Worse… only one-in-ten pieces of direct mail ever get opened, compared with 95% of transactional communications.
The numbers are slightly better for emails, but it is still bad news for businesses who recognise that a key component in providing an excellent customer experience (and, in turn, supporting business growth) is to deliver relevant, targeted and personalised communications — not just promotional material, but informational, educational and legal messages too.
Many companies address the challenge by utilising the white space on printed and digital transactional communications for promotional messages and personalised customer information — everything from banks providing information on PPI rulings and utility companies providing appointment reminders, to retailers with details of a last-minute sale).
However, in many cases, legacy systems are simply not up to the task of making the optimum use of white space — making changes to customer communications for marketing purposes often falls to IT departments, which can be costly and slow (affecting companies’ ability to respond quickly to unexpected events or opportunities).
As a result, an increasing number of companies are turning to more agile, intuitive, cloud-based technology that hands control to separate business areas and enables them to create, prioritise, target, approve and deploy personalised messages themselves — consistently, across channels. Today’s more advanced models also provide management information and detailed analytics to help fine-tune future campaigns and help customers enjoy an enhanced experience.
The technology can improve read-rates and raise call-to-action conversion. In fact, personalisation can deliver five to eight times the ROI on marketing spend, and can increase sales by 10% or more. It’s also more cost-effective — vital at a time when many organisations are being challenged to cut production and postage costs, remove the expense of stock management and eliminate waste.
White space management is undoubtedly playing a more important role in meeting customers’ preferences by delivering higher levels of personalisation − an approach that can lead to higher levels of satisfaction and brand advocacy, and ultimately increases life-time value.
Ultimately, adopting flexible and dynamic composition solutions will ensure that the white space becomes the right space for supplier and consumer.
If you are thinking about migrating to a different platform there are many questions to consider, such as:
- How effective is the proposed workflow in facilitating the creation and approval of messages?
- How should you best plan to meet unexpected levels of demand?
- What features should you look for to ensure the platform is flexible enough to meet your opti-channel requirements?
We’ll address these important questions in future posts.