Printer Friendly

Time-tested renewal enhancement strategies that really work.

David Wilson told participants in a NEPA meeting, "Grab a calculator. How much money will you spend on new subscription marketing this year? What is your projected cash return? Calculate your cost per paid order received and dollar return on each marketing dollar spent. Make the same calculations for renewals.

"Now do you have the time to consider a little renewal marketing? Maintaining a high volume of new subscription orders is an important factor in offsetting losses from expires, but clearly, renewal marketing provides the maximum profit obtainable from all forms of direct marketing activity, and it deserves a prominent and permanent place in your marketing plan."

Create your unique renewal marketing strategy, with these elements:

* Set goals--just like a "real" marketing campaign.

* View and market conversions and renewals at risk separately.

* Include expires from the past 2 years in your plan.

* If you track renewals by list source, identify your "best lists."

* Create and define your total renewal marketing "universe."

* Focus your marketing plan around each of these groups: future conversion pools at risk; future expire pools at risk; and expires.

Estimate the size of each risk pool for the next 12 months:

* How many conversion expires do you anticipate for each month in the next 12?

* How many expires from non-conversions will occur each month?

* What are the total number of expires you've lost in the past 24 months?

* Calculate the total orders (and money) you will, and have already, lost to expires. How much are you willing to spend to recapture just 20 percent? There's your budget.
COPYRIGHT 2000 The Newsletter on Newsletters LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:The Newsletter on Newsletters
Date:Sep 15, 2000
Previous Article:Inside Direct Mail goes full-color, printed on glossy stock--for a magazine look.
Next Article:Survey reveals leaders' thoughts on permission-based marketing.

Related Articles
Bt broccoli test: Refuges cut pest resistance.
Strategic planning for lease renewals.
Expanding Your Definition Of The Perfect Donor.
Change Is Good.
Backers of levy fear low turnout.
Acquiring new donors and members with every mailing program. (Executive Session).
Twelve proven newsletter renewal techniques. (Renewals).
Twelve proven newsletter renewal techniques, part 2. (Renewals).
Check, check, check: testing a program gives you benchmarks.
Choosing the most effective premiums.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters