INTEGRATED MEDIA COMPELS CUSTOMER INTERACTIONS
After being faced with an imminent paper stock price increase of up to 11%, Golden Charter and the team at Response One implemented a cost savings programme to safeguard media insert activity. We knew that without a making efficiencies and continuing to improve media rates, Golden Charter would likely see adverse effects on performance metrics.
Our team were determined to not only improve performance, but create a unique experience which reinforced Golden Charter’s brand.
Our account team researched options to improve the format with a view of delivering cost savings and significantly increase response as well as giving the existing creative concept new life.
Utilising our specialist expertise across the business and working closely with media and print partners, we began brainstorming solutions which would offer Golden Charter security against future paper price inflations, negate performance downturns caused by over mailing and show clear savings. We experimented with different formats on a variety of different paper stocks – including VAT free templates - and began negotiations with our suppliers to secure the best deals.
Along with the creative changes, we also wanted to explore the idea of an incentive that would create further value and appeal to their target audience.
Although our team already had a deep understanding of Golden Charter’s current customer base, we carried out market research to provide insight into what would resonate with potential customers creatively. From this research our prime idea was born - a compelling free gift incentive on the re-formed creative, providing the perfect call-to-action gift for their audience.
Our creative team mocked up various design options that we thought would appeal most to their audience. Once finalising format tweaks and the creative direction, we printed the new and improved design on various paper weights to bring our idea to life. Golden Charter loved our suggestions and rolled out the idea onto their new creative.
We presented a new costing structure which included fixing print CPT rates for a period of time to provide value longer term. Our concept also enabled additional cost savings on alternative formats. The new creative provided Golden Charter with significant uplift in response rates month on month, ranging from 72% to 127%, delivering increased levels of new customers whilst driving down costs.
Through our analysis and work in the financial services sector, we understand that direct mail plays a key part in acquisition strategy and we also understand that Golden Charter’s competitors are placing more and more inserts into the market which increases the pressure on performance of media inserts.
In order to combat channel fatigue and develop a wider media acquisition portfolio we will be working to develop a testing strategy to bring direct mail into their marketing strategy for 2017, widening the acquisition funnel and reducing the burden on insert performance.