Every Door Direct Mail Presentation

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Robert Bahn, Consultant ASU Small Business and Technology Development Center's presentation to Batesville Next Level class on Market Research and Direct mail opportunities with USPS Every Door Direct Mail

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Every Door Direct Mail Presentation

  1. 1. LOOKING FOR A NEEDLE IN A HAYSTACK HOW TO FIND YOUR TARGET MARKET 1
  2. 2. KNOWING YOUR CUSTOMERS• Knowing you need customers is Correct.• Knowing who they are and where to find them is very important.• Knowing how to get in touch with them is very important too.• Knowing how to get them to your place of business to buy “STUFF” is the most important. 2
  3. 3. …LIKE FINDING A NEEDLE IN A HAYSTACK • Finding that customer may be like finding a needle in a haystack. 3
  4. 4. HOW DO YOU LOCATE YOUR MARKET?• What haystack are you looking in?• Define your market in area. In potential customers.. 4
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  6. 6. DO YOU KNOW WHO YOUR CUSTOMERS ARE?• What does your current customer look like?• Where do they live? 6
  7. 7. WHAT PRODUCTS? 7
  8. 8. MARKET RESEARCH• Market Research by the ASU SBTDC may be very helpful. If your business customer is female between the age of 25-35 then how do I know where to advertise?• Market Research can find out where that group of people live. 8
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  10. 10. HOW DO I REACH THAT GROUP WITH THE LEAST EXPENSE? • Television • Radio • Cable Inserts • Direct Mail• Targeted Direct Mail “Every Door Direct Mail” 10
  11. 11. WHAT OTHER MARKET RESEARCH IS AVAILABLE FROM THE ASU SBTDC? Small Business and Technology Development Center P.O. Box 2650 State University, AR 72467 Phone (870) 972-3517 Fax (870 972-3678 asu.asbtdc.org asusbtdc@astate.edu Jonesboro, Arkansas2/29/2012Jonesboro, AR 72401Dear Mr. :The following report has been prepared by the ASU Small Business and Technology Development Center. Theinformation has been compiled from a variety of sources to address your specific research request. The informationwill help you assess the feasibility of your business venture. Please keep in mind that the information contained in thisreport is copyrighted.If you have questions or if additional information is needed, please do not hesitate to contact me. I am happy toreview the information at your convenience.Sincerely,Robert BahnBusiness Consultant 11
  12. 12. WHAT OTHER MARKET RESEARCH IS AVAILABLE FROM THE ASU SBTDC?Market & Industry ReportPrepared For: Jonesboro, ARPrepared By: , Intern ASU Small Business and Technology Development Center 2/29/2012Business Description:Wireless Telecommunications Service NAICS 517210/ SIC 4812Purpose of Research:Client is assessing the feasibility of opening a family fun center e in Jonesboro, Arkansas. Client is requesting market andindustry information.Contents:This report consists of several attached documents: 1) First Research: Industry Profile: Wireless Telecommunications Service (except Satellite) (12/19/211) 2) BizMiner: US Market Research Report: Wireless Phone Service 3) BizMiner: State-Metro Industry Market report: Wireless Phone Service 4) BizMiner: Industry Financial Report (5yr): Wireless Phone Service 5) New Strategist Publications: Demographics of Consumer Demand, 7th edition: Household spending on Telephones, Cellular Phone Service, Phone Cards 6) DemographicsNow: Consumer Expenditure Comparison: Jonesboro & Craighead Co. 7) DemographicsNow: Demographics Detail Comparison: Jonesboro & Craighead Co. 8) DemographicsNow: Income by Age Comparison: Jonesboro & Craighead Co. 9) SageWorks Industry Data and Analysis: Wireless Telecommunications Carriers (except Satellite) 10) RMA 2012: Wireless Telecommunications Carriers (except Satellite) 12
  13. 13. WHAT OTHER MARKET RESEARCH IS AVAILABLE FROM THE ASU SBTDC?Remarks:First Research Industry profiles provide a broad overview of an industry and the trends shaping it.Each profile covers what drives demand, who are the industry’s target customers, and statistics such as number ofestablishments, industry revenue, and degree of concentration. Profiles discuss current market trends, as well as specificchallenges and opportunities impacting the industry. Profiles are intended for use by sales people calling on a customer, thusthe section titled Call Preparation Questions. Each profile concludes with a five year industry forecast, 24 month “opportunityrating” and links to industry websites for further research. Profiles are updated by the publisher every 90 days.BizMiner financial and market research profiles are drawn from a database of more than 18 million firms. The numbers andratios contained in these reports are representative of real world firms. The figures are classified according to the salesrevenue of the firms, or whether they are startups or sole proprietorships. These reports are useful in creating financialprojections for new businesses, or comparing to established small firms.US Industry Market Report highlights include:Based on a review of 34,226 establishments including 17,451 small businesses•Average annual sales for small businesses as of q2 2011: $1,532,071•Average annual sales per employee for industry as q2 2011: $468,218•Failure rates for small business: 30.67%State-Metro Industry Market Report: Arkansas Based on a review of 67 establishments including 32 small businesses •Average annual sales for small businesses as of q2 2011: $1,360,758 •Average annual sales per employee for industry as q2 2011: $468,218 •Failure rates for small business: 37.50%Industry Financial Report (5yr): Based on a review of 153 businesses: • After Tax Net Profit as of q2 2011: 11.46% 13
  14. 14. WHAT OTHER MARKET RESEARCH IS AVAILABLE FROM THE ASU SBTDC?Best Customers 2006 is published by New Strategist Publications and describes the “best customers” for variousbusinesses. Included is information for household spending on telephones, cellular phone service, and phone cardswith detailed household spending; best customers index; and biggest customers’ market share.DemographicsNow summarizes projected expenditures as well as demographics for specific areas. Based on areview of 2011 Consumer Expenditures:Cellular Phone Service: Jonesboro Craighead CountyTotal Households 26,377 37,908Ave. Annual HH Expenditure $386.54 $380.20Total $10,195,766 $14,412,622SageWorks: Industry Data and Analysis summarizes the data about industry’s financial data and ratios; the industry’sincome statement; and balance sheet data. Also, the report provides cues how to improve business’s liquidity, profits,and sales growth.Risk Management Association (RMA) financial ratios are used by the banking industry. Lenders use RMA ratios toevaluate loan proposals and make lending decisions. If a client intends to submit financial statements or analysis toa bank as part of a loan package, they should check their work against these metrics first. Wireless Telecommunications Carriers (except Satellite) NAICS 517210 Average Annual Revenue: $1,970,846 Average Assets: $284,308 Number of Establishments: 13 14
  15. 15. WHERE ARE YOUR CUSTOMERS?• Ask your customers what part of Batesville they live.• Have them put a pin or sticker on a map to indicate what part of Batesville they live.• Have a give away and use the sign up sheets to find out where your current customers live.• Take your data base and plot on a map to determine what part of Batesville is right for a promotion using EDDM. 15
  16. 16. WHERE ARE YOUR CUSTOMERS?• Use your database.• If very large then use random sampling by using every tenth customer. Plot on a map.• Use the random sampling of customers and go on to the Post Office website and see what carrier route their address is part of.• People who live close to your existing customers are great potential customers. 16
  17. 17. • www.melissadata.com• A place to start to find out more about the different carrier routes in your area.• Good information about the economics of the different areas in your target market. 17
  18. 18. CARRIER ROUTE MAP 18
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