December 4, 1990
TO: DIRECT MARKETING COMMITTEE NO. 29-90
RE: MINUTES OF LAST MEETING; PLANS FOR UPCOMING MEETING
__________________________________________________________
Here are the minutes of the last meeting of the Direct Marketing
Committee, which was held in Washington, DC on September 19.
Also enclosed is an agenda for the committee's next meeting,
which will be held at 2:00 on January 16, 1991 in Miami Beach,
Florida. You should have already received information on the
location of this meeting, as well as the meetings of the other
marketing and communications committees that will be held at the
same location around the same time.
In reviewing the minutes of the last meeting, you'll recall that
the committee expressed interest in the formation of ad hoc
subcommittees. These subcommittees would consist of small groups
of Direct Marketing Committee members interested in discussing
specific topics in more detail than is practical in Direct
Marketing Committee meetings. Each group would provide a report
on their discussion and any action plans to the entire Direct
Marketing Committee as a whole.
After discussing appropriate topics with a number of committee
members, we have identified four areas that seem to be of
interest. They are:
1) Telemarketing
This subcommittee would compare notes on the hiring, motivating,
training and career pathing of fund telephone representatives, as
well as the role of proactive (outbound) and reactive (inbound)
telemarketing in the marketing plans of direct-marketed fund
groups.
2) Relationship Marketing
Cross-marketing, database marketing, and using shareholder
service as a positioning and differentiation tool are possible
topics of conversation for this discussion group.
3) Retirement Plan Marketing
This subcommittee could discuss the various ways fund groups are
direct marketing 401(k), 403(b), and Keogh plans, as well as SEPs
and IRAs. It would also look into ways the Institute could
support retirement plan marketing efforts through the development
of generic informational materials.
4) Fulfillment Issues
Fulfillment represents a necessary and large expense for many
direct-marketed fund groups. This subcommittee's discussion would
focus on ways of containing or reducing these costs, as well as
fulfillment kit design, production, packaging, and mailing.
We are planning to hold the initial meetings of these ad hoc
subcommittees during a working luncheon on January 16 at the
Doral Ocean Beach Resort in Miami Beach (just prior to the Direct
Marketing Committee meeting, which will be held at 2:00 p.m.). At
these meetings, the interest level of each group will help to
determine whether they will meet again and, if so, how often.
Also, at least for the first meetings of these groups, the four
subcommittees will meet simultaneously, though in the same room
or in close proximity.
If you would like to participate in any of these ad hoc groups,
please indicate the subcommittee of your choice and return the
attached response form to Stephanie Brown at your earliest
convenience. Once we determine how many members are interested
in attending subcommittee meetings, we will provide you with
further information on the working luncheon. Only those Direct
Marketing Committee members indicating interest in serving on a
subcommittee will receive more information on the meetings.
Participation in these initial subcommittee meetings will be
limited to members of the Direct Marketing Committee. In the
event that a committee member is not able to attend the meetings,
a substitute may attend a subcommittee meeting and the regular
committee meeting in the committee member's place.
As always, please feel free to call me at 215/648-6072 or
Stephanie Brown at 202/955-3536 if you have any questions,
comments, or ideas. We hope to see you in Florida.
Best regards,
William F. Hostler
Chairman
Attachments