3. Spread prospect mailings. Don’t put all of your prospect circ in one drop. Instead, spread your prospect lists over multiple drops. This way, you’re covered if an unexpected event — e.g., natural disaster, the stock market tumbles, more consumer bad news — impacts sales. The economy is fragile and subject to daily news reports, so mailing all of your prospect lists, or even just your best performing lists, at the same time is like putting all of your chips on one roll of the dice. Spread your risk.
4. Narrow prospect list selects. Tighten the select on prospects — i.e., average order size, recency of last purchase and so forth. Add a multibuyer select, or tighten the recency select so you mail to the more recent buyers, for example. The tighter the select, the better the list should perform. This will increase your list costs but should improve results while taking some of the risk out of mailing to outside prospects.
5. Prioritize prospect lists. Look at your list relationship reports, which show how lists “hit” against each other, from the output of your merge/purge. If there are prospect lists that “hit” at a high rate to each other, mail these lists in different drops for higher net. This maximizes the quantity of your better performing lists within any given mailing.
Don’t change the number of contacts; separate them if you can. If they perform well, don’t mail them less often.
6. Negotiate list rates. Don’t pay or accept list datacard pricing. Tell your broker what you want and/or need to pay for the list to make the cut, depending on your own incremental break-even criteria. This is an honest and effective way to negotiate list prices. Instead of asking for the list owner’s best price, let your broker know how much you can afford to pay for that list.