We have all experienced the onslaught of junk mail, but is direct mail dead? Dead? No. Ailing? Maybe.
Still according to the Direct Marketing Association, each $1 spent on Direct Mail made on average $11.65. Now there’s the catch…”on average.” That means some people’s Direct Mail made them nothing and others made them $30 per $1 dollar spent.
What makes direct mail successful?
- I know Mr. Spok from Star Trek is going to turn in his grave but writing emotionally instead of logically will make your Direct Mail more successful. Too many advisers write their direct mail pieces logically. We all know people buy emotionally and then validate the purchase with logic. It is no different with Direct Mail.
- Make sure it has a call to action! If you don’t ask, you don’t get. You should absolutely have some nice personal touches like holiday and birthday cards but you also need to ask them to call or contact you. No Direct Mail piece is complete with out a call to action.
- The absolute best results always occur when the Direct Mail piece is personalized. The best way to personalize a piece is to handwrite a note to them using their name.
We have seen a typical response rate of over 10% with a direct mail piece that contains all 3 items above. We have advisers that have received 52%, 25%, 12%, 18% on individual mailings.
Is Direct Mail dead? Only if you mail out tired, old financial newsletters and such. Be smart and be rich.