With the outstanding growth of Ecommerce AND the continuous effort for marketing integration and advanced analytics (not to mention all the ad hoc requests that keep us occupied!), it’s easy to let some of the basic, core fundamentals of Catalog Marketing slip by. Here are five things to check off:
1. Identify the Percentage of Circulation Above and Below Breakeven season over season, year over year (70% to 80% above breakeven is most common)
2. Fully Loaded $/Bk Breakeven at various payback periods up to 24 months, and how it varies for reactivation vs. internal prospecting (for multi-title brands), and outside lists
3. Cum Cell Analysis to determine how much you can mail in any given drop or season based on your company goals- balancing active file growth with contribution is always key!
4. Catalog Matchbacks have become standard in our industry, with over 90% of our clients running them on a regular basis; we recommend you measure fully-loaded matchbacks (100% of transactions 60 days post mailing) and then apply your incremental factors from there
5. Contact Reporting is more critical than ever as we try to optimize costs; for every primary segment of customers, you should be able to determine their average number of catalog and email contacts per season and per year
This Basics List does not include some of our favorites like developing control panels for frequency testing and optimizing your catalog/email strategy. Not to mention, integrated email and catalog segmentation!
Stay tuned for 5 Online Marketing basics to check off…
What key reporting is on your to-do list?
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