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TransPromo Transforms Bills and Statements from a Cost Center to a Revenue Center

April 2, 2010
There is considerable buzz around the notion of “TransPromo” lately—the concept of customizing common transactional documents like bills, statements and other customer correspondence with personalized messaging aimed at wooing existing customers. Additionally, the proliferation of smart phones means that TransPromo can easily include QR codes that enable customers to immediately reply and act upon offers. Experts extol the virtues of this one-to-one marketing approach and tout the value of documents that capitalize on knowledge collected about customers. By including relevant and personalized marketing content, monthly statements can rise above the din of competitive messages and transform into a beneficial marketing vehicle.

TransPromo represents a unique marketing opportunity because transactional documents are the life blood of every organization. No matter the market or the industry, invoices, statements, confirmations and checks drive the business functions that make any business run. Indeed, transactional documents often represent the only touch point an organization really has with a customer. These documents are already paid for: paper, production costs and postage—TransPromo is therefore a very effective way to leverage this sunk cost. It only makes sense to take advantage of this opportunity to transform transactional documents from a cost center to a revenue center.

Despite the surge in online communications and social networking, research indicates the majority of customers prefer to receive marketing messages via their bills and statements as opposed to other channels like e-mail and direct mail advertising. Companies can benefit by revising the notion that transactional documents are solely a vehicle to get paid. Instead they should regard bills and statements as a vehicle to bolster revenue through a channel that customers trust and expect.

While direct mail has a place in trying to attract new customers, most marketers will tell you, direct mail and e-mail marketing performs poorly with existing customers when compared to TransPromo documents. It is possible to produce TransPromo documents that command dramatically improved customer response directly from the existing print stream, without having to go back to the original applications or programs and the systems on which they run. With new technologies available for whitespace management in the production shop, and for the customer with smart phones and other mobile devices, forward thinking organizations are taking advantage of more efficient ways to provide meaningful offers to their best customers.

Barriers to TransPromo
While the technology may exist to design and implement TransPromo documents, there are several barriers that can stand in the way of practical implementations. What are the factors to consider and what features should you look for in a potential solution that will allow you to overcome the obstacles and execute a meaningful TransPromo strategy?
 

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