TransPromo Special Report — TransPromo Communications: More Than a Pretty Statement
According to Kananowicz, “Based on the mailings of a number of organizations, TransPromo could, and should, become transeducational. It is the combination of blending statement information with valuable educational information to enhance customer loyalty and, in some instances, provide a soft cross-selling approach.”
In one instance, a leader in the defined contribution retirement planning industry decided to combine a traditional litho newsletter with its quarterly transactional document. In the past, the company produced a quarterly statement that was printed in monochrome on plain white paper and averaged nine to 12 pages.
In addition, the company produced two quarterly newsletters—one for plan sponsors and another for plan participants. They were litho printed and mailed in bulk to plan sponsors, who then distributed the newsletters to individual plan participants at their discretion. Most newsletters were four pages, but some were as many as eight pages. There was no customization; all plan participants received the exact same document.
In light of the availability of new technologies, the company re-evaluated this approach. The statement was redesigned as a full-color application and streamlined to a two-page summary. This shorter version summarized key information, emphasized results using full-color charts and coding schemes, and added messages to help plan participants make informed decisions about their investments.
The four- to eight-page, litho-printed newsletter was transformed into a two-page, digitally printed version. Those two pages became pages three and four of the new communication. The key difference was that content was no longer static—the digital content could be versioned according to plan type, and the content was personalized.
The real benefit for the client was more for less. The cost of litho printing, shipping, processing and distributing the newsletter was eliminated. Postage was almost cut in half, since the new combo mails at less than an ounce. Call center volume was reduced, resulting in shorter wait times and eliminating the need to add staff. The newsletter information had a guaranteed and timely distribution since it was now mailed directly to plan participants. Finally, while the cost of full-color digital printing is more on a per-image or per-page basis, the page count was cut in half. A transaction document was transformed into a “transeducational” offering.
Barbara Pellow is the owner and founder of Pellow and Partners. With her long history focusing on digital communications and print technology, she works with both print service providers and equipment and software manufacturers on the development of strategies to improve revenue and profitability and grow market share.