Main Subject - Business

What kind of response rates do your direct mail fundraising letters generate?

That’s the most common question I’m

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

asked by potential clients. And it’s a good question, since non-profit organizations need the highest response rates

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

Examples of combination products may in

they can get in today’s competitive environment. Direct mail is an expensive way to raise funds if your response rates ar

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

low and your average gift is small.

So what’s an acceptable response rate? That depends on the kind of mailing

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

we’re talking about.

Acquisition mailings (designed to acquire new donors) typically generate low respon

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

Combination pro

se rates. An acceptable response rate with an acquisition mailing is somewhere between 0.5 percent and 2.5 percent. A r

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

sponse rate of only half of one percent might not sound adequate to you, but it’s acceptable if your costs are low or you

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 average gift is high.

Remember that generating a high response rate in an acquisition mailing is more important

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

than receiving a high average gift, since the whole point of an acquisition mailing is to acquire donors. The higher y

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

ur response rate, the more donors you acquire. And the more donors you acquire, the more donors you can appeal to in comi

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

ng months, leading to higher revenue over time.

Renewal mailings (designed to obtain gifts from existing

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

Following aspects would a

donors) typically generate higher response rates. An acceptable response rate with a renewal mailing is somewhere between

dd to the challenges in developing combination products:

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

5 percent and 35 percent. Response rates for renewal mailings are higher than rates for acquisition mailings because th

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

e recipients already know you, trust you and have given to you before.

Remember that your response rate does not t

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

ell you enough. It only tells you the percentage of people who responded to your mailing. Your response rate, even if 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

’s remarkably high, can’t tell you if you made money, lost money or broke even. It can’t tell you how much you spent to r

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

Professional from academic institutions, pharmaceutical industries, health care indust

aise a dollar (or pound or yen). It can’t tell you how much you spent per donation. Or your return on investment.

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

If you'd like to boost your response rates, work on your envelope. Learn how with .

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

ersharpe.com/handbooks/H18-fundraising-letter-envelopes.htm">Boost Your Response Rates and Income with Simply Irresistible

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

Companies that provide selfless information through particip

Fundraising Letter Envelopes, Handbook 18 in the Hands-on Fundraising Series from Andrew Spencer Publishing.

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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