Microsegmentation
Segmentation is the key to success in business-to-business marketing. By making use of standard industrial classification (SIC) codes, mailings can be closely targeted. For example, in one direct mail effort, Polaroid used 6 different versions of an advertisement keyed to various SICs. A photograph relevant to specific industries showed through a window cut in the outer envelope of the mailing. Metropolitan Life Insurance Co. has adopted the strategy of offering its financial products to selected groups, and Krug Champagne achieved a 70% response rate with a 4-part program directed at selected wine dealers and restaurant owners. Nash Direct of New York has designed many microsegmented campaigns and considers the technique critical to success in the business-to-business market. Fidelity Investments segments its mailings psychographically from past inquiry and investment actions.
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Nash, Edward
Full text: [Direct Marketing] Mar 1988
Direct Marketing: It’s More Than Just Mail; The Big YES and the Little NO; Ten Tricks of the Trade
Credit unions should not hesitate to use direct marketing techniques to sell their financial services to members. Direct marketing can be successful when it humanizes and simplifies the services a credit union can provide. Credit unions have an advantage in that they are “selling” to their members, who usually are willing to talk to a credit union telemarketer or open mail from the credit union. A direct mail specialist probably will suggest either a “classic” or a “condensed” mail package. However, it is important to remember that too much concentration on design or format can result in other important considerations, such as timing or the competition, being ignored. Direct mail packages usually have “yes” and “no” spaces indicating interest in the product offered. The “no” responses should be saved to contact at a later date. Some tricks of the direct mail trade include: 1. Use coupons. 2. Code all mailings. 3. Set a deadline. 4. Use 4-color photographs.
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Cosgrove, Howard
Full text: [Credit Union Magazine] Mar 1988
Reviewing the fate of Discover: the jury is still out
Although Sears’ Discover credit card has performed beyond expectations during its first two years, it still “faces enormous risks.” To date, Discover operating losses have exceeded $200 million. Discover has been successful with consumers and merchants, but what the card still needs is increased use, which is vital to profitability. In order to promote increased use, Discover has hired a new advertising agency to design a television advertising campaign.
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Feldstein, Stuart
Full text: [Credit Card Management] Mar 1988
Direct Marketing Creating The ‘Right Stuff’
In today’s marketing saturated environment, direct marketing needs to be addressed in terms of understanding the right strategic questions, according to James R. Rosenfield, president of Rosenfield/Vinson Direct. Successful direct marketing incorporates both direct-mail marketing and advertising, as opposed to a usual approach. Rosenfield advocates use of the “right stuff,” which tries to establish a long-term relationship with customers. This approach permeates the entire marketing and operations effort by creating an image and following throughout all of its processes, policies, and advertising. Rosenfield’s advice on direct-mail prices includes: 1. making them clear, 2. being logical, 3. humanizing, tangibilizing, and simplifying, 4. speaking to the right audience in the right voice, and 5. asking for the right kind of input from the customer. With the low tolerance that people already have for filling out forms, customers who are subjected to widely complicated response expectations will junk the mailing.
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Swope, Genilee
Full text: [Credit] Mar/Apr 1988
Building Up the Market Profile
Under the provisions of The Building Societies Act of 1986, societies now are free to offer insurance to investors and borrowers, as well as pension and investment products. Thus, UK societies are faced with marketing the new products to new customers while trying to woo traditional mortgage customers away from the High Street banks. As a part of the new marketing approach, Philip Court, chief executive of the Birmingham & Midshires Building Society, recruited a marketing manager, launched a series of advertising campaigns, employed direct mail, and turned his attention to the internal workings of the society, trying to interest existing customers in the new products. Consequently, offices now are designed for customer convenience and assistance, and staff are directed to serve customers’ needs in a friendly and efficient manner. Court’s plan also includes emphasizing to all employees that they are part of the marketing effort, which involves identifying and appealing to target customers.
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Ahrends, Jane
Full text: [Chief Executive] Mar 1988
Micro marketers battle with new ad strategies
Various advertising strategies are surfacing in the microcomputer market as the industry becomes more competitive. Dell Computer Corp. is using print advertisements to create brand awareness and complement expansion into direct sales. Although the firm manufactures its own computers and offers low prices, many people remain unaware of the company. A supportive distribution strategy includes a new value-added reseller program that should help Dell reach its goal of doubling its national account revenue in the current fiscal year. From the 3rd quarter of fiscal 1987 to the same quarter in fiscal 1988, Dell’s sales grew from $16.3 million to $41 million. Both Compaq Computer Co. and Apple Computer Inc. are boosting brand awareness through television advertising during major sports events. Compaq currently has three 30-second spots running, and Apple used its ad strategies to become the sole computer sponsor of NBC Television’s New Year’s Day football bowl game broadcasts. As a competitive measure, IBM Corp. released a marketing campaign in late January 1988 that included a 16-page insert in The Wall Street Journal. The insert later was run in other major magazines and newspapers.
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Bertrand, Kate
Full text: [Business Marketing] Mar 1988
Current financial advertising: stately columns herald roll-out of Chase’s investment products
Chase Manhattan Bank’s (New York City) print ads for its investment services use marble columns to emphasize the bank’s strength and security, while headlines proclaim, “A Proud Heritage. A Bold Vision” and, in the mutual fund ad, “A Proud Heritage. A Strong Family.” The ads are part of Chase’s $4 million campaign promoting its Vista Mutual Funds family. The ads provide readers with a coupon and a telephone number to use to obtain more information.
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Anonymous
Full text: [Bank Marketing] Mar 1988
NACHA to continue work on improving and promoting ACH formats
The National Automated Clearing House Association’s objectives for 1988 include: 1) improving the Corporate Trade Payment and Corporate Trade Exchange formats; 2) developing a marketing campaign about ACH network benefits and payroll direct deposit; 3) further automating the ACH network; and 4) clarifying NACHA operating rules. NACHA has asked to be excluded from the Federal Reserve Board’s Regulation CC on funds availability. The association argues that Congress never included ACH payments in its order that the Federal Reserve Board implement the Expedited Funds Availability Act and that NACHA rules already regulate ACH payments adequately.
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Anonymous
Full text: [Corporate EFT Report] Mar 2, 1988
OFFICE IN A BOX
A convergence of technological advancements and demographic changes has created the home office market. Most home offices are created by: 1. full-time employees who want to catch up on office work at home after hours or on weekends, and 2. entrepreneurs who started businesses from their homes. Telecommuting may be a larger factor in the future as more Americans move into the work-at-home category in the next 10 years. Manufacturers of home computers, small copiers, facsimile machines, and other office equipment and furniture are targeting this market through advertising and direct mail. Apple, for example, has launched a new ad campaign — “How to succeed in business without leaving the house” — touting Macintosh to home users. The rise in home offices was made possible by cheaper and more versatile home computers and helped along by cheaper, better looking support equipment. Of the big 3 sellers of high-end home computers, Apple and Tandy each have about 20% of the home market, and IBM Corp. has an estimated 30% share.
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Merwin, John
Full text: [Forbes] Mar 7, 1988
National poll: ‘is 1988 IRA’s curtain call?’
A “Bank Advertising News” study of IRA advertising found: 1) IRA deposits and advertising budgets are down nationwide; 2) institutions are using more direct mail; 3) some institutions have ceased IRA promotions; 4) some have increased their advertising because of a lack of clutter; 5) institutions are emphasizing new products, consolidations, and alternative solutions; and 6) a number of institutions have launched consumer education campaigns.
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Anonymous
Full text: [Bank Advertising News] Mar 7, 1988
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