database list owners' prespective
DESCRIPTION
The Direct Mail Era - In the List Owner's perspectiveTRANSCRIPT
ByYogesh Aggarwal
Global Business Director
Yellow Umbrella Group
The Direct Mail Era
Critical success factors
• Realistic Expectations• Relevant Communication • Correct Timing• Correct Mail size• Correct Test Size • Correct Evaluation of Results • Understanding of Profile
Direct Mail Response
A List owner’s Perspective
1. Responds to a factor of your knowledge on Chosen segment
2. HNI Syndrome3. Database options and cuts available 4. Living with list owners
Responds to a factor of your knowledge on Chosen segment
• Major Flaws – Individual / Corporate misunderstanding on what Works / Worked or Doesn’t..
• Zero Profile knowledge… a Failure in doing Homework before running campaign.
• Segment knowledge: Study Product / Market / Target Segment
• Target those who require / would respond and not to all…
HNI Syndrome
A little bit of TOO MUCH• A segment over-done.• Everyone wants a bit of HNI– 100% database queries are for HNI– 100% companies wants to target HNI
Is HNI so Important ??Small Test…… Define it…..
Basic Questions to answer yourselfbefore Targeting HNI
• Why HNI?• How Do you connect to HNI?• Is HNI your Target segment?• What is your expectation from HNI?
HNI… HNI… HNI…
HNI SyndromeContinued…
HNI SyndromeContinued…
Purchase Behavior• It’s not the money that responds but the
profile and lifestyle of a person which does.• Target the group by Profile, Educational
balance….. So how would you select the Data??
Largely a Psychographic study of the TA?Continued..
What is Database????
– a key component in Direct Marketing
You Buy Customers and not the Mailing Lists
Options & Cuts Available
Databases are available by deep segmentation on Psychographic & Demographic classification
Spending Patterns
Critical factors – Data selection
• What is your current donor profile? – By Location– By Age– By Occupation–By Availability of Data with List owners
Now Lets understand
Psychographic study of the Target Audience…
Psychographic Analysis
• It is a Technique of Geographic & Demographic study on psychological measurement, which includes the measurement of knowledge, value, abilities, attitudes, buying motives and personality traits.
• Gender, Age, income, occupation, Location & even Religion play vital role in any purchase behavior.
• Psychographic data can be purchased from direct marketers or market profiles for general marketers
Database options and surrogates
Segment Surrogate
By Occupation CEO/MD
General Manager +
Business Heads
By Ownership Car Owners
Mutual fund owners of High value
By Business Directors , Proprietors
By Credit Credit Limit 1.5 Lakh +
By Residence Residents to Premium localities
By Age High Networth + Age > 40
By Ability to spend High value shoppers High value donors
Living with list owners
List owner is like your doctor. • Share the objective• Share the communication• Share the expectations–What ROI ?Do not look for immediate R.O.I (return on
investment).Building a good relationship with the
customer is possible only by winning loyalty.
Living with list ownersContinued…
–What Media?To maximize your R.O.I, It is vitally important to test your
campaigns.
– What Budget? & What size of campaign?Start small campaigns and test various things to find what
works(Vivid Segments / Different Creative / Different Offerings)
Then, just scale it up, your profit will scale up along.
Living with list ownersContinued…
–Method to measure?A homework on what works and what doesn’t is very
eminent before running a large scale campaign / or to derive a conclusion
–What Time?Streamline your offers & campaigns with the current
situation / Market Trends
Communicate well- Your segment- Your interpretation of HNI
Last but not the Least…
It’s a War..Direct mail vis-à-vis Email/SMS/Tele calling