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Business Articles - The Top 5 Benefits of Email Marketing
As a small business owner, a big part of your success relies on maximising your sales while minimising your expenses. Email marketing can be a great vehicle to do both.
A good email marketing campaign can help you:
- Increase your sales conversion
- Generate repeat sales
- Up-sell and
A good email marketing campaign can help you:
- Increase your sales conversion
- Generate repeat sales
- Up-sell and
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
cross-sell products and services
- Gain valuable feedback from your visitors
- Drive web users to make offline purchases
1. Increase Your Sales Conversion
Regardless of how good your product or service is, in reality most visitors to your site won't convert into sales on their first vi
- Gain valuable feedback from your visitors
- Drive web users to make offline purchases
1. Increase Your Sales Conversion
Regardless of how good your product or service is, in reality most visitors to your site won't convert into sales on their first vi
; 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
sit.
In fact, research indicates that it takes the average shopper up to nine visits before they'll make a buying decision. In other words, every effective sales process requires an element of repetition.
Think about the times when you've picked up a new product at the supermarket after seeing it
In fact, research indicates that it takes the average shopper up to nine visits before they'll make a buying decision. In other words, every effective sales process requires an element of repetition.
Think about the times when you've picked up a new product at the supermarket after seeing it
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
advertised on TV a dozen times. Or a time where you've visited a new local restaurant after driving past it every day on your way to work.
That's repetition in action, but unlike a 'bricks-and-mortar' retail store, there is no 'drive-by' traffic on the Internet. In many cases when someone clicks on
That's repetition in action, but unlike a 'bricks-and-mortar' retail store, there is no 'drive-by' traffic on the Internet. In many cases when someone clicks on
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
the little 'exit' button in the top right hand corner of the screen... they're gone forever.
On top of that, there are numerous ways someone can get distracted while visiting your website. For example, let's say you run a website selling baby prams.
A mother is surfing through your site and finds
On top of that, there are numerous ways someone can get distracted while visiting your website. For example, let's say you run a website selling baby prams.
A mother is surfing through your site and finds
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
a product she likes - but before she gets a chance to add the item to her shopping basket ....
- The phone rings
- The baby starts crying
- She accidentally closes off the web browser
- She receives an email that requires attention
- A delivery man rings the door bell
Rega
- The phone rings
- The baby starts crying
- She accidentally closes off the web browser
- She receives an email that requires attention
- A delivery man rings the door bell
Rega
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
rdless of the reason - if she leaves the site there's a 90% chance you've lost the sale... unless you've managed to capture her email address.
If you've got her email address, you get a second chance. You can email her with:
- Your monthly newsletter
- Your free report on 'How to Choose the
If you've got her email address, you get a second chance. You can email her with:
- Your monthly newsletter
- Your free report on 'How to Choose 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
Perfect Pram'
- Information about new models
The bottom line is, capturing an email address gives you a 'Plan B' and allows you to follow-up with someone after they've left your website.
2. Generate Repeat Sales
Getting new customers is hard work - it's also really expensive.
In fact, it
- Information about new models
The bottom line is, capturing an email address gives you a 'Plan B' and allows you to follow-up with someone after they've left your website.
2. Generate Repeat Sales
Getting new customers is hard work - it's also really expensive.
In fact, it
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
can be up to eight to ten times more expensive to acquire a new customer than to sell to an existing one. To acquire new customers, you have to factor in the cost of advertising, educating and selling to them.
Therefore, a big chunk of the initial sale is simply recouping the costs you've outlaid t
Therefore, a big chunk of the initial sale is simply recouping the costs you've outlaid t
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
o get the customer in the first place.
And while new sales are great, we can't emphasize strongly enough the value of repeat sales. Too often, businesses focus only on the initial sale and forget about the lifetime value of a customer.
Keeping in touch with customers on a regular basis via email a
And while new sales are great, we can't emphasize strongly enough the value of repeat sales. Too often, businesses focus only on the initial sale and forget about the lifetime value of a customer.
Keeping in touch with customers on a regular basis via email a
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
llows you to generate repeat sales which can be up to four times more profitable than the initial purchase.
A good email marketing campaign will increase the frequency of repeat purchases from your existing customers.
3. Up-sell and Cross-sell Products & Services
"Would you like fries with that?"
A good email marketing campaign will increase the frequency of repeat purchases from your existing customers.
3. Up-sell and Cross-sell Products & Services
"Would you like fries with that?"
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
McDonalds makes billions of dollars every year from this basic up-sell.
When appropriate, email provides a great opportunity for you to up-sell and cross-sell your products and services.
For example, if you run a website that sells tennis gear, someone purchasing a new tennis racket might also b
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 interested in tennis balls and other accessories.
By using simple email marketing software, it's easy to create a series of email messages (called 'Auto-Responders') that will automatically follow-up with offers on tennis balls, tennis shoes, tennis clothes and so on.
If you're selling a service
By using simple email marketing software, it's easy to create a series of email messages (called 'Auto-Responders') that will automatically follow-up with offers on tennis balls, tennis shoes, tennis clothes and so on.
If you're selling a service
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
, like dry cleaning, once a customer has made an initial purchase you can use email to follow up with related services, like ironing business shirts and stain removal.
This basic technique by itself can easily add an extra 30% to your average order value and is used by almost all major companies on
This basic technique by itself can easily add an extra 30% to your average order value and is used by almost all major companies on
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
line.
Amazon.com uses up-selling and cross-selling extensively on their site. If you buy a book about 'home renovations', they'll follow up with a list of other books on the same topic.
Dell Computers offers printers and other accessories as up-sells to people purchasing computer systems.
4. Gai
Amazon.com uses up-selling and cross-selling extensively on their site. If you buy a book about 'home renovations', they'll follow up with a list of other books on the same topic.
Dell Computers offers printers and other accessories as up-sells to people purchasing computer systems.
4. Gai
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
n Valuable Feedback from Your Visitors
Customer feedback is an invaluable tool for any business. This feedback allows you to determine:
- What products and services to provide
- Who to target
- What the market is willing to pay
Email in particular provides your customers with a unique
Customer feedback is an invaluable tool for any business. This feedback allows you to determine:
- What products and services to provide
- Who to target
- What the market is willing to pay
Email in particular provides your customers with a unique
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
opportunity to give honest feedback. Unlike face-to-face interaction where people can be shy about voicing their true feelings, email allows them to get right to the point.
By using email as a feedback tool you can adapt to what the market wants and improve your business.
5. Drive Web Users to Ma
By using email as a feedback tool you can adapt to what the market wants and improve your business.
5. Drive Web Users to Ma
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ke Offline Purchases
Surprisingly, email marketing is often a catalyst for web users to go and make a purchase offline. When surveyed, 59% of email users said that they have made a purchase offline after receiving an email promotion.
Why? Sometimes a user will find something they want online but t
Surprisingly, email marketing is often a catalyst for web users to go and make a purchase offline. When surveyed, 59% of email users said that they have made a purchase offline after receiving an email promotion.
Why? Sometimes a user will find something they want online but t
.
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
hey need it straight away and can't afford to wait for delivery. Other times, the product might need to be demonstrated (like a treadmill) and they want to see, touch and feel the item.
If you run a conventional offline business you can use email marketing to drive foot traffic through your door.
If you run a conventional offline business you can use email marketing to drive foot traffic through your door.
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
Final Thoughts
Because email marketing has such low overheads, every sale generated from your campaign is pure profit.
Regardless of the product or service you sell, if you're not taking advantage of email marketing, you're losing money.
So what are you waiting for? Start building that list now!
Because email marketing has such low overheads, every sale generated from your campaign is pure profit.
Regardless of the product or service you sell, if you're not taking advantage of email marketing, you're losing money.
So what are you waiting for? Start building that list now!
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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