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Suggest - Need New Direct Mail Donors? Look For These Three Qualities For Fundraising Letter Success
New donors are a lot closer than you may think. And
persuading them to make that vital first donation
need not be as hard—or as
expensive—as acquiring
them in other ways.
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
r>
But before you rent a list of names or drop anything in the mail, examine the people you are approaching with your direct mail appeal to make sure they are good prospec
But before you rent a list of names or drop anything in the mail, examine the people you are approaching with your direct mail appeal to make sure they are good prospec
; 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
s for a donation today—and
tomorrow.
You should look for three qualities in potential direct
mail donors.
1. Capacity to give
Good direct mail fundraisin
1. Capacity to give
Good direct mail fundraisin
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
g prospects have the
resources to support your organization with gifts.
They do not need to be millionaires (since you will
accept small donations). They do not even need to
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
e employed (since many pensioners donate a
portion of their fixed income to their favourite
charities). The criteria you are looking for is simply
the capacity to give.
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
r>
2. Affinity with your cause
The best prospects have a natural liking for your organization. They identify with the people you help or the cause that you champion.
The best prospects have a natural liking for your organization. They identify with the people you help or the cause that you champion.
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
You are more likely
to attract financial support and gain new donors
when you mail your acquisition letters to people who
already believe in what you stand for.
3
3
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
. Long-term, profitable relationship
Raising funds through the mail is a long-term proposition. What you are looking for is donors who will support you over time. One-ti
Raising funds through the mail is a long-term proposition. What you are looking for is donors who will support you over time. One-ti
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
e donations are
welcome, of course, but if they are too small they do
not even cover the cost of acquisition. You want
donors, not just donations.
One reason that c
One reason that c
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
harity sweepstakes and lotteries
are such an expensive way to raise funds is that
they tend to raise money in the short-term only, and
do not attract long-term, faithful, loyal
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
donors who
are committed to your cause.
So you need to look at every source of potential donors and ask yourself this question, “What is the likelihood that these pr
So you need to look at every source of potential donors and ask yourself this question, “What is the likelihood that these pr
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
ospects will not only respond
to my mailing with a gift now, but will also follow
through in the years to come with others gifts?”
One mistake to avoid
One
One mistake to avoid
One
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
mistake that inexperienced fundraisers make is
thinking that their best prospects for direct mail
appeals are big businesses and well-known, wealthy
people. When they think of
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
who to mail their appeals
to, they immediately think of Bill Gates of
Microsoft—not Bob Gates down the street.
They think of extraordinary businesses—not
the ordinary busines
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
owners that operate all around
them.
This is a mistake because it concentrates attention on only one obvious criteria of donor acquisition—capacity to give—and i
This is a mistake because it concentrates attention on only one obvious criteria of donor acquisition—capacity to give—and i
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
gnores the other two.
Take Bill Gates by way of example. He meets your first criteria, since he is the wealthiest man in the world. He has the capacity to give you a d
Take Bill Gates by way of example. He meets your first criteria, since he is the wealthiest man in the world. He has the capacity to give you a d
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
nation,
the largest you’ve ever received. But if your
organization is at all typical, Bill Gates has little or
zero affinity with your cause and does not even
know about you.
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
Which means Bill Gates is not a
long-
term prospect, or even a prospect at all, for a direct
mail solicitation.
So the thing to bear in mind whenever you are looki
So the thing to bear in mind whenever you are looki
.
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
g for new donors is that they should meet all
three of the above criteria. They should not just be
wealthy (with no affinity). And not just have an
affinity (they may believe i
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
n your cause but be
bankrupt). When potential donors pass all three
tests, you will avoid disappointment, and save a lot
of money in donor acquisition and donor renewal
costs
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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