This is the third in a four part series that we hope will help you be a better marketer. Here are two more best practices for utilizing digital printing technology in your marketing plan.
Think about pricing, not in terms of individual project cost or per-piece cost, but how the project impacts the bottom line.
One of the biggest mistakes that marketers make when evaluating digital print applications is thinking too narrowly about short-term investment rather than long-term gain. Or about the initial outlay and not bottom-line growth. It sounds counter-intuitive to spend more on a per-piece basis and still end up increasing your margins, but it happens.
The true impact can only be evaluated by looking at your business in a holistic sense and understanding how any given solution impacts your bottom line once all costs are taken into account. This is where understanding things like total return on investment, cost per lead (rather than cost per piece), and cost per response are so critical.
One specialty dental practice, Dr. Mark Wilhelm, sent out two waves of personalized mailings to 468 general practice dentists. The campaign had a 4.06% response rate, but with a 68% conversion rate of area dentists joining Dr. Wilhelm’s study club, the program was a huge success. Every dentist who refers a patient to Dr. Wilhelm represents an average of $20,000 in revenue. Even 4.06% response rate was tremendously profitable!
Utilize the benefits of multi-touch and multi-channel.
Testing continually shows that programs that use multiple touches through multiple media channels to reinforce a message are generally stronger (even those using personalized printing or other targeting marketing approaches) than programs that rely on a single medium alone.
In fact, in a survey of 416 marketers conducted by InfoTrends , very few were doing single-channel marketing campaigns anymore. When asked the average number of media types used in a direct marketing campaign, 56.1% said they were using three or more.
We are just starting to scratch the surface of how multi-channel marketing can use complementary media to boost the effectiveness of the message. This fact has not been lost on the top marketers, which are continuing to increase their multi-channel approach to their marketing.