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Advice Pool - Sales Prospecting for the Complex Sale
I probably receive more correspondence from salespeople who deal with long sales cycles, or what is commonly referred to as the complex sale, than from anyone else. They co
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
ntact me because they’ve seen my website or heard about my books and are skeptical about whether or not my lead-generation techniques can work for them, or if they only wor
; 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
k for commodity products with short sales cycles.
Stop! That’s what I usually say as I hear their objections. Stop jumping to conclusions without considering the possibili
Stop! That’s what I usually say as I hear their objections. Stop jumping to conclusions without considering the possibili
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ties first.
The fact of the matter is that the self-marketing systems I teach work even better for complex sales than for simple sales! The reason why is quite simple: Ru
The fact of the matter is that the self-marketing systems I teach work even better for complex sales than for simple sales! The reason why is quite simple: Ru
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
dimentary sales techniques such as cold calling will be more effective for simple sales. Something more sophisticated, however, will be required for the complex sale. To me
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
this is basic common sense, but for some reason, people have a tendency to get it backwards. Nearly everyone I talk to says that my self-marketing systems are probably fine
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
for commodity products, but that complex sales will require cold calling! Like I said, they have it backwards.
There are a number of reasons why this is so. Rather than e
There are a number of reasons why this is so. Rather than e
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
laborate on theory, here are some points to consider as to why self-marketing techniques work even better with complex sales:
1. If you are involved with long sales cycle
1. If you are involved with long sales cycle
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
products or services, you need to have more than a business card and brochure on your side. You need to have your own website. I don’t mean your company’s website – I mean
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
your very own personal website, just for your prospects and customers.
2. Since you are selling a complex product, it’s very important that your prospects are educated o
2. Since you are selling a complex product, it’s very important that your prospects are educated o
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
it. Think about it – isn’t one of the biggest challenges in selling complex, or high-ticket products, the simple fact that most prospects fail to realize what the benefits
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
are to them? By having a well-educated prospect base, you increase your odds of closing them. You do this through a good e-mail newsletter, not something that pitches them
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
to buy from you every week or month or however often you choose to send it out, but rather something that benefits the prospect by educating them in areas either directly
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
or indirectly related to your area of expertise.
3. In addition to educating your prospects, your e-mail newsletter serves to place you in the position of a leader and a
3. In addition to educating your prospects, your e-mail newsletter serves to place you in the position of a leader and a
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
recognized expert in your field. This is extremely important, because once you have accomplished this, your competition doesn’t stand a chance! Everyone wants to deal with
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
he recognized expert, not the amateur who wastes his time by cold calling.
4. From this moment on, your primary goal in making new contacts should be to get them on your
4. From this moment on, your primary goal in making new contacts should be to get them on your
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
newsletter list and visiting your website. Your job from now on is to get them into your system, which will keep them in your pipeline permanently and will establish your c
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
redibility as the recognized expert, and the only person to buy from.
As you can see, there is a lot more to self-marketing than the myth that it is nothing more than send
As you can see, there is a lot more to self-marketing than the myth that it is nothing more than send
.
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
ing out mailers and hoping someone will call. The very basic steps I’ve described here will do wonders for your sales – you will amass a huge list of prospects who hear fro
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
m you on a regular basis, automatically, but even better, they will look up to you as the undisputed expert in your field, and won’t even bother talking to your competition
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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