Actual - Writing and Speaking

I often suggest public speaking as a powerful way to show prospective clients what you can do. Many professionals and consultants have built successful practices by giving free presentations to associations

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

, businesses, and educational institutions. But what about producing your own seminar, where you arrange the logistics and invite the guests? Does this work as a strategy for landing clients?

Offering a se

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

Examples of combination products may in

minar can be an effective means to become more visible to your target market. If you are a good (or even fair) presenter, and the right people come to your seminar, you will definitely get new customers. Bu

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

t to use seminar marketing successfully, you need to be very clear on your goals, and plan each seminar carefully.

If the purpose of your seminar is primarily to get clients, you shouldn't be expecting to

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

ake money on the seminar itself. You may wish merely to cover your expenses, or maybe even spend a little extra. For this type of seminar, the key to making it pay off is to attract people who are good pros

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

Combination pro

pects for your business in the first place, rather than just filling the room.

Instead of making your seminar free, it's a good idea to charge a small fee. That way, your prospective clients will perceive

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

you as offering something of value. The fee will also discourage attendance by people who can't afford your product or service. It's the quality of the participants that matters, not the quantity.

If what

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

ou really want is for your seminar to turn a profit, you must recognize that by offering full-fee seminars, you are adding another line of business to your company. Operating as a seminar producer will requ

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

ire the same kind of planning and ongoing management as your existing business does.

It can be as difficult to make a profit on your first seminar as it was to originally launch your business. Many people

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

won't sign up for a seminar the first time they see it; others would like to come but can't make the date. You'll have a better chance of making money if you plan at the outset to offer your seminar on a re

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

ular basis. You may find, though, that this takes away too much time from your core business.

Whether the seminar you are planning is promotional or for profit, estimate your projected income and expenses

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

Following aspects would a

before making a commitment to proceed. Base the income you project solely on the fee you will charge per person multiplied by the number of attendees you expect. Don't include any projected spinoff business

dd to the challenges in developing combination products:

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

in your income estimate. If you land new business, you will still have to work additional hours to earn that compensation.

Typical expenses include design and printing of a flyer or brochure, postage, pos

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

ting a notice on your website, purchase of mailing lists (if you don't have your own), print and Internet media ads (including calendar listings), facility rent, audiovisuals, handouts, and refreshments. Yo

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

should also consider the cost of your own time to design promotional materials, compile lists, compose e-mails, and make phone calls, as noted below.

In designing a snail mail or e-mail campaign for your

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

seminar, keep in mind that it is quite typical to get only one registration for every 100 pieces you mail, even with a pre-qualified list.

Subtract your projected expenses from your income, then make a rat

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

Professional from academic institutions, pharmaceutical industries, health care indust

ional decision on whether to proceed. If the purpose of your seminar is to get business, estimate how much spinoff business is likely. Before going ahead, ask yourself if there might be an easier or cheaper

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

way to get that many new clients or contracts.

If your purpose is to make money, divide your expected profit by the number of hours it will take you to design, market, and deliver your seminar. Is that amo

.

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

unt a reasonable level of compensation for you?

If your best guess at the numbers tells you that producing a seminar makes good business sense for you, go for it! Because people do business with those they

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

Companies that provide selfless information through particip

know, like, and trust, seminars can help you build a solid client base. And because repeat contacts raise awareness, mailings and ads about your seminar will generate more visibility for your core business

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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Sales, marketing and advertising have changed. People want more than just features, benefits and price. This article helps you learn some new ways to make more sales by helping your customers make better buying decisions. We now live in an information-rich economy where consumers expect to be well informed before they make a buying decision. In the past, we could throw simple ...

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