Newsletter

October 2010

MindFireInc Spotlight is a monthly newsletter prepared and edited by Ted Raymond of Allegra.

Fast Fact

A recent study identified that only 6.8% of marketers feel they have a robust process for nurturing leads.

Source: Allegra / KEO Marketing “2010 Marketing Trends”

Sales Tip: Pricing a Good Design

What is the value of a good design on a print piece? The price versus value question is one that many service providers struggle with. Many providers want to charge for a design on an hourly basis. This hourly mentality works well in a manufacturing environment, but may not be the best way to price projects that require knowledge based workers.

When pricing a high-end design, consider a few things. Let’s take the example of two different print pieces:

One took less than two hours to design and the other took 4 hours. Which one is worth more? The reality is that there is no way to tell which one is worth more. However, if you are pricing by hour, you are forcing yourself to put a higher value on the piece that took longer to design.

In the example above, let’s say the 75 minute design was done by an Art Director who clearly understands direct marketing. She designed the piece to meet business mail standards outlined by the USPS. She included a clear headline that grabs the reader’s attention. Once the recipient begins to read the piece, they see a clear call-to-action and respond to their pURL. The overall design grabs the recipient’s attention and compels them to take action.

Let’s assume the second piece that took 4 hours has a different look to it. Perhaps the piece is very copy heavy. Also, let’s assume that the call-to-action is not clear. Overall, the piece does not have an eye-capturing look of value.

Now, which piece has more value? Great designs that come together quickly should not be undervalued. Just because your talented team was able to produce an award winning piece in a matter of a few hours, does not mean you should be compensated unfairly for it. Ask yourself some simple questions to help understand the value of the piece:

•  What is the potential revenue that will be driven from this piece?
•  How wide is the distribution for this piece?
•  If the client had their agency create the piece, what would it cost?

These simple questions can lead you down the path of value pricing high-end design. This same mentality can be used when pricing pURL development. Just because you can launch a pURL in three hours does not mean you should sell it for $300! Keep in mind that even simple pURLs have $3000 – $5000 in value.

Tech Tip: The Growth of QR Codes

As QR codes gain in popularity, many marketers are looking at how to integrate them into campaigns. However, with this new found willingness to test the technology, a number of questions have emerged. In this article we will examine three tips to support your QR campaign:

First and foremost, think about how people will use the QR code. One of the most common mistakes marketers make is using a QR code that resolves to a regular website. If you are using QR codes, you should assume the user will access the site through a mobile device. Therefore, it is important to have a page that is optimized for a mobile browser.

Second, if you are marketing to audiences that may not be familiar with a QR code, provide some instructions. Put a small amount of text around the code that instructs users. For example: Download scanning software from your mobile device at http://getscanlife.com.

Finally, if you are also using a pURL as a response channel, consider adding an additional page with information. Perhaps on the landing page you can put an image of the QR code with some text that reads, “What’s this?” The image could actually be a hyper link that goes to an additional page with information defining a QR code, explaining how it works, and how users can experience the interactivity of print, mobile and web.

Data Management: Targeting the Mailing List

Have you been looking for a way to enhance the results one of your clients is getting from their “house list”? One simple way to improve results is to enhance their data with appended information.

Nearly every list broker has the ability to append data. This process is straight forward but can easily provide a great deal of insight. In most cases, the data compiler will have you send a list that has basic mailing information like names and addresses. The data compiler will then take the list and match it against a number of databases.

Each time a match is made, incremental information will be added to your file. For example, if you have a list with only a name and address, it might be helpful to know more about the prospect you are targeting. Perhaps you want to know their age or if they have children at home. This data is readily available and can be added to your file.

After you have information appended, you can now work on micro-targeting your message. For example, if you are marketing a family friendly resort getaway you might have a headline that reads “Get Away with the Kids” for a prospect that is age 32 and has young children at home. On the other hand, you may have a headline that reads “Spoil Them Rotten” for the prospect who is 65 years old and has grandchildren. By simply adding this data, one can see how much more effectively the message can be targeted.

Data enhancement is not a perfect science. Keep in mind that while this tool is an excellent way to learn more about your prospects, it is not flawless. Typically, when appending consumer data, you can expect that 70% – 80% of your records will have a match made. The balance of records are simply those that do not match or do not have any incremental information.

The cost for data appending can vary greatly depending on what type of information you are looking for. The most common types of consumer data can often be appended for under $100 per 1000 records.

Cross Media Tool Kit

As service providers develop more complex cross media campaigns, they often find they need to develop new ways to manage projects. In this article we will discuss three tips to help your team work together on complex projects.

First and foremost, it is essential to create a formalized process around cross media. Start with a simple campaign brief. A campaign brief is a document that can be developed in partnership with your client. It should outline the aspects of the campaign. Most importantly who the campaign is targeting, what channels will be used, when the campaign will launch and who the key client contact will be. This high level document is used as a grounding point to ensure both the client and service provider on the same page.

In addition to the high level objectives of the campaign, the brief should also contain information on the specific look and feel of the campaign. It may include a brand standards document from the client. It should also outline a specific timeline with accountability on who is responsible for each aspect of the campaign. This timeline should include items such as, who is creating a copy, who will be registering the domain, and how will the campaign be proofed. The MindFireInc resource center has a campaign brief template available for download within your control panel.

Status meetings are key. While large campaigns are in progress, it is important to “huddle up” on a daily basis. Cross media campaigns by their nature have a number of moving parts. This means that communication among your team is vital. These status meetings can be informal updates on what is happening with the campaign and in many cases may only take a few minutes.

As your campaigns increase in volume and complexity, it may be important to use a software solution to help manage the process. Project management software is easy to come by these days and can prove to be an invaluable tool. Consider a product like Microsoft Project or even a cloud-based solution like Base Camp http://basecamphq.com.