Positioning Your Business For Tomorrow

Do you see marketing as a sprint or a marathon? Increasingly, marketers are taking the marathon view, developing their plans to focus on long-term results rather than just “right now” sales. In this view, marketing has a two-fold purpose: to foster immediate sales and to plant seeds for tomorrow’s.

First you must identify the factors that will further your company’s long-term marketing goals. You might not have a perfect understanding of every looming competitive, economic, legal, sociological, or technological force, but you can become alert to the possibilities. Arm yourself with information on the longevity and profit potential of your present market’s lifecycle as well as budding market opportunities so you can begin positioning your business for tomorrow today.

Here are a few ways to foster future business opportunities regardless of your business size or budget.

  1. Provide platinum-standard customer service. Your goal is always to exceed your customers’ expectations, but if you fall short, admit it. Many loyal repeat customers result from perfectly corrected errors.
  1. Cultivate your elite customers. Your best customers—those who are easy to work with, who really like you, and who have a positive history with your company—are a goldmine of quality referrals. Strengthen existing relationships and build new ones by giving your top clients and their guests special offers, insights, and previews of your innovations.
  1. Create top-of-mind awareness. Not everyone needs your product or service today, but many will at some point in the future. Capitalize on your vision of emerging needs and trends, communicated using our suite of multi-channel marketing tools and techniques, to get your product in front of tomorrow’s customers now.

It takes time for the seeds you plant today to germinate into future business. Essential to all of this is to communicate effectively with your target audience. Consult with us to learn how our technology and expertise can support these efforts and put your ideas in motion!

Posted in Uncategorized | Leave a comment

What Marketers Can Learn From Magazines and Newspapers

Digital marketing channels have an important place in the media mix, but as marketers have learned, ubiquity of presence doesn’t necessarily translate into greater profitability or effectiveness. Recently, an article in USA Today reinforced this conclusion. It discussed the hard copy vs. digital issue from the perspective of traditional print media, and there are important conclusions for marketers.

Despite the pounding that traditional media have taken in public opinion lately, here are a few points from the article worth noting:

  • Investors are still lining up to make bids for ownership of traditional print news media. In fact, one group offered Time Inc.—not fire sale rates—but a 30% premium for its shares. The offer was rebuffed because management felt the paper had too much value.
  • Tronc, formerly Tribune Publishing, also refused an inflated offer to buy its shares, even after a bidding war that drove up the price.
  • Although margins are declining, many newspapers and magazines remain profitable. The fat has been trimmed, and profits are now about cost management and efficiency.
  • What isn’t making a lot of money? Digital channels. Readers expect to have access to digital content, but after 20 years of fiddling with revenue models, publishers cannot figure out how to make it truly profitable. Readers expect digital content to be free. The revenues from the digital arms of traditional publications still cannot compete with those from print.
  • Traditional publications like Time, Fortune, and The Washington Post (along with more populist publications like Sports Illustrated) have something digital channels do not—reader trust and loyalty.

What can marketers take from this? The print vs. digital debate isn’t unique to marketing, and neither are the conclusions.  Whether it’s traditional news media or print and multichannel marketing, print continues to maintain a value and importance in the mix that cannot be replaced by digital channels.  In order to maximize profits and reader (or customer) engagement, you have to include print.

Link: https://www.pressreader.com/usa/usa-today-international-edition/20161206/281698319368703

Posted in Uncategorized | Leave a comment

Not So Fast: Print Ain’t Dead Yet (AKA Direct Mail Outperforms Digital Channels by 600%)

In lieu of blogging my thoughts today, I wanted to share a recent article by David Rosendahl, one of the founders of Mindfire. I hope you find it as interesting as I did.

 

Image result for direct mail images

If you think direct mail is dead, I say you, my dear reader, may have your head in the “cloud”.  Before you call me crazy, consider the following:

The Direct Marketing Association recently reported that direct mail’s response rate surpasses that of all digital channels — by a long shot.   

According to their research, direct mail achieves a 3.7% response rate with a house list, and a 1% response rate with a prospect list. OK, sounds very respectable, right?

But it gets even better:  Mobile, paid search, social media, email, and internet display combined (yes, combined) only achieve a .62% response rate.  Put another way, print outperforms all digital channels combined by over 600%.  Print outperforms all digital channels combined by over 600%.

If that’s not a repudiation of the “print is dead” mantra, I don’t know what is.  (By the way, when people say “print is dead,” I take it to mean one of two things: they believe print no longer performs well in the face of digital media, or that print output is declining in the United States.  We’ll talk more about this in a moment.)

Let’s get into a few more of the details to understand how these response rates break down.

Direct Mail Response Rate Highlights

In comparison to direct mail, how did each of the digital channels stack up?  Here are the average response rates reported in the survey by channel:

  • Mobile: 0.2%
  • Email: 0.1% (for a prospect list);  0.1% (for house list)
  • Social Media: 0.1%
  • Paid Search: 0.1%
  • Display Advertising: 0.02%

You like charts (right?), so here’s a handy bar graph illustrating each channel’s response rate: 

Which offline channel has the highest response rate?   Did you catch that in the chart?  It’s the telephone.  Yep.  It had the highest response rate at 9-10%.  So pick up that phone and start making calls.

How does direct mail’s cost-per-acquisition compare to other channels?  Cost-per-acquisition for direct mail is very competitive. Direct mail stands at $19, which fares favorably with mobile and social media (both at $16-18), paid search ($21-30), internet display ($41-50) and even email ($11-15).

Are there certain direct mail formats that do better than others?  Yes.  Formats play a role. According to the study, oversized envelopes have the best response rate at 5.0%, followed by postcards at 4.25%, dimensional at 4.0%, catalogs at 3.9%, and letter-sized envelopes at 3.5%.

In addition to direct mail, how many channels are marketers using?  Marketers continue to embrace multi-channel marketing, with 44% of the respondents using three or more channels for their marketing efforts. In these instances, the most popular channels were direct mail, email, and social media.

So What Are the Opportunities With Direct Mail?

As with all data, we can draw a variety of (often conflicting) conclusions.  But follow me for a moment:  The study also asked, why, if direct mail performs so well, do marketers object to using it?

They found that marketers say their biggest problems with direct mail are: its cost, the effort to deploy it, and difficulty tracking results.

Let’s break each of those objections apart:

  • Cost should only be an issue if the overall marketing campaign is not ROI positive.  If direct mail creates leads, and those leads turn into opportunities — and those opportunities turn into enough sales to exceed your investment in the campaign, what’s the problem?  You may not have a handle on your metrics, or maybe you have a math problem — but don’t blame it on the medium.
  • If deploying direct mail is difficult, keep in mind that there’s somewhere around 25,000 printers in the United States (not to mention agencies and other types of service bureaus).  If you can’t find one that meets your needs, give us a shout and we’ll connect with you at least half a dozen.  There’s plenty of great talent and hardworking people who will take the burden of direct mail’s complexity upon themselves to free you up to drive revenue.
  • If you’re having trouble tracking the results of your direct mail campaign, then perhaps you’re unaware of the variety of solutions that are available to make print measurable.  The good news is multi-channel marketing automation software can help.  If you’re not using a platform to track your mail and generate more leads, you’re most likely leaving money on the table.

“But wait a moment,” you say to me, still unconvinced, “doesn’t the study also find that fewer companies report using direct mail?  Doesn’t that suggest it’s not working for others, and thus companies use it less?”

Yes, my friend, you’re right.  The study does find this to be true.  We’ve all seen the print forecasts and there’s no denying that there’s a diminished output across the United States. But I submit to you that within this challenge lies your opportunity.

Why?  What if it’s also true that because there is less competition in the mailbox for your prospects’ attention, your message may get more easily in front of your prospect?  Combine this thought with something else the DMA has reported: direct mail response rates over the past 2 years are rising.

So, not only are you competing against fewer people for your prospects’ attention, but response rates are also moving in your favor — meaning that you’re more likely to generate leads.

In light of these facts, the only sensible thing for us to do is test, test, test.  Get out there and see if this might work for you.

You might be surprised.

Thanks, David Rosendahl, for the great article! And, dear readers, know that when you’re ready to put your direct mail ideas in motion, Multi-Craft is ready to help!

Posted in Uncategorized | Leave a comment

The Right Content At The Right Time

Increasingly, marketers are looking at the sales process as a set of stages, with each stage of the process requiring different types of content to move prospects from one stage to the next.  This process is called lead nurturing.

One of the most important tools for lead nurturing is content marketing. According to BPM Online, which offers a platform for process driven CRM, B2B marketers overall allocate 28% of their total marketing budgets to content marketing. However, companies that see the best return from this channel tend to allocate up to 46% of their budgets for content marketing. Content marketing is a great investment!

Image result for lead nurturing images

 

According to BPM, there are three stages to lead nurturing:

Early Stage (Awareness): During this stage, you want to provide free access to content. This includes white papers, research papers, curated content, infographics, and webinars.

Middle Stage: (Consideration): At this stage, you want to start qualifying prospects as warm and hot leads so your sales team can stay in contact with them and funnel these leads appropriate content at the right time. Content at this stage should be gated so you can identify and qualify these leads. Content might include RFP templates, calculators, guides, and analyst reports.

Late Stage (Evaluation): At this stage, you will be communicating only with the most qualified leads, so you want to make their purchase decision as easy as possible. Content should once again be free and ungated, including product demonstrations, success stories, and video testimonials.

According to BMP Online, 79% of marketing qualified leads (MQLs) never convert into sales because of the lack of lead nurturing. This is not a process you want to overlook!

Need help putting your lead nurturing process in motion? Give us a call!

Posted in Uncategorized | Leave a comment

What You Need To Know About Digital Stocks

Today, the range of stocks compatible with digital presses is vast, and thanks in part to the range of available substrates, the image quality competes with (some say exceeds) traditional offset. With all of the advances in today’s substrates, what do you still need to know when choosing paper for your next project? Recently, Joe Schemer, specialty digital product manager for Mohawk Fine Papers, spelled out his advice in Printing Impressions magazine. Here are the “must know” issues he discussed:

  1. Digital stocks are available in a full range of sizes to fit today’s press formats. From 8 ½ x 11” to 20 x 29” is standard. Some mills even produce specialty sizes such as 13×30” for banners, dust jackets, and panoramic prints. If you have a specialty need, just ask!
  2. Prices for digital sheets have come down. By request, even less common sheet sizes can be produced economically when ordered in volume.
  3. Whether it’s extremely lightweight or card stock, or specialty finishes like linen or felt, there is a paper compatible with the press on which you will be printing. Keep in mind that digital presses can now print on textured stocks, which will increase your response rates.
  4. Printing on coated sheets is standard. OEMs are working with paper mills to develop coatings specially engineered to match the stocks certified for their presses. Regardless of the individual paper mill or the presses on which their stocks will be printed, all are working provide stronger ink adhesion, no cracking on the fold, minimal jamming on press, and minimal build-up on press.
  5. Despite advances in substrates and engineered coatings, it’s not one-size-fits-all. Digital production still requires matching the paper to the press and taking into account issues such as static, image quality needs, and curling. For premium projects, it’s worth paying more for a premium stock, especially if you will be producing jobs with photographic images or heavy coverage, because it does produce better results.

Need help selecting the right stock for your next project? Work with us to make sure that you are getting the right sheet to produce outstanding results.

 

Source: “When Heat Hits Paper” (Printing Impressions http://www.piworld.com/partner/heat-hits-paper/)

Posted in Uncategorized | Leave a comment

Rethink Ink on Paper in a Digital World

Image result for 2017 imagesThe New Year is the perfect time to rethink your print marketing strategy, revamp your messaging, consider mobile and refresh your brand. This requires an understanding of the role traditional ink on paper plays in a time when technology adoption and digital delivery are reshaping marketing and customer engagement.

  1. Invest in customer retention. We all know that it costs less to keep the customers you have than to capture new ones, so keep your customers engaged with a consistent multi-channel marketing plan. Maybe you’ve abandoned a print newsletter for an e-version, but your email is getting lost in the inbox and anti-spam legislation is creating new challenges for deliverability. Mailing a newsletter, particularly one that uses variable data to deliver a personalized message, is a great way to keep your company top of mind.
  2. Get to the point. Your customers have more choices and less time than ever before. Rewrite your copy to tell consumers why your company is the only real choice. Change rambling copy into a powerful, focused message.
  3. Be the customer. When you take a step back, are you engaging customers at the right time through the right channels? The way content will be created, delivered, and consumed in 2017 isn’t the same as it was only a few years ago. Is it worth your prospect’s time to follow you on Facebook or Twitter? When they scan the QR Code on your direct mail piece, are they landing on a page with a specific call to action?
  4. Freshen up. If you’re anticipating a change in management, introducing a new product or service, or celebrating a significant business milestone, consider a brand refresh. With slight revisions to your branding elements and positioning, you can preserve your brand’s existing equity while infusing new energy into your offerings.
  5. Mobile. Is your website easily viewed and navigated on a mobile device? If not, make this the year to do that. If visitors have to scroll left and right, or take extra steps to enlarge the type to a readable size, they’ll probably just click out and go elsewhere – likely to your competitor. Mobile is not only the first screen, but often the only screen that targets use to read your email and view your website. Make it easy!

Need help navigating the increasingly complex world of marketing? Let Multi-Craft help get you off to a profitable start in 2017 by putting your ideas in motion!

Posted in Uncategorized | Leave a comment

Happy New You!

No, the title isn’t a mistake. This is the time of year when we look back to assess our lives over the past 12 months and plan for the next year. For most of us, this means New Year’s resolutions.

According to statisticbrain.com, 45% of Americans make New Year’s resolutions. Some of the most common resolutions are:

  • Lose weight
  • Get organized
  • Save more
  • Quit smoking
  • Stay fit

Resolutions tend to be inwardly focused – all about us! Our body, our life, our habits. Yet, according to Forbes.com, only 8% of us will succeed in keeping those resolutions. Why?

Apparently, we are all a little too ambitious when looking at what we want to accomplish in the coming year. Instead of focusing on 1 or 2 worthy goals, we develop a laundry list of things we want to change or accomplish. A long list of to-do’s can be overwhelming and set us up for failure.

So, consider setting a few, small, attainable goals  to focus on throughout the year so you don’t become overwhelmed. I would suggest that those goals should also be measurable. A measurable goal can help us stay focused and let us know when we have met the goal, or if we need to adjust our tactics. For example, don’t just say you want to lose weight. Instead, state that you want to lose 5 pounds by March 1. It’s a sensible goal, it’s timebound and it’s measurable.

Just stating a goal isn’t enough. You must have a plan that will help you meet that goal. If you want to lose 5 pounds by March 1, what will you need to do to make that happen? Your plan would likely include:

  • Exercise – detail what type and how often.
  • Gym – can you afford a gym membership or will you need to focus your exercise plan around a home gym or personal activities such as walking or running?
  • Healthy eating – decide what type of food you will eat and what you will avoid. How will you handle food at parties or out to dinner with a friend?
  • Partner – some of us do better when we have a workout buddy or someone we report to on our progress.

A plan can help you make those daily changes that are necessary to help you attain your goal. A goal without a plan is really just a dream.

Once you’ve accomplished a goal, you can replace it with another. This can set up a cycle of continuous improvement that can become a lifestyle.

Happy New Year! Happy New You! Multi-Craft hopes that your 2017 is everything you want it to be!

Posted in Uncategorized | Leave a comment