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How to Create a Winning Offer For Co-op Mailings or Package Inserts By Larry H Tucker When you develop and test an offer for your solo mail campaigns, you can be assured that, once you get the recipient to open the envelope, you have her attention all to yourself. This is not the case in a co-op mailing, or with the packets of inserts that make up most package insert programs. So your offer will have to be more obvious, more insistent, more prominent. In the one second or so that your insert initially will attract the prospective responder, you’ve got to stop the consumer right in her tracks. Naturally, your offer will be declared emphatically in a strong headline, and accompanied by attention-getting graphics—both subjects of future articles. Let’s talk now about the proposition that you’ll be offering. Because most of the people you’ll be addressing have never done business with you before (and some may not have even heard of you), you want to give as much as possible and require as little as possible. Offers of free magazine issues, inexpensive or free catalogs, free literature, bargain or special introductory offers, and premiums can work well in a co-op. These offers may generate impressive front-end response; but you’ll definitely want to watch your back end carefully to track the ultimate effectiveness and pay out of each type of offer. The inexpensive nature of mass prospecting via co-ops can bring you back a response economically than any other medium, and co-ops allow you a good deal of leeway in casting a wide net to millions of prospects. For magazine publishers, the offering of a premium continues to be a primary tool in bringing in new subscribers. But circulation managers wam that these subscribers will often hold out to renew until they are offered another premium, and that they generally renew less strongly than subscribers won without a premium do. Because of the rise in subscription prices, and the reluctance of many consumers to commit to long-term arrangements, some circulation directors are now trying much shorter subscription terms—i 3 weeks, for example—or offering the new subscriber a variety of terms. The object is to keep the perceived price low, and to get the ball rolling. Other publishers are offering an extra month’s subscription, special issues, or reprints of past articles to add value and entice the new reader. Several allow installment payments. And almost none insist on cash with order. A “free” offer that lets you break even on product” Several product marketers offer an attractive item free (or for only a few pennies), but require up-front payment of postage and handling. This has worked well for panty hose, paperback books and audio tapes—particularly when the actual manufacturing and shipping cost is less than the p&h charge. Others feel that a strategy of offering several options to the consumer pays off best over the long term: they offer the first six items selected from a group for only 1 ~, and give the option of a bargain on the seventh item at half-price: ($3.98, for example, instead of $7.96). About one-third will choose the extra item, which is profitable because there is no additional marketing cost. Some companies bill for the penny; others have found that asking for even the most nominal amount up-front cuts down frivolous orders or fraud. Only testing will tell whether this will substantially cut down on initial response. If something normally is sold in sets, you may be able to market it piece by piece, as Franklin Mint does with its classic chess sets. This is standard practice in the collectibles field. Or you may find it possible to offer several sizes or quality levels of an item: the 10-day supply.. .the 30-day supply.. .or the deluxe version. Offering a “Special Collector’s Edition” for books, or an “Executive Edition” for desk diaries—or signed and numbered figurines or plates at a 30% increase over the regular featured item can make the original item look like a bargain. But don’t be surprised when a considerable proportion of the orders come in for the more expensive version! Offer more of the same at no increase Rather than cutting price, many direct marketers choose to offer extra merchandise instead. Two-pant suits are a great example, but the theme carries over into free accessories or attachments for a lady’s bag.. .free belt with ....... free display case for figurines or a photo album or free film with film developing.. .free carrying case with records, tapes, or CDs. The higher the perceived value your premium has, the better the response will be. You might want to consider personalized premiums (featuring single initials, for example), that are perennially popular items themselves. Variation on this is the second identical or similar item at a steep discount: second pair of shoes at half price.. .three dresses for the price of two. The possibilities are endless. When you’re selling items that will be sent out by you as gifts, it’s easy to offer a sixth item free when five are ordered, or a fourth when three are offered. This should push the units per order up, and is great for people who order gifts by mail—grandparents in particular and older consumers in general. Make ordering and payment simple Make it easy for the consumer to respond. One or two dollars will readily be invested by the average consumer to get a desirable catalog (especially if you send them back a certificate for that of a greater amount, to be credited on their first order). Many people don’t like to write a check for $1.87 or some other small amount, but will readily be invested by the average consumer to get a desirable catalog (especially if you send them back a certificate for that of a greater amount to be credited on their first order). Many people don’t like to write a check for $1.87 or some other small amount, but will readily enclose two-dollar bills with an order. Allow your customers to use all major credit cards. Although some mail marketers send an initial product order without payment or credit card billing, this is not widespread. But several have successfully tried issuing their own “instant” credit to new customers who already have an established credit card (Amex, VISA, Master or Discover Card). The overburdened consumer can defer charges in this way, and many people will welcome this extension of their purchasing power. It should also increase the amount of the average order. Free trial, strong guarantees, endorsements You may certainly want to consider offering a money back, no-risk trial. Most people understand that if they order by credit card, they can readily get their money back if the goods delivered do not live up to their expectations. But spell this out for them with a strong, no-strings “satisfaction guaranteed” return policy. A clear, well-written money-back guarantee will put consumers at ease and definitely increase response. One successful marketer even proclaims that he’ll “hold your check for 30 days” on a book order. The endorsement of respected or widely known personalities and authorities (Like Ed McMahon) can really help boost response. Even pictures and excerpts from letters received from satisfied customers can bring about an additional draw for your offer. Find an author, an entertainer, a known expert, or an institution that thinks you and/or your product are great (or at least worthwhile). Naturally, you test several offers and variations to see which works best for you in a particular medium. What seems topical and compelling today may wither with changing conditions, however, and the wise marketer is always coming up with new offers as well as new products. In the next article, we’ll talk about creating a compelling headline, copy and graphics in the limited space of the insert format. | |||||
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