Generally, direct mail is considered the most expensive way to reach your potential client. I like to think of it as the most effective, if tailored to your specific services/products.
Many business owners have tried direct mail and have been unhappy with the results. Considering that saturation mail is very expensive. Try a new approach for instance. If you are a small specialty store that designs flies for fly fishing, saturation would not be helpful. That doesn't mean you shouldn't create a promotion and awareness through direct mail. We would recommend you still do direct mail but be specific. There are many listing agencies out there that can find the information you need. The information comes from fishing magazine sales in the area or from attendance of trade show etc. The list may only be 200 people in your area and some of them may already be clients of yours. The cost of the list may be as high as .50 cents a piece don't let this scare you away. This is a direct opportunity to put you in front of your target audience. Why spend hundreds of dollars in mediums that do not target your client. The cost to advertise in specialty magazines can be expensive and again becomes saturation of the whole nation. Your clients are right here in Michigan.
Another scenario for you; you have a high end product/services and you want to reach your target audience. Try using a House Hold Income targeted list this way you can be specific. You know that your clients house hold income is over 100k a year, than that is the only houses we target. This simple list will add pennies to your direct mail piece yet save you hundreds of dollars on advertising that would have been sent to the wrong home.
One thing I hear often is we are happy with our advertising. Anyone who is happy with their advertising obviously needs us more than ever. Your advertising portfolio should be updated and tweaked on a minimum of a quarterly basis. The same old advertising becomes stale and even though your business may be prosperous the need to cut costs and become more target specific is vital. How many times have we all tried a medium that was off the wall and it worked, so you kept on using it but after time it stopped being effective. Change up your mediums continue to surprise and delight your customers.
This blog is an opportunity for our clients and friends in business to learn and discuss the challenges of marketing. If you have any comments or would like to discuss a certain dilemma, post it and we will do everything we as a group can to help you solve it.
Friday, May 15, 2009
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Great post I would like to thank you for the efforts you have made in writing this interesting and knowledgeable article.
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