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TransPromo
Ch i B dChris BondyGroup Director
© 2010 InfoTrends, Inc. www.infotrends.com
InfoTrends Focus
Founded 1991; 70 employees; Offices in Boston, London, and Tokyo
Clients We Serve:Hardware and Software Vendors, Service Providers, Trade Associations, and Targeted Enterprises
Services:Strategy & Planning, Market/Business Development, Advisory Services, Publications, Custom Consulting, Multi-Client Studies, Sponsored Content, Events, Business Development, and Training & e-Learning
Outsourcing & Managed Services
Cross MediaData Analytics
Marking EnginesFeeding/Finishing
DFEsWorkflow
ConsumablesSubstrates
2© 2010 InfoTrends, Inc. www.infotrends.com
Agenda
State of the Business• State of the Business
• Critical Trends
• TransPromo, What is it and Why should I Care?
• Trans-Promo Research Results
3© 2010 InfoTrends, Inc. www.infotrends.com
4© 2010 InfoTrends, Inc. www.infotrends.com
The Economy and Changes in The Print Industry• The global economic situation has punctuated
the importance of the effective use of scare resources
• The Economy situation has accelerated the adoption of solutions that effectively manage cost and bring demonstrable valuecost and bring demonstrable value
• Marketing dollars are more scarce and Marketers have a need to quantify the results f ll iof all campaigns
• Consumers are bombarded by a wider array of messages coming from new alternative channels such as mobile and social media
• There is a shift from static marketing pieces with less impact to personalized messages
5© 2010 InfoTrends, Inc. www.infotrends.com
with less impact to personalized messagesdelivered across a variety of media
Critical Trends
6© 2010 InfoTrends, Inc. www.infotrends.com
Consumers are “Always ON”!
7© 2010 InfoTrends, Inc. www.infotrends.com
Social Media is Integral to All Marketing Activities
100 million videos viewed per day on
YouTube
50 million tweets per day on Twitter
YouTube
(and 65,000 new videos are uploaded)
400 million blogs in existence
5 billion minutes spent per day on
existenceFaceBook
8© 2010 InfoTrends, Inc. www.infotrends.com
3.6 billion images on Flickr
Adding Mobile to the Mix with QR CodesWhat can the recipient do?• Pay a bill• Accept an offer (from a statement or a
direct mail piece)direct mail piece)• Link to a landing page• Provide survey information predicated on
the offer• Provide consumer discounts
Why now? • People have their cell phones with them at
all times• Europe has more than one cell phone for
each person and in the U.S. 89% of the population owns a cell phone most arepopulation owns a cell phone – most are equipped with a camera
9© 2010 InfoTrends, Inc. www.infotrends.com
More Channels = Higher Responseg p
Average response rate
Improvement overprint-only campaigns
8 7%
8.8%
Print, e-mail, Web landing pages, and
Print, e-mail, and Web landing pages
34%
35%
8.3%
8.7%
Print and e-mail
g p gmobile marketing
34%
28%
7.7%Print and Web landing pages 19%
6.5%
0% 2% 4% 6% 8% 10%
Print only
10© 2010 InfoTrends, Inc. www.infotrends.com
Source: Multi-Channel Communications Measurement & Benchmarking. InfoTrends, 2008
N = 217 marketers
“Data/Content is King” – Enabling Marketing Efficiency
• Marketers are forced to stretch every marketing dollar and deliver moremarketing dollar and deliver more measured results
• Multi-channel campaigns increase response rates
• Closing the loop/data management
Knowledge
data management
• Campaign dashboard/visualization
Information
Data
• Business intelligencevia data analytics
11© 2010 InfoTrends, Inc. www.infotrends.com
TransPromo
12© 2010 InfoTrends, Inc. www.infotrends.com
Traditional Statements are Read but NOT Effective
13© 2010 InfoTrends, Inc. www.infotrends.com
Transactional Documents: Market Dynamics y
• Mature market, flat volume for transaction mail sent
• e-Presentment and e-payment are increasing
Risk-averse; applications are slow to change
• Significant volume is produced internally (corporate data centers), but outsourcing is also pervasive
• TransPromo is an emerging application with growth• TransPromo is an emerging application with growth
• Focus has been on the high-end corporate market and data service bureaus versus the mid-market – huge SMB
t it f T Popportunity for TransPromo
14© 2010 InfoTrends, Inc. www.infotrends.com
Advertising Inserts – are often not read!
??
15© 2010 InfoTrends, Inc. www.infotrends.com
Bills and Statements Get Opened!
98.70%96.3%Bills
79.70%
98.40%
77.9%
95.3%
Coupon packs
Statements
68 20%
72.20%
53.4%
73.1%
Promotional inserts includedwith bills & statements
Catalogues
54.20%
68.20%
26.9%
48.4%
Credit card offers
Addressed mail fromunfamiliar businesses
with bills & statements
26.30%
28.60%
29.6%
0 00% 100 00%
Unaddressed mail fromunfamiliar businesses
Credit card offers
North America (N = 1,067)Western Europe (N = 2,460)
16© 2010 InfoTrends, Inc. www.infotrends.com
0.00% 100.00%
Source: Trans Meets Promo…Is It More Than Market Hype?, InfoTrends, August 2008Source: Trans Meets Promo: A European Perspective, InfoTrends, October 2009
ReachingConsumers
Transaction documents represent billions of customer touch-points – marketers are catching on!p g
The next wave will be targeted Loyalty Programs (acquisition and retention) designed around the natural touch-point of
17© 2010 InfoTrends, Inc. www.infotrends.com
consumer transaction behavior.
Transactional + Promotional = “TransPromo” is Hot
TransPromoGraphicCommunications
Data Center/IT
Design centricLower-speed output
Combining complex design with complex
Data centricHigh-speed output Lower speed output
Direct MailBrochuresPostcardsNewsletters
design with complex dataHigh-Speed Output
g p pStatementsInvoices401K ProspectusBrokerage Account Information
18© 2010 InfoTrends, Inc. www.infotrends.com
Information Checks
TransPromo – What is it?TransPromo What is it?
TransPromo is the inclusion of messaging ON transaction documents. While the term suggests “promotional,” the application is much broader.While the term suggests promotional, the application is much broader.
It is more than promotional messaging:
• Trans-Promotional
• Trans-Educational
• Trans-Informational
• Trans-Notification
19© 2010 InfoTrends, Inc. www.infotrends.com
It’s the “ONSERT” that Works!
20© 2010 InfoTrends, Inc. www.infotrends.com
Images care of EMC Document Sciences
TransPromo: A Trusted Source
Y Ch h• Your Church
• Your Dentist
• Your Financial Advisor
• Your Bank/Credit Union
• Your Air Conditioning Supplier
• Your Lawn Care Specialistp
21© 2010 InfoTrends, Inc. www.infotrends.com
Statement Redesign for Audi Financial Services
22© 2010 InfoTrends, Inc. www.infotrends.com
Humana: Helping Consumers Stay Healthy
23© 2010 InfoTrends, Inc. www.infotrends.com
InfoTrendsT P R hTransPromo Research
24© 2010 InfoTrends, Inc. www.infotrends.com
Consumer Respondents
• 3,527 consumer respondents Consumers(N = 3,527 Respondents)
8 countries
300+ respondents from each country
• Guidelines:
Belgium12.0%United States
21.4%
Canada
18+ years of age
Internet-connectedFranceUnited
Canada8.9%
Resides in the Belgium, Canada, France, Germany, Italy, Sweden, United Kingdom, United States
11.7%
GermanySweden
Kingdom11.9%
Germany11.4%
Italy11.4%
Sweden11.4%
25© 2010 InfoTrends, Inc. www.infotrends.com
Source: Trans Meets Promo…Is It More Than Market Hype?, InfoTrends, August 2008Source: Trans Meets Promo: A European Perspective, InfoTrends, October 2009
Direct Marketer and Document Owner Respondents
Direct Marketers and Transaction Document Owners(N = 1,416 Respondents)
• 1,416 direct marketer and transaction document owner respondents
Belgium6.1%
United States
Canada11.6%
8 countries
60+ respondents from each country
• Guidelines:
France10.5%
32.5%• Guidelines:
Operations in Belgium, Canada, France, Germany, Italy, Sweden, United Kingdom, United States
Germany14.9%
United Kingdom
United States
Responsible for the purchase or development of direct marketing programs (direct marketers)
Italy9.5%
Sweden4.3%
10.7%( )
Responsible for the purchase, development, or deployment of transaction documents (transaction document owners)
26© 2010 InfoTrends, Inc. www.infotrends.com
Source: Trans Meets Promo…Is It More Than Market Hype?, InfoTrends, August 2008Source: Trans Meets Promo: A European Perspective, InfoTrends, October 2009
Print Service Provider Respondents
• Quantitative research for the United States and Canada
Web-deployed survey to 230 print service providers with operations in the United States and Canada
These print service providers ranged in size, industry, and interest levels toward TransPromo
• Qualitative research in Western EuropeQualitative research in Western Europe
Phone interviews with a dozen print service providers with operations in Western Europe
Significant volume (>20%) in transaction printing/processing
Interviews include various sizes of providers currently d i T P d th h t
27© 2010 InfoTrends, Inc. www.infotrends.com
engaged in TransPromo and those who are not
W.E.: Consumer Feelings about Receiving TransPromo Documents
I would prefer not to receive documents in this fashion It is an environmentally-friendly alternative that I support
60%
I prefer this method to receiving additional mailings I prefer this method to inserts sent in the same envelope It serves as a more effective communication
40%
60%
20%
0%Total Belgium France Germany Italy Sweden UK
N = 2460 424 413 403 401 400 419
28© 2010 InfoTrends, Inc. www.infotrends.com
N 2460 424 413 403 401 400 419
Source: Trans Meets Promo: A European Perspective, InfoTrends, October 2009
Time Spent Reviewing Bills and Statements: Mail + Online
4 04
4.87
4.12
5Mail Online
3.363.55
4.04
3.26
3.68 3.58 3.64
3.06
4.12
3.06 3.142 833
4
2.47
2.83
2
3
Min
utes
1
0Belgium Canada France Germany Italy Sweden United
KingdomUnited States
N 424 313 413 403 401 400 419 754
29© 2010 InfoTrends, Inc. www.infotrends.com
Source: Trans Meets Promo…Is It More Than Market Hype?, InfoTrends, August 2008Source: Trans Meets Promo: A European Perspective, InfoTrends, October 2009
N = 424 313 413 403 401 400 419 754Consumers
Transactional Mail gets Read!
• Consumers spend an average of three to four minutes reviewing each statement they receive in the mail
• 20% of consumers spend five minutes or more
30© 2010 InfoTrends, Inc. www.infotrends.com
Source: Trans Meets Promo… Is It More than Market Hype? InfoTrends, August 2008
Preference for Mail Printed on Recycled Paper
14.1%
100%
It doesn't matter No Yes
6.6%1.6%
3.4%
9.0%
2.8% 2.9%
24.9% 25.2%34.5%
25.4% 23.1% 21.4%
36.2%80%
73 2%82.5%
74.3% 75.6%
7.0% 4.8%
40%
60%
68.6%73.2%
58.6%65.5%
3%
59.0%
20%
0%Belgium Canada France Germany Italy Sweden United
KingdomUnitedStates
N 424 313 413 403 401 400 419 754
31© 2010 InfoTrends, Inc. www.infotrends.com
Source: Trans Meets Promo…Is It More Than Market Hype?, InfoTrends, August 2008Source: Trans Meets Promo: A European Perspective, InfoTrends, October 2009
N = 424 313 413 403 401 400 419 754Consumers
W.E.: Primary Reason for Contacting Provider about a Bill or Statement
100%
Perceived billing error Unclear transaction informationChange of address or contact details Service cancellationResponse to a promotional message Other
80%
100%
40%
60%
20%
40%
0%Total Belgium France Germany Italy Sweden UK
N = 828 135 103 118 138 152 182Consumer respondents who have contacted their billing / statement provider
32© 2010 InfoTrends, Inc. www.infotrends.com
Consumer respondents who have contacted their billing / statement provider
Source: Trans Meets Promo: A European Perspective, InfoTrends, October 2009
Customer Support Calls Received per Month
4 1%4.0%4.1% 1.6%100%
Mean=1,571 Mean=1,259
16.6%13.6%
6.6% 8.2%4.1%
80%
10,000 or more
52.7% 65 7%40%
60% 5,000 to 9,999
2,500 to 4,999
1,000 to 2,49952.7% 65.7%
20%
40% 1 to 999
0
15.6%7.0%
0%North America (N=241) Western Europe (N=501)
33© 2010 InfoTrends, Inc. www.infotrends.com
Source: Trans Meets Promo…Is It More Than Market Hype?, InfoTrends, August 2008Source: Trans Meets Promo: A European Perspective, InfoTrends, October 2009
Cost of Call Center Maintenance
Mean=1,571 Mean=1,259
A C $10.50 €10.60
$16 495 50 €13 345 40
Average Cost per Customer Support Call
$16,495.50 €13,345.40per month per month
$160 145 00$160,145.00Euro/yr
34© 2010 InfoTrends, Inc. www.infotrends.com
Source: Trans Meets Promo…Is It More Than Market Hype?, InfoTrends, August 2008Source: Trans Meets Promo: A European Perspective, InfoTrends, October 2009
Average Number of Pages Per Bill or Statement
1 2 3 4 5 6 to 9 10+
7.5%13.2%7.4%
80%
100%Mean=3.1 Mean=3.8
16.6%
23.8%
7.9% 14.2%
60%
80%
26.6%
26.7%
40%
28.6%
8.2%0%
20%
N th A i (N 241) W t E (N 501)
35© 2010 InfoTrends, Inc. www.infotrends.com
North America (N=241) Western Europe (N=501)
Source: Trans Meets Promo…Is It More Than Market Hype?, InfoTrends, August 2008Source: Trans Meets Promo: A European Perspective, InfoTrends, October 2009
TransPromo Can Save Companies Money!
1. TransPromo reduces postage costs.
2. It can reduce the volume of customer communications while maximizing overall effectiveness. This means
ll i i i t ditoverall savings in print expenditures through the aggregation of direct mail and transaction documents.
3. Effective TransPromo communications can reduce the number of calls into a call center, as well as call duration.
4. As consumers and operations executives become more4. As consumers and operations executives become more technology-savvy, printed TransPromo communications can be used to promote the acceleration of e-statement delivery. This has further cost and environmental benefits.
36© 2010 InfoTrends, Inc. www.infotrends.com
e-Communications to Enhance Customer Service
37© 2010 InfoTrends, Inc. www.infotrends.com
Adding Mobile to the Mix with QR CodesWhat can the recipient do?
• Pay a bill• Accept an offer (from a statement orAccept an offer (from a statement or
a direct mail piece)• Link to a landing page• Provide survey information
predicated on the offerpredicated on the offer
38© 2010 InfoTrends, Inc. www.infotrends.com
Portion of Direct Mail Spending with External Providers
45 3%50%
37.8% 38.2%
31 6%33.4%
31 1%
39.8%
45.3%
40%
31.6% 31.1% 30.1%
20%
30%
10%
0%Belgium Canada France Germany Italy Sweden United
KingdomUnitedStates
N = 36 104 49 72 48 39 45 279
39© 2010 InfoTrends, Inc. www.infotrends.com
Source: Trans Meets Promo…Is It More Than Market Hype?, InfoTrends, August 2008Source: Trans Meets Promo: A European Perspective, InfoTrends, October 2009
N = 36 104 49 72 48 39 45 279 Direct Marketers
Direct Marketing Spending by Channel
Print Web Telemarketing Mobile (SMS) Other
9.4% 5.9%
9.2% 15.8%5.1%
80%
100%
31.8%
27.1%
13.6%
60%
44.4%20%
40%
44.4% 37.6%
0%
20%
North America (N=383) Western Europe (N=290)
40© 2010 InfoTrends, Inc. www.infotrends.com
North America (N=383) Western Europe (N=290)
Source: Trans Meets Promo…Is It More Than Market Hype?, InfoTrends, August 2008Source: Trans Meets Promo: A European Perspective, InfoTrends, October 2009
Top 5 Factors When Selecting an External Provider
North America (N=302) Western Europe (N=267)North America (N 302) Western Europe (N 267)1. Ability to provide a full range of
services from design to mailingQuality
2 Price Price2. Price Price
3. Easy to work with Ability to provide a full range of services from design to mailingse ces o des g o a g
4. Past experience Easy to work with
5 Quality Past experience5. Quality Past experience
41© 2010 InfoTrends, Inc. www.infotrends.com
Source: Trans Meets Promo…Is It More Than Market Hype?, InfoTrends, August 2008Source: Trans Meets Promo: A European Perspective, InfoTrends, October 2009
Business Value of TransPromo
• Reducing costs – Operational Effectiveness
Print spend
Postage
Call centers
• Making Money – Revenue Growth
Consumers read TransPromo documents
Cross selling and up selling
Customer life cycle management
Transforming operational costs into revenue
42© 2010 InfoTrends, Inc. www.infotrends.com
sources
Why TransPromo Now?
• Technology advances in inkjet
• Vendors want a new consumable revenue opportunityVendors want a new consumable revenue opportunity
• Competition will drive the market forward
Many continuous feed competitors (and not all are inkjet)Many continuous-feed competitors (and not all are inkjet)
Expansion of high-end cut-sheet color
W kfl fi i hi li ti t d b i• Workflow, finishing, application support, and business development
• Consumers have greater expectations for turnaround time,Consumers have greater expectations for turnaround time, immediacy, relevancy and efficiency
• Expected to be a double-digit growth segment worldwide
43© 2010 InfoTrends, Inc. www.infotrends.com
Platinum Sponsors Producers
Chicago August 10 & 11August 10 & 11
Corporate Marketing Agencies
Marketing Service Providers
44© 2010 InfoTrends, Inc. www.infotrends.com
InfoTrends’ European Events
3rd Annual
MoscowOctober 18 – 22October 18 22
BrusselsOctober 27 & 28
45© 2010 InfoTrends, Inc. www.infotrends.com