Ideas You Can Take to the Bank!: Effective Communication
Never before have marketers had such a wealth of marketing tools at their disposal: unique information sources, innovative database platforms, advanced analytics and multichannel delivery vehicles. With such a variety of tools, how should marketers leverage their database to reveal new opportunities to gain optimal results?
You can maximize your ROI by developing a customer contact strategy that answers three key questions:
1) Who should I contact?
2) What channel should I use to contact them?
3) When should I contact them?
The answers to these questions are in your database. They represent a contact-strategy plan that uses all the resources in your database to maximize response and efficiency.
A customer contact strategy is an organization’s approach to planning, optimizing and executing customer and prospect communications with respect to all possible offers, channels and customer touch points. A strong program executes specific communications based on an understanding of the unique target audience’s characteristics, which drive response and purchase behavior.
Six Steps to Success
1. Leverage non-transactional data. Direct marketers need to look beyond who to target and focus on the how, what and when—dimensions that create optimal contact. This multi-dimensional approach requires leveraging additional sources to answer how, what and when to market. This information runs the full spectrum of attainable data, from demographics to attitudinal characteristics to observed purchase and behavioral data.
2. Determine the best touch point. Test whether or not a particular customer segment is more effectively contacted with direct mail or e-mail. An unbiased test might entail allocating a random number of direct mail and e-mail promotions to each group. Performing such a test in the hopes it will yield results that can be learned from and extrapolated for future use is a budget luxury few can afford. What if you could know ahead of time which customers or prospects within your target audience preferred e-mail versus direct mail? You would potentially eliminate one stage of the learning process, and increase the speed of your marketing cycle and incremental sales.