In the Summer 2008 issue of our newsletter, Let’s Grow, I argued that traditional catalogers better start embracing some new strategies if they expect to stay in business. Postage, paper and fuel costs coupled with the real possibility of “do not mail” legislation are stacking the decks against business-as-usual marketing.
A recent report by Forrester Research points to the media that online marketers are finding most effective. Despite the recession, nearly 40% to 50% of online marketers are increasing their spending in four key areas:online search, email marketing, user-generated content and social networking.
I’m not suggesting that traditional catalogers should completely change their business model overnight. But think about taking 10% of your budget and expanding your marketing mix into some of these areas. You may find it to be the most profitable part of your business.