Postal Reform, Shmostal Reform: Beat any postal increase NOW (and look like a hero!) Part 3 of 3
13. Reactivate old customers and inquiries: Have one of the catalog co-ops, such as Abacus, develop customer reactivation models for you. Co-ops can build a list based on your past customers and inquiries. This list is compared against recent buyer databases, and if the customers are in a buying frame of mind they go in to your mail plan. This is less costly than list rentals and the response usually is better than a cold list rental due to the fact that these customers have a prior relationship with you.
Note/caveat: Before you attempt to make any changes to your catalog or business model, always test, retest and run the numbers in advance. Don’t make global changes to your catalog or business model without it. The results can be deadly (as I’ve spoken about before ad-nauseum, so beware). Jim’s rule: always split test any new idea, your current catalog (the control) vs. your test (hypothesis) catalog.
Comments? Something I missed that you’ve tried? Disagree with me? Fire off your thoughts below.
Jim Gilbert is president of Gilbert Direct Marketing and a professor of direct marketing at Miami International University of Art and Design. He can be reached at email@example.com.