Product category:
Direct Mail Printing and Services
News Release from: Pitney Bowes | Subject: Direct mail production technology
Edited by the Printingtalk Editorial
Team on 02 February 2006
Report Shows Direct Mail Technology
Drives Market
A new report from mail and messaging specialist Pitney Bowes reveals that businesses are now devoting more marketing budget to existing customers than to prospecting activity.
A new report from mail and messaging specialist Pitney Bowes reveals that businesses are now devoting more marketing budget to existing customers than to prospecting activity The Pitney Bowes report identifies UK budgetary allocation amongst a range of UK industries to establish the customer and prospect marketing divide
This article was originally published on Printingtalk on 11 May 2005 at 8.00am (UK)
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David Jefferies, marketing director at Pitney Bowes, explained that direct mail production technology is playing an important role in the redefined marketing strategies.
He said: "Whilst the volume of direct mail may also be falling, largely due to marketing strategy revisions in the financial sector, it is clear from this survey that businesses are not turning their backs on direct marketing activity per se.
Rather, businesses are realising that marketing to existing customers can have a profound impact on customer retention and customer growth.
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The luxury of devoting specific inserting technology to particular applications is one that is not open to every business, according to Pitney Bowes.
High volume prospecting activity has given way to intelligent, targeted communications to existing customers - the first line of attack in the battle to stem customer churn rates." And he added: "Undoubtedly, technology is playing a significant role here, enabling communication production to become more creative, more flexible and more targeted without costs escalating.
Technology - both software and hardware - is helping businesses of every size to make every document deliver, where even standardised communications, such as invoices or statements, are being transformed in to informative, cross-selling vehicles." He also acknowledged that marketers will continue to deliver a combination of customer and prospect campaigns across a combination of channels because no business will survive without reaching out to new audiences.
David Jefferies continued: "However, it is those companies excelling with their direct marketing communications to existing customers that stand to gain.
Such a focus will do more than stem attrition.
In a climate of mass competition, the rewards will be greater share of customer.
And, at a time when consumers hold many of the cards, loyalty is more valuable than ever." The report states that more money is now being spent on communicating with existing customers than is spent on attempting to attract new customers.
It compares and contrasts 2005 findings with those from 2003 when the survey was first conducted.
According to the report, marketing to existing customers currently accounts for 53 per cent of the budget of UK marketers - a rise from 43.5 per cent in 2003.
The 2005 survey targeted marketers from a sample of the UK's top 1,000 companies to establish today's picture.
David Jefferies concluded: "Despite analysts pointing to a general downturn in overall marketing spend, direct marketing budgets - a key method of reaching existing customers - continue to be revised upwards, indicating a move away from media ad-spend and sales promotion activity.".
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