TransPromo Transforms Bills and Statements from a Cost Center to a Revenue Center
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?
There are many document composition solutions available on the market today, but for the most part in order to achieve true TransPromo functionality, they require a high level of technical support either from internal IT staff or from specialized technical consultants. Until recently, solutions in this space were too complicated and too burdensome to support. As a result, many organizations simply did not have the time or the resources needed to make TransPromo a reality. Some attempted to side step the technical support constraints by utilizing common pre-press or desktop tools like Quark or Microsoft Word, but the results are cumbersome and slow, and lack the sophisticated personalization and data mining capabilities needed to meet the needs of ongoing one-to-one marketing campaigns.
A new breed of TransPromo solutions have been developed that remove the requirements for advanced technical support. These more friendly and flexible products provide the capability to insert custom marketing messages in the empty, unused areas on the transactional documents – the whitespace – without the need for re-composition. In addition, they index customer information directly from the existing bills and statements, allowing organizations to target customers using the parameters contained in those documents. These include specific geographies, reward point thresholds, account balances, contracts nearing termination, or looking up one-to-one marketing information based upon an account number key.
Many organizations have hesitated to adopt a TransPromo strategy due to prohibitively expensive implementation costs, time to implement and disruption of existing production processes. Most enterprise solutions typically require several months to over a year to implement. Moreover, the costs and effort associated with reprogramming print applications to include specific marketing messages for specific customers is prohibitive, in many cases reaching into the millions of dollars. This is a roadblock for organizations actively striving to build an infrastructure designed for maximum flexibility to meet competitive offers head on, or to cross-sell and up-sell to existing customers. They simply cannot justify the expense and effort of a massive IT project. With most organizations rationalizing their projects in terms of payback (months) or ROI (%), lengthy and expensive TransPromo initiatives often will not make the cut.