Printers learn how good data can boost volumes in TRMC Power of Print webinar

The latest Power of Print webinar, facilitated by The Real Media Collective, featured List Factor managing director, Gordon Loch, who discussed why printers should consider diversifying into data management to boost print volumes and profit.

In the “Data, it matters – How you can upstream your business” webinar, Loch covered how data analysis and segmentation can improve the ROI print customers receive for their print investment and in doing so motivate them to order more print.

The Class Notes and recording of the session can be found on the The Real Media Collective’s website, here.

“A list is not a list, it is all about the data and it is important to get it right. If you get it wrong the print and creative components won’t matter if you are sending it to the wrong person,” Loch told the Power of Print webinar.

List Factory was established in 2006 and is a data co-operative supplier and specialises in providing good quality data to a variety of industry sectors, including the charity sector which is a significant user of print and mail.

Loch said there are three key solutions print and mail providers should consider when looking at data management: What the data industry supplies to printers, agencies, brokers and clients on a day to day basis (data deduping and standardisation); Customer acquisition data for marketing campaigns and data analysis and services that relate to that.

Power of Print

Data processing and management

Loch said this is required to understand the data and its impact on the ROI of the campaigns being produced.

“You need to ask if there are things you could do to better meet customer expectations with the existing solutions including data cleaning, address matching, deduping, suppressions, formatting, postal sort. For example can you streamline this process or recommend other solutions?”

Data Compliance Expectations

Loch said this is a big issue for the industry with the Privacy Act now being reviewed.

He said there are aspects of customer data that are being reviewed including dealing with return to sender, do not mail and opt-outs. He said removing the names of people from databases who do not wish to receive information can also help printers as it reduces waste, complaints and lost time.

Growth in home shopping data

Loch said print has a huge opportunity to get involved in this home shopping boom.

“There is more home shopping data getting collected and there is more data processing and therefore more print options for printing personalised mail for these customers. Direct mail has a greater opportunity for growth,” he said.

He said re-mail, where you cherry pick data for the best ROI, is a “quick win” strategy but Loch went on to say this only works if you know what you are printing and who you are printing for.

“This is usually done four to six weeks after the first drop with different cover pages. This generally generates additional sales and gives you the opportunity to generate something different. It can be like a ‘second shop’ or a reminder but it is very common in the charity and mail order sector.

“It will increase your mail volumes and your print volumes just by knowing the data.”

Rethink big volume campaigns

The other big take-out of the webinar was for printers to re-think the value of big volume campaigns.

“We love big volume campaigns, they mean really good revenue for us but are they sustainable?” Loch asked.

“Great data selections are not endless. Big campaigns have a big data spectrum so you have your good, bad and your less than good data in there.

“If you switch the mindset to more campaigns on a more regular basis with less ordinary data but better responding data and more of this, more often, you can maintain the same print budget or even increase them. So go with more small campaigns, more often.

“There is no point mailing people who do not respond so this data is making you no money in the end so what is the point of doing it?”

In next Wednesday’s Power of Print webinar, Sam Dobie, Creative Director, Inclusive Creative, will discuss how printers can work better with design and agency customers to boost business. Register here.

The 10-week Power of Print series is brought to you by The Real Media Collective and runs each Wednesday online at 11am AEST until August 25.

The Class Notes and recording of the session can be found on the The Real Media Collective’s website, here.

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