Before List Selection Define Competitive Advantage
The first and most critical step before writing your 2010 marketing plan and looking at strategic database strategy is to define your competitive advantage in the eyes of your customer base.
This could be the difference between a 25-50% increase in your sales or marketing response rate during the first 90 days of 2010.
The competitive advantage for my marketing plan and the ultimate marketing system. That’s what sets my system apart from everything else out there. So, that’s why a marketing manager can go with confidence in approaching prospects because he’s got something different and unique.
These are profits going to the bottom line because we didn’t increase the money spent to create those results. We didn’t have to do more advertising. We didn’t have to hire more people.
We’re freeing up capital because we’re better allocating the scarce resource and that’s so important, because it is the number one step and the first step in the marketing system because it is essentially the elevator sales pitch.
It’s the compelling selling reason that that company is in business. It is what sets that company apart, what makes that company unique from all of the competition, and it’s so important because with so many different kinds of businesses in the same business.
Find something that will differentiate you from the competition, and the reason you have to do that is because if people don’t perceive a reason that’s different to do business with you, then they’re only going to shop price, and they’re only going to go to the lowest price seller, and they’re only going to watch for the ads that give them the lowest price.
The first step is we met with the owner/president and staff to get their perspective of why your customers purchase your product rather then the competition, and you have a complete questionnaire that goes through what questions you should ask.
The next thing you do is call or email or survey customers, and in your survey questions you need to have to get the customers’ perspective of what might be unique.
From this information you determine your competitive advantage and then this becomes your mantra, your direct marketing headline in e-mail, mail or sales call.
A good example of a company using their competitive advantage is Domino’s Pizza, the dramatic impact for that company because they came out and they looked at all the competition and they surveyed customers, and they talked to prospects, and they asked what’s most important to them. At the time speed was becoming and was a void in the industry. No one was delivering a pizza fast.
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So, they did. They said, “We’ll get it to you in 30 minutes or less or it’s free.”Dominos Pizza, the dramatic impact for that company because they came out and they looked at all the competition and they surveyed customers, and they talked to prospects, and they asked what’s most important to them, and at that time speed was becoming and was a void in the industry. No one was delivering a pizza fast. So, they did. They said, “We’ll get it to you in 30 minutes or less or it’s free.
For free consultation or email at timglittle@charter.net
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Lead Generation
Define Your Target Market
Your direct mail campaign needs to go to the people most likely to purchase them, and your mailing lists need to be chosen carefully. Do you know your market or target audience? Define your market and target your business niche.
When possible, you should be able to segment households by income level, businesses by size, and workers by job type, education, and many other factors.
The Standard Rates and Date Services directory includes over 12,000 detailed pages of list information and this is only the beginning of your list search.
The first step in the list process:
· Widen your list selection to include everyone in your list universe and than begin narrowing your search to specific traits.
· Define your target market by researching your customer database and find desirable characteristics and include income, age, gender, zip codes, states, and purchasing behavior.
· Decide if you need a compiled list or a response list. Response lists describe people that have responded to a recent mailing or offer by credit card or internet.
· Response lists are consumers that have purchased by direct mail recently and because of this, they are more likely to purchase again magazine subscribers are a good example. Anyone that has made a purchase by credit card are very responsive to direct mail. When purchasing response lists, look at Recentcy – when they purchased. Frequency- How many times the prospect purchased from owner. Unit Sale – purchase amount and source-origin of the name.
· Business lists-The bulk of business mailing involves complied lists and these lists are sorted by Standard Industrial Classification or specific manufacturing or service industry codes. An advertiser will mail by a cross section of SIC codes, company characteristics and geographic areas. Segmentation can further narrow your target. Age of business, sales volume, type of business by SIC and ownership is it private or public, headquarters or branch office and credit Dun @ Bradstreet credit rating.
· Whenever possible, always test at least 4 new lists during any large mailing. Purchase a minimum of 5,000 nth or (random select from the entire database). Key-coding and tracking lists will determine your best performers and the most profitable opportunities. A little known secret Make it known to your list manager that you would like to purchase a test list and if it performs well you will roll-out a much larger mailing depending on the response. The list manager will be more likely to give you the very best names in the database as far as regency, frequency and unit of purchase since he wants you to come back to buy the larger list.
· Always CASS lists to verify correct zip codes and to ensure addressing problems are checked and corrected (NCOA) National Change of Address your list to ensure that your entire mailing is deliverable. Your mailer may outsource these services to correct addresses that have moved. These are services that will improve your response and detect delivery problems before your campaign is mailed.
Contact Information
Timothy Little – Marketing Consultant with over 15 years of successful direct mail and database marketing experience!
Service Description
* We will customize and write a strategic marketing plan based on your competitive edge and Unique Selling Proposition
* The Free marketing audit is focused on your hidden assets can be done by phone or fact to face.
* The marketing audit will save you between $10,000 – 100,000 in advertising costs
* We will help you to discover your assets and grow your business in several ways Guaranteed.
* Develop selling skills to increase sales
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Marketing plan development with a focus on your unique selling proposition including market needs, demographics, analysis, strategy, break-even analysis and marketing budget. I have innovative database techniques to increase response rates with testing and analysis.
Telephone: Call 313 268-9951
Email address: Tim G. Little
Welcome To Tim Little’s Marketing Lists
Welcome to Tim G. Little’s Marketing List Broker Web site.
While the economy had a devastating effect on the direct marketing industry this year, reports based on online surveys of business to business marketers found that nearly 40% plan to increase spending next year.
The biggest gains for 2010 will be online, while many marketers will spend more money on a lower-cost, more measurable medium. Direct marketing and events spending will rise. Online services with the largest projected gains will be Web site development, email marketing, list purchasing, online video, and podcasts.
You must understand your customer base with direct response testing and analyze to find out how they want to receive their information. Next, develop a marketing plan and program that will maximize that communicative source with testing and analysis.
Customer acquisition was cited as the top marketing goal for 2010 and marketers will use a diverse group of campaigns to attract new customers.
Getting back to the basics using highly targeted direct mail to break through all of the clutter maybe a good thing to test.
Getting smarter about measuring return on investment and employing methods that make marketing more effective would be a good start.
Wasting money running after social media and non-measurable advertising opportunities can waste time and focus. Develop methods that are measurable and productive expense projects makes much more sense in today’s very competitive marketing environment.
For free consultation or email at timglittle@charter.net
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