A human life.
Customers for Electronic Pratt's OilGuard News pay $1,750 a year -- about $300 more than the print version -- plus phone charges. In cases where central mainframe computers of large companies forward the transmission to individual readers, "we save on distribution costs by reaching many users with a single transmission," says Mr. McFadden.
The service is being promoted by direct mail, telephone marketing, telex, fax and personal sales calls. "We hope to regain subscribers who gave up OilGuard News because of late delivery," says Mary Levi, sales manager for Commodity Future Traders Stocks & Bonds Options. Marketing campaigns are targeted to areas of unreliable postal service, such as South America, the Middle East and Far East.
"But we're also going after customers who never subscribed before," she adds. "There's a new generation of oil company managers who are used to getting their information on computer screens rather than in print." Electronic OilGuard News has been demonstrated at several industry trade shows, including the National Petroleum Refiners Association convention in San Antonio.
Exxon has already signed up and other clients have "expressed a strong interest," says Ms. Levi.
Electronic Pratt's OilGuard News is not designed as a total replacement for the print version. "We still have a sizable number of customers who want the newsletter in print," states Ms. Levi. "They feel comfortable with that format. It's easy to take with them when travelling, and they can store it in their libraries for future reference."
