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In addition to the annual database costs, there were one-time setup costs, shown in Table 12-6.
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Sejal projected that in the second year, the cataloger could gain from email marketing to its existing customers. The use of email marketing was possible only when the cataloger had a substantial number of customer records that included email names and permission to use them. Since the cataloger did not have many email names to start with, Sejal suggested that it become aggressive about capturing email names on all future sales, thus rapidly building up a base of customer email names. What could be done with email marketing Sejal suggested several techniques: Regular promotions of existing products, particularly before and after the catalog arrives Promotions of sale items Last-minute specials Retention messages (thank you for your business, customer surveys, etc.) Follow-up messages (thank you for your order; your order will be shipped on . . .) Table 12-6 One-Time Setup Costs
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Needs assessment Design and development Training Total $ $ $ $ 30,000 100,000 10,000 140,000
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Viral marketing ( New product specs are available. Send them to a coworker. ) Email newsletters with product information What results might the cataloger get from email marketing The experience of other catalogers suggests a lift in sales of between 5 and 20 percent using well-targeted and appreciated emails. For this cataloger, Sejal conservatively projected only 5 percent. He used that gure to estimate the increased sales and pro ts from emails (Table 12-7). By adding the email pro ts to the prospecting pro ts, Sejal was able to predict the cataloger s pro ts for the second year, as shown in Table 12-8. The second year s response rate was projected to increase
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Table 12-7 Pro t from Email Marketing, Year 2
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Conservative Old customers New customers Total Sales @ $250 5% increase Pro t @ 35% 10,000 18,600 28,600 $7,150,000 $357,500 $125,125 Bold 10,000 30,000 40,000 $10,000,000 $500,000 $175,000 Aggressive 10,000 46,400 56,400 $14,100,000 $705,000 $246,750
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Table 12-8 Second-Year Results
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Conservative New mailing Response rate Customers Average order Revenue Name rental ($100/M) Catalogs @ $1 Ful llment @ 10% Database Cost of goods (47%) Total costs New mail pro t Email pro t Total pro t Investment Return on investment 600,000 3.10% 18,600 $250 $4,650,000 $ 60,000 $ 600,000 $ 465,000 $ 350,000 $2,185,500 $3,660,500 $ 989,500 $ 125,125 $1,114,625 $1,010,000 2.10 Bold 1,000,000 3.00% 30,000 $250 $7,500,000 $ 100,000 $1,000,000 $ 750,000 $ 350,000 $3,525,000 $5,725,000 $1,775,000 $ 175,000 $1,950,000 $1,450,000 2.34 Aggressive 1,600,000 2.90% 46,400 $250 $11,600,000 $ 160,000 $1,600,000 $1,160,000 $ 350,000 $5,452,000 $8,722,000 $2,878,000 $ 246,750 $3,124,750 $2,110,000 2.48
T h e C u s t o m e r L o ya lt y S o l u t i o n
from 2 percent to 3 percent for a number of reasons. The rst year s mailing would show which SICs were pulling and which were not, so the cataloger should get much better at selecting names. In addition, many of the customers mailed to in the rst year would be getting their second year s worth of catalogs. Since the long-term projection of catalog response for this cataloger was 6 percent, these second-year customers should respond at a rate closer to that, bringing the average up to 3 percent or higher. The only surprise in the second year is the increased cost of the database. The software used in the rst year did not include a provision for email marketing. Sejal recommended a software upgrade that moved the database cost up to $350,000 per year. What this case study shows is how to go about calculating the bene ts from database marketing. Too many people think that it is a nice concept, but have no idea of how to prove it.
Summary
Catalogers never made much use of database marketing until the advent of the Web, because the nature of modern cataloging made it uneconomical to provide personalized communications. Now that the Web has arrived, catalogers should rapidly begin to use database marketing to build relationships with customers and to increase loyalty and cross sales. The methods are out there and are within the reach of all but the smallest catalogers. The increases in sales and pro ts can be substantial.
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