TransPromo Special Report — A Concept Whose Time Has ComeJune 2008
Changing postal regulations: Under USPS rates that went into effect in May 2007, businesses are given incentives to do more with existing communications. While the postage costs on nearly every class of mail increased (and, in some cases nearly doubled), it is now less expensive to send higher-weight letters. For example, the postage on a First-Class, two-ounce letter decreased by nearly 8 percent.
Creating the Recipe for Success
Marketers and print service providers agree: TransPromo has a proven value proposition. A successful TransPromo campaign requires a different mindset and several essential ingredients, including:
The right message: Marketing executives are no longer debating the power of personalization. If customers feel that they are receiving messages intended only for them, it increases loyalty, sales and revenues.
The right person: Database and marketing analytics are essential to segmenting and identifying the most valuable clients. Effective campaigns require organizations to dissect their customer database and assign a propensity score based on any combination of demographic, psychographic and behavioral data.
The right time: Marketing departments at companies in various industry sectors (i.e., banking, insurance, financial services, retail) recognize the crucial role that the timing of an offer plays in its success.
The right channel: Marketers need to build a repository that identifies which customer is more likely to respond via a specific channel. Messaging should be consistent and coordinated across print, online media and call centers.
Testing, measuring, and refining: Measurable objectives need to be established, results tracked, and feedback must dictate adjustments. This requires consistent messages across all channels and monitoring of customer activities, including e-mail responses and online or call center activities. PI