A short while ago, we wrote a post describing the ways that you can get the most out of transactional mail; that is, documents such as statements, bills and notices.
One of the four suggestions was to “include personalized messages to cross-sell, upsell or educate.” Lucky for us, there is a much shorter term to describe this process: Transpromo.
Transpromo is a hybrid term from – you guessed it – “transactional” and “promotional”. It refers to the practice of using transactional mail, which businesses already send to customers on a regular basis, to share marketing messages.
Why consider Transpromo?
Transpromo is a good idea for companies that are looking to gain more business from their existing customer base and/or build customer loyalty.
For one, Transpromo provides an opportunity to generate revenue from a necessary cost. If you don’t have additional services or products to cross-sell, consider providing information that will educate or help you better serve your customers. You are already spending the money on printing and postage – why not use each document to its full potential?
Second, if you’ve read the post referenced above, you know that 95% of recipients open and read their transactional documents. NINETY-FIVE PERCENT. That’s huge, especially compared to average postcard read rates of 56% (the highest for direct mail) and email open rates, which are around 20%. Knowing this, it’s hard to deny that transactional documents are a great canvas for your marketing messages.
Finally, Transpromo is data-driven, which means that you can send targeted, relevant messages to your customers. Using the data that you already have about customers, or appending your data with a supplementary list, you can determine which products or services are most applicable for each person, then tailor the copy and appearance of the advertisement to fit that persona.
How to use Transpromo
Transpromo is made possible by variable data printing, the same technology that allows us to print the correct numbers on each statement or bill. With VDP, we can create a template to fill with variable images and text, based on the recipient.
Take a look at your existing transactional documents. Is there space for a Transpromo message? Would it be valuable for you to create space?
There are countless ways that you can use Transpromo to generate sales or increase customer loyalty. Here are a few of them:
- On monthly checking account statements, include an advertisement for your low-interest or reward-generating credit cards OR for your savings account options
- Using appended data, include an advertisement for refinancing options to customers who have an account with you, but hold a mortgage through a different institution
- On a monthly statement, include an ad for low-interest car loans to customers who have children aged 15 or 16
- Share tips for financial responsibility at every stage of life on quarterly statements
- Provide details on quarterly wealth portfolios about upcoming seminars or events
- Include advertisements for relevant health education events on patient bills – for example, a pediatrician may advertise a sports health seminar on an invoice for a sports-related physical
- Include reminders for standard tests or procedures on patient bills – for example, a reminder to schedule a mammogram for women age 40 and up
- Promote your online patient portal or appointment scheduling system for patients who require additional tests or test results
- Use patient hospital bills to advertise pharmacy or lab locations nearest the patient’s home
- Offer water- or energy-saving tips on residents’ monthly water bills
- Use notices to remind residents of an upcoming election (and encourage them to vote)
- Advertise community events or sponsored programs on resident bills
- Promote similar products or services on invoices
- Promote a landing page where new customers can sign up for your company blog or newsletter on invoices
- Provide loyal clients with a discount in return for referrals to your business on their invoices
- Include other recommended products on packing slips for online or phone orders – even better, provide a coupon for a certain percent off or free shipping on the next order
- Use extra space on packing slips to promote seasonal products corresponding to the geographic location of the customer (e.g. snow boots for customers in Michigan during the winter months)
- Create an eye-catching ad to ask for product reviews
Whatever your industry, think about your business’s objectives, what data you have on your customers and what data you can access to append your database. Then provide a message that is relevant, interesting and appealing. The sales will speak for themselves.