Other Articles - Business

Question: What is one of the easiest ways to get a sustained increase in sales in your travel business?

Answer- track and monitor the amount of people you give a quote to versus the number people who buy.

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

Look at ways of improving the conversion rate to sale.

Now this sounds simple but in theory hardly any travel business or any business does this effectively. But I am convinced after coaching 146 busines

; 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 that this is one of the easiest ways to get sustained improvement.

Please consider this example: If ten people come through your travel business and all get a quote from you for some future travel arra

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

gement. Obviously some will buy; usually 30% of people on average. Consider the ramifications if you were able to double this ratio to 60% over a 12 month period.

If you can do this you have just doubled

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

our business. What a great travel business opportunity this is. And I assure you it is possible.

So how do we achieve a higher conversion rate to sale? The idea is to have uniqueness about how you delive

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

Combination pro

information to your enquirer. The worst thing you can do is to give a quote out just like your competitors. You need to stand out.

The best thing to do is to add as much information into your quoting sys

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

tem to really impress upon people all the advantages and benefits of dealing with your agency.

You see there is more to everyone’s decision than just price. They need to know if they can trust you as the

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

onsultant, the agency, the service or product you offer them and whether you will give them the service they require.

Therefore to alleviate these thoughts your quotations should become travel plans of ac

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

ion.

What I suggest here is to make your quotations completely stand out in the industry by including in a professional looking information pack. This quotation system could include:

a) An introductory l

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

tter welcoming them.

b) Vision and mission statement.

c) 7 Reasons why you should use your agency.

d) Guarantee in writing.

e) Testimonials from delighted previous clients.

f) A brief bio about you as

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

their consultant and information on the agency.

g) The quotation on their travel arrangements.

h) Any supporting brochures or flyers on the product you are offering.

Do this and you will stand out. Peop

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

Following aspects would a

le cannot just judge you on price alone. People now have the facts on how you will benefit them in so many ways. Prospects have price, service, professionalism and reputation to consider when making a deci

dd to the challenges in developing combination products:

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

ion to use you or not.

If there is nothing different about you, prospects will only buy from you because of convenience and price – nothing more. Therefore you will be committing business suicide in a pri

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

e driven industry.

It becomes very difficult to effectively come out of the price spiral once you have entered. Because your prospect will come to you expecting the cheapest price and the times you are no

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

their cheapest option they will often move on to the opposition.

You have probably experienced the situation where the prospect goes back and forth between you and the other travel agency competing only

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

n price. You undercut the other agency that in turn undercuts your price. This is a dangerous situation for your margins especially.

So you see uniqueness is critical to your success. Stand out in the way

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

Professional from academic institutions, pharmaceutical industries, health care indust

you quote people. Put a big effort into getting this right. Uncover what is special about you and the agency and then shout it out loud. Advertise it if necessary and put it on your stationary. Then stand

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

back and watch your conversion rate to sale increase.

Implementation

You must stand out from your travel agent competitors so your prospects remember you and see a point of difference.

Uniqueness gets l

.

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

ts of attention.

Include in your Travel Plans all the information that makes you stands out, delights your clients, and anything that promotes your expertise.

Include testimonials or third party endorsem

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

Companies that provide selfless information through particip

nts.

Never just focus on price but focus on ALL the great things you can do for your client. A great travel business opportunity awaits you. Take action and see for yourself the difference this can make

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.otherarticles.org.ua/article/24848/otherarticles-A-Key-Travel-Business-Opportunity-For-Sustained-Sales-Growth.html">A Key Travel Business Opportunity For Sustained Sales Growth</a>

BB link (for phorums):
[url=http://www.otherarticles.org.ua/article/24848/otherarticles-A-Key-Travel-Business-Opportunity-For-Sustained-Sales-Growth.html]A Key Travel Business Opportunity For Sustained Sales Growth[/url]

What's your Brand Style? Do you have a Dedicated Brand? Is there a reason to promote your business with a solid Brand Identification that can make your business Successful? Of course there is, let me show you!

It would seem that the topic of customer service has been beaten to death. I mean, everyone has great customer service, don’t they. You’d think so with all that advertisements asking to choose a business because they have better customer service. The problem is that I don’t think most companies, businesses, organizations or people in general really understand what good if not great customer service means.

In an information rich society, too many people are still starving their decisions of enough of the right information.

Tags

Links

Other Articles - A Key Travel Business Opportunity For Sustained Sales Growth

Related Articles: