When it comes to boosting revenues, many companies focus on acquiring new customers. In fact, according to Econsultancy’s “Cross-Channel Marketing Report 2014,” 44% of marketers are placing a greater focus on customer acquisition than customer retention. Only 18% are focusing more on customer retention. However, focusing on acquisition to the exclusion of customer retention may not be the best strategy. Here’s why:
- The 80-20 rule applies in marketing, too. Research shows that 80% of a company’s revenues come from 20% of its customers. These 20% love your brand and find value in a relationship with your company. Identifying and courting those customers can be enormously profitable.
- The chances of making a sale to a new customer ranges from 5–20%, according to Marketing Metrics. By contrast, the likelihood of selling to an existing customer jumps to 60–70%. Your existing customers can be your most lucrative. You want to keep them.
- According to Peppers & Rogers, it can cost up to seven times more to acquire a new customer than to keep an existing one. For this reason, it can take up to one full year before a new customer becomes profitable. Once you’ve acquired those new customers, you need to keep them.
On board with customer retention? Let us help you identify your most profitable customers and craft a great customer retention campaign!
“The unexamined life is not worth living.” – Socrates
Get ready for great USPS promotions in 2016! Just like in 2015, the USPS will offer a 2% discount on qualifying promotions that use interactive technologies that make your mail pieces more effective and cost-efficient, too.
The new promotional categories for 2016 are as follows:
Emerging and Advanced Technology/Video in Print Promotion (March – August 2016): As in 2015, the promotion encourages mailers to incorporate mobile and other print technologies into their mail pieces. In 2016, this includes Near Field Communications (NFC) and Video in Print, as well. The 2016 promotion also adds an A/B Testing option. To receive the 2% discount, mailers must use A/B testing protocols and provide results to the Postal Service, which will share data with other marketers. Shared data will not identify participating mailers.
Tactile, Sensory, and Interactive Mail Piece Engagement Promotion (March – August 2016): This promotion is new to the USPS and will offer a 2% discount to mailers who incorporate advanced print innovations in paper and substrates, finishing techniques, and inks.
Earned Value Reply Mail Promotion: This is an extension of the 2015 promotion that encourages mailers to keep Business Reply Mail (BRM) and Courtesy Reply Mail (CRM) envelopes and cards in their outgoing mail pieces. Qualifying mailers will receive a two-cent postage credit for each BRM and CRM piece returned during the promotion period. Mailers who participated in the 2015 Earned Value Reply Mail Promotion and either meet or increase their volume of qualifying BRM/CRM pieces will receive an additional one-cent (three cents total) for each returned BRM and CRM piece.
Mobile Shopping Promotion (July – December 2016): As in 2015, this promotion will encourage mailers to integrate mobile technology into their direct mail. The 2016 promotion will include a new social media component under which consumers will be able to connect with “Buy Now” features available on most major social media platforms.
Personalized Color Transpromo Promotion (July – December 2016): This is a continuation of the 2015 promotion that encourages mails of bills and statements that use color messaging to either address the recipient by name or use information relevant and specific to the recipient. The promotion applies only to bills and statements.
There has never been a better time to use postal mail. Give us a call — let’s get mailing!
Print marketing does more than communicate a message about your products and services. It communicates about your brand. The elements of your printed pieces send a strong message whether you realize it or not. Here are five tips for communicating the right brand messages:
- Have a consistent brand message across channels. From piece to piece and across channels (print, email, in-store displays), make sure your brand is consistent. Use the same color palettes, the same (or similar) imagery, and a tightly controlled logo. Create a similar look and feel, even if the design isn’t identical. All communications from your company should send an identifiable brand message.
- Tell a story. Print is a great storyteller. Say you are selling fried chicken and wings. Instead of promoting “Wings 25% off this Friday only!” why not try something different? “It’s kick-off time and what’s for dinner? Not pizza AGAIN! Spice it up with our hot wings instead!”
- Identify and target thought leaders. There are people out there talking about your brand. Find them and target them with brand-building messages. This builds word of mouth, which (when positive) is the most valuable marketing you can get. In the world of consumer marketing, these people are often called “instigators.” Find out who they are and create targeted messaging just for them.
- Use testimonials. Whether it’s in print, online, or social media, people believe testimonials over traditional messaging. Begin collecting testimonials and add snippets to your postcards, direct mail letters, in-store signage, and other print marketing materials.
- Don’t skimp on quality. Sure, you could print out those brochures on your in-house inkjet printer, but quality is part of your brand message. Having professionally produced print materials is a sign of a trustworthy business. Printing on the cheap sends the wrong message.
Every print document you send or display sends a brand message. Make sure you’re sending the right ones.
“Only a life lived for others is a life worthwhile.”
It used to be that, in order to create powerful 1:1 print campaigns, you had to be both a marketing wizard and a database master. No more. Today, the software does much of the work for you. The secret is in the Web portal where your content, your templates, and your data are maintained in a centralized location with easy-to-use interfaces.
The process starts by brainstorming a marketing project and working with us to set up the rules, develop layouts, and pre-approve content, such as text blocks, images, and databases. Then you (or anyone you choose to give access to) can log in, make selections about what is to be included in the marketing piece, and click “OK.”
If the user wants to customize the piece (change colors, headlines, or other elements), this can be done within pre-set limits that you determine. Personalization can often be applied by using drop-down menus that, with a little training, anyone in your staff can use.
Once the project is complete, the user checks out as they would at any other online store.
Making 1:1 marketing easier is that the person ordering the marketing materials doesn’t have to be the one designing it. A designer creates the piece, we upload it and set the parameters for personalization, and using templates and rules, the user can select and customize the piece and place the order. Often, all they have to do is fill out basic information and use the drop-down menus provided. Elements are flowed in, the rules applied, and the piece produced and shipped to the right location automatically.
This workflow requires a time investment to set up, but we’ll be there to help you.
What’s important to understand is that the barriers to entry are lowering for 1:1 print marketing. Software has come a long way, and it’s making personalization easier and more accessible than ever.
Whether it’s in print, email, or online, customers expect a personalized marketing experience. According to InfoTrends, 60% of Boomers and beyond (ages 55+) want a personalized experience. Among Millennials (ages 13-34) and Gen-Xers (ages 35-54), this rises to 67%.
But while “personalization” can carry the connotation of complex and expensive, it doesn’t have to be. Even with a basic customer list, a few simple steps can help you deliver a more relevant, targeted experience.
1. Use their name creatively.
Don’t just use the customer’s name in the opening text. Use it creatively in images or sprinkle it in unexpected places throughout the document. Add the couple’s name to the place card on the table. Emblazon it across the mailbox in front of an image of a home for sale. Integrate it into the design in unexpected, eye-catching ways.
2. Target by a single, simple variable.
Will it help to target the mailing by gender? How about by ZIP code? Would it help to add a map? (This works great for new businesses or new branches or locations.) This is data you already have. Use it!
3. Append the database.
Still think you don’t have any variables you can use? Do what’s called a database “append” in which you purchase simple variables like home ownership or household income for the names you already have. Appends are not expensive and can boost your marketing effectiveness exponentially.
Talk to us about how you can put your existing data to use to create a more personal relationship with your customers. You probably already have more information than you think!