Pitney Bowes Launches New Strategic Business Plan To Tap $250 Billion 'Mailstream' Marketplace
Press release from the issuing company
STAMFORD, Conn., Dec. 6 -- Pitney Bowes Inc. today launched a new strategic business plan to tap a $250 billion market opportunity within a $900 billion global category called the mailstream. The company marked the event by ringing the closing bell at the New York Stock Exchange. The mailstream is the sum of all mail and documents, both physical and electronic, that flow into and out of a business, as well as the people and systems that enable this constant stream of information.
"Not long ago, innovative companies discovered the benefits of supply chain and customer relationship management to reduce costs and drive growth," said Pitney Bowes' Chairman and CEO Michael J. Critelli. "Today, while major corporations, from eBay to Aetna, are discovering the true value of the mailstream, many companies have yet to tap its true potential." Mr. Critelli added that Pitney Bowes is uniquely positioned to help customers of all sizes optimize their mailstream to better communicate with customers, improve operations and build profits.
The content of the mailstream includes everything from direct marketing collateral to bills and monthly statements, from catalogs and parcels to letters, invoices and magazines to Netflix DVD rentals, and just about everything sold and purchased through eBay. The mailstream stretches from document creation to delivery and response. It incorporates a wide array of elements, including database management, sorting, printing and distribution - each of which create value at different points of this constant flow of information.
Strengthening Customer Ties
A key component of the Pitney Bowes mailstream strategy is strengthening communications effectiveness between business and customers. Despite three straight years of growth in direct mail spending, recent indicators suggest that customer responses are down. A recent survey conducted by Harris Interactive on behalf of Pitney Bowes highlights areas where businesses can improve customer communications through the mailstream. Most notably:
* Nearly half of U.S. adults surveyed (49%) said they would be less likely to become or remain a solicitor's customer due to poorly targeted communications, such as addressing mistakes or inappropriate offers.
* Nine in ten U.S. adults surveyed (92%) reported having received multiple copies of the same piece of mail.
* Nine in ten U.S. adults surveyed (91%) have received offers or solicitations for a service or product they already subscribe to.
* About three-quarters of U.S. adults surveyed (74%) have received inappropriate offers or solicitations from businesses in the mail, such as credit card offers for children.
However, the survey results also suggest there are a number of ways that businesses can use the mailstream to ensure business solicitations are more effective.
* Seventy-three percent of respondents say they are much more or somewhat more likely to respond to solicitations that are timely.
* Seventy-six percent of respondents say they are much more or somewhat more likely to respond to solicitations that are relevant to their interests.
"Spam filters, DVRs (digital video recorders) and do-not-call lists are making it more challenging for companies to effectively communicate with customers," said Murray Martin, COO and President of Pitney Bowes Inc. "By leveraging Pitney Bowes' expertise, our clients can optimize their mailstream to reach a highly targeted, receptive customer base with the right message, which in turn can help them gain a substantial edge over the competition."
With the help of Pitney Bowes, companies are cutting operating costs, maximizing customer acquisition and retention, optimizing cash flow and enhancing regulatory compliance -- all by changing the way they manage their mailstream.
To support the launch of its new business model, Pitney Bowes recently implemented a comprehensive advertisement and marketing campaign, targeting customers through television, print and online vehicles.
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