Bookplan

BookPlan is a computer model to help direct mail marketers, such as catalogers, in planning and budgeting each mailing. The model analyzes the many factors other than circulation details that affect response to a mailing. Examples include:

• Timing of the mailing;

• Number and composition of products offered;

• Format of the mailing;

• Time since last mailing, and

• Price levels of the offered products.

Many direct marketers use modern quantitative approaches for planning their circulation, such as RFM models. On top of those detailed projections, however, management often overlays broad "adjustments" for other factors they feel will affect the mailing's response. A large mailing may have 8 - 10 such adjustments to consider. Typically, management discussions of these adjustments consume more time and energy than their accuracy justifies. BookPlan automates many of these adjustments and helps manage the others.

BookPlan is offered as an analytical service, coupled with a PC software product. The analytical service includes calibration and model-fitting based on your historical data, plus industry averages. This model is stored in an Excel add-in, which you use as needed to plan new mailings.

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