In today’s volatile markets, business owners are seeking any legitimate means of remaining competitive or gain an edge.
Time consuming and mistakes are expensive
Earlier I alluded to the PSDA Direct mail survey performed in September 2009.
The result is an increased return on marketing investment, lower costs and reduced waste. The goals of cross media marketing is to drive explosive and profitable growth, reduce costs and simply marketing tasks. Costs are being reduced by targeting the right prospect with the right message at the right time. Responses are improved by contacting only likely prospects and providing them with personalized content. The major challenge for distributors is coordinating the myriad of required tasks among various departments and outside partners.
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Cross Media Marketing Discovering the Opportunities
A good hockey player plays where the puck is. A great hockey player plays where the puck is going to be. ~ Wayne Gretzky
Direct Marketing at a Crossroads Spray & pray mailing is increasingly ineffective Social media (Facebook, Twitter, blogs) increasingly command dollars and attention Increased targeting and personalized mail has decreased order sizes Have you got a plan for the new terrain?
Cross Media Response Examples Traditional Campaign CMM Campaign Production Costs: 25,000 @ .40 each = $10,000 Production Costs: 12,500 @ $1 each = $12,500 .05 Response Rate = 125 10% Response Rate = 1,250 Revenue Model: 125 @ $100 average sale = $12,500 Revenue Model: 1,250 @ $100 average sale = $125,000 Production Cost as a % of revenue = 1.25% Production Cost as a % of revenue = 10% R.O.I. = R.O.I. = Cost per Response = $80.00 Cost per Response = $10.00 Profit = $2,500 Profit = $112,500