Elements of Direct Marketing Program
Establish your market objective:
Estimate the size of the market. There are two ways of doing it- (i) increased conception of existing users
(ii) increased conception of the market.
Evaluate the market place:
(i) Business environment (ii) Competitive analysis- who are they? Entry barrier. (iii) Customer-market segments- SEC, demographics, psychographics, identifying TG. (iv) Product-use behavior- heavy & medium user. (v) Product & market phase (vi)Evaluating past performance- % response rate, sales, no. of requests for information, no. of qualified leads, new customers acquired, lapsed customers, customer acquisition cost (ratio of marketing cost &
customer acquired), Customer lifetime value evaluation.
Developing a Communication Strategy:
Identifying TG
Positioning of the brand
Key selling proposition (USP)
Establish your market objective:
Estimate the size of the market. There are two ways of doing it- (i) increased conception of existing users
(ii) increased conception of the market.
Evaluate the market place:
(i) Business environment (ii) Competitive analysis- who are they? Entry barrier. (iii) Customer-market segments- SEC, demographics, psychographics, identifying TG. (iv) Product-use behavior- heavy & medium user. (v) Product & market phase (vi)Evaluating past performance- % response rate, sales, no. of requests for information, no. of qualified leads, new customers acquired, lapsed customers, customer acquisition cost (ratio of marketing cost &
customer acquired), Customer lifetime value evaluation.
Developing a Communication Strategy:
Identifying TG
Positioning of the brand
Key selling proposition (USP)