Reduce costs while generating more revenue
As postal rates continue to rise, companies will be challenged more and more to offset these costs and still generate more revenue. The good news: it's possible to reduce direct mail costs while boosting business and customer retention as well. The key is to improve mailing techniques to reduce waste. In other words, cut duplicate mailings and over-mailing. And here are 3 ways to do both:
1. Give customer periodic options
Nearly 62% of best-in-class companies (those with the highest customer retention, satisfaction and profitability levels) provide customers with options on what types of offers they'd like to receive and when. They also allow customers to update their choices periodically (over the phone, via mail, e-mail, in person, etc.). This allows buyers to get the offers they want just when they need them. Only 32% of laggard companies offer this service to their customers. And several best-in-class companies say this customer-centric approach contributed to their record customer satisfaction and retention levels.
2. Entice customers to act
Currently, only 10% of laggards provide their customers incentives to notify the company of duplicate mailings and incorrect addresses. But offering incentives to customers who maintain hygiene of mail lists:
- provides another way to ensure the quality of customer data, and
- creates another chance to build loyalty, cross-sell and up-sell