Identifying areas of insight to increase opportunity
If communicating and delivering your message effectively is important, then making sure your message hits your desired target is critical. At Russell House Marketing, we work with you to maximize your performance results and strategic advantage through the use of Impact Reports.
Valuable Impact Reporting after the mail out
Extracting vital information from your database will allow your business to open new windows of insight and will help you identify important communication avenues. Understanding your database and your customer segment behaviours will allow you to speak to your customers like never before.
Imagine the power to take your history, learn from it, and then grow your business without executing a program based on gut feel or simply because it is what you have always done.
How do I know whether my mail campaign was a success?
We will help you use your data to track the effectiveness of your campaigns. By building tracking mechanisms into your marketing strategy, your campaign’s results will be available to you in real time . . . a huge benefit over traditional mass media.
Put yourself in the driver’s seat
Your marketing and sales capabilities will be enhanced if you review how well your campaign performed. You can repeat your best efforts and change or eliminate campaigns or target groups with less response. Direct mail lets you get your brand in the hands of your ideal customer using geographic and demographic data. Target by key demographic factors like Age, homeowner, household income and more.
Let us help you track and review your results today.
This is classic customer segmentation. A tried and true method of segmenting (or rating) your customers by importance. An RFM Analysis provides uncommon insight into your customers’ behaviour and shows you where to find current customers that might behave like your very best customers. If you know who bought most recently, how many times and how much they’ve spent – you’re on your way to predicting behaviour – now that’s powerful!
Recency – the last time a customer made a purchase.
Frequency – the number of times a customer has purchased.
Monetary Value – the dollar amount(s) of purchases.
Lifetime Value (or value of a customer) is the total profit that a customer will bring you. Not the volume, but the net dollars (net present value) during their relationship with you.
The primary purpose of calculating the value of your customer is to measure the success of your acquisition tools and tell you when it’s worth it to acquire additional customers. When you’re talking about customers for this purpose you’re talking about average customers. In conjunction with LTV, you need to know your attrition rates, retention rates and repeat business rates for that same average customer.
Is a specific type of market research that allows organizations to compare their current performance against others and adopt improvements that fit their overall approach to continuous improvement and culture.
The Top 20%
The Italian economist Pereto figured out that 80% of your revenue came from 20% of your customers. Maybe you have a 90/10 or 70/30 rule – but it’s the same principal.
Relatively speaking, very few of your customers provide an awful lot of your revenue. These people are your lifeblood – you should lavish attention on them. Invest your marketing budget to keep your best customers buying from you – give them no reason to buy elsewhere and keep them loyal.
A psycho-graphic “snapshot” of your best customers.
Profiling enables you to better understand your current customers; personalize / target mail out information; and prospect for new clients with a higher propensity to respond. Like people = like minds = like spending habits.
The Kindness Index is based on statistical and behavioural patterns of your current customer base. Your database is ranked by Postal Walk using two variables:
1. Customers per Walk – concentration of customers on a walk – Share of Market. .
2. Revenue per Walk – amount of sales dollars from a walk – Share of Wallet.
Used with caution, it is a good way to maximize the return on an unaddressed prospecting campaign. It also allows you to make sensible list rental decisions based on geography.
Your marketing and sales ability will be enhanced if you review how well your campaigns performed – and you learn from it. You can repeat your best efforts and change or eliminate your less impressive responses. It’s smart and responsible management – do the review.
What’s it for?
If you send a test offer to sample groups you’ll know the profitable groups of customers from groups that were cool to your offer. Your decisions are made at that point – you know the right people to send the right offer.
Once you know who they are and where they live, you can prospect for more people like them.
- Campaign Tracking | Results Measurement | Measurement & Analytics | Project Reporting | Insights | Response Tracking/Campaign Analysis
- Donor Propensity Analysis
It is crucial to get the right message to the right people. Let us help you identify those folks.
Contact us for more information!