How to Read a Datacard Like a Pro, Part 3
When I look at a datacard to decide the mailability of a prospect list, I look carefully at all of the details. I have an inquisitive and questioning nature and want to know everything I can about the lists I want to mail, but…
…Mostly what I want to know is what affinity the prospect list has with my customers.
The closer the affinity, the more I can assume this list is a good prospect for my mailings. If the list seems right, based on the information on the datacard, I move it from my “suspect” list folder to my “prospect” list folder.
Some datacards provide a great deal of information. Some provide sketchy details. Some of the information I’ve seen on datacards is even wrong. If something looks questionable or not right on a particular datacard, I question the broker who sent me the proposal that included this list.
I usually have a lot of questions for my list brokers. And I’ve driven a list broker or two bonkers in my career.
Anyway, what I want to talk about this week is list usage, and which other companies have used the list you’re considering, which companies ran tests, and which companies continued on and rolled out. You can learn a lot about a list by finding out who’s used it. Consider my thoughts:
* If list usage isn’t provided to you in your broker’s list proposal, ask for it.
* If they can’t tell you usage, then consider another list broker.
* If I see a lot of mailers that are in my same product category, or that I am already mailing, I know I might have a winner on my hands.
* If I see a list that I’m not familiar with, I’ll check them out. I’ve found a new list or two this way.
If you rent a mailing list and it’s successful for you, look at what other lists have been used by the same mailer. Chances are they’re using that list in a reciprocal arrangement. This is a certain percentage of one of the lists you currently use is made up of the other lists they use.
If someone mails your list and rolls out, consider them a good candidate for a reciprocal test. (Note: Have your broker arrange a list exchange, for greatly reduced list rental costs, called “run charges.” This essentially is the “cost” for the list management company to pull the list and send it to you.)
Remember, there are only a finite amount of mail order buyers out there. Some markets have more buyers than others. We tend to cannibalize each others’ customers through list rentals.
One company I worked with had more than 40 percent of its prospect lists names duped out during the merge/purge process (the process of making sure you only mail 1 catalog to each customer or prospect).
Speak to you next week.
Jim Gilbert has had a storied career in direct and digital marketing resulting in a burning desire to tell stories that educate, inform, and inspire marketers to new heights of success.
After years of marketing consulting, Jim decided it was time to “put his money where his mouth was" and build his own e-commerce company, Premo Natural Products, with its flagship product, Premo Guard Bed Bug & Mite Sprays. Premo in its second year is poised to eclipse 100 percent growth.
Jim has been writing for Target Marketing Group since 2006, first on the pages of Catalog Success Magazine, then as the first blogger for its online division. Jim continues to write for Total Retail.
Along the way, Jim has led the Florida Direct Marketing Association as their Marketing Chair and then three-term President, been an Adjunct Professor of Direct and Digital marketing for Miami International University, and created a lecture series, “The 9 Immutable Laws of Social Media Marketing,” which he has presented across the country at conferences and universities.
