Using Market Timing to Increase ROI
Traditionally, in direct marketing response rate has been characterized as 40% list – 40% offer – and 20% creative. I have always advocated that there is a 4th leg in the direct marketing response chair: market timing – what I like to call Syncographics.
Syncographics significantly affects response. You need to factor in market timing if you want to get a lift in your response.
Market Timing Triggers Buying
There are specific life stages that trigger buying – moving, buying a home, having a baby, getting married, getting divorced, graduating college, Turning 65, getting a new job.
Other distinct market timing occasions are also purchase influencers: the end of an auto lease, homeowner insurance expiration, annual back-to-school, introduction of new technology
Then, there are Holidays. Christmas, Hanukkah, Mother’s Day, Father’s Day and Halloween. Then, there are what I call the Hallmark list of holidays: Bosses Day, Teacher’s Day, Secretary’s Day and my most recent favorite – Grandparents Day. All of these occasions are opportunities that trigger purchasing.
The New Homeowner List is one of the most high profile trigger lists in the marketplace. New Homeowners need a myriad of goods and services when they move into a new home, ranging from insurance to window treatments, water filters to custom closets, landscape & pest control services to furniture and electronics.
Marketers whose products lend themselves to New Homeowners can easily target this top response group by using a new homeowner list and mailing the right offer. The offer is important. Sure, we can reach the New Homeowner. But, the key is getting that New Homeowner into your store or persuading them to test your service. New Homeowners are worth a strong offer. Give the new homeowners an offer they can’t refuse. This way, you can convert a new customer for life.
Factoring Syncographics into the marketing mix gives marketers a lift in response. Overlooking market timing will ruin a perfectly good campaign.
