New Offers-A Checklist for Rollouts (454 words)
New Offers: A Checklist for Rollouts
By Bill Baird
Here's a checklist of the seven primary factors to consider before rolling out with a new offer. You'll generate the most profit with the smoothest rollout if you consider these issues. You'll also find tools to help you with your decision by visiting the Reference Library at the DMU Web site (http://www.directmarketinguniversity.com).
1) "What are our test results?"
Obviously it's best if you can test offers before rolling out, and preferably more than once for greater reliability. But if you don't have that luxury, roll out only if the likeliest benefits are greater than the likeliest risks. Also consider your team's track record at guessing the winner in the past, based upon results from previous blind rollouts.
2) "What's the impact on our three-year cumulative net profit?"
You should evaluate a potential new offer vs. your control based upon how much net profit each one will produce over several years. (You'll find a spreadsheet for this purpose in the Library at the DMU Web site.)
3) "How will your customers perceive this offer?"
Ask a dozen customers for their opinion in an open-ended manner. (We've provided some sample questions at the Web site for this too.) If more than three or four customers mention the same unprompted negative issue, that's an attitudinal pattern which you should consider addressing in the copy before rolling out.
4) "Can our system do this?"
Bring your fulfillment system people into the decision-making process early. Roll out only after needed system changes have been made and thoroughly tested, unless your systems folks have a good track record of doing this in the past.
5) "Is there any legal exposure that we need to manage?"
Be sure an attorney with experience in direct marketing copy has reviewed your copy and informed you of any associated risks.