Subscription Marketing Basics Still Create Winning Formulas

Despite modern publishing’s multi-platform environment (print, web, mobile), many long-time subscription marketing rules retain their relevance. A recent post from Bill Dugan, for niche magazine consulting firm Mequoda, stressed just that point by reminding audience development pros of the fundamentals for price, offer and creative. As a list brokerage with many paid or controlled circulation clients, AccuList USA would, of course, add another important component: quality data

Price, Offer, Creative

As Dugan stresses, the art and science of pricing still counts. In pricing, whether for print, online, tablet or combination packages, subscription marketers actually have an edge over many other products by being able to sell the same product at different prices each time it’s purchased, from a new subscriber to each subsequent renewal. Pricing strategies can include 1) simply the same price at every stage of buying or renewing; 2) giving the more price-sensitive new subscriber an introductory discount and then selling renewals at full price; 3) maximizing response and profitability with a step-up program from a low introductory price through gradual renewal increases to maximum; and 4) rewarding subscribers with a lower monthly price for selecting a longer (annual) term. Next, marketers can build a range of offers. Based on testing, Dugan reports that the best response is earned by a “soft offer,” meaning a trial free issue or more, plus a premium and a bill-me-later for a full subscription. The lowest response offer is the old-fashioned hard offer, requesting up-front credit card payment with no trial or premium,per his testing. And finally, direct marketing success requires wrapping the offer in effective creative. A key to creative response today, whether direct mail or e-mail, is personalization that focuses on the target customers’ needs.

And Market-Tested, Targeted Lists!

Of course, effective personalization requires targeted, quality data! So while Dugan didn’t talk about the paramount importance of data, we remind marketers of the continuing relevance of either the 40-40-20 rule (40% of response success from audience/list, 40% from offer and 20% for creative) or the 60-30-10 formula (60% from targeted audience/list). Bottom line, good audience data is key. To support digital and print publishers, AccuList USA turns to its proprietary research on market-tested data and selection parameters most likely to boost response. That means lists such as those targeting active subscribers to trade or consumer publications; book buyers having specific interests; digital or print edition subscribers; known subscribers at work, home, or waiting room address; or subscribers with Facebook profiles.

For the complete Mequoda article, see http://www.mequoda.com/articles/subscription_websites/subscription-marketing-the-more-things-change-the-more-they-stay-the-same/

Push Your Event Marketing E-mails Ahead of the Pack

During close to 30 years of direct marketing to help trade shows and conferences boost attendance and sell exhibitor space, clients often have asked for guidance on event industry response for e-mail campaigns. Now we can enhance data pulled from our proprietary research and experience with Eventbrite’s new “2017 Event E-mail Benchmarking Report,” comparing survey responses from over 340 event organizers across the U.S. and U.K. for a range of event types and sizes.

Benchmarks to Emulate

If you’re an event marketer with a fuzzy notion of the basic response measure of click-to-open rate (CTOR), you’re not alone. The benchmark report found that 39% of respondents said they didn’t know their average CTOR. That’s an ignorance that these event pros need to remedy if they hope to catch up with even average e-mail results. The rest of the U.S. event organizers surveyed reported an average CTOR of 12%. That was higher than their U.K. brethren, who only cited a 9% average, but far behind the enviable 17% in the U.S. who reported a CTOR of 21% or higher! Festivals scored the best average e-mail CTOR (14%), while classes and workshops had the lowest (9%).

Copy & Design to Boost Click-to-Open Rates

Event marketers who want to improve CTOR can commit to a number of basic creative tactics. First, they can revisit layouts and make sure they direct recipients to a compelling and clear call-to-action. Then, copy should be relevant, personalized and spam-filter avoidant, running from a great subject line that entices opens to copy that wins clicks. Obviously, mobile-optimization is a must now that the majority of e-mails are opened on mobile devices. Note that the most effective e-mails today also include an engaging image. E-mail research has found that e-mail campaigns with imagery have a 42% higher CTOR than campaigns without images, for example. (Don’t forget to comply with CAN-SPAM opt-out and privacy regulations, of course.)

Target, Test, Automate, Integrate

As data brokers, we must remind that response is even more dependent on the quality of targeted opt-in e-mail data, whether house or rental lists, and use of professional software and database support for list segmentation, updating and permission management as well as results tracking, testing and analysis. Indeed, regardless of carefully crafted e-mail creative, results measurement and analytics are essential to a direct marketing basic: testing of creative, lists and targeting to find what works best. Automation of event updates and confirmation/thank-you e-mails has also proven its value in maximizing click-through rates and conversions/registrations. And, finally, e-mail gains the most reach as part of a consistently branded, multi-channel effort, leveraging social media’s e-mail list building strategies, for example, as well as the proven marketing power of direct mail. (Ask us about our Digital2Direct marketing program that matches postal and opt-in e-mail records to send targeted mail and e-mail to the same recipients.)

For more metrics from the new event e-mail benchmarking survey, get the free report at https://www.eventbrite.com/blog/academy/2017-event-email-benchmarking-report/

Direct Mail Woos Millennial Shoppers by Embracing Their Digital Side

With the millennial generation, roughly those aged 18-35, now outnumbering boomers, most marketers want to keep this big batch of younger purchasers in their crosshairs. Yet direct mailers sometimes report frustration that response does not match assumptions and expectations from mailing lists and creative.  One cause of lower than desired response may be failure to take into account how millennial shopping and buying habits differ from those of other generational groups.

Yes, Millennials Shop Differently (and Digitally)

A recent article by eMarketer, drawing from its “US Millennial Shoppers 2017” survey report, cited three shopping habits that should be of interest to direct marketers. First, millennials tend to prefer digital shopping, even while in stores. Second, millennials are very comfortable with mobile shopping. And third, millennials have a strong presence on social platforms yet also respond well to direct marketing via e-mail. (See more on the report.)

How Direct Mailers Can Woo Millennials

Millennials are not averse to direct mail–but it depends on the direct mail. Target Marketing magazine’s Summer Gould recently cited five reasons direct mail may flop with millennials–and three come back to the clear digital preferences identified by eMarketer. First of all, a direct mail offer that does not include an online purchase option is missing sales, Gould points out. And, per eMarketer reporting, mailers may be losing sales in a big way considering that 90% of millennials, 93% of Gen Xers and even 84% of boomers said they bought online in a June 2016 Berkeley Research Group survey. Next, since millennials clearly embrace mobile shopping, every aspect of the shopping experience should be mobile-friendly (website, landing pages, shopping cart), Gould advises, and it is certainly key if the direct mail includes mobile-scanned QR codes to connect digitally. Then, since social media matters to millennials and is where they do research before they buy, a direct mailer lacking a social presence is also snubbing millennial shoppers. But not just any social outreach will do; millennials want authentic, informative, humanized interaction.

Friendly, Authentic, Tech Savvy

Regardless of digital messaging, printed content also needs to seem authentic and friendly if the mailer wants millennials to make a connection with the offer and the brand, per Gould. Millennials value companies that make them feel good, she points out, so mailers should review their creative and remove the phony or impersonal. Finally, millennials expect a company to be up-to-date with technology and to integrate marketing, shopping and sales with technology–whether in-store, in direct mail, or on the website. Millennials can relate to direct mail offers–but not if they are tied to a company that lacks the technological savvy to make interaction easy, seamless and personalized. Do millennials’ digital and tech preference mean that direct mailers can only succeed by stuffing technology into print pieces–QR, AR, video, etc.? Not necessarily, answers Gould. As with any marketing effort, just test what makes sense for enhancing audience experience and boosting response.  For Gould’s article, see http://www.targetmarketingmag.com/post/how-to-get-millennials-to-respond-to-your-direct-mail/