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If you've been online for more than a day you've probably heard some "guru" somewhere recommend that you create a Money Magnet Web Site - a site that is highly automated and helps you make money 24 hours a day. While that might *sound* great, what they often forg

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

et to tell you is HOW to do that.

Well, I'm going to tell you right now, in this article!

First, what IS a Money Magnet Web Site? A Money Magnet Web Site can be defined as one that is equipped with an integrated suite of both e-commerce and internet marketing t

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

Examples of combination products may in

ols in a fashion that will allow you to be the most profitable with the least amount of effort.

Most e-commerce systems are equipped with the following essentials:

- A shopping cart.
- Acceptance and processing of credit cards.
- A maintenance system th

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

at allows you to add/change products.
- An order-rerieval system that enables you to fulfill orders.

However, what most of them are lacking are marketing tools. There are several marketing strategies that are essential in the creation of a successful e-co

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

merce web site:

- Email marketing (broadcasting) of prospects/customers
- Effective use of autoresponders (generate automatic email messages)
- Online Newsletter
- Online Form / Survey to capture your prospect's email address
- Electronic Produ

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

Combination pro

ct Delivery (if you sold a digital product)
- Advertisement (Ad) Tracking
- Back End Sales
- Affiliate program

Now, if you had a system that would support the integration of ALL of these marketing tools in addition to the necessary e-commerce e

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

sentials, then you would have a Money Magnet Web Site. After all, it has been shown that it often takes 7 or more ad exposures before prospective customers actually make a purchase. Consider the following scenario:

A prospect clicks on an advertisemen

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

t in an online magazine. This action increments a counter for this particular ad to help you determine how well it’s working. They don’t decide to buy as of yet but join your newsletter. They are now considered a prospect. You begin to send them a monthly ema

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

l newsletter. Additionally, an autoresponder kicks in to thank them for joining the newsletter as well as scheduling them to get email twice a month for the next 90 days reiterating your product benefits and inviting them to purchase.

Upon sending them one

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

of your "juicy" offers that they couldn't refuse, they finally purchase. They will automatically be removed from your prospect list and added to your customer list.

Based on the particular product or service they’ve purchased, they will receive a series of

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

mails every two weeks for the next 6 months offering complementary products. This will be the engine that will drive your back end sales and keep your customers coming back to your web site.

Being able to play out a scenario such as this using one

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

Following aspects would a

integrated system would be pretty impressive don’t you think? The internet big boys do this with expensive e-commerce platform suites produced by vendors such as IBM, Microsoft and Oracle. Having your system automatically perform these follow up tasks frees you u

dd to the challenges in developing combination products:

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

to spend more time on your business, your health or your family!

=====> What can you do to obtain a money magnet web site?

Fortunately, there are ways that you can automate your website in much the same way that the big boys do. The best and most cost-effectiv

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

e way would be to sign up with one of the handful of Application Service Providers available on the internet which provide a shopping cart integrated with a full suite of marketing tools. Normally, the shopping cart and tools are very flexible and can be incorp

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

rated into any website.

=====> Are there any other ways to automate your business besides working with a total solution provider?

You can accomplish some level of automation without an integrated shopping cart system, however, it will require manual intervention

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

and of course it would be incomplete. I believe that the most important asset of your e-commerce business is your email lists. Therefore, concentrate on the implementation of a good autoresponder/list server system to "enhance" your present e-commerce website

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

Professional from academic institutions, pharmaceutical industries, health care indust

There are several good ones on the market. Look for providers that allow you to:

- Create multiple lists.
- Add prospects via a web form, email, or manually through a management console.
- Send out an unlimited number of autoresponder messages.

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

- Send out an unlimited number of email broadcasts.
- Set up and distribute a newsletter.

When setting up your autoresponder system, create one list for your "prospects" and another one for your "customers". Now, here's where you come in: when a person o

.

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

ders your product, you will have to perform the extra task of logging into your autoresponder system and manually remove them from the prospect list and add them to the customer list. This action will then trigger your customer autoresponder series of messages t

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

Companies that provide selfless information through particip

o be sent.

Remember, the key to building a successful e-commerce web site is to automate your marketing engine as much as possible and drive your prospects and customers back to your web site. This will certainly create a money magnet e-commerce web site for you

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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Successful people have a deep understanding of their own minds. They're aware of their needs, their strengths and weaknesses, and their emotions. They're honest with themselves and resultantly, with their customers and their team.

Trade shows are all about promotion. To maximize your success it is imperative to make promotional efforts above and beyond merely showing up at the next event.

What is the best way to get connected? Being Interactive. This means you get involved and stay involved. You will then know what is happening around you. And the more you know the more successful you will be.

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