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Chapter – 4 CONSUMER AND BUSINESS MAILING LISTS

Chapter – 4 CONSUMER AND BUSINESS MAILING LISTS. To Promote a new product or service or a new venture, or to thrive in the growth stage of a business, an organization needs to prospect for new customers.

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Chapter – 4 CONSUMER AND BUSINESS MAILING LISTS

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  1. Chapter – 4 CONSUMER AND BUSINESS MAILING LISTS

  2. To Promote a new product or service or a new venture, or to thrive in the growth stage of a business, an organization needs to prospect for new customers. Even established organizations need new prospects to replenish (Complete) their customer base.

  3. *Successful customer retention programs don’t’ keep 100 percent of customers. *Maintaining a balance between customer and prospect marketing efforts is one of the key to business success. Many organizations rely upon direct mail for their main medium or as a support medium for their prospecting efforts.

  4. Mailing lists can help them : Target businesses or consumers , Sell a product or service direct, Generate a lead, Drive traffic into an on-line or off-line store, Sell subscriptions, or persuade contributors. They may also use television , radio , print advertising , co-ops, the internet , or the other media to create new customers. They may even supplement with trade shows or events .

  5. Mailing List Basics Mailing lists are not sold but rented, typically for a onetime use. If after testing a portion of a list, the renting organization wants to remail or roll out the list(e.g., in continuation), it must pay an additional rental fee. The List provider seeds the list with names that come back to it in order to monitor list usage. Companies that repeatedly violate the rental agreement soon find they are unable to rent lists from any organization. Seeding is a significant deterrent to abuse.

  6. Specialty lists of hard-to-get names – such as buyers of airplanes , sailboats, and exotic cars; small and large cap investors; and foreign lists – may rent for three to four times premium! The Quality of the names and difficulty in acquiring them is always a major factor in list rental costs. Hot-line names also are rented at premium price. Hotline names remain a very popular category of names to rent. Some organizations choose not to rent their lists. But even they will often exchange lists with other companies that have noncompetitive offers.

  7. Types of Mailing Lists There are three kinds of mailing lists: House lists. Response lists, and Compiled lists. House Lists: They are simply the databases of an organization; Considered the key asset of any organization , they include current customers , former customers , and inquiries(i.e., prospects). Because the house list is so important , it must be maintained and updated constantly. The word “customer” usually refers to an “active ” buyer. Someone who had purchased within the last 12 months.

  8. Response Lists Response lists are the house list of other organizations. Response lists are made up of individuals who have exhibited a particular kind of behavior. They may have responded to a direct mail offer, a print ad, a broad-cast commercial, via telephone , or on the Internet. Response lists can be broken into number of further categories. Buyers List Attendee/Membership/Seminar Lists who attend conference ,trade show ,event Subscription Lists; to news paper or publications Donor Lists; contribute money to charities Credit Card Holder Lists Merged Database List

  9. Merged Database Lists: This type of lists includes the merged lists of companies that often won’t rent theirs individually. Using the merged list simplifies the selection process because duplicate names are eliminated. Compiled Lists Compiled lists are made up of individuals or companies without any previous indication of willingness to respond, but with some defined and identifiable characteristics such as demographics , psychographics ,zip code etc. its useful for retail ,consumer goods ,business offer . Its three kinds ; consumer complied lists, lifestyle and business complied lists

  10. Consumer Compiled Lists: Consumer compiled lists are created from a number of different public and private sources. Name , Address, and phone numbers are gleaned from telephone directories and credit bureau records. Consumer Lifestyle Enhanced Lists: Based on lifestyle Business Compiled Lists: Typical firm graphics include, Standard Industrial Classification (SIC) Annual Sales Number of Employees Headquarters or Branch Office Geography Business Structure (e.g., corporation, subsidiary) Recent Relocation

  11. Profiling Profiling is a first step in understanding an organization's customers by identifying demographics, firm graphics, or lifestyle attributes of each customer. Appending this information to the customer file adds valuable information for targeting future promotions, understanding customer defections, and identifying cross-selling and other new business opportunities.

  12. List Selection Guidelines Description. Who is on the list? Affinity. A close relationship with the target group that the marketer is trying to reach. List Source. The origin of the names on the list. Renting Mailing Lists: Mailing lists may be from list owners, list managers, and list brokers. Each source has its strengths and weaknesses.

  13. Evaluating Mailing Lists Steven Roberts, president of list brokerage Edith Roman Associates, Inc., notes that the following information, included in most data cards, should be evaluated when deciding upon a list rental. List size Cost per thousand List description its sources, history, profile of customers Average order size Percentage of the list that is direct mail-generated Hot line : responding customers who buy Active versus inactive: his membership valid List usage report: if its used by our competitors for the same offer Selections available; is it include selection criteria by which could be segmented Frequency of updating

  14. List Hygiene According to the Direct Marketing Association," The most important step every mailer can and should take is to improve list hygiene." Standardizing formats Merging multiple files Eliminating duplicates and Updating and verifying address elements are all critical steps essential to maximizing deliverability

  15. Applying List Hygiene There are number of steps that can be taken to clean lists before mailing. They are: List Standarsation Editing and Reformatting Merge/Purge Verification and Correction Privacy: Questions of data compilation and usage are sensitive. Many consumers and businesses alike view them as privacy issues Unauthorized access is focused in three areas: Fraud Identity theft Anonymity

  16. The Direct Marketing Association has two services available free of charge for consumers: Mail Preference (MPS): Which enables individuals to receive less national advertising mail by having their names removed from many national mailing lists. Telephone Preference Service(TPS): which enables people to receive fewer telephone sales calls in their homes by removing their names from many national telephone sales lists.

  17. Privacyconcerns often arise when information collected for one purpose is subsequently used for other purposes. Concerns abate when mailers and lists renters offer consumers the opportunity to object to this reuse.

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