Three More “Needlemovers” to Better Sales and Profits

Previously in List and Data Strategies, Jim Coogan, president of Sante Fe, NM-based consultancy Catalog Marketing Economics, wrote about “needlemovers,” tactics that can drive your business to increased sales and profits. Here he offers five more:

* Measure sales by the channel used to place the order. “You’ll get very different results based on the order channel that will guide you to the best frequency for the different types of channel buyers,” Coogan says.

* Test the frequency of buyer remails. In other words, measuring the total sales and profitability of a series of buyer contacts. “More to the best, less to the rest!” says Coogan, means you should test adding to the frequency of buyer contacts for your best, most recent buyers and to test reducing the frequency of contacts to the older, less responsive buyers.

* Measure micro segments, by further segmenting your lower dollar segments (say $0-$25 and $26-$50) and your higher dollar segments ($250- $500, $500-$1,000, $1,000+). You may uncover pockets of unexpectedly great response or of weak response. Likewise, don’t just lump all multibuyers into one large segment—further break them out into three-time, four-time, five-time, and more than five-time buyers.