A Marriage Made in Heaven
Boy meets girl. Boy falls in love with girl. The two marry and live happily ever after.
Now, apply this concept to TransPromo. Simply put, think of this technology as a marriage between transactional documents, such as financial statements from credit card companies, banks or utility providers, and an explanation of benefits or invoices from your healthcare insurer and promotional messages. The "Promo" part can be promotional offers including those typically found in direct mail, coupon mailings, cross or up-sell offers, inserts rewards or loyalty programs, explained Scott Baker, vice president of business development at Boston-based GMC Software Technology.
"What it's really describing is a document with more than one purpose, a multifunction document that is specifically designed to use regular communications that the recipient is expecting, such as bills and statements and other transactional correspondence (the 'Trans' in TransPromo). Also, TransPromo is not limited to print. TransPromo communications can be delivered via e-mail or by a personalized Web page or PURL," he elaborated.
And, while TransPromo is essentially a union of transactional data and marketing messages to bring about a sales-based response, it serves other purposes. For instance, it can be educational, provide money-saving tips or offer advice. Companies can potentially profit from each customer communication, and an exchange is created that maintains a healthy, prosperous relationship.
When creating a TransPromo document, first, companies need to identify the space for their message. This can be done by finding existing white space within the statement design and/or the leftover space at the end of the transaction, Baker explained. TransPromo doesn't always have to be delivered in color, but color is preferred because it makes a message pop, garnering higher response rates.
When it comes to TransPromo, successful marketers often look to their past. Art Waganheim, vice president of operations for Davie, Florida-based Paitec USA noted many TransPromo marketers find it advantageous to sell transactional recipients with personalized ads based on what they've previously purchased. "For example, if a plumbing wholesaler can pinpoint a customer whose invoice includes sprinkler parts but who has never purchased sprinkler pumps, that wholesaler can add a special sale coupon for pumps on that invoice," he said.