Strategy: Prospecting to Selected ‘Pockets’
Cooperate With Co-ops
1. Don’t block competitors when using the co-ops. It’s never wise to “block” a competitor in a co-op from getting access to your names through the modeling. If you set up a block on a competitor, the co-op automatically will block you from any access to its buyers. This will shrink (not expand) your prospect universe.
2. Always take full universes from proven models. Once you’ve tested and established that a particular model is working, take the full universe of names within the top tiers (at least tiers 1 and 2). Maximize your results by mailing all available, as opposed to diluting your results by mailing smaller quantities to more model selects.
3. Test deeper into the proven models to expand your prospecting universe. You know a model works, despite the fact that you’ve only mailed tier 1, test tier 2 and perhaps tier 3 of the same model. Once you find a model that works for your offer, it makes perfect sense to mail deeper, then apply point No. 2 above. Again, roll out the universe for that tier once you know it’s working.
4. Always allow room in your circ plan to test new models to expand your prospecting universe. Plant those seeds! Never rely on proven models without testing new ones if you want to grow your business and find other “pockets” that work for your offer. Test 10,000 names from a new model segment (or two). Have the co-op build new models off the continuation models you know are working.
5. Use all of the co-ops. Yes, there’ll be overlap from one co-op database to another. But they all use different methodology in their modeling; therefore, one will identify “good” prospect names to mail while another one might not. This obviously will expand your prospecting universe, as well. (See also “State of the Co-ops ’07”.)