A few weeks ago we were approached by BtoB magazine to provide a brief article on the subject of Intelligent Mail. If you are a reader of this publication you will already be aware that this is a magazine for ‘Marketing Strategists’. It is exciting to see this growing interest in the value that Intelligent Mail offers outside of just mail production. For companies, it means leveraging your existing investment in the IMb to drive more benefits that can be seen in marketing, billing and customer service just to name a few.
In the article my colleague, Kevin Conti writes, ‘Forward-thinking mailers will view all these Intelligent Mail programs as a competitive advantage to grow their businesses while reducing operating costs. Progressive list processing and mailing services companies have developed business cases around new Intelligent Mail Bar Code-based products and services, such as “virtual returned mail,” that may expand their market shares, differentiate their services and create substantial savings by eliminating time and material waste.’
Kevin also provides a best practices checklist that provides some great food for thought. Here’s the link to the article that provide for a quick and interesting read. BtoB Online Artlcle
Monthly Archive for January, 2010
A colleague of mine sent me these headlines and OK…my curiosity got the best of me…so I googled the headline and found the announcement on the USPS news site – so I guess the numbers must be real!
http://www.usps.com/communications/newsroom/2010/pr10_0113.htm
The article goes on to say that ‘Sixty Percent More Mailers Sign On to the Full Service Program’
To save you the time of accessing the details, I have included the contents in this posting:
It took seven months to hit the 1 billion mark, but only four more weeks to hit 3 billion. That’s the number of Intelligent Mail Full Service mailpieces processed by the U.S. Postal Service since the program’s implementation last May. The milestone mailing entered the postal distribution network the week of Jan. 4, and the actual number was confirmed yesterday. The number of Intelligent Mail Full Service mailers increased to 171, a 60 percent increase from mid-December. To date, Intelligent Mail Full Service has generated $1 billion in revenue. “The month of December has been one of exceptional participation and performance,” said Tom Day, senior vice president, Intelligent Mail and Address Quality. “The PostalOne! system handled more than twice the previous peak of eDoc postage statements and did so with 98 percent being processed in 30 minutes or less. Mailers are realizing the benefits of Full Service Intelligent Mail, and are doing so in a stable operating environment.”
In Q4 we at PBBI saw a lot of activity and while many of us were expecting to hear the sounds of very unhappy mailers that weren’t getting their earned discounts, all was quiet. So, it appears as though the USPS was ready after all. Not to suggest that there weren’t challenges, but all in all; the USPS with significant support from many mailers, seems to have pulled it off.
Please share any ups and downs you may have experienced in implementing Full Service IMB within your organization ….and….let’s see if this rate of growth continues in another four weeks!!!
In 2010, most print and mail managers are making plans to switch over to the new Intelligent Mail® barcode as the postal savings alone could represent hundreds of thousands of dollars. Your company’s transition to Intelligent Mail® will generate millions of data points that can help you improve marketing, enhance customer service and streamline billing and collections. Last week, we looked at how this data could improve marketing and customer care. Today, we explore the value in operations and billing.
Operations: Make Smarter Decisions
Reduce Cancellations. Every week, utilities, telecoms and others spend thousands of dollars turning off service, only to reinstate customers a few days later when payment is received. These costs—including the corresponding strain on customer relationships—can be avoided in many cases, because you can gain visibility of incoming payments up to three or more days in advance.
Manage Risks and Decrease Fraud. When high-value mail such as checks and credit cards do not reach their intended destination, that could signal theft or fraud. The ability to trace delivery from beginning to end offers companies a powerful tool that can help manage risk and identify issues before they become a liability.
Save Millions on Returned Mail. The true cost is far greater than many executives care to admit. When you add up the print and mail costs for the initial mailer, the increased call volumes, handling of returned mail, and the subsequent remailing costs, you could find yourself spending between $3.00 and $11.00 per piece. And that’s not counting the lost sales opportunities, communication delays, customer dissatisfaction and delayed revenue. With Intelligent Mail®, the data needed to update addresses and reduce undeliverable mail is already in-house.
Billing: Follow the Money
Expedite Invoicing. When an invoice reaches its intended recipient late – or not at all – your revenue stream may suffer. The United States Postal Service estimates that 34 percent of mail contains address errors that could delay or prevent proper delivery. With this new barcode, you’ll receive address corrections and can update records before the next invoice is sent.
Improve Lockbox Performance. Time is money, and the time it takes for your lockbox service to process and post remittance checks can cost thousands of dollars in interest revenue. By monitoring the flow of payments from the time they leave your customers’ hands to the time revenue is posted to your account, you can identify potential gaps in the process and take the necessary corrective action.
Collect More Effectively. With precise knowledge of when customer remittances enter the postal system, you can eliminate excuses (“the check is in the mail”) and prioritize who and who not to contact—saving five dollars or more for every call you can avert. You can also suppress production of unnecessary dunning notices, which leads to big savings.
The new Intelligent Mail® barcode is required under postal regulations in order to qualify for the lowest postal rates, but the value outside of the mailroom is even greater. Bridging the gap between the mailroom and critical business operations, solutions such as MAIL360TM and AuraTM software turn barcode data into actionable information. If you have other ideas on how this new event-based intelligence can drive business results, please add to the conversation!
Some companies invest up to five percent of revenue on information technologies, continuously looking for new ways to gain a competitive advantage. In 2010, organizations can generate valuable customer intelligence from an asset that already exists—mail.
The new Intelligent Mail® barcode provides for the lowest postal rates today and will be required by May 2011 under postal regulations. However, the value outside of the mailroom is even greater. This week we examine how you can improve marketing and enhance customer service. Next week we look at ways to streamline billing and collections.
Marketing: Sell More Effectively
Optimize call center staffing. With too few agents, calls go unanswered; having more agents than needed adds a tremendous cost. The capacity to pinpoint mail delivery with precision helps marketers ensure the right number of agents are available to take new orders.
Target in-home windows. When you can track and monitor mail delivery across the country you gain a competitive edge—the ability to plan communications so that they arrive at precisely the right time.
Reach more customers, more often. Nearly 50 million Americans move each year—and many make little effort to advise you. For marketers, that represents a huge cost and a lost opportunity. With Intelligent Mail®, the postal service will provide you with address corrections absolutely free of charge so you can stay connected.
Customer Care: Deliver Timely, Accurate Response
Reduce Talk Time. The ability to monitor and track the status of mail-based communications—including check disbursement, fulfillment kits, statements and compliance notifications—arms representatives with the facts they need to respond to customer inquiries with speed and accuracy.
Prompt Fewer Calls. A high percentage of calls are related to mail communications – confirming whether parcels, payments and orders have been sent or received. Now, delivery status can be tracked from the production floor through delivery; and you can make that information available to customers through web-based portals, eliminating follow-up calls.
Make Better Fee-Waiver Decisions. If there’s any confusion as to when a bill was received or when the payment was sent, many companies will forego legitimate late fee charges in the interest of customer service. Armed with precise information, customer service reps can act with facts and confidence.
Bridging the gap between the mailroom and critical business operations, solutions such as MAIL360TM and AuraTM software turn barcode data into actionable information. As we start 2010, think about the ways you can leverage Intelligent Mail® to locate new opportunities, connect with customers and communicate more efficiently.