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PIP Series: Part 2: How much might a package insert program be worth to us?
Package Insert Programs (PIPs) are an extremely effective way to generate incremental revenue for your e-commerce business.
Working with a specialist PIP expert, such as Connections (US, Canada), will instantly generate additional revenue through complimentary, non-competitive advertising partnerships with well-known, trusted brands like HelloFresh, Chewy, Harry's, and many more.
As marketing budgets contract and many ecommerce businesses are being asked to do more with less, the introduction of meaningful incremental revenue from the launch of a well-managed PIP is a desirable option for all ecommerce businesses.
The packages are being sent out regardless of whether they contain revenue-generating advertising collateral or not. So, for no additional cost, e-commerce companies can start using this additional revenue stream to plug the hole that may have resulted from reduced marketing budgets.
One of the questions we get most often here at Connections is: How much money could I expect to generate if my e-commerce company were to launch a PIP?
The answer to that is one that nobody ever wants to hear! And that is 'it depends'.
It depends on the sector your ecommerce company operates in, the volume of packages your business sends out on a monthly, quarterly, and annual basis, the level of advertiser appetite for your audience, and, of course, the CPMs (cost per thousand) that Connections is able to obtain from advertisers.
However, Connections is always trying to help potential PIP partners to understand the 'size of the prize' and to that end we have developed a revenue calculator.
Simply follow this link https://exactconnections.com/tools-retail-revenue-calculator and input the information as requested. The calculator will then generate a ballpark figure for what your program could be worth.
Once you have done that and you are ready to talk, please feel free to get in touch. https://exactconnections.com/join-connections
We look forward to hearing from you soon.