List Analysis Can Help On The Web
What’s The Conversion Rate On Your Website?
If you are testing some new lists, you will need to determine if they perform better than the old list that you acquired. This is direct marketing basics and without testing you will never know how to improve the results of your control package.(old campaign)
When you measure something you express it in numbers like an Excel spreadsheet. The return on investment (ROI) are all front end expenses for example list costs, campaign, printing and postage costs minus revenue generated, how many units sold.
The difference between these two amounts is ROI, after you calculate how many units were sold divided by numbers of addresses mailed/emailed is your response rate. The response rate for direct mail can be ten times higher that e-mail, and the return on investment could be greater. This is why you analyze these campaigns.
Web metrics provided by your hosting company or your Website dashboard will give great insight into your prospect conversion rate. This is very much the same way you would analyze the success of your direct mail campaigns in traditional direct response campaigns.
Today’s most successful Web sites are the online equal to direct response advertising. They have special marketing objectives and business goals and their performance can be accurately measured.
Measuring your Web site analytic will help you to determine if your are producing a ROI and if your achieving your desired goal outlined in your annual marketing plans. You can also purchase analytic software to determine if your Web site needs to be improved or changed or if the content or graphics need to be adjusted or changed to improve visitor conversion rates.
In your analysis always plan and set goals and objectives and constantly try to improve your results with the annual marketing plans
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Lifetime Value When Acquiring New Lists
The most powerful and most under-utilized method for acquiring new customers is through referrals, but most companies don’t pursue referrals.
Increase Profits Without Spending Money on Acquiring New Lists
For generations companies have witnessed the magic and power of satisfied customers referring products or services. Few companies ever pursue referrals and fewer have tested and improved internal systems for attracting referrals.
In most industries the cost of acquiring new customers will cost them 4 times as much as retaining the customers they already have or through developing an effective referral system with current customers.
Many marketers talk of lifetime value but fewer are calculating it and using it in their marketing strategy when they purchase new lists for direct marketing campaigns. Not knowing your customer lifetime value could be hurting your long-term marketing profits.
Once you understand your customer lifetime value you will always use it in your annual marketing plan. Lifetime value definition is the net present value of the profit you will realize on average new customer during a given number of days. There are many things that can cause lifetime value to change, and some of this is under your control.
Your marketing strategy should be to determine how many customers stay with you 3 years or longer as far as a percentage. If you are able to control and improve this percentage each year, your profits can triple without spending more money to acquire new customers.
If your marketing strategy is to greatly increase profits without spending more money on advertising than your focus on improving customer referrals during the sales process each month. Look at the long-term lifetime value of your customers and how this can triple your bottom line profits without spending money on new acquisition.
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Key Features
– Video conferencing with both text chat and VoIP audio
– Unlimited conferencing around the world and at all hours
– Meetings based wholly through your browser
– Compatible with all operating systems
– Up to sixteen participants
– Offers secure conferencing
– Send invitations through email and connect directly
– No long term contracts or hidden fees
– Technical support available around the clock
– Share applications, screens and desktops, as well as computers
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Campaign Marketing – Borrowing Brilliance by David Kord Murray
NASA Aerospace Engineer (Rocket Scientist) becomes Direct Mail Marketing Millionaire Guru.
David Kord Murray – Borrowing Brilliance is on the Wall Street Journals 10 best sellers list and should be on the holiday bookshelf of all direct marketers.
Borrowing Brilliance in David Murray’s words is “to take the creative process out of the shadows of the subconscious mind and bring it into the conscious world. It’s to dispel the misconceptions about creativity, lift the fog off its true nature, and reveal the fact that brilliance is borrowed.”
Borrowing Brilliance is a six step process where you build your idea from well defined problems. Once defined you borrow your ideas from other sources with a comparable problem.
For example Bill Gates came up with the idea of Excel by stealing the original program from Lotus 1-2-3 and tried to make it better and easier to use, so Bill Gates took this software program and allowed it to evolve into something more useful for business applications and accounting.
Take your best ideas and the best ideas from your competitors and do the opposite because sometimes you can’t beat a bigger, stronger competitor by copying them exactly but you can beat them by doing the opposite.
David Murray uses examples from the Google guys, Albert Einstein and some of the work he did for Turbo Tax when he started his own direct marketing company Kord Marketing Group and was hired by a company to be ahead of Innovation.
David Murray used his direct marketing venture with Turbo Tax direct mail program and on his office walls he would tape up letters, order forms, brochures and envelops and at his desk, shampoo samples, CD’s DVD’s and dozens of other things that he borrowed from friends.
He assembles idea’s by using ideas from Publishers Clearing House, order forms from Columbia music, an audit letter from the Internal Revenue Service and borrows an idea from America Online. From this he creates a break through direct mail marketing breakthrough.
The zero balance bill was the idea the first time he mailed it he got a 1% response, the second time he mailed he got a 2% response and eventually 25% response, his direct mail campaign completely broke the law of direct mail diminishing returns. Normally in direct mail when you mail a duplicate package to the exact same list you would experience diminishing returns, but in his cast the exact opposite occurred.
This direct mail package would net a higher response each time you used rather than the opposite. The reason is that people seem to like the bills that they don’t have to pay and you make it look like a notice from the IRS. This direct mail package was called the zero balance bill.
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Time to plan your direct mail campaigns with Marketing Brilliance!
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Time to start planning your strategic direct mail marketing campaigns.
Learn more about Marketing Plan Pro. Palo Alto and Marketing Plan Pro Software is one of the few American, award winning developers left and they offer free sample downloads and a 90 day money back guarantee.
The Marketing Plan and Marketing List Success
Kick The Competition in the Ass..ets in 2010!
The success of your marketing and list campaigns will be outlined in your 2010 marketing plans.
A good plan includes the following parts: defining your competitive uniqueness and how you will capture marketing share from laying out the steps required to get there, figuring out the resources you’ll need, and setting a timetable.
If accomplishing a particular thing is worthwhile to you, it deserves a plan.
What’s YOUR plan for the next step in your marketing department for 2010?
Not having one – or not writing your goals and objectives in measurable and accountable terms becomes vague and worthless since this becomes your blue print to success.
Not stating measurable terms:
– is a ticket to misery now and lack of accomplishment later.
Now that you’ve thought about what’s meaningful to your marketing department and created a plan for your next step, now what?
Look at placing priorities for 2010.
List them in priority from 1 to 6.
Do the first job listed and stay with it until it’s completed.
If, at the end of the month, there is still time to get to job #2 and job #3,
do as time allows.
The next week continue to do the very same thing.
Then have all your subordinates do it.
People who have tried lots of productivity techniques will tell you that this is one of the most successful techniques they have ever tried.
You will find that the more you plan your next day and try to get just those things done. The more successful your day will be with small baby steps.
Once you get into the habit, you start to realize how many days you used to have when you wouldn’t get 3 to 5 important/significant/meaningful things done during a day.
The process of thinking through what needs to be done and prioritizing it is one of the most important things you can do.
It takes hard mental work which is why 90% of the people in the world make their living by working on someone else’s plan.
Planning and prioritizing are the entrepreneur’s must-have skills.
Let 2010 be the year that you dominate the competition with more customers, greater frequency of purchases, and a larger dollar amount of customer purchase with your marketing plan in hand.
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E-mail List Promotion for Non-Profits
Your own house file e-mail names will be a lot more responsive than rented e-mail names, your housefile has build around a core audience, already interested and invested into your non-profit cause.
The next best alternative to in-house e-mail lists are rented lists, they will not be as responsive as your in-house list. The prospects that respond to your offer become the growing part of your in-house lists.
Once you have set-up some different internal system for staying in touch with past donors by e-mailing offers each month to keep them interested and informed. There are many service providers that will update or append phone number, address information or other demographic information to your file for enhancements.
Other options that can serve your donor base and keep them engaged in very in-expensive ways is Webinar conference meeting. This would be a great way for University Alumni centers can keep in touch past students. Certification for nursing or government types of non-profit organizations.
Knowing how to promote a successful Webinar or online seminar is one
of the best ways to generate highly qualified sales leads or educate and up sell existing customers. You not only send e-mail invitation to current customers asking for referrals but you also invite prospective customers through targeted e-mail lists.
When you write your marketing plan be sure to:
Define objectives
It sounds obvious, but you really need to think about what you are trying to do with a Webinar, so that you can measure your success and ROI after the fact. Is your marketing objective;
- To acquire leads and bring in new sales?
- To educate existing customers on a new product/service?
- To obtain research or feedback on an existing offer?
If you are looking to acquire leads, one effective approach is to focus on third party opt-in email list rentals. If you are increasing awareness of a new product or doing research among existing customers, then conducting a permission-based internal email campaign could be the most efficient use of your resources. Free demonstration and trial use: 2009 Inc. 500 Winner Discover Why MegaMeeting.com was voted The #1 Video & Web Conferencing Company on the 2009 Inc 500 List!
Set expectations in your marketing plan
After setting objectives, setting your internal expectations is the next most important step, and too often overlooked. Do you expect to cover all costs within 1 week of promoting your seminar,
The positives about Megameting include: Incredibly easy to use and set up, MegaMeeting is platform agnostic and runs on any computer with a browser, making it much easier to deal with than platform specific programs.
Megamting is a piece of software that allows users of any operating system to attend online meetings with little effort, as long as they have a browser.
You don’t need to know anything special or do any downloading or configuration to use MegaMeting. It can help cut down on travel costs for distant meetings, and is very effective for marketing departments, working on projects with distant group members, and small scale training.
To operate the software, just make sure you have a working web cam, browser, microphone and Internet connection. You can contact up to fifteen other people for virtual meeting that feels much like you’re in the room together. This can really help with creativity.
MegaMeeting can be tried for free, and offers secure conferencing around the clock and around the world. However, to use MegaMeeting in the long term, you will need to pay. Long term contracts are not required, however, so you can quit any time you choose.
Key Features
– Video conferencing with both text chat and VoIP audio
– Unlimited conferencing around the world and at all hours
– Meetings based wholly through your browser
– Compatible with all operating systems
– Up to sixteen participants
– Offers secure conferencing
– Send invitations through email and connect directly
– No long term contracts or hidden fees
– Technical support available around the clock
– Share applications, screens and desktops, as well as computers
Meet, Share, Collaborate – Try MegaMeeting.comVideo & Web Conferencing Now!
The Ever-Evolving List Industry
My latest issue of Direct Marketing News, 30th anniversary edition just arrived in the mail. I love this publication dearly, since it covers everything from e-mail list compilers, searching the net, to Web analysis.
This edition covers the history of direct response from Bob Stone co-wrote the book “Successful Direct Marketing Methods” it was a business best seller and I have a copy.
Lester Wunderman another direct marketing legend in 1967 addressed the Massachussets Institute of Technology on the practice of direct marketing and paved the way for thousands of direct marketing practitioners.
The list industry was a hot place during the 1970’s for entrepreneurs with good ideas and marketing knowledge. The new technologies were just starting to replace the old card and file systems. Imagine companies like IBM keeping their customer lists on index cards.
Today, again the industry has changed with the digital era and marketers are more focused on data quality and costs factors. The engine behind the growth of direct marketing during the digital age was the technology behind it. Marketers were starting to store large amounts of data and the engine that drove the growth were the list and data guys.
Those list and data guys introduced the innovative techniques like age enhancements and demographics. The key differences over the last 30 years is that the quality and depth of the data that was available had increased greatly.
Today, fast access to information and the ability to merge great amounts of data became more feasible and the ability to append demographics and other information gave lists the ability to do greater segmentation. Later came modeling, analysis, reaching the right people with the right message and later the internet.
FREE eBook “Boost Sales With Lists”
