Main Subject - Business

1. Personal
Fundraising letters are about as personal as you can get with a donor without meeting face to face or talking on the phone. Unlike special events, fundraising

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

letters let you have a one-on-one “meeting” with each donor.

2. Can be passed along
Unlike personal visits, phone calls and special events, fundraising letters can reprod

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

Examples of combination products may in

uce themselves. Your appeal on paper has the opportunity to reach more than one donor, potentially doubling or tripling your efforts. Member-Get-A-Member letters are a perfect example of this d

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

ynamic at work.

3. Can be tested
Because you can measure your direct mail results, you can also test your mailings. Test one package against another, one list against ano

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

ther, one ask against another, and you’ll discover what works and what fails. That way you’ll spend your dollars where they are most effective (without relying on guess work or hunches).

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

Combination pro

ng>4. Measurable ROI
Direct mail is one of the best mediums for measuring the return on your investment. Simply code your reply cards, and count how many return to you in the mail

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

with a gift. With fundraising letters, you can know immediately--and exactly--how effective your mailing has been. Direct mail numbers never lie. Some simple calculations will tell you the fol

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

lowing:

Your response count (number of donors who responded)
Your response rate (percentage of donors who responded)
Average gift
Gross income (before

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

expenses are deducted)

Net income (what’s left after expenses are deducted)

Cost to raise a dollar

5. Quick
Unlike capital campaigns, m

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

ajor gift campaigns and special events, fundraising letter campaigns can be conceived, planned and launched within weeks instead of months. Results (donations) are just as quick, usually arrivi

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

g within days of your mailing.

6. Build your base of support
The majority of non-profit organizations receive 80 percent of their income from individuals. Since the avera

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

Following aspects would a

ge gift sent through the mail by an individual is $35, you need a broad base of individual donor support for your existence. You will want to attract gifts from foundations, businesses and gove

dd to the challenges in developing combination products:

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

rnment, certainly, but for long-term survival you need to build a large following of individual supporters who send you small gifts year after year. The most cost-effective way to build and su

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

stain this base of support is a comprehensive, well-planned, well-executed, annual fundraising letter program.

7. Strengthen relationships
Capital campaigns and banquets

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

are excellent ways to raise awareness and funds, but they are costly and time-consuming. You cannot run one every month. And you cannot rely on them to strengthen the relationships you have wit

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

h your supporters. Fundraising letters and donor communications (such as newsletters), on the other hand, are cost-effective ways to build credibility, increase trust, inform donors and build r

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

Professional from academic institutions, pharmaceutical industries, health care indust

elationships with your donors over time.

8. Reach donors anytime
For your telemarketing campaign to be effective, your donors have to be near their phone. For your annual

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

golf tournament to be profitable, your donors have to meet you at the green. With a major gift campaign, your calendar and your donor’s calendar must have the same day free or you will never m

.

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

eet. With fundraising letters, all you need to know is that your donor still lives at the address you have in your database. You don’t have to mail at the right time of day to catch them at hom

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

Companies that provide selfless information through particip

e, or invite donors to meet you at their mailbox. All you need to do is mail your appeal package to a valid address and then let the donor read (and respond to) your letter at their convenience

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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Main Subject - Eight Advantages of Fundraising Letters Over Other Methods

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