| |
|
| |||||||||||||||||||
|
| | | | | |
Proven Techniques for Selecting And Featuring Products for Co-op or Package Insert Programs By Larry H Tucker The range of products and services that can be profitably marketed in a co-op or package insert environment is very broad; but effective use of this medium requires the application of proven techniques that can make the difference between success and disappointment. Over the past fourteen years of sponsoring widely circulated consumer co-op mailings, we’ve worked closely with major direct response marketers in selecting, presenting, and promoting their products—consistently bringing them substantial new business from previously untapped sources. The product you offer doesn’t need to be new or even novel. But it does have to be representative of your general line, and it should be perceived as an outstanding value by the type of consumer who will be asked to order it. Once your offer, headline and graphics gain the attention and interest of your prospects, the perception of a bargain price (or tempting terms) can convert prospect interest into customer action. Remember that you’ve got to come up with a combination of attractive (even novel) product and low price. That’s what drives so many direct marketers to the novelty and premium shows and to frequent shopping trips to Europe and the Far East. Creating a unique price/feature combination Many successful mail marketers create a special “loss leader” for a product offer— something that they have particular success in manufacturing or importing. The product should be as universally appealing as possible (wallet, pocketbook, scarf, outdoor thermometer, knife or knife set, cookware, mugs) and should carry a price that would seem to be less than a comparable item found in a retail store. You’ll not that I mentioned the “perception” of a bargain. That’s an important point, and one I’ll reserve for the future article on pricing. Try to keep you price down to less than $10, including all charges. But the price of the product alone is rarely the most important key to a successful insert program. Because the audience you~ re wooing probably knows very little about your company, you’ll have to make it easy and agreeable for them to do business with you, creating a “risk-free” environment. Marketers of cosmetics, lotions, perfumes and costume jewelry can offer terrific “bargains” up front because of the ratio of product cost to perceived value. And if you’re marketing a related product, you may want to offer one of these as part of your “package” (see below). Or you may want to “target” a particular product to a select audience. If the co-op mailing your insert is included in (or the package or ride-along) is going to a demographically definable group of consumer households, then your work may be made a bit easier. Special personalized mugs, plates, or spoons for babies are a perennial favorite among young mothers, along with anything that will increase household safety for the toddler. Appealing to newlyweds, older consumers, travelers For new movers or newlyweds, other possibilities present themselves: stationery, embossed towels, personalized doormats are just the tip of the iceberg. For older consumers, items to make them more comfortable or safe in the home or car are long established winners—everything from devices for the bathtub to shoe inserts and foot massagers. Frequent travelers have other needs that you may want to appeal to, from luggage to auto compasses, special security money carriers and magnifying map-readers. You may want to present your product with another approach. Instead of selling shoes or jewelry or cosmetics, you can solicit for new dealers or sales representatives—all of whom get a special discount price, even on limited quantities. Or you can offer membership in a special “club” or “plan” to see a wide variety of products. Try adding the personal touch The most ordinary belt or blouse or robe can be given additional value and attractiveness with a personalized touch: the initial belt buckle, or the monogrammed initial have great appeal. Recipe books or family bibles with a family’s name on the cover or binding may work very well. A family crest can easily be obtained for the 100 most common surnames. Even wine with personalized label could be sold this way. Brainstorm how you can personalize your own products. “Package” your offer with add-ons” It’s always a good idea to present your product along with a built-in bonus, especially if you’re selling something intangible, like insurance. A detailed booklet on healthy diet habits and easy-to-do exercise may bring in many more inquiries, and helps the insurance company in its long-term mission of cutting the mortality rate. A travel atlas will boost inquiries about an auto club or a moving service. A lawn and garden checklist will bring in leads for a lawn maintenance service. Printed materials are inexpensive to produce; yet are perceived as being worth several dollars by the public. If you’re selling magazine subscriptions, it’s been proven that reprints of published articles are excellent incentives. Or you may publish a special annual issue, and offer it free to all new subscribers, no matter when they begin. With the decrease in cost for producing audiotapes and even videotapes, a number of magazine marketers are trying these as attractive incentives for the paid-up new subscriber. From sports tapes for Sports Illustrated to home repair tapes for the fix-it publications and lure-tying tapes for the fishing books, the options are limited only by the imagination. And how about a model Ferrari or Lamborghini for the sports car magazine subscriber? Or a custom gearshift knob with the buyer’s initial? A few marketers are offering two related items as their “product,” with one being a loss leader. A general rule of thumb is that the closer the “add-on” is related to your basic product, the better quality of response you’ll generate, and the longer you’ll keep the customer. When you combine relevance with “desirability,” you’ve got a winner! Making the bargain seem even better You’ll want this all to look like a terrific bargain. Adding a 10~ carrying case to a $3 order for personalized pencils, or a $3 cigar cutter or carrying case to a $30 order for a box of cigars is just good marketing strategy. Watch those TV pitchmen: “But that’s not all...” Bear in mind that many consumers add in the p&h charges in mentally evaluating their “bargain,” but they often forge that there is effectively no sales tax on items ordered by mail. Once the product is selected, you can create a unique positioning for it (“no cleaning bills for washable slacks.. .a knife that never needs sharpening.. .panty hose or wiper blades that never wear out”). Strictly speaking, that’s part of the offer and the headline that we’ll be discussing in future articles. But bearing this type of promotion in mind may help you focus on one of several possible product choices. The promise is often just as important as the product. No competition in most co-op mailings Most co-op mailings (like our own Jane Tucker’s Supermarket of Savings programs) will guarantee you a competition-free environment—an “exclusive” on your own product or service category. Make sure that you spell these terms out carefully and completely as you look at different programs. If you’re selling women’s clothing, for example, there may well be someone else in the mailing package selling men’s clothing.. .and women’s handbags, shoes, perfumes, etc. But what about scarves? Are you protected? Maybe you’ll want to offer a free scarf with each order—or use the back of your insert to showcase your own line of scarves. You’ll want to try to corral as much as possible of the consumer’s purchasing power in your own broad category. In the next article, we’ll discuss how to price your product or offering. The combination of price-offer-headline is an integral one, and all must be carefully coordinated. | |||||
 | |||||
[ Home ] | |||||
Copyright © 2000 Supermarket of Savings. All Rights Reserved | |||||
