The Direct Mail Gamble: 4 Direct Mail Basics Most People Miss
Kenny Rodgers told us we ‘gotta know when to hold ’em, know when to walk away, and when to run…” But I am in no way a gambler. I do not find comfort in leaving things to chance – especially anything that could negatively influence my own business, or yours. I prefer structure and following specific methods. That’s why I itched a little bit as I watched “Storage Wars” today on TV. I discovered it today as I was flipping channels on my way to the news.
If you are unfamiliar with the premise, a group of people bid on the mysterious contents of abandoned storage units. The hope is they’ll unearth a goldmine of opportunity they can resell, and spend as little as possible in their pursuit. But they never know what they’re going to end up with, gambling that the money they’ve spent on a hunch will pay off handsomely. Oh wow.
That is not strategy. And it certainly should be 180 degrees from the way I hope you run your business and prospect for new customers. If, like me, strategy is king, I have 4 New Customer Marketing Strategies you can use to jump into the New Year!
1.) Chop It Up – One of my favorite topics is targeting the right leads. Chop up your list into bite-size chunks that follow specific (and recordable) segments. Be it area codes, business revenue size, industry, etc., never even attempt to mail a one-size-fits-all postcard campaign and hope it generates business.
2.) Consistency Rules – Both in the types and strength of postcard campaigns you produce, but ALSO in the follow up, the outreach, and the final product once you’re able to land that new customer. Reliability and consistency go hand-in-hand. Repeating specifics about your product or service in your campaigns generates name recognition and lets your prospects more easily connect your product with their needs.
3.) Become One with Your ROI – Another favorite of mine, the Return On Investment, or ROI, is the best way for you to calculate the cost of your postcard campaign, and to understand the tipping point after which the cost doesn’t justify the potential results. If your ROI shows you can reach 1,000 people with a campaign at a cost of $500, how many sales do you need to lock in to pay for the campaign? Any additional sales after that are gravy (use the profits to fund the next postcard campaign). See where this takes you?
4.) Study the Competition – If you’re going to put yourself in a position to win business from the competition, you need to know them like the back of your hand. Doesn’t hurt to start receiving their catalogues or postcard mailers or direct mail. Are they providing something better, faster, or cheaper than you are? Are their mailings creative and colorful and effective? Would they say the same about yours?
Time flies, so putting some solid thought into approaching the year, the next quarter, or even down to the next month becomes more important. The easy part is you can create a roadmap for your progress by utilizing some or all of those strategies above. There’s no reason to leave anything to chance.
Give us a call at Opportunity Knocks. We have Success Coaches standing by to consult you on the best and most useful mix of strategies to boost your Direct Mail efforts and propel your business into the New Year.