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How transaction statement information can boost your marketing

How transaction statement information can boost your marketing

By Jeff Mills, Managing Director, Xenos EMEA.
We’ve all been bombarded with the constant stream of corporate marketing messages through an ever-growing set of delivery channels.

It has become increasingly difficult to locate a captive audience and find unique ways to stand out from the rest of the crowd. How can we make our messages stand-out and be noticed?

How can we further ensure that we are delivering the right messages, targeted to the right audience, at the right time? Enter the world of transpromo.
By way of explanation, transpromo stands for “transactional promotion”. These are marketing messages that show up on common bills, invoices and statements which we all receive in the post every month.

They are often overlooked as a medium for marketing messages. Up until very recently, only 10% of organisations actually use it as a channel to deliver their message. Why is transpromo overlooked? Why do organisations fail to recognise the tremendous potential that their statements can generate as marketing tools?
Transpromo combines the “transactional” components of a bill, such as your customer information, usage statistics and payment information, with the “promotional” component, such as your  marketing message or latest offer.

Did you know that on average, we open and read these types of statements for an average of one to three minutes, and often more than once? Add to that an open rate of 95% or more and all of a sudden there’s a great medium for messaging your solutions.
The Henley Centre UK study on customer preferences found some interesting statistics on buying. 80% of a company’s profit is derived from existing customers and 88% of consumers prefer to deal with companies that provide a personal touch to their product or services lifecycle.

What better delivery vehicle to upsell or cross-sell personalised content to your customer base than transpromo? They are already receiving statements from you! Statements that they will open and will read.
Messages need to be heard and valued, yet we want to avoid becoming too generic to prevent being all things to all people. This is why for transpromo to deliver true value and be successful, not only does it have to be thought of as strategic, but more importantly, it requires focus and segmentation.

Focus and segmentation enable you to target specific offers relevant to customers’ unique spending patterns, geographies and locales. Transpromo is an integral factor in the one-to-one relationship development that customers have come to expect. These relationships impact brand loyalty, referrals, overall customer satisfaction and above all, revenue.
Transpromo isn’t a new concept; it has been around for years. However advances in technology, both in the back end and in consumer demand for online and/or print presentment, have led more and more companies to consider using their statements as marketing tools. But some challenges prevail, preventing many organisations from embracing transpromo’s full potential.
One of the major challenges behind the scenes is the creation, storage and retrieval of this information. Graphically-rich statements generated by the millions can be daunting on an organisation’s storage and bandwidth infrastructure and taking the time to create customised transpromo will certainly add to the burden.
Typically, these high-volume documents, such as statements and bills, are produced by corporate composition engines in massive batches for mailing or online presentment. Most of these have very similar composition resources such as logos, terms and conditions or graphics, which are unfortunately stored over and over again for each statement and customer.
Single instance storage offers the single largest operational cost reduction opportunity and has been proven to reduce total storage needs by 90% or more. Organisations are seeing direct benefits both from a capital and operational viewpoint.

Single instance storage separates the “transactional” components from the “composition” ones, and reassembles them “on-the-fly” as required for mass-printing or online presentment.
Single instancing eliminates duplication by storing a single copy of content that multiple users or computer systems share. This technique can be implemented against file systems, email server software, data backup and other storage solutions.

Plus, it enables us to market for specific segments and significantly reduces storage costs and network bandwidth use, while improving bandwidth considerations for online presentment.
Separating out the data also opens up a world of opportunity for the future. Mobile devices are driving new and improved access to information, and it has to be different than just serving a 5MG PDF file. The advent of social networks, mobile platforms and smart devices are creating opportunities to leverage customer information in ways not thought of just a few short years ago.
We are all searching for new ways to drive results with increased efficiency. With the ever-changing landscape of marketing, transpromo is the diamond in the rough that is consistently ignored.

But times are changing. Massive open and readership rates coupled with technological investment can help drive down costs, streamline processes and provide a world-class marketing framework to drive your messaging into customers’ hands. 

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