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E-Folder - Avoiding the Customers You Don't Want: The 10 Warning Signs of Trouble
The truth is, not all customers are equal. It's common knowledge: to succeed, we must concentrate our marketing efforts on the customers who are most profitable.
I believe that the obverse is true, too. At the other side of the profitability bell curve is that pool of customers who drain our time, talent a
I believe that the obverse is true, too. At the other side of the profitability bell curve is that pool of customers who drain our time, talent a
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
nd energy, customers so enervating that they are not only not profitable, they represent real losses in money and momentum.
I call these potential customers the Pain-In-The-Assets or PITA Prospects. Fortunately, you can frequently identify them within the first ten minutes of conversation. While the followi
I call these potential customers the Pain-In-The-Assets or PITA Prospects. Fortunately, you can frequently identify them within the first ten minutes of conversation. While the followi
; 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
ng observations may be drawn from the field of marketing consulting, I’m sure you’ll recognize (perhaps with a sigh) some of the tell-tale danger signals all professional service providers inevitably cross in their careers.
1) “I’ve tried X, and X just doesn’t work.”
Advertising. Websites. Databases
1) “I’ve tried X, and X just doesn’t work.”
Advertising. Websites. Databases
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
. Your would-be customer insists that they’ve already tried a common, business-tested tactic and found failure where others have succeeded. Instead of analyzing why it went wrong, or making the effort to learn from their experience, they assume the tactic itself is flawed. So they reject your very reasonable
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
recommendation and move on to some other “magic bullet” solution. Which, given their impatience, is also likely to fail.
2) “My cousin’s nephew will handle the coding.”
Ah, a two-fer danger signal. First, a desire to “save money” by consigning important work to an amateur (plus an implied disrespec
2) “My cousin’s nephew will handle the coding.”
Ah, a two-fer danger signal. First, a desire to “save money” by consigning important work to an amateur (plus an implied disrespec
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 for real, professional expertise). But as an added bonus, you get the specter of family politics. Any criticism on your part, no matter how diplomatic, becomes an assault on a loved one. Run!
3) “I love the way Microsoft does this.”
Yeah, me too. And if I had a loose $250 million lying around, I’m
3) “I love the way Microsoft does this.”
Yeah, me too. And if I had a loose $250 million lying around, I’m
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
sure that’s the direction I’d go as well. But I don’t, and that’s one of the reasons mere mortals, such as myself, have to do things differently. More modest resources demand alternative methods and adjusted expectations. Beware clients who set unreasonable expectations based on comparisons to businesses se
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
eral leagues above themselves.
4) “You know, I showed this to my neighbor and now I have second thoughts”
You’ve spent weeks conducting research, compiling information and composing plans. After several more weeks of discussions, negotiations and long, tedious meetings, the client has finally achiev
4) “You know, I showed this to my neighbor and now I have second thoughts”
You’ve spent weeks conducting research, compiling information and composing plans. After several more weeks of discussions, negotiations and long, tedious meetings, the client has finally achiev
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ed internal consensus and committed to a plan. Or so you thought. One day you get a phone call out of the blue: your client contact discussed your plan with his neighbor (the propane salesman – the brilliant nephew coder must have been busy that day) and now, based on one over-the-fence conversation with som
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
eone who knows absolutely nothing about the business at hand, the entire project is torpedoed. Yes, it is time for second thoughts – your own. Dump this client.
5) “Our budget is kind of tight on this.”
You look around your client’s office. There’s plenty of money to spend on $1,000 office chairs, g
5) “Our budget is kind of tight on this.”
You look around your client’s office. There’s plenty of money to spend on $1,000 office chairs, g
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ourmet coffee brewers and the collectible pinball machines in the corner. But not for your particular project. Is this really an issue about money? Or is it about what the client really values? If something is worth doing right, it’s worth spending money on. No money? No you.
6) “We’ve tried four vendors
6) “We’ve tried four vendors
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
already and none of them could ‘get it.’”
Sure, we usually believe that we’re better than our competitors, but our honesty compels us to acknowledge that, on the whole, most of them are fully competent and capable professionals. One or two may let a client down, but when it becomes three or four or mor
Sure, we usually believe that we’re better than our competitors, but our honesty compels us to acknowledge that, on the whole, most of them are fully competent and capable professionals. One or two may let a client down, but when it becomes three or four or mor
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
e, I get suspicious. When there’s a high burn-through rate, chances are the fault lies with the client’s working process, not with all the vendors.
7) “Give us a big discount on this – there’ll be lots more work ahead.”
Such a deal! Do this project for less than its worth – and maybe you’ll earn the
7) “Give us a big discount on this – there’ll be lots more work ahead.”
Such a deal! Do this project for less than its worth – and maybe you’ll earn the
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
opportunity to do many more cut-rate, nickel-and-dime projects in the future. Again, this is about values. A prospect who makes price the top criterion for choosing a vendor is not the kind of client who respects quality work.
8) “Why? Because my competitors are doing it this way.”
There are lots o
8) “Why? Because my competitors are doing it this way.”
There are lots o
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
good reasons for pursuing a policy – but to follow a competitor’s path usually isn’t one of them. You often don’t know why a competitor takes a particular action, and more importantly, without data regarding its effectiveness, you don’t know whether it works. A competitor’s behavior is poor rationale for an
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
important business decision – but the application of that rationale is a clear sign of trouble.
9) “We need your quote tomorrow.”
Drop everything, because this is a rush, rush, rush. No matter that there’s no time to gather relevant information or assess the true scope of the project – your detaile
9) “We need your quote tomorrow.”
Drop everything, because this is a rush, rush, rush. No matter that there’s no time to gather relevant information or assess the true scope of the project – your detaile
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
d quote has to be surrendered right now. But funny thing…
10) “We’re still reviewing your proposal.”
A few weeks have passed since you and your team stayed up until 2:00 in the morning to hammer out the proposal your prospect just absolutely had to have in the morning. But the initial deadline for t
10) “We’re still reviewing your proposal.”
A few weeks have passed since you and your team stayed up until 2:00 in the morning to hammer out the proposal your prospect just absolutely had to have in the morning. But the initial deadline for t
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
he company’s decision has long passed and you can’t get straight answers from any of its representatives. Okay, so maybe that’s the way business goes sometimes. But if you eventually do get the work, guess what? The original deadline for deliverables will remain in effect, even though there’s now half the ti
.
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
me to get the job done. Consider this bad start an ill omen.
A final observation.
To some degree, all customers present their own unique challenges. Part of our responsibility as professionals is to rise to these occasions, to deliver that extra edge of service or brilliance or persistence our clien
A final observation.
To some degree, all customers present their own unique challenges. Part of our responsibility as professionals is to rise to these occasions, to deliver that extra edge of service or brilliance or persistence our clien
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
ts may require.
But when the relationship begins on faulty grounds – when the customer shows carelessness or lack of respect for your experience and expertise – watch out and reconsider. It may be time to cut your losses and move beyond the PITA prospects to serve the customers who deserve your best efforts
But when the relationship begins on faulty grounds – when the customer shows carelessness or lack of respect for your experience and expertise – watch out and reconsider. It may be time to cut your losses and move beyond the PITA prospects to serve the customers who deserve your best efforts
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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