It will probably be Monday morning when you get this, so I apologize in advance. Maybe wait until you've had another cup of coffee and are settled, then tackle this? I'll wait ...
OK, here we go. Do you know everything a DR professional should know? Are you sure? To find out, see how you do on the short pop quiz below:
- What do you call the part of a DRTV commercial where a more expensive product is contrasted with your product?
- Based on DRTV history, what's the maximum amount TV buyers will spend on impulse (aka the maximum main offer price point)?
- Name three costs that must be subtracted from revenue when calculating a break-even CPO.
How did you do? No shame if you don't feel like you aced it. In fact, based on my recent experiences and the response to a blog post I wrote for ERA a while back, many people in the business have gaps in their knowledge. (In the article, I explain why this is completely understandable.)
Anyway, the point of this post is not to start your week by making you feel inferior (or superior). It's to let you know that I am giving a pre-conference workshop at the 2015 ERA D2C Convention called, "What Every DRTV Professional Should Know." The seminar will take place Monday, October 5 between 1 and 5 pm, and it will cover the answers to questions like those above. For more information and to register, visit the landing page for the workshop. Registering online saves you $100, so don't delay! Click here to register today! (See what I did there?)
Speaking of answers, here are the answers to the quiz above:
- The part of a DRTV commercial where a more expensive product is contrasted with the hero product is called a "value comparison."
- The maximum amount TV buyers will spend on impulse is $19.99. There have certainly been exceptions, but history has shown that going above that price typically turns an impulse buy into a considered purchase (more on those terms at the workshop).
- Finally, any of the following would be acceptable answers to the question of what costs should be subtracted from revenue to arrive at a break-even CPO: the cost of goods sold, telemarketing costs, Website transaction costs, fulfillment and warehousing, shipping, customer service, chargebacks, declines, returns, credit-card processing fees and royalties/commissions.
So how did you really do? Don't worry: I'll be posting more pop quizzes in the weeks to come.