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Archive for June, 2010

A Powerful Marketing Medium

Wednesday, June 16th, 2010

TransPromo is simply a mix of Transactional Print and Proactive Marketing. It utilizes the white space on statements as advertising-space to target recipients with specific messages relevant to their buying patterns and preferences.

TransPromo efforts can turn invoices and statements into powerful marketing and customer communication tools. Transaction documents are a repeat, personal customer touch point. Consider your invoices and account statements as regularly scheduled meetings with each of your customers. They also cost less than billboards, television commercials and other advertising mediums that aren’t guaranteed to reach your customers.

Statements attract attention. 95% of statements are open and read by consumers. InfoTrends market research shows that consumers spend an average of 2 to 3 minutes reviewing their statements, with 20% spending more than 5 minutes! Compare this with a traditional direct mail piece that often goes directly to the recycle bin and the message is clear – It is time for marketers to leverage this customer touch point as a new marketing medium.

Transactional printers have previously tried to include promotional messaging, knowing that consumers open and read their statements and bills. However two thirds of consumers rarely or never read the inserts and leaflets that are included in their bills. High quality inserts included inside the envelope have always been too easy to discard without reading. All that time, effort and, more importantly, money goes to waste. The reason inserts do not work is because they lack relevance.

TransPromo is new in the way the messaging is integrated into the statement document itself. Also, TransPromo provides a new avenue to leverage customer data to create personalized and relevant offers that generate greater response.

The financial services, insurance, telecommunications, utilities, and service bureau markets are the sectors most likely to benefit by leveraging the TransPromo opportunity. Anyone who issues invoices or statements has a prime opportunity to transform statements and revenue-recovery documents into personalized marketing vehicles that drive new revenue streams.

Invoices & Statements – Beyond the Cost Center

Wednesday, June 16th, 2010

Reducing the cost of client communication is one of the strongest motivations for the increased use of alternative communication channels. Because the core, paper-based communications of the financial industry are not likely to be eliminated, additional attention needs to be focused on improving the efficiency of document production.

Most medium to large organizations already have the basic ingredients of TransPromo, but need support to turn their statements and invoices into marketing vehicles. Once an organization understands that it is technically possible to extend their customer communication strategy to their documents, they can use TransPromo techniques to build relationships and up-sell and cross-sell to current customers.

Here are some of the benefits of using statements as marketing tools:

1. Increase Profits, Cross-Sell: Make additional revenues by allowing corporate customers/ partners to use white space on your statements for advertising.

2. Increase Customer Satisfaction and Improve Loyalty: Proactive Marketing is not just about increasing sales of a product or service, it can also be used to spread information, increase loyalty and provide value to the consumers by delivering relevant offers and messages.

3. Greater Returns: Because companies are already mailing statements, this is one of the most cost-efficient communication channels. Also, because the target audience is current customers, there is a greater potential to increase profits, as compared to targeting new customers. A five percent increase in current customer business can translate into as much as a 50 percent increase in bottom-line profits.

4. Cost Saving: By combining direct mail efforts with regularly schedule transaction mailings, organizations can realize significant cost savings.

The Power of Color

Wednesday, June 16th, 2010

Tell me and I forget
Show me and I remember
Involve me and I understand

This Chinese proverb is key to successful marketing and customer communication. The power of color which, according to research, provides up to an 80 percent improvement in message understanding and makes offers and promotions more noticeable.
Source: Kodak Versamark

  • No Different than Television – Color Communicates!
  • Color visuals increase willingness to read by up to 80%¹
  • Using color can increase motivation and participation by up to 80%¹
  • Using color in advertising outsells black & white by a whopping 88%²

    1 The Persuasive Properties of Color; Ronald E. Green; Marketing Communications, October 1984.
    2 Loyola University School of Business, Chicago, IL., as reported in Hewlett-Packard’s Advisor, June 1999; (http://www.hpadvisor.com)

  • Proactive Marketing & Data Analytics

    Wednesday, June 16th, 2010

    Data analytics is understanding the way your buyer is behaving in [his] environment; this implies that you should analyze the customer profiles and then build these analytics, or buying models.

    Proactive Marketing works best when highly targeted, using customer data and spending patterns to influence a message and target users directly in order to get a measured result. It’s the data analytics which drives the content and the result is relevant content which grows the customer relationship and loyalty.

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