There Are More Events Them Ever. WHY?
There are now more events than ever .Here's how companies can capitalize on this exploding channels .Its hard to beleive , but not all incremenral marketing dollars are marked for e-business. Good , old-fashioned events are garnering an increasingly larger slice of marketing budgets in the economy.
In fact, according to data from The Center for Exhibition Industry Research (CEIR), events are the third largest business-to-business marketing expenditure after advertising and promotion. In 1998 companies spent 17.3 percent ($12.6 billion) of their b-to-b marketing budgets on events, up from 10.7 percent in 1995. And 1.5 million companies exhibited at 4,500 events attended by 102 million people in the U.S. last year, according to CEIR. Those figures are projected to balloon to more than 2 million companies exhibiting at nearly 6,000 events attended by 125 million people in 2008. "Events offer a more efficient way to sell merchandise," says Doug Ducate, president and CEO of Chicago-based CEIR. "We have twenty years of research that events that companies exhibiting at events can bring products to market in half the time. Events speed up the selling process."Faster cycle times often mean increased revenues. And isn't that the goal of every sales and marketing executive?Too few companies, however, have mastered the art of exhibiting at events. Some firms still take the Field of Dreams approach: If you build a booth, customers will come. Not so. Companies successfully accomplishing their event objectives all have a specific strategy. They set measurable goals, generate quality leads, and keep their event staffs motivated. These exhibitors take their mission seriously and adhere to the following four basic principles of successfully exhibiting at any trade event:
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E-mail marketing – things to consider before you rent
What’s the difference between e-mail, direct mail and telephone marketing? At the fundamental level - nothing. They are all direct marketing mediums and, as such, basic principles apply. Here are two golden rules:
1. Test every element of your campaign (creative, copy, list)
2. Measure your results ( response, conversion, lifetime value)
Too often we are asked to provide a single e-mail list for someone’s campaign. Buying just one e-mail list is, in most circumstances, a short-sighted strategy. Without other lists to measure against, you will never know if you could have achieved a higher response or conversion rate to your mailing. You’ll also never know if you could have generated more profit. And, finally, you’ll never know why your mailing worked or did not work. The only way to really find out is to test all elements of your campaign against other options.
There is a more fundamental problem we experience all the time - the only criteria for choosing an e-mail list is price. The price of the list itself is meaningless and misleading. Meaningless, because it’s like buying a second hand car based solely on price and not checking it thoroughly to estimate what it is going to cost you to run and keep it. Spending more upfront may save you thousands later. Misleading because the only way to measure the real cost of a list is by how much revenue it generates for you. Let’s look at a simple example.
Source A
Quantity 100,000
List Price $125 per thousand
List Cost $12,500
Response Rate 1%
# of responses 1,000
Conversion Rate 30%
# of Orders 300
Average Order value $100
Revenue Generated $30,000
Profit $17,500
Source B
Quantity 100,000
List Price $50 per thousand
List Cost $5,000
Response Rate 0.75%
# of responses 750
Conversion Rate 20%
# of Orders 150
Average Order value $100
Revenue Generated $15,000
Profit $10,000
As you can see, a list that costs 2 ½ times another can be significantly more cost effective and produce more profit. How can you tell? Test both lists and do this kind of analysis on the “back end”. Responses can take several weeks to come in so it is worth continuing your measurement over time. Most professional direct marketing companies measure customer performance over a year or longer because they know that different types of customers behave in different ways over the longer term. Some cancel orders or only order once. Others buy frequently and remain loyal for a long time. All of these factors are critical to the success of your business so finding the right lists is a critical first step.
More questions? Call 760-607-2500 for immediate assistance or fill out our Call Me Now form and one of our Email Experts will call you. Fill out our QUICK QUOTE to get a quote via email.
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What we provide
Infocore supplies only CANSPAM compliant e-mails. E-mail compilers who have made the necessary investment to ensure that the e-mails they provide are authorized by the e-mail address owner naturally sometimes charge significantly more than compilers who simply trawl e-mail addresses from the Internet or who compile e-mail addresses without providing the required opt-in process. Also, because of their value these e-mail addresses are offered for one-time rental only. Finally, due to the portable nature of e-mails in addition to their value, the e-mail provider or his service bureau provide the e-mail blast service for you. There are usually fees associated with these services, which include set-up, testing, message transmission and summary report including “delivered”, “opened”, “opt-outs” and “bounce-backs”.
What you need to supply
You will need to provide the e-mail owner with a copy of the creative that you want to use to send to your prospects. Remember, everything in the e-mail must be CANSPAM Act compliant. If you already have an opt-out file from your own customer list or from previous e-mail blasts we can usually have your file names suppressed from the file you are renting.
Provide both HTML and text formats.
Timing
Because of the need to check your creative for CANSPAM Act compliance, the need to test the e-mail transmission, and optionally suppress an opt-out list it is important to allow between 3 and 5 working days from submission of all materials to the date of the blast. Bear in mind that some days of the week are reported to be more suitable than others for e-mail messaging, which may add an additional time interval.
For a recommendation on which of the widely available email lists will work for your campaign, fill out our QUICK QUOTE or a FREE CONSULTATION forms.
Helpful Hints
Avoid Spam and Junk filter triggers
http://office.microsoft.com/en-us/assistance/HA010450051033.aspx
Ensure that you populate both the “From” line and the “Subject” lines. Use information that will be recognized by the recipient and which is relevant to the message you are sending. Keep the “Subject” line succinct.
Personalize your e-mail and make sure the body of your message is as clear and concise as possible. Most people do not want to read lengthy e-mails and they want to know what it is you are offering as soon as possible. If you haven’t stated your value proposition in the first two lines you may be too late. Don’t forget to provide a physical mailing address – it is required by law.
Glossary of Terms
Blast – the transmission of an e-mail campaign to a list of recipients
Transmission - the transmission of an e-mail campaign to a list of recipients
CANSPAM Act – the act governing the transmission of e-mails
Delivered – confirmation received of an e-mail being delivered successfully to the recipient
Testing – a test conducted using sample or seeded e-mails to ensure deliverability of the main transmission
Opened – A message received indicating that the recipient has opened the e-mail that was sent
Opt-out – a request from an e-mail recipient to have his name removed from the e-mail list
Bounce-backs – A message received indicating that the e-mail delivery failed.
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