34. Be willing to test other things besides promos. Paper, covers, mail dates and much more can be tested. Just try to keep it to one test at a time.
35. Obtain print and paper bids at least once a year to check the market. Don't contract with any printer for more than one year at a time.
36. Consider purchasing paper directly from a supplier. However, if you purchase less than 80,000 pounds (about two truckloads) of paper at a time, it's probably best to continue buying paper through your printer.
37. Develop a strategy to convert one-time buyers into repeat customers.
38. Monitor the change in the number of 12-month buyers on your housefile from one year to the next. Your business will grow by approximately the same percentage your 12-month buyer file is growing.
39. Consider adding more pages to your catalog (i.e., more merchandise), while maintaining the same product density. This is a good strategy especially if your catalog mails at the postal piece rate (under 3.3 ounces). Your revenue should increase by approximately one-half the percent increase in page count.
40. Typically, a U.S. catalog company should be able to generate 10 percent of its sales in Canada. Therefore, consider developing a circulation plan to test mailing north of the border.
41. Always take advantage of co-mail savings and make sure you print with a "catalog" printer that offers co-mail services.
42. Segment your online-only buyers by RFM, separate from your print catalog buyers.
43. Be sure to maximize ALL of the cooperative databases. They all build their models slightly differently, and one co-op will find good prospect names not found by another.
44. If you're a consumer catalog business, consider renting your housefile.
- Companies:
- Lett Direct Inc.