Advice You - Business

The secret to writing compelling fundraising letters is to tell great stories. Relevant, moving, inspiring stories, well told. But how do yo

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

u find these great stories in the first place?

The keyword here is relevance. Your stories must be relevant to your mission and case for su

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

Examples of combination products may in

port. A great story that's off topic will entertain your donors but not your chief financial officer. So make sure you tell stories that i

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

lustrate the difference you make in the world.

The first place I look for a great story is the statistics pile. Every organization has one.

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

Hospitals track patient visits. Animal welfare charities track endangered species. Social services organizations track meals served. Behin

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

Combination pro

these cold statistics I look for a warm human-interest story.

Let me give you an example.

The Daily Bread Food Bank in Toronto, Canada, k

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

eps track of many statistics, including the number of people who visit its member agencies, the cost to feed a typical family, and the numbe

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

r of children who go hungry in the Greater Toronto Area each month.

When I was retained to write a donor acquisition letter for this orga

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

ization, I discovered that the percentage of income that people using food banks spend on rent is 73%. I discovered that the number of peopl

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

the Daily Bread Food Bank serves monthly is 83,000. And I discovered that the Daily Bread Food Bank can buy twice as much food for one do

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

lar as you can buy at your local grocer with that same dollar.

That last fact caught my attention. I was sure there was a compelling story

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

Following aspects would a

ehind it. So I did more homework, and crafted a letter that opened like this:

A mother of twins visited the Daily Bread Food

dd to the challenges in developing combination products:

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

ank the other day and did the seemingly impossible. She left with $40 worth of groceries, but those groceries only cost $20. Which means s

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

e fed her two girls for the price of feeding one. How did she do it?

Well, she didn't buy her groceries. One of her neighbours did. Someone

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

she doesn't even know. Someone like you.

The mother I'm telling you about has to visit the Daily Bread Food Bank every month to feed herse

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

f and her family. Like many others who live in the Greater Toronto Area, she runs out of money before she runs out of month. Hunger like h

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

Professional from academic institutions, pharmaceutical industries, health care indust

rs, unfortunately, is commonplace in the Greater Toronto Area.

As you can see, behind even the most straightforward statisti

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

s ("we can buy twice as much food with a dollar as a food bank visitor can buy with the same dollar") you can find a story. Your goal with y

.

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

ur fundraising letters is to translate those statistics into stories, stories that move the hearts of your donors. So look for the statist

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

Companies that provide selfless information through particip

cs first, and the human drama behind them second. That way you're sure to remain relevant to your donors. And your chief financial officer

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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Advice You - Improve Fundraising Letters By Translating Statistics Into Stories In Donation Request Letters

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