Key Factors in Conducting Successful Co-Promotions

The ability of two companies to integrate themselves into a working alliance ultimately drives the success of a co-promotion effort. This is especially true in the pharmaceutical industry, where companies are inherently very competitive. By gaining greater understanding of the critical success factors of co-promotions, pharmaceutical companies can work towards beneficial long-term relationships with partners. This three-page document details how pharmaceutical companies can develop and improve their own co-promotion system, increasing both strategic and tactical returns, including increased sales.

Key Topics

• criteria for partner selection
• management of co-promotion team
• allocation of roles, responsibilities in partnership
• management of marketing teams and dual sales force

• Seek partners who want to co promote and whose culture, strategy and needs fit your own.
  *One successful co promotion manager identified one approach to testing cultural compatibility: Determine the probable success of the partnership by pitching the drug to your partner as you would to a customer. This is an easy litmus test to evaluate the compatibility of corporate cultures.
• Consolidate control to one individual acting as a brand manager in each organization.
  *Co promotion executives note that this key brand manager, who is given full responsibility for the effort, must be a seasoned veteran in sales and marketing campaigns.
• Produce materials for training by one organization and share those resources with the other organization to minimize duplication of efforts.
  *Co promotion veterans point out that traditionally the larger partner creates and deploys the training curriculum for both companies. Therefore, the larger partner usually plans and performs all training during the co promotion's launch.
  

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