Tighten Your Belts: G. Michael Moebs
Corrections or additions?
These articles were prepared for the February 7,
2001 edition of U.S. 1 Newspaper. All rights reserved.
E-mail Direct Marketing
Any business with a direct marketing campaign could
benefit from adding E-mail direct marketing to paper mailings. But
reaching potential customers via cyberspace is not without its
pitfalls.
Robert Bly, author of Internet Direct Mail, offers advice on
making E-mail direct marketing pay when he speaks to the Business
Marketing Association of New Jersey on Tuesday, February 13, at 6
p.m. at the Newark Airport Marriott. Cost: $25. Call Erica
Littig
at 609-409-5600.
“The cost of direct E-mail is lower and response rates are
higher,”
Bly says, succinctly summing up the reasons why the new direct
marketing
channel is worth a try. “Also,” Bly adds, “It’s
faster.”
A paper direct mail campaign typically takes two months from
conception
through approval, Bly says. Add more time for the marketing letters
to be sent out, carried the last mile by a postal employee, and
opened.
An E-mail direct marketing solicitation, on the other hand, can be
composed in minutes and zapped out instantaneously.
Bly, a graduate of the University of Rochester (Class of 1979) who
has made a living as a freelance copywriter since 1982, says E-mail
direct marketing is especially well suited for some products. He tells
of a client, Cabot newsletters, that did very well using the marketing
technique to promote newsletter subscriptions. “They were selling
a newsletter subscription on Internet stocks,” Bly says. “It
was a natural.”
Bly, who works from an office in Dumont, offers these tips for getting
started in E-mail direct marketing, and for avoiding common traps:
Who should use direct E-mail? “It’s better forcompaniesthat have and use an active website,” Bly says. For thesecompanies,he says, “It’s one of the most effective tools.” Embed thewebsite address into the E-mail solicitation and interested prospects”click and they’re right there.”How to find E-mail lists. This used to be a huge problem,Bly says, but the number of lists of target prospects has “grownphenomenally in the past two years.” Lists are available fromabout 12 major brokers. They are not hard to find, Bly says. A listof E-mail brokers is on his website (www.bly.com).What does it cost? While sending solicitations via E-mailsaves paper and postage and eliminates the charges of “lettershops” that send out mailers, the cost of obtaining lists ofprospectsis higher. “Internet direct mail lists are expensive,” Blysays. “They cost $100 to $200 per thousand.” This compares,he says, with charges of $75 to $150 per thousand for lists ofphysicalmailing addresses.E-mail marketers rent the lists, and the lists’ owners take care oftransmission. Some don’t charge to send out the bulk E-mailings, butothers charge from $50 to $100 a thousand.How to write the message. Keep it short, Bly advises.In composing a solicitation, business owners need to keep in mindhow quickly ‘Net surfers click their “delete” buttons. Startwith a strong subject line, Bly says, and keep it under 60 characters:”The shorter the better.” Embed your business’ websiteaddress,its URL, high up in the message, in the first or second sentence.And then repeat the URL, but only once. “Some people put it inthere 10 or 12 times,” Bly says, but that just clutters up themessage without improving response rates.How to fly under spam filters. “The biggest mistakepeople make,” Bly says, “is putting the word `Free’ into theirmessages.” This is so, he explains, because many people on theInternet use spam filters to block out solicitations. “Free”is a sure tip off that the E-mail is an advertisement.Like many others in the Year 2001, Bly is seeing the Internetnot as a stand alone transforming force, but as another tool.”It’sjust a supplement,” he says of E-mail direct marketing. “It’scomplementary.””Two years ago, I used to think print was dead,” Bly says.And not just for direct marketing. “Think about it,” he says.”Some guy gets into a car and throws newspapers on the lawn. Howbarbaric is that?” Barbaric or not, whether for news or marketingmaterials, print is not going to go away in our lifetimes, Bly issure. But smart businesses will augment print with an Internetpresence,and E-mail marketing can be an important part of that cyber strategy.— Kathleen McGinn SpringTop Of PageAlternative Science CareersB>Tom Vasicek has traveled from the lab up to atop executive spot with Internet startup LabSeek, a Minneapolis-basedexchange for laboratory outsourcing and services. Vasicek will talkabout the twists and turns his career has taken when he speaks on”Alternative Careers in Science: From Tools for Drug Discoveryto Advancing Science Worldwide” at the monthly meeting of thePrinceton Section ACS on Tuesday, February 13, at 5:30 p.m. at theFrick Chemistry Laboratory at Princeton University. Dinner followsat Prospect House at 6:45 p.m. Cost: dinner, $20; lecture, free. Call609-258-5202.Vasicek, chief scientific officer for LabSeek, a company that usesthe Internet to connect customers with laboratory services andconsulting.He holds a bachelor’s degree in chemistry from MIT and a Ph.D. ingenetics from Harvard. Responsible for discovering the second humangene on record, he also discovered a key gene in Siamese twinning.Vasicek began his career in academic molecular biology research, movedto gene discovery in the pharmaceutical industry, and then onto amanagement role at LabSeek.Using the turns his own career has taken — all within the worldof science — Vasicek will talk about alternative careers availableto scientists. Vasicek began his career in academic molecular biologyresearch, moved to gene discovery in the pharmaceutical industry,and then onto a management role at LabSeek.Top Of PageThird WorldOn Wednesday, February 7, at 5:30 p.m.Jeanne-MarieCol, an 11-year veteran of the United Nations, will address theAmerican Society for Public Administration New Jersey Chapter’s jointdinner meeting with AGA on Improving Third World Governments. Thedinner will be held at Mastoris at the intersection of Route 130 andRoute 206. Cost: $25 for members, $30 for non-members. Call609-298-1884.Col coordinates a global program for the integration of publicadministrationand the science of disasters. Her talk will center on her view thatfailures in governance and public administration account for manyof the weaknesses in governments in developing countries and societiesin transition. Using experiences from her years with the U.N., Collalso will highlight some of the best practices found at global,national,and local levels.Top Of PageMCCC in HopewellMercer County Community College’s continuing educationdivision has four courses in personal finance, all taught by certifiedfinancial planners, at Hopewell Valley Central High School. Call609-586-9446.How to Reduce Your Taxes could help participants makebetter long-term tax decisions. Among the questions that will beaddressed:Are you paying more in taxes than you have to? How can you avoidlosinga significant portion of your 401 (k) and IRA savings to income taxeswhen you retire? The two-session course starts on Tuesday, February13, at 7 p.m. Cost: $32.Stock Selection and Portfolio Management focuses onbuildinga stock portfolio for either the long-term or short-term investor.The course will provide analysis and technical trading techniques.Participants will assess their risk tolerance and arrive at a personalstrategy for a successful portfolio. The four-session course beginson Thursday, February 15, at 7 p.m. Cost: $80.How to Buy Mutual Funds explores the basic characteristicsof mutual funds, the risks involved, and the qualities of the topperformers. A financial planner will help participants learn todifferentiatebetween open end and closed end funds, to buy mutual funds at adiscount,and to avoid taxes on gains. The three-session course begins onWednesday,March 14, at 7:10 p.m. Cost: $48.Total Investment Management is designed for experiencedinvestorswho wish to refresh their investment skills. The course will enableparticipants to identify the proper portfolio for their needs,includingtax-free investments, stocks and bonds, mutual funds and more. Thefour-session course begins on Tuesday, April 17, at 7:10. Cost: $80.February 14Top Of PageTighten Your Belts: G. Michael MoebsMaking a commitment to control expenses is the firstand hardest step, says Michael Moebs, a Chicago-basedconsultant.For the New Jersey Bankers Association, Moebs speaks on “ExpenseControl & Fees for CEOs, CFOs, and COOs,” on Wednesday, February14, at 9:30 a.m. at the Eatontown Sheraton. His workshop will includetopics of particular interest to bankers: how to double fee incomefor consumer checking, how to adjust the pricing triad (fees vs. ratesvs. balances) and how to reduce fees and increase the bottom line.Cost: $300. Call 609-924-5550.The next steps in controlling expenses: Divide workers into smallunits that they feel they own. Keep track of how well each unit isdoing, and compare yourself to your peers using expense to assetratios,not expense to revenue ratios. Classify and rank-order expenses bycategory.Then work with those categories. Plan to frequently inspect yourshort-termcontrollable expenses that make up the bulk of your budget. Inspectless frequently the long-term controllable expenses. “Identifywhy you are good or bad at controlling a particular expense category,and emphasize the good,” he says.Top Of PageSelling to GovernmentThe Small Business Development Center at Raritan ValleyCommunity College and the Somerset County Chamber of Commerce willco-sponsor two procurement workshops on Thursday, February 15, at8:15 a.m. and 9:30 a.m. at the community college. Cost: $15 for thefirst session, $22 for the second. Call 908-526-1200 extension 8516.Madeline Britman, director of procurement programs of the NewJersey Small Business Development Center, will present the two-partsession.The first session will give an overview of procurement, explainingthe advantages small businesses reap by being registered as a smallbusiness vendor. Differences in state and federal procurementproceduresalso will be discussed. The second session will be more detailed,including information on how to gain access to agency contracts,eligibilityrules for vendors, and how to sell goods and services to the stateand federal governments. Representatives of the U.S. Small BusinessAdministration and the New Jersey Commerce Division will participatein this session.Top Of PageFor College BoundFor those trying to plan for college expenses, atoll-freehotline at 800-792-8670 has answers on financial aid and scholarshipsearches. Links to sites offering information on aid sources areincludedon the Higher Education Student Assistance Authority website.Especiallyhelpful sites include www.mapping-your-future.org, an award-winningcollege planning website; www.fastweb.com, which provides studentswith free college scholarship search assistance; and www.finaid.com,a comprehensive annotated collection of information about studentfinancial aid.Scott B. Freedman, executive director of the New Jersey HigherEducation Student Assistance Authority has these tips for New Jerseyresidents:In the New Jersey Better Educational Savings Trust ,earningsare free of state tax and federal tax is deferred when savings areused for higher education expenses.New Jersey’s Tuition Aid Grant Program offers needystudentsawards of up to the full cost of tuition to attend an in-state collegeor university.State Scholarships for Academic Achievement are basedon SAT scores and/or class rank. The Garden State Scholarship Programoffers a renewable $1,000 scholarship in the form of an Edward J.Bloustein Distinguished Scholar or Urban Scholar Award. TheOutstandingScholar Recruitment Program provides a sizable campus-basedscholarshipranging from $2,500 to $7,500.In addition to federal loans, New Jersey has a supplementary studentloan program, NJCLASS (New Jersey College Loans to Assist StateStudents). Residents or non-residents attending a New Jerseycollegemay borrow up to the full cost of college.Top Of PageFor DevelopersDevelopers building or rehabilitating rental housingfor low income residents are eligible for federal Low Income HousingTax Credits. The New Jersey Housing and Mortgage Finance Agency willallocate approximately $12.3 million in tax credits this year. Theagency will hold free all-day training seminars for developers onThursday, February 8, or Friday, February 9, at 8:30 a.m. at 637 SouthClinton Avenue in Trenton. Call 609-278-7578.The seminars will include a legislative update, a review of theproposed2001 QAP, social service opportunities, and the top 10 tax creditissues. State programs, including the Department of Community AffairsBalanced Housing program and HMFA’s multi-family financing programs,will be discussed. Representatives of syndication firms, includingApollo Capital, Boston Capital, Columbia Housing/PNC, ESCI, FirstUnion, Intrust, Lehman Brothers, NEF, NW Financial, Related Capital,the Richman Group, Sterling Financial, and WNC will be available.Top Of PageInnovation Garden StateInnovation Garden State, an initiative to attract newbusinesses to New Jersey and to promote the state as a high techcenter,has named fundraising co-chairs. They are Frank Ianna, presidentof AT&T Network Services and Richard Lane, president ofBristol-MyersSquibb Worldwide Medicines Group. Innovation Garden State is aninitiativeof Prosperity New Jersey, a non-profit, private/public partnership.Top Of PageCorporate AngelsSovereign Bank is helping underwriting a fund-raising art auctionfor the Child Care Connection on Saturday, March 10, at 7 p.m. atthe Kirby Arts Center, Lawrenceville School. CCC is a nonprofitresource and referral agency that provides recruiting and technicalassistance to potential day care providers and also offers childcaretraining (609-737-9243). Patron tickets are available at $25, butother tickets are $10 per person, $15 per couple.Donations have also been made by McCarter Theater, Shear Magic,Amici’sRestaurant, Wegman’s Market, Hyatt Regency, Marriott Hotel, GeorgeStreet Theater, TJ’s Trattoria, Chazam’s, Alpha Books, Edo Sushi,Marazzo’s Market, Custom Woodwork & Design, China Chef, SovereignArena, and Lamberti’s Restaurant.Previous StoryCorrections or additions?This page is published by PrincetonInfo.com— the web site for U.S. 1 Newspaper in Princeton, New Jersey.
