Main Subject - Business

Direct mail fundraising is a numbers game. A game that changes all the time. Who could have predicted the advent of online giving? Or the popularity of

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

sweepstakes? Or the rise of a generation of young donors whose primary method of communication is text messaging?

When I say that the direct

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

Examples of combination products may in

mail game changes all the time, I am not referring to the fundamentals, of course. Donors will always give to people to help people. The most important

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

word in a fundraising letter will remain “you.” And donors will always want to be kept informed about what their gift is accomplishing.

But

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 world is changing. Technology is changing. How people give is changing. What people support is changing. How people look at non-profit organizations

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

Combination pro

is changing.

You can spot these trends when you keep an eye on your direct mail results—your numbers—as all smart fundraisers do. Here are

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

some of the more important numbers to watch and manage.

1. Response rate
The percentage of your donors, who received your mailin

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

g, who responded with a gift. Pay close attention to the appeals that pull the best response—and figure out why.

2. Average gift

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

Your gross income divided by the number of gifts. The larger the better, naturally. This figure can be skewed upwards by a few large gifts, so measure i

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

t carefully.

3. Average cost per gift
Your total costs (writing, design, production, printing, mailing, postage) divided by the

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

number of gifts received. This number helps you discover what to trim.

4. Return on investment
Your net income divided by your c

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

Following aspects would a

osts, expressed as a percentage. Your chief financial officer will want to see this one!

5. Cost to raise a dollar
Your costs di

dd to the challenges in developing combination products:

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

ided by your gross income. The lower, the better. One of the most popular ways of measuring your success, but not to be used in isolation since it tells

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

only part of the story.

6. Conversion rate
The percentage of first-time donors or members who renew their support and become (c

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

onvert to) annual donors by sending you a second gift. Drops in this figure can sometimes be attributed to poor follow up or mailing too many solicitati

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

ons (or too few) during the 12 months following the first gift.

7. Renewal rate
The percentage of donors who renew their support

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

Professional from academic institutions, pharmaceutical industries, health care indust

each year. The higher, the better.

8. Attrition rate
The rate at which donors do not renew their gifts each year, usually expres

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

sed as a percentage of all active donors. High rates can sometimes be attributed to acquisition methods that do not attract loyal donors (sweepstakes an

.

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

d lotteries, for example).

9. CPM (Cost Per Thousand)
One of the most common measurements in direct marketing. Tells you how much

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

Companies that provide selfless information through particip

you must spend to communicate your fundraising message to one thousand people. The M in CPM stands for Mille, the Roman numeral used to represent 1,000

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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