You Still Don’t Rent Out Your List?
One change in recent years has to do with the number of companies that manage their file in-house. Most catalogers now are looking outside to list management firms. That’s because catalogers often don’t have the internal staff and realize they need the extra exposure only an outside list manager can provide.
There are a few angles to consider today when exchanging your mailing list. While some of these eight tips are fairly standard and timeless, others are quite relevant to the times and could be eye-openers.
1. Keep your list updated regularly so the names are fresh. Otherwise, mailers will stay away from using your file. Names older than six months often are considered too old to mail. Recency is key.
2. The more list selectivity, the better. This will give you, the list owner, access to additional markets. It also will give the mailer the opportunity to find other pockets (i.e., selects) within the file if it doesn’t work the first time a particular list is tested.
3. Be careful of the mail piece. The list owner needs to feel comfortable with the company accessing its file. For example, in a lower-end market, many mail pieces can be misleading, and several of these types of offers are being declined.
4. Keep the pricing competitive and remain flexible. Be willing to negotiate with noncompetitors.
5. While you always should screen and approve mailers that want to rent your file, view them from your customers’ perspective. Eliminate offers that are inappropriate based on your own definition.
6. Try holding back some of your housefile for a period of time. Some companies hold back their best names from their 30-day hotline buyers.
7. Consider exchanging on a name-for-name basis using the same selection criteria, such as the last list select of three-month buyers who spent more than $100. Don’t let your exchange balance get too skewed one way or the other.