Money-Saving Tips for This Winter

Posted on by Chief Marketer Staff

Sometimes, straight media rentals are the best way to go about planning their media spending. However, there are some circumstances that would benefit from more specialized acquisition methods. Here are a couple of time- and money-saving ideas that you can cozy up to this winter.

Database Licensing: If you incorporate modeling, database inclusion, credit scrubbing, or data appending into your marketing plans, or if you lose a high percentage of records in your merge and require low nets, or like to reuse records, then data licensing may make financial sense for you. The way this works varies from list owner to list owner.

One common practice is to pay one flat and/or monthly fee to the list owner or manager. You and the list owner sign a contract ahead of time so you both agree on how the data can be used. You and the list purveyor can come up with a fee that makes the data acquisition fit into your business model and benefit your marketing efforts without the hassle of keeping track of merge results, guessing on modeling outputs, reporting on append matches, and negotiating endless nets on every order.

This also saves time for the list owner, while assuring a certain amount of business from the client for the period of the contract so they know what revenue they can count on. I recommend performing data tests on a sample segment of the database ahead of time to ensure a good fit and a beneficial financial structure for both parties. In the right circumstances, data licensing can save lots of money and time so that you can reserve these resources for additional projects and marketing efforts.

Data Appending: Another great tool is data appending. This can help you learn about your current customer base and aid in better targeting new prospects for your acquisition efforts. It also helps you communicate in a more timely, relevant and meaningful way with your current customer base.

For example, companies that append e-mails to their house files can contact targets with timely and relevant offers, while saving money on postage. E-mail appending services can offer as much as a 30% match rate on the individual level, and usually includes a welcome letter to give the person the option to opt-out of receiving e-mails from your company, thus helping to keep your e-mailing efforts compliant with CAN-SPAM regulations.

Additionally, you only pay for matched records. Appending offers the ability to send personalized e-mails to your customers, and it has proven to increase repeat business. There are many other popular data appends, depending on your business model.

For instance, append date of birth to your current customer base, and you can send a special offer with birthday wishes during the customer

More

Related Posts

Chief Marketer Videos

by Chief Marketer Staff

In our latest Marketers on Fire LinkedIn Live, Anywhere Real Estate CMO Esther-Mireya Tejeda discusses consumer targeting strategies, the evolution of the CMO role and advice for aspiring C-suite marketers.

	
        

Call for entries now open

Pro
Awards 2023

Click here to view the 2023 Winners
	
        

2023 LIST ANNOUNCED

CM 200

 

Click here to view the 2023 winners!