The Power of the List
Have you sent out a mailshot recently? How did it go? Indeed do you systematically measure the results and the return on investment you get from mailshots? There are lots of percentages below, but if you want to know how to improve your sales rates tenfold, read on....
As a broad rule of thumb, most companies aim to get a response rate of between 1/2 of 1% and 1%.
Let's also say that your conversion rate for sales enquiries is one in four. Therefore to generate one sale from your mailshot you need to send out between 400 and 800 mailings
This is not encouraging... but what can be done to improve it? Let's consider 4 areas: -
- Copy: The words you use.
- Graphics: Any images you might add into a letter or your supporting marketing material.
- Offer: A special promotion or price.
- List: Who you send it to.
So where should you focus? Research has shown that improving the copy can give an improvement in response rate of 50%. Nicer graphics can improve the conversion rates by 100%.
Better still, using a special offer can give an improvement of 300% - That's why we use special offers for our telemarketing and consulting services: See our home page for our current special offers.
But the biggest improvements of all can be achieved by using a better list - sending it to the right people. Improvement here can benefit your conversion rate by a massive 1,000%!!!
Using a better list or database alone therefore can mean that instead of just getting one sale, you can get up to 10 from the same mailshot.
So now is the time to revisit your database. If you want to know how, call Adrian Barker on 01743 249992.
And if you are still not convinced, one final percentage for you: The typical customer / prospect database degrades by 40% every year. If you haven't cleansed your database yet in 2011, give us a call now and take up our special offer!
