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Top Adding - Are You Giving Away The Milk For Free?
A subscriber to my marketing tips newsletter wrote me to ask what I think is a common question, especially in some work at home markets. Her question was basically asking w 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 hether she should give freebies away without requiring an opt in. She says: "I have heard conflicting ideas on what's proper. I offer free stuff, ebooks mostly, to my cust ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in omers. It's all listed on a page called (keywords here)- Well I just wrote a new ebook that I am going to feature, however, I am not sure how to market it. I have heard so lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. me people say you need to have people sign up for your newsletter in order to get free stuff - then others say that that's not fair to make someone do something to get some here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe thing - so that's why I stopped making people sign up for to get the free stuff. So do I make the person have to sign up for our newsletter in order to get the new ebook?" d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro I got her permission to post this here because, as I said, I think this is an important issue in certain markets. Here was my response: I do both. I have freebies that I o 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 nly offer to subscribers, and other things I give away freely on my sites without requiring an opt in. It depends on my purpose. If I create a free report that is monetize 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 d with affiliate links and that I want to spread virally, I might not require an opt in. But I want to make an important point here: There is absolutely nothing wrong w nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically ith requiring an opt in before you give away valuable content! Think about it – this is smart marketing and businesses do it all the time. The local grocery store give 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 s out samples on Saturday. But you have to show up in the store (where they know you’re going to buy stuff) to get the freebies. My local Starbucks has free leftover packe ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi s of ground coffee. But it’s right at the register where you’re paying for the latte in your hand! Have you ever gotten a free trial issue of a magazine? What do the publi ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a shers have? That’s right – your name, mailing address, maybe even your email and credit card number. What about you? Have you heard that it's wrong to ask for an opt in to dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod give someone a freebie? Pardon the expression, but are you giving away the milk for free? We're in business to make money. There's no shame in that! You're not in cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin this for fun (although you should be enjoying yourself). You want to put food on the table for your babies. Why shouldn't you require something in return for your valua tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen ble information? Don't listen to anyone who tells you that it’s wrong to require an opt in from your website visitor. My guess is that they fear money or success, and 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 ren't a very reliable source of business advice. Part of this thinking comes from a scarcity mentality that says: “If I make them opt in, they won’t do it and I’ll lose ou ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust t on their business.” Honey, here’s the honest truth. If they won’t give you their email address and first name, they wouldn’t have become your customer anyway. When it c y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products omes to list building, quality is much more important than quantity. One hundred subscribers who trust you and look forward to your content arriving in their email inbox ar . 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 e more valuable than a thousand faceless “hits” to your website. So be a smart cookie. Stop giving away the milk for free. Your subscribers won’t mind making a commitment elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip by signing up for your newsletter in order to get the freebie. If it’s quality information that your target market wants, they’ll kindly exchange their contact info for it 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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