Chief Executive Boards International provides CEOs and business owners with peer advisory boards
 
           
 
               
 
 
 
 
 

"CEBI has been a strong resource in helping me improve my company. The education and advice I have received is worth considerably more than my investment in dues."

Doug Shull
President/CEO
Transmet Corporation

 

Chief Executive Briefing # 18

 Where CEB Members Spend Their Time

 

Following is a compilation of ideas expressed by CEB members on this issue.

 

Your offer may be great.  Your copy may sparkle.  But if you don’t reach your target audience, you won’t reach your marketing objective.  Consider the relative importance of these direct mail components to a campaign’s success: List, 60%; Offer, 20%; Copy, 15%; Format, 5%.  These statistics make it obvious that you need to customize your list to ensure success.  Here’s how.

  1. Select the appropriate Standard Industrial Classification Code
    The government’s four-digit SIC codes allow you to target specific lines of business.  Using the six- or eight-digit industry designations, you can target and fine-tune your prospect base even more.

  2. Define your geographic coverage
    Identify the geographic areas that will help you achieve your objectives: the entire United States, selected states, Metropolitan Statistical Areas, cities, counties, area codes or ZIP codes.

  3. Define and qualify your list by company size
    Assess buying potential by selecting the size of the companies most likely to respond to your offer.  Consider the number of employees at a location, the total number of employees or annual sales volume.

  4. Determine the sales potential at each location
    Assess the buying potential of companies with multiple locations.  Do you want to focus on headquarter locations?  Keep in mind that single-location companies or manufacturing sites may have a separate need for your product or services.

  5. Target your mailings to the decision makers
    Identify the executive by name and title in companies of all sizes – from owners of small businesses to marketing managers to chief executives.

  6. Pinpoint the executives who are most likely to respond
    Executives who have responded to direct mail in the past are naturally more likely to continue to respond to direct mail.  By targeting past responders, your response rate – and your sales – should increase.

  7. Utilize telemarketing in conjunction with your direct mail campaign
    You can call a representative sampling of your prospect list to test its effectiveness.  Personal contact with key decision makers gives you immediate control over your sales message.  Don’t overlook telemarketing as a stand-alone selling channel.  It can be very effective.

Chief Executive Boards International provides CEOs and business owners with peer advisory boards  

  Copyright © 2007 Chief Executive Boards International. All Rights Reserved.