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« November 2007 | Main | January 2008 »

December 13, 2007

The Elephant in the Room...The EHG Space

Printers keep stressing about "new markets" and "becoming solution providers" and keep missing the elephant in the room – the amount of money that is floating around education, health and government looking for a place to land. Maybe the real new market problem for printers comes from the fact that they have the wrong customers.

Advertising to sell stuff was great for the last 40 years. But that was then, this is now. If there are new better, faster and cheaper ways to sell stuff, then maybe it's time to get whatever is left on the table and move on to greener pastures. Businesses that sell goods and/or services succeed best when they focus on their ‘Most Valued Customer.’ Organizations in the EHG -
Education, Health and Government - space have to serve everyone. They can't afford the luxury of ‘Most Valued Customers.’ They are required by law and mission to only have ‘Equal Value Customers.’ When communicating with a market of ‘Equal Value Customers,’ print is not a "nice to have," it is a "must have."

Print works best in combination with the rest of whatever else is present in a real-world communication ecology. Digital print is able to integrate with that ecology in new and previously impossible ways. Being a solution provider that has the expertise to get the write marks on the right paper and then in the right place in a space where print is a "must have" makes a lot of sense. One would have to wonder what new opportunities might emerge if printers focus on solving their own problems as citizens, living in local communities with real challenges in making public education, community health and responsive government a practical reality.

Michael Josefowicz

www.josefowiczassociates.com
My day job is project based team building.


December 10, 2007

The Future of Communications in Retail Banking

The Banker has just published an article in this month’s supplement called “Personalise or Perish“. It’s based on research that was sponsored by Xerox and published in a report called “The Future of Communications in Retail Banking“.

The essence of the report is that bank customers want their banks to market to them in a much more personal way, sending offers and promotions that are relevant and timely. The banks understand this desire (about 88% wanted to deliver more personalised messages) but are constrained by technology and a lack of good customer data.

The conclusion of the article is that few banks have been able to achieve the goal of personalising customer communications but I have worked with a number of insurance companies and investment firms who are making good progress and the way they began was to start small and grow. For example one insurance company chose a new product launch and promoted the new product using personalised communications. They now have over 100 personalised marketing pieces available in multiple languages. An investment firm wanted to use personalised communication to attract high net worth clients and they started using the technique to invite clients to just one type of promotional event. They now use it with dozens of different communications and are incorporating smart document technologies to automatically respond to their clients.

Julian Troake
Global Industry Marketing Manager
Xerox Global Services

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