The following item appeared in Bank Marketing News:

How To Tell If You Have A Good Response
February 5, 2010

Chapel Hill, NC:  "A good response is one that reaches your objective or better. How do you set a good objective? That depends upon measures that take in the bottom-line," stated Steve Cuno, author of The Bankers Direct Mail Bible and Prove It Before You Promote It.

[For more of Cuno’s secrets to direct marketing success, see  Direct Mail Guru Tells Success Secrets.]

"If you can show provable results, the bean counters will leave you alone," commented Cuno. 

Cuno, CEO of the Response Agency, Salt Lake City, Utah, offered his observations during an February 4, 2010 Webcast entitled, “Direct Mail: What Works, What Doesn't, and How to Get Started.” The presentation was hosted by OnsiteConference, Inc., a privately held research marketing firm located in Tampa, Florida. 

"Your earnings objective should be based upon on what you know about the value of the customer,"stated Cuno. "That's where the LTV (Lifetime Value) comes in.  If you know the return you can expect over the life of an account relationship, you can figure... 

(To read the rest of this article, go to Bank Marketing News by clicking here. A new window will open.)
 


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