TransPromo Transforms Bills and Statements from a Cost Center to a Revenue Center
Thoughtful Integration with Customer Data
The paths between operations and marketing rarely cross. As a result, the biggest barrier to a meaningful TransPromo strategy is not the technology, but rather the different priorities and competing agendas found across an organization. The key to gaining real benefit with TransPromo is found in the processes and strategies. Without a holistic process-oriented approach to TransPromo companies often miss the mark. For example, marketing departments look to build revenue and ensure that customer experience is high while print/mail operations concentrate on keeping a lid on rising production costs and managing ever-tightening budgets. IT departments concentrate on the complexities of data processing while finance departments care about getting bills paid quickly to ensure positive cash flow and organizational profitability. This disconnect can quickly kill even the most well intended TransPromo initiative.
Disparate data systems and technological incompatibilities used to be the biggest barrier to optimizing the performance of transactional documents. By attending to the process overall, and not just the technology, companies can leverage the relationships between marketing, data and operations and turn transactional documents from a cost center to a revenue center. This means more than just putting variable messages on the page. Now, organizations have the ability to drive the right message to the right customer based on the data that already exists on the customer document itself and/or in your CRM system. In keeping with the intent of TransPromo, this means delivering meaningful and valuable information and offers to customers. As the number of tech-savvy customers with smart phones grows, it also means using QR codes to drive them directly to highly relevant offers on personalized web pages.
If you have looked at TransPromo in the past and found the approach to be too costly and complex, now is the time to think again. As the potential for additional revenue generation increases, re-evaluating the available technologies and options becomes more vital to company performance. In today’s economically challenging business environment, every company must do more with less, and TransPromo documents give you a way to effectively market your company even when your advertising budget has been slashed. After all, you are already paying for the creation, production and delivery of your monthly statements, bills and other transactional documents, why not take full advantage of this existing investment to drive incremental revenues?