Five Power Tools for Direct Mail Marketing Success
(originally Published in NAWBO-LA News, By Audrey H. Maritnez)
To help you develop your direct mail marketing goals to build and maintain
your database, I have prepared a list of what I call the Five Power Tools.
1. The Power to Define.
Defining your clients is the
first essential step toward building an effective database, whether it's
150 prospects/clients or 1.5 million. Defining your prospects starts
with formulating a strategy. Start by qualifying your goals of your
"wish list" by figuring out what your database should accomplish.
Then be prepared to be flexible as your database grows and takes on a
life of its own.
2. The Power to Identify .
The commitment to build a powerful
database starts with a goal and a company-wide commitment to know as much
as you possibly can about each prospect in your data base. Some
basic flags for selecting, predicting or manipulating customer data include
a rating system for customers (excellent vs. fair), the frequency of their
purchases (one time vs. a frequent buyer), the specific product or service
purchased, and their financial investment (money spent and projected earnings)
over a specific time period.
3. The Power to Cross-Sell or Up-Sell.
Another important point for
most businesses to remember is that a single transaction does not constitute
a "customer". Recognize the elements you are dealing with,
learn more about your prospect/clients' buying habits and target those
audiences accordingly with direct mail. With increased accuracy
in your data base, you will have greater success in selling.
4. The Power to Target
In most client databases, the
type of data gathered is determined by the accounting/financial director
than that of the sales or marketing department. In other words,
you may not have the information you need to suitably target your customers.
Determine what the criteria are in your database and if necessary, consider
surveying your clients so you can better serve their needs. If you
need help, there are firms which can help you aquire needed information.
5. The Power to Predict
If you carefully track your
transactions, you can accurately predict the future. Proper database
management and research will enable you to identify activities which perform
well, so you can focus on those rather than activities which perform poorly.
At that point, you can decide whether to improve those activities as needed
or eliminate them as you upgrade your marketing efforts.
