The power of enhancing your list rental file
List owners and managers are constantly searching for new and innovative ways to market list rental files and reach out to non-traditional mailers.
One of the best ways to accomplish this is to take data enhancements to the next level. By incorporating the Profile Analysis Principle into your list marketing strategy you can determine how to segment your rental file into individually marketable standalone lists.
The first step is to partner with a data company that has a comprehensive aggregated, multi-sourced and multi-verified database that is representative of the entire country.
That database should include data from public records, self-reported interest categories, credit data, multichannel shopper data, modeled propensity data and mail order buyer data. Remember, you need the highest possible overall match rates on your appends.
The next step is to conduct a profile analysis on your list rental file and identify the top indexing lifestyle, demographic, purchase propensity and credit characteristics.
Once you know which data enhancement variables are highly correlated to your customer file you can begin to create individual lists based on those variables.
For example, let's say you are a list manager marketing a nonprofit file (ABC Donor File). About 97 percent of your list rental revenue comes from other nonprofits that rent your file.
In order to grow this revenue you need to reach out to mailers outside of the nonprofit arena. Once the profile analysis is complete you find out that the individuals on your rental file are heavy travelers that are prime credit candidates who are also heavy multichannel shoppers.
This information can easily be turned into individual lists for marketing to both nonprofits and other industry mailers by selecting this data off of your newly enhanced rental file. You can create lists such as:
• ABC Donor Travelers - market to the travel industry
• ABC Donor Multichannel Shoppers - market to mail order brands and Internet retailers
• ABC Donor Prime Credit Prospects - market to credit issuers and other financial institutions
You now have a powerful story to tell your mailers because you are not just simply enhancing your file with arbitrary data variables. You are actually determining your best list rental markets by employing statistical analysis. The result of which is (a) the ability to market to out of category mailers that may have never considered your file before; (b) you create additional exposure with new standalone lists; (c) you increase your revenue by sharing select charges with your data partner; and (d) ultimately getting a higher test to continuation ratio.
