Crain’s New York Business wanted to win back past subscribers, but their existing package was expensive to produce. How do you create a new package that would outperform the existing one … but cost less?
First, we took into account the audience – those who had let their subscription lapse for at least 6 months. Already familiar with the brand, these former customers just needed limited promotional copy and quick information on the great deal. Second, we examined what was working in advance renewals — the straightforward voucher approach. Aha moment: Why not test to see if the streamlined renewal voucher creative would work to acquire past subscribers — with just one major change: Revise the headline to say Executive Discount Voucher, instead of Executive Renewal Voucher.
A double winner! This new package improved response by 4%. Plus, it cost less than previous new business packages – only $40 per thousand. It rolled out to hundreds of thousands of prospects. For 10-plus years, it reigned as control. Moreover, other publications in Crain’s stable adapted the package for their new business promotions and enjoyed similar success.
