Companies Increase Marketing Budgets for 2008

According to BtoB's "2008 Marketing Priorities and Plans" survey, 60% of marketers plan to increase budgets for 2008 with efforts focused on personalization and more precise targeting not only in print advertising, but also with direct mail, email and event marketing.

Of the 60% of marketers who indicated an increased budget, almost 90% of those increases will be greater than five percent. Nearly thirteen percent will be 20% or more.

The list of marketing goals for 2008, according to the report, starts with customer acquisition and includes brand awareness and customer retention. Respondents also indicated that about one-third of their marketing budgets will go to online marketing.

Nearly 50% of marketers plan to increase their spending on event marketing and plan to personalize event marketing with targeted direct mail and email sent to a smaller number of people, with the goal of obtaining more qualified leads.

Forty-nine percent of marketers stated they intend to step-up their direct mail budgets with some indicating a preference for direct marketing over large advertising campaigns.

Finally, the survey also showed that almost 70% of marketers are planning a new advertising campaign for 2008.

Advantages of Personalized Direct Mail

Marketing gives a company visibility within a target market; it is how it attracts new customers and maximizes the lifetime value of existing ones. The ability to market a product or service is vital to a company's ongoing success-this is not a revelation. The struggle amongst marketing executives is never whether or not to advertise, but which marketing medium to make use of. With all the options that exist for marketing, consumers prefer personalized direct mail over other marketing options.

There are several advantages to using direct mail as your medium of choice to market your business. Direct mail is a cost effective way to target a specific market segment, while personalized direct mail adds to that medium an attention grabbing call to action.

Direct Mail and Segmenting a Market. [Read the entire article.]

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How to Choose a Solution Provider

If you search the phrase "marketing solution" on Google you'll be smacked with 167 million indexed pages (SERPs) that include everything from email, SEO, direct mail, and ministry marketing solutions. You'll be attracted to the pages because "marketing solution" will be all over the content and in page titles, but you'll never actually find an explanation of what a "marketing solution" is. That is why it's important to ask yourself if you're looking at a true solution--or a service.

PODI defines a solution as, "A repeatable combination of core products, services and unique knowledge that improves the economic performance and delivers ongoing value." In other words, solution providers are long-term partners who understand the needs of your business.

A true marketing solution must achieve at least one of three things: 1) fulfill unmet marketing needs; 2) provide a unique technology you can't find elsewhere; 3) offer services that would be unaffordable elsewhere.

When looking for a solution provider, it's important to make sure the company understands the needs of your company and helps you acquire, retain, and grow customers. Another important question to ask when researching companies is whether or not the solution can be replicated, or if individual services can be purchased when needed.

One example of a complete marketing solution is Variable Thinking’s Integrated Marketing Solution. All of the services are offered individually, but are most effective when used as a "solution" that includes: database marketing, personalized direct mail and email, personalized landing pages (PURLs), digital printing, direct mail fulfillment, real-time sales leads, and response tracking.

Another question to ask is if the "solution" is outsourced or provided under one roof. Variable Thinking is the only company that can provide the entire marketing solution under one roof, meaning you’re only communicating with one business partner.

What is Relationship Marketing

Studies show that improving relations with existing customers costs about 90% less than acquiring new customers!

Relationship marketing, as the name implies, is a strategy for growing, improving and maintaining relationships with customers. The objective of relationship marketing is to build long-term relationships with existing customers, or those most likely to purchase your goods and services, and then maximize their lifetime value. In addition to increased sales revenue, companies benefit from word-of-mouth advertising and lower administrative costs. Relationship marketing focuses on the unique characteristics, lifestyles, and needs of customers and tailors the marketing campaign based on how their product or service can meet those criteria. This personalized message is communicated over several channels and encompasses not only advertising and marketing, but sales, customer service, and any touch point between the customer and you.

Relationship marketing is not a one-time service, but a long-term marketing strategy. Variable Thinking is the only long-term business partner that can provide the entire relationship marketing solution, from database marketing to response tracking, under one roof.