There are still business decision-makers who are not convinced of the value that transpromo can bring to their business. So as not to bore readers with yet another definition of transpromo, please refer to previous Industry Insights as to what transpromo is all about.
The opportunity is clear.
Konni Hoferichter is MD of LaserCom, a division of Bytes Technology Group.
To put the matter into perspective, nationwide we as a company process 10 million postal items a year, on behalf of our clients. This enables a direct, one-on-one connection and interaction with customers via the bills, renewal notices or invoices that are mailed to them.
The opportunity is clear, but not many marketing professionals have grasped the opportunity to use their transactional documents to work hard for them. For most companies, transactional documents are used to ensure steady cash flow. But some progressive companies have begun to consider their monthly statements and invoices as a channel and vehicle for encouraging deeper relationships with their customers.
Enabled by deep technology and insight, companies can grow their revenue.
Perfectly placed
Transactional documents - bills, statements, renewals and annual reports, to mention just a few - are perfect for ensuring relevant, current, accurate and targeted content and marketing messages to existing customer bases through the medium they all need to engage with - and that's postal items. Everyone must receive a postal item, and often they receive them via e-mail, but be that as it may, all customers must receive a statement. Including a marketing, promotional item in such a communication just makes sense.
A well designed transpromo communication can help companies to:
* Boost revenue through focused cross-selling and up-selling opportunities. Everyone knows it is 80% less costly to sell to an existing customer than to win new ones. This is at the very heart of CRM.
* Enhance customer loyalty. Customers who receive regular, valuable communication are more likely to stay on-side and be inclined to repeat purchases, and the more frequently the company engages with them on an opt-in basis, without hard sell, the more likely it will engender loyalty.
* Create greater brand awareness. The more people review personalised material - and the average time for transpromo review is over two minutes - the better the chances of them remembering the brand. This cannot begin to be compared with the shakeout factor that occurs in traditional media, such as knock-and-drop newspapers and normal envelope stuffing.
* Generate better cash flow by truncating payment cycles. People who scrutinise their transactional documents are more likely to settle their accounts timeously.
* Give customers a superior experience. The more a company tells them what it has, and what is relevant to them, the more certain they are to have a better experience, and in that regard, word of mouth will follow. The alternative - mass communication - undoubtedly does not engender loyalty, whereas a superior and personal customer experience does.
* Open the option for mass customisation. The ability to talk to millions of people as if each was the only one that mattered is at the heart of communication. Every radio broadcaster is taught that they are speaking to only one person at a time. Mass customisation - the ability to customise, and personalise, messages to millions of people - is at the very heart of transpromo and replicates the radio personal experience.
* People know when they are being treated like so many sheep, and the ability to cut to the heart of a consumer through engaging with him directly and personally is what makes transpromo work.
* Reduce traffic to call centres, by engaging with customers in a direct and personal manner.
Transpromo only works when business benefits, and that implies an up-front return on investment analysis. Get this right, and transpromo will fly.
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