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Components of direct
Components of direct
Execution 10% • Executional Excellence
• What’s the single most important thing you
want to say to the customer?
Proposition 30% • What’s the undeniable customer need that is
satisfied by our product benefit?
• What do you want customers to do?
• Who do you want to target? Why are they
right group for this offer?
• What unifies them as a customer group – what
separates them from other potential customer
Targeting 60% groups
• When is the optimum time to reach them?
• What is the clear indicator that identifies
them as being suitable for the product?
Source: Drayton Bird – Common sense DM
And after 14 years of validation....
Targeting Proposition Creative Timing
CDM3. Dimensional Mail
In order to get a higher interest rate on their funds, many Commonwealth
Bank business customers were parking their company’s cash reserves in
high-interest accounts with other ﬁnancial institutions.
Commonwealth Bank set the target of convincing 5% of these businesses that
they could keep their money with CBA and still achieve a high interest rate
(7.25% with the Business Online Saver account). However, Financial Controllers
of these businesses are notoriously dismissive of marketing communications.
We worked in conjunction with local bakers from around the country to send
these Financial Controllers something that would get their attention and help
celebrate the great interest rate we were offering – a cake!
This mailing achieved a 15.62% conversion rate, which saw an incredible
$14,068,862 swept into Commonwealth Bank’s Business Online Saver accounts.
This campaign represents an amazing return on investment of 472%!
(And above all, we were able to avoid using any clichés, like ‘getting a bigger
slice of the pie’, ‘proof is in the pudding’, and ‘a piece of cake’. That’s what we
call having your cake and eating it too.)
Please Note: Due to this pack being of a perishable nature,
we were unable to supply an actual sample.
Commonwealth Bank - “Cake”
Things to do - today
• Be speciﬁc in who you talk to
• don’t count those you reach - reach those who count
• Talk to fewer people to get greater results
• apply differential strategies based on value to the business
• Think differently about the opportunities and the market
• doing what you’ve always done, won’t get you what you’ve
• Use a range of channels for impact
When the market gets tough...
the smart go direct.