You’ve developed a product you feel will provide excellent value to existing or new customers. Maybe you’ve been studying your customer database and think you’ve come up with another ‘great idea’ for a profitable service that would interest your customers and be used to extend your reach to find new customers.
Regardless of what you’ve come up with, you need to figure out the best way to offer this new product or service in the most cost effective manner to the right people.
After all, you want the best return for the time, energy and the money you’ll invest, right?
If you’ve read anything by David Ogilvy or Stan Rapp you’ll pretty much hear similar things here too; but it took me awhile to finally follow these proven processes!
Over the years, after much trial and error (and banging my head against the wall) I finally listened and developed a process that works for me when implementing direct marketing campaigns:
Step 1 Create a Direct Marketing Plan
- Determine your Target Group.
- Determine the size of the Universe.
- Develop your Offer – What is the best Value vs. Price proposition?
- What’s the best way to engage with your target market to present your offer?
Step 2 Develop a Campaign Budget
- Pencil Test to compare and select the most cost effective medium.
- Determine your KPIs to track and measure for success.
- Build your Budget and determine your overall Cost per Sale.
Step 3 Test Campaigns to Establish a ‘Control’
- Test your message, medium, offer and call to action – find the sweet spot!
- Create a Campaign Report that covers all the elements of your campaign so you can identify trends or find areas that need improvement.
- Establish your ‘Control’ communication – then work systematically to beat it.
Step 4 Roll Out
- Roll out with your Control.
- Track and Measure all KPIs.
- ‘If it ain’t broken’ – Test, test and then test again to beat that Control!
One of the other things I’ve learnt over time, whether you’re trying to develop a Direct Marketing program or campaign for lead generation to find new customers, or make sales to existing customers is that the process is a Marathon – not a Sprint.
The beauty of Direct Marketing is that you can systematically test new mediums, offers, copy, calls to action to find the sweet spot. Over time, you can replace those elements within a campaign with more responsive elements to get you the ROI you’re looking for.
If you follow these simple steps; take your time and make sure you do each step properly; you’ll have a strong process that you can use for any Direct Response campaign or program for years to come.