financial direct mail marketing

Prospecting for new clients can be tough work, especially when you read reports that “prove” your current method isn’t working. The truth is that direct mail has been proven time and again as a powerful marketing tool for any industry. If you’re not seeing returns on your direct mail investment, maybe you just need a fresh approach.

How To Improve Your Chances

If you have noticed a drop in responses for your direct mail marketing pieces, that can be a tough pill to swallow. Cold touches—phone calls, mail pieces, and even emails—are often overlooked or immediately trashed. It’s the result of oversaturation. When consumers are constantly bombarded with marketing messages through every available medium, they become desensitized.

What this means is that every marketing outlet will experience the same results—not just direct mail. It also means that you just have to change the way you do things. A quick guide to getting results might look a little something like this:

  • TARGET your audience
  • PERSONALIZE your message
  • EDUCATE your prospects
  • GUIDE your leads
  • CONVERT your clients

If you’re familiar with sales techniques, you may see something of a sales funnel here. That’s because your financial clients behave just as any buyer would. They will experience a journey from awareness to purchase, but they need your guidance.

What Your Campaign Might Look Like

When you start a campaign to reach potential clients, you need to know a lot about your target audience. Where do they live? What do they enjoy doing in their spare time? What is their annual income? The more you know, the better you can tailor your message to their needs.

Next, you must personalize your initial message. Addressing an envelope to “current resident” is sure to land your mail in the garbage. Instead, do your homework and address your mail pieces to each individual. Will you occasionally reach the wrong person? Yes, of course. But the few pieces that go astray are nothing compared to the number that will be marked junk if you use a generic greeting.

The education portion of your mail is critical. This is where you address your prospects’ needs and tell them how you will provide. That’s hard to do in a letter, isn’t it? That’s why you should consider including a personalized URL that directs each recipient to your website. This allows you to present a gripping headline and message without overwhelming prospects with too many words. They can follow you straight to your website and learn everything else they need to know there.

When a prospect uses that PURL, you’ll know exactly who has responded to your mail pieces. Further mail is always a great idea, because you know that these leads are interested enough to find out more. As they continue the journey toward a decision, they will need more and more information. Continue to guide those potential clients through postcard nudges, email reminders, and new information on your website.

Some Additional Tips

Regular mail is easy to overlook in a mailbox. Yes, recipients have to handle that mail, so your first piece has a good chance of at least being seen. If you really want to catch their eyes, you may need to get a little creative. Studies show regular letter-sized mail may get a 3.5% response rate. Oversized envelopes, however, get up to a 5% response rate. Dimensional mail, or “lumpy,” can get a 4% response rate.

With a solid marketing campaign in place, what you really need is to make that first touch count. Let us help you guide those prospects through the buying cycle with a first touch that connects.