Advice You - Business

Some non-profit organizations should not use direct mail as a way to attract new donors. Is your organization one of them? Take this

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

simple test and find out.

Test #1: Are you well known to many people?
The average response rate for a direct mail don

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

Examples of combination products may in

r acquisition mailing is 1%. Which means you must mail 100 letters to acquire 1 donor. And mail 10,000 letters to acquire 100 dono

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

s. And mail 100,000 letters to acquire 1,000 donors. This is the unavoidable math of direct mail fundraising.

So direct mail is not

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 best donor acquisition tool for you if you are located in a small town that has a small pool of potential donors, or if your org

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

Combination pro

nization is unknown. To succeed at direct mail donor acquisition, your organization needs to have broad name recognition, or, if y

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

u are new, have a founder with broad name recognition.

Test #2: Do you meet a pressing need?
To attract new donors with

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

undraising letters, your organization needs to have a compelling case for support. Many non-profit organizations serve a constitue

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

cy that is either too small or too obscure to appeal to many donors.

The Moose Jaw Amateur Radio Club, for example, is a fine organ

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

zation, I’m sure. But they do not meet a pressing need. Heart disease is a pressing need. Global warming is a pressing need. And dru

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

k driving. And diabetes. To succeed at direct mail donor acquisition, your organization must meet a basic, urgent, human need.

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

Following aspects would a

Test #3: Will you pass a search on Google?
If you have no track record, no annual report, no audited statements and no way

dd to the challenges in developing combination products:

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

of proving that you are financially responsible, ethical and trustworthy, now is not the right time to try acquiring donors through

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

irect mail. To succeed at direct mail donor acquisition, your organization needs public proof that you are credible, preferably go

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

ng back many years.

Test #4: Are potential donors easy to find cost- effectively?
On occasion I have helped a small, evan

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

elical adoption agency raise funds. They do terrific work finding loving homes for babies that would otherwise be aborted. My wife

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

Professional from academic institutions, pharmaceutical industries, health care indust

and I adopted two boys through this agency. As you can imagine, the majority of their donors have been touched by adoption in one wa

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

or another. Most Canadians have not. Which is why this organization does not use direct mail as a way to acquire new donors. They

.

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

don’t have a pool of potential donors that’s easy to find.

So they rely instead on word of mouth, special events and relationship-b

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

Companies that provide selfless information through particip

ilding. To succeed at direct mail donor acquisition, your organization needs what Lautman & Company calls “a natural constituency.

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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How many times have you encountered people in business and the image of the business or the person is so poorly presented it causes you to have a poor opinion of the services offered? It makes no difference if you are the owner or the employee; pride in yourself is evident in your daily dealings with people. Image is very important in business.

The article discusses the importance of a trademark, infringements, qualification etc.

If color is the number one factor that consumers use to determine what to buy, then it stands to reason that in order for customers to even approach a vending machine to look over the products inside, the color of the vending machine itself has to entice them there. There are several ways that color can influence consumers, and vending machine owners should be aware of them.

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Advice You - Fundraising Letters - Are You Too Small for Direct Mail Donor Acquisition?

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