeting

Collecting and mailing article clippings from magazines and newspapers that you know is a value to them

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

Companies that provide selfless information through particip
u> thank you gifts; coffee cards, gift certificates, etc.

Unexpected discount on your product

©2007 Liz Pabon. All rights reserved

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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Main Subject - How To Woo Your Clients and Keep Them for Life

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