Question

Topic: Advertising/PR

Advertising With Inserts In Credit Card Statements

Posted by Anonymous on 7/20/2006 at 3:48 PM ET 200 Points
My company offers a product makes it easy to quickly look into your home or business to see live video, control lighting or temperature and respond to alerts from wireless sensors that notify of motion, door/window activity, water leakage and temperature changes. You can use a web enabled cell phone or PC to do so.

I was thinking of having credit card companies, store card bills, etc have an insert promoting our company. I am not certain how to go out connecting with these companies. Any suggestions?

In terms of pricing, any idea how much this endeavor will cost, not including the creation of the actual creative material?
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RESPONSES

  • Posted by Deremiah *CPE on 7/21/2006 at 1:39 PM Member
    Hi mbishop,

    I hope you're having a great day!

    I spent over 5 years in the security industry as a consultant for the #1 & #2 security companies. It sounds like you're referring to security products. Is that correct?

    If it is I would suggest that you do the following

    INVEST BACK INTO YOUR EXISTING CUSTOMERS...
    because this is the least expensive way to expand your business versus advertising in a whole new market. If you've got the money just reinvest it back into your existing customers and here's why...

    EXISITING CUSTOMERS PURCHASE A WHOLE LOT MORE THAN NEW CUSTOMERS...
    That's right existing customers purchase way more than new customers. As a matter of fact they purchase two to three times more than a new customer and going after new customers is a lot more expensive than maintaining an existing customer.

    PETER DRUCKER SAID...
    the only real reason why we are in business is to take care of a customer. So we're not in it first to make money because that part will take care of itself automatically when we do first things first...take care of the existing customer.

    USE THE LAW OF RECIPROCITY TO WORK FOR YOU...
    but don't believe a word I'm saying you've got to "Try It!". That's right try the Law of reciprocity on many levels. The law of reciprocity is just a new way to phrase an old law that was an ancient proverb. It goes "you reap what you sow". So by giving back to the existing customer base and directing our interest/time and money back toward them we gain more from the relationship since they are the ones who help us pay our bills anyway.

    EXSITING CUSTOMERS BRING TO US NEW CUSTOMERS WHO DO MORE FOR OUR BUSINESS...IT'S A PROVEN FACT...Furthermore these existing customers refer other customers like themselves who come into our organization right from the beginning of the relationship purchasing with confidence. They start off making bigger purchases because they have a greater trust and confidence in our business. Remember our only real problem in life is our failure to be "MORE Creative" than we’ve ever been. If you “Invent” your opportunity YOU WILL most definitely create your future. Just know that I'm here for you if you need my help. Is there anything else I can do for you?

    Your Servant, Deremiah, *CPE (Customer Passion Evangelist)
  • Posted on 7/23/2006 at 12:35 PM Accepted
    Hi,
    Rather than inserting ur ads into all credit card statements, try to draw the profile of ur typical customer... the person who would be interested in ur product.. what his age band would be, income level, lifestyle parameters etc.. credit card companies have this data with them.. if u negotiate for this cut of customers, it would (a). help better targetting rather than a shot gun approach (b). reduce costs as insertions are charged at a piece rate
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