Direct Marketing and "Product Strength"
In direct marketing, your sales methods and the mailing lists you use change depending on the strength of your "product strength."
The Concept of Product Strength, Sales Methods, and Mailing Lists
To understand the relationship between product strength, sales methods, and mailing lists, let's think of product strength as "bait," sales methods as the "fishing spot," and mailing lists as the "fish."
Product Strength = Flavor of the Bait
For example, let's consider a product with strong appeal as delicious bait, and one with weak appeal as a delicacy. Many fish want to eat delicious bait. They will come to eat it one after another. On the other hand, a delicacy has a taste that divides opinion. Few fish will want to eat it. To scatter bait in the ocean, it is better to use bait that many fish will think, "I want that!"
Sales Method = Size of the Fishing Spot
Next, let's assume that new business development is the act of scattering bait in the ocean. You put the fish caught in the ocean into a huge fishing pond. The fishing pond represents repeat customer strategies. You move the caught fish into a smaller fishing pond. You repeat this process.
Mailing List = Fish
Fish placed in a small tank represent a mailing list with a high purchase frequency. They are eating various things. While delicacies have divided tastes, it is easier to find fish that want them than it is to search for them in the ocean.
If Product Strength is Strong, Use New Business Sales; If Weak, Use Repeat Sales
If product strength is strong, it is easier to acquire many names for new business sales; if it is weak, even if new business sales are difficult, you can find business opportunities through repeat sales. The strength of a product is merely a matter of the number of people who want it, not a question of quality. Products that appeal to the masses are generally considered to have strong product strength, while niche products that appeal to experts are often considered weak.
#009 Our article on "Sales Concepts in Direct Marketing" is also highly recommended for your reference.
Next time, I plan to introduce information regarding customers and mailing lists. Stay tuned.
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