The holiday season is here and holiday orders are starting to flow in. Gift orders will continue to increase over the next three or four weeks as we approach the shipping cutoff for Christmas. It is important to make sure ship-tos and gift recipients are tracked and added to the marketing plan for January/February to leverage the potential new customer.
Prospecting results are traditionally reviewed based on the total performance of sales per book for each list, and subsequent mailing decisions are based on these results. In actuality, you should conduct further analysis to determine the true strength of each particular list and whether it makes sense to rent that list going forward.
To profitably grow a business, you need to invest the right amount in prospecting. But what is that right amount? It varies by company based on several factors including sales goals, profitability targets, short- and long-term strategic plans, and how customer lifetime value (LTV) compares with acquisition costs.