Even today, many marketing managers have not realized yet that they can generate a large number of business opportunities by simply looking at their database content. And that’s what’s TransPromo is about. TransPromo consists of inserting personalized advertising into transactional documents, such as bills or bank statements.
Time is limited, because it is estimated that the average consumer dedicates no more than about 45 seconds to an invoice received by postal mail. Hence, time is gold – now more than ever. Fortunately, that very limited time span can be expanded when the consumer notices a message that interests him or her. This is where TransPromo comes in, by merging advertising material and transactional documents to address customers and taking advantage of any interaction with those customers without increasing the marketing budget. In other words, TransPromo is the new customer touchpoint.
Although already in 2008 DocPath demonstrated that it’s document software was on the cutting edge of business document software, announcing it’s support for TransPromo business documents.
We are actually all TransPromo advertising recipients, but not all of us know it when we have a TransPromo document in our hands. Therefore, let’s have a look at some TransPromo message examples.
A financial institution may use TransPromo in its monthly statements to incorporate promotions that are perfectly tailored to the profile of its clients.
Likewise, a manufacturing company may use TransPromo methods when printing their invoices, to sell other products and advertising space, or to integrate personalized messages that enhance customer loyalty.
After all, it is always easier to sell another product to a loyal customer than to capture a new customer (i.e. the concept known as ‘cross selling’). Another common example are price tags used by retail stores, to which TransPromo is applied in such a way that the price tag of one item can be simultaneously used as a discount coupon for another item.
The Benefits of TransPromo
TransPromo builds customer loyalty and customer bonding, since TransPromo documents constitute a fixed and monthly ‘meeting point’ that enhances customer relationships. Therefore, large companies often use versatile Output Management software solutions to support and implement their TransPromo strategies.
For example, with the right software, companies are able to segment and per-sort their customers’ spending and consumption patterns using data mining tools. In addition, many Output Management software solutions allow organizations to add fully customized variable data to their documents and generate full-color documents that maximize the advantages of personalized marketing. In fact, studies show that color plays a key role in attracting the attention of consumers that have little time and a lot on their mind. Specifically, according to GMC Software Technology, full-color TransPromo campaigns raise advertising response rates by up to 500%.
On the other hand, customized marketing inserts placed on the white spaces of transactional documents allow companies to save both paper and delivery costs. For instance, studies reveal that TransPromo solutions reduce paper consumption by an average of 60% and, according to InfoTrends, TransPromo documents increase revenue by 23.4% and response rates by 20.5 %.
eTransPromo and Digital Advertising
In any case, TransPromo is not a new concept. The novelty lies in the newly emerging channels where it is used. The digital age is modifying the paradigms in all sectors and areas, and TransPromo advertising is no exception. The rules of the game are changing, and fast.
In the old days, we would read our paper bill after we collected it from the mailbox. Now, we feel the need to take advantage of any gap, as small as it may be –while walking, in public transport, the queue at the supermarket– to consult our bank statements, online bills, social media feeds, etc. on our smartphone. In fact, as a consequence of being able to consult documents at any time and place, in combination with a globally increased environmental awareness, there are fewer and fewer consumers who wish to receive their transactional correspondence in paper-format.
It is no coincidence that global spending on mobile marketing has grown significantly in recent years, driven mainly by the enormous popularity of smartphones. Our planet is already “smartphone territory”: 51% of the world’s population already has one.
Within that context, eTransPromo emerged. eTransPromo consists of expanding and applying TransPromo advertising strategies to digital channels. This allows companies to increase the number of channels through which those types of advertising messages can be generated and distributed, hereby considerably reducing the costs of color printing and paper consumption, which, in turn, also makes their business activities more sustainable and environmentally friendly.
Customer bonding and loyalty are closely related to multi-channel marketing. In fact, we are moving from the concept of ‘multi-channel’ to ‘omni-canality’. In other words, to keep up with the current pace of business, companies must apply different strategies to be able to reach customers through all physical and digital channels available. They can not limit themselves to paper only in their communications with customers. Instead, a comprehensive set of communication tools (SMS, mailing, Web pages, software applications, TV, press, etc.) is used to achieve seamless interaction with the target audience. Studies show that when those multi-channel/omni-channel marketing tools are combined with TransPromo documents, the effectiveness of targeted interactions with customers is drastically enhanced.
Hence, it is clear that organizations need to identify and exploit all available and even still untapped marketing channels in their campaigns if they want to reach a wider target audience and turn their advertising campaigns into intelligent and highly effective marketing tools. It will still be quite some time, however, before society is prepared to abandon paper in its business communications, and TransPromo document software is definitely a tool that no marketing department wants to miss in its marketing mix.
Sources:
- http://www.enterpriseinnovation.net/article/build-your-brand-and-customer-relationship-transpromo-new-look-crm
- https://www.xatakamovil.com/movil-y-sociedad/espana-territorio-smartphone
André Klein
Freelance Consultant for DocPath