Direct marketers are facing more challenges than ever before. Increased competition, new media channels, and a pending USPS rate increase are creating an environment in which traditional, tried-and-true list selection techniques that worked well in the past are failing to produce the ROI expected by chief marketing officers today.
List income projections are in place and your list sales vendor has their marching orders, but how prepared are they to achieve your goals? In this competitive marketplace, strategic planning is essential to meet and exceed your revenue goals. List owners and managers are partnering for success by developing strategies and processes that minimize risk, maximize opportunities, and limit the surprises at the end of the year.
. Media technology companies reinvented co-reg. What was a pretty informal way for like companies to partner with each other became a huge and mostly misunderstood channel for acquiring massive quantities of leads.
Want to know a better way to segment by recency that makes your life easier? Most circulation professionals know how important segmenting by recency is, but in our estimation, most are not executing this segmentation in the best way possible.
Have you made your New Year
According to the Abacus 2006 Multi-Channel Annual Trend Report, the major retail markets in rural and urban areas differ in their growth and decline by channel. The most recent report showed that call center/mail order purchases represented 65% of orders in rural areas, with 35% of those orders placed online.
Do you find yourself frustrated by diminishing response in your core co-op prospect models? Many of the co-operative databases offer custom response models to mailers who are seeing declining or inconsistent performance in their standby selections. These models are worth testing, and they are available at no additional cost.
I recently gave a talk to a business group and described recency, frequency, and monetary (RFM) models. One of the questions I got at the end was to distinguish between the frequency of RFM and the frequency of business contacts and to say which was more important. I explained that there are two equally important dimensions to direct marketing frequency. There is one definition based on data of historical transactions and another depending on the amount of communications a business creates and sends out.
New lists The Cottage Shop Selling Limoges porcelain boxes and other collectibles, the Cottage Shop catalog has 20,000 12-month buyers. Customers, 95%