January, 2011 archive
How to Buy Lists for Direct Marketing 0
First, you need to identify your target market and then you need to define your marketing campaign. This will determine the type of list you will be shopping for. In order to determine who your target market is, you need to understand who would be interested in your product or services.
While it is possible that a random person might come along and buy your product, it’s even more likely that someone who was targeted because there is some common ground between themselves and your product or service, would buy your product.
Things to think about when Purchasing Direct Marketing Lists…
Who are you trying to reach? Businesses? Consumers?
What are you offering? What are you trying to promote?
Where are you trying to reach? What’s the geography involved?
When do you want your message to go out and how frequently?
Why do you want to reach this audience specifically? What’s your objective
How do you want to reach your audience? Direct Mail, Telemarketing, Opt-in Email or SMS/Texting?
What’s your marketing budget for the list? Have you taken into consideration all costs involved for your project? Postage costs, printing costs etc.
Know the Different List Sources Available
The information provided for Direct Marketing Lists is collected in a variety of different ways. This will often affect the quality and price of the list.
Association – Professional or trade association membership buyers. Many of these individuals also purchase other offerings from their organizations.
Subscriber/Controlled Circulation – Magazine or continuity subscription buyers. Sometimes offered along with names of expired subscribers at a lower price.
Buyer – Proven buyers of a list owner’s product or service. Often offered with a “hot list” or “recent buyers” sub-file at an up-charge.
Compiled – Names of prospective buyers compiled by a third party. While not usually considered as productive as association, subscriber or buyer lists, compiled files can be effective.
Direct Response – Responders to past offers either by telemarketing, direct mail, TV/Radio, internet/online registration.
Understand Your List Price
Costs are determined by the list source, the select criteria, and the volume ordered.
Lists most often have a base price per thousand names, expressed as cost “/M”.
Options to ‘select’ other criteria such as geographic areas, job titles, industries, or other desired information are usually an additional cost/M
Processing & Delivery by email are charged for each order. These are direct charges for processing the order and then delivering the data electronically. Cost is a flat rate usually between $50-$95 regardless of the size of the list.
Different Accounting Information Systems 0
When you are in business you will need to have information at your fingertips that allow you to make decisions. There is a wealth of information contained in the data of your company that you may not be using to the full. Accounting Information Systems add value to companies who know how to mine their data and use it for strategic growth.
There are three major types of accounting information systems used by small business owners. These include manual or paper-based systems, spreadsheet accounting systems, and accounting software. Each of these systems is unique in the level of information that it provides to users. There is no one choice that is right for everyone however make sure that the one you select is one that will meet the needs of your company. The more complex your reporting requirements become the more robust your accounting systems should be.
An accounting information system is made up of tools such as accounting software that you use to track financial activities. It also includes information about your customers and vendors. The goal of the system is to give companies accurate and timely financial reporting, analysis, and forecasting capability. Managers can use this system to identify trends in the business. For example, sales reports created with accounting information systems make it easy to see which items are selling best. It also helps managers take advantage of opportunities to expand by having reports that show new trends in sales that can add to future expansion.
The accounting information system also provides data about expenses. Any cost that is incurred to operate a business is considered an expense. Update your system frequently in order to keep an eye on the costs that may impact profits. Use the system to help you become familiar with how to spot trends and what important changes are occurring to affect your bottom line. This will enable you to proactively plan for changes and grow your company. For example, when rolling out a new project you will want to look at the growth trend in sales. Does your business model indicate that a change in programs will add to sales? If so, for each additional sale that you generate by how much will you need to increase expenses? If you increase expenses, will you still be able to reach target profit goals?
Accounting Information Systems are tools that every business owner should have in their company. Over time you may need to update them as your need for information changes. A good rule of thumb is to chart out what your reporting needs are prior to making your initial investment in an accounting system. You will want one that is easy to learn, quick to implement, and flexible enough to expand.