Has your company ever honed a promotional activity only to see it lose its potency right as you perfect it? The frustrating fact is that promotional activities have a shelf life.
This happens because the more effective you get at targeting a market the faster you tap the folks who respond to a given approach. A company I worked at had honed direct mail to a fine art over 3 years – our response rates consistently topped 2%. All of a sudden our response rates were down to 1%. We knew our stuff was good – it had worked in the past. But over those 3 years we had reached most of the folks who responded to mail.
What can you do when this happens? Follow me to the flip for 3 suggestions.