The conversion rate, in marketing terms, is not rocket science. Simple formulas can equate to the optimal conversion rate. Depending on the initiative and objective, there are multiple formulas that will give you the conversion rate you are looking for. I cannot say which formula works for which objectives, but I can tell you a [...]
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The current economic conditions, intensity of rivalry and reduced consumer spending makes all marketing initiatives seem like uphill battles. As veterans of marketing wars, you are all probably accustomed to fighting uphill battles. Fighting under the overcast of massive media clouds and content contamination, maybe uphill battles are the only battles in a marketing war. [...]
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Uncertain times? Definitely, but its not all depressing.
Bradley Johnson and Kevin Brown, in their introduction to Ad Age’s annual 2009, looks at how marketers still launch new products, campaigns, and tweak marketing messages even in major recessions.
Here are some strategies marketers could adopt in this down time.
1) Targeted rather than mass marketing.
Most have already made the leap towards sending marketing messages that are relevant and customized to each individual, but those that haven’t/ refuse to will likely lose out in 2009.
Targeted messaging creating campaigns that are relevant to each segment and each individual in your datalist. Customizing everything from messaging to the offer and design.
2) Build marketing applications.
Applications add variety to your marketing message and can help brands build better relationships with their customers. They can be as simple as Facebook applications, interactive games or content aggregators that work through viral marketing.
Read: Applications- The next wave of marketing.
2009 will be a year where marketing has to find more innovative and cost-efficient ways to connect with the customer. Competing on price may not be sufficient in the fledgling economy.
3) Quality in direct mail not quantity
Suzanne Obermire, reports news of a postal slump for the USPS in volume and revenue. Sending direct-mail isn’t cheap and with decreasing marketing budgets, they have to be used more effectively with other mediums through interactive campaigns.
4) Measuring effectiveness of marketing
One of Seth Godin’s first 2009 blog posts has to do with ensuring ads work. No longer can marketers run ads they don’t measure or track. The same level of analytics that we associate with adwords campaigns, will be necessary to measure response from email, web, print and direct mail campaigns.
In Software as a Service, we believe that the key to success still lie in service quality. Sure, the SaaS makes it cheaper than creating it in-house and more convenient than an enterprise solution, but the main benefit is the quality of service that it affords.
In a business environment that is increasingly competitive, it is still difficult to find a company that provides quality service and support for their customers. Yet this simple act goes a long way to keeping current customers happy, keeping businesses afloat and sales coming in.
Most marketers would probably resonate with this feeling, that while cleaning a datalist might be desirable, at times it may be require too much time and expense. The solution to this problem and also the key to increasing response rates, lie in the process of direct marketing. Here are a few ways to use multi-variate, direct marketing campaigns to continually refine datalist and maximize responses relative to costs for each customer segment.
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I’ve been having great fun with our software this week - so much so, in fact, that I have officially termed it "tasty dog food" within the company. Our latest project was a direct mail campaign to a new list of a bit over 1000 names. Among other things, we want to test what kind [...]
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Ms. Gauthier has been struggling with AOL to close her deceased father’s account and stop the credit card charges on it. It took nine months but was finally handled.
Moral number 1 is obvious and AOL keeps having that one driven home. Trying to hold your customers hostage these days generally ends up costing more than [...]
Having successful campaigns and booths is all very well, and it’s what we’re driving towards, but getting your hands dirty learning what works for you and what needs to be tweaked can be really satisfying.
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