As TransPromo continues to garner attention from companies looking to reap the benefits of marketing to existing customers, new trends are quickly developing. The opportunities available with TransPromo are huge. Transaction documents, like bills and invoices, represent 32 billion customer touch points, costing companies $120 billion per year. That's a lot of money spent on documents that achieve a 95% read rate from recipients. The failure to maximize the impact of these valuable touch points represents a missed opportunity to improve the bottom line.
Organizations including benefits provider Humana, hotel chain Best Western and leading Canadian telecom company Aliant have all seen impressive results with TransPromo campaigns. For example, Humana engineered a benefits statement by adding extensive personalized information — helping increase customer loyalty and retention by 17%, reducing calls to its call centers by nearly 50% and better serving customers by increasing the use of generic prescriptions by 40%. Best Western tested a TransPromo campaign against a control group — resulting in revenues up 30% over the control group, and Aliant redesigned its customer statement and decreased billing inquiries by 30%.
How are these companies succeeding? Taking simple steps, including the following, are a start:
- Sound strategy: TransPromo programs must first have a sound starting point with a carefully crafted strategy and clear-cut goals, signed off on by all stakeholders involved.
- Customer data: The secret ingredient in TransPromo success is having the right customer data to support the campaign. Many companies have CRM systems with information on the purchasing histories and preferences of current customers. Data management experts can also bring in market research and other information to increase the relevancy of promotional content.
- Science-driven design: Rather than relying on "creative instincts" when designing the TransPromo piece, consider behavioral science studies that will help you reach your target audience on a personal level when it comes to design — not just the words or images that appear on the piece.
- High-quality color: Don't underestimate the power of color. Today's digital technology makes it possible to produce cost-effective color TransPromo documents that will enhance the customer experience and improve brand image.
- Generational consideration: TransPromo documents can be delivered via traditional mail, through email or even SMS text messaging. Consider your target audience when deciding how best to communicate with them via TransPromo.
- Continual improvement: Throughout the campaign, continue to reevaluate and adjust strategy based on lessons learned. As additional customer data is collected, this can continue to increase the relevancy of promotional offers.
- Proven partner: An effective TransPromo program typically involves several steps ranging from strategy and data management to delivery and campaign analytics. Consider partnering with an outsourcing partner to develop and manage the program.
In a world where great results from marketing communications are hard to come by, and often expensive, there is a powerful business case to be made for TransPromo.
SUSAN KELLY [Susan.Kelly2@xerox.com] is vice president of Enterprise Marketing Services for Xerox. Ms. Kelly brings extensive knowledge and experience to Xerox in the EMS space combined with a strong background in sales and marketing. She has diverse operational experience with global organizations and multi-channel media environments.