Making Space Ads Work
For example, inquiry-generating cooperative programs, for which you pay on a “per inquiry” basis, generally generate a significant number of inquiries. However, do the leads from these types of programs convert? How does the quality of leads you receive from a “per inquiry” program compare to leads you can generate on your own? Again, quantity may not necessarily mean quality. One way to improve the performance of these inquiry generating cooperative programs is to charge for your catalog. This is a must! The less you charge ($1.00 for example), the more leads you will receive, which means fewer of them will be worthwhile. What’s more, not all inquiries should be considered the same when it comes to re-mails. Non-converting inquiries are most often mailed based on how recent the inquiries were, i.e., the past three months, four to six months, seven to 12 months or more. You should segment your inquiries into separate groups based on “source” in addition to recency. This will help you better determine how many times you should mail to each group. You should be able to re-mail the non-converted inquiries three to six times. At that point, you may want to consider having these names optimized by a third party. This will help identify the names worth mailing one last time.
- Companies:
- Lett Direct Inc.
Steve Lett graduated from Indiana University in 1970 and immediately began his 50-year career in Direct Marketing; mainly catalogs.
Steve spent the first 25 years of his career in executive level positions at both consumer and business-to-business companies. The next 25 years have been with Lett Direct, Inc., the company Steve founded in early 1995. Lett Direct, Inc., is a catalog and internet consulting firm specializing in circulation planning, plan execution, analysis and digital marketing (Google Premier Partner).
Steve has served on the Ethics Committee of the Direct Marketing Association (DMA) and on a number of company boards, both public and private. He served on the Board of the ACMA. He has been the subject of two Harvard Business School case studies. He is the author of a book, Strategic Catalog Marketing. Steve is a past Chairman of both the Catalog Council and Business Mail Council of the DMA. He spent a few years teaching Direct Marketing at Indiana University in Bloomington, Indiana.
You can contact Steve at stevelett@lettdirect.com.