If you’re new to the world of direct marketing then be prepared to be blown away! This type of marketing has the potential to literally double your sales without any extra effort.The funny part is that almost every single business out there can be helped greatly by direct marketing. If you don’t believe it then just look up some direct marketing case studies.
Case Study: How Effective Is Direct Marketing
For example, one bank used direct marketing on their top depositors as well as handing out postcards in credit union lobbies which contained extremely targeted leads. Their original goal was to achieve one million dollars in CD deposits but they surpassed those meager expectations. After all was said and done, they looked over the records and found that not only had they doubled their goal, but received $5.3 million dollars in deposits for their increased CD rates. Do you want to know how they were able to successfully pull it off?
Targeting Is the Key to a Successful Direct Marketing Campaign
The successful marketing campaign of the aforementioned bank may seem like a monumental amount of success with direct marketing, but there is still more. The bank only used five thousand postcards to attract this massive amount of new business. They bought a list of twenty four hundred consumers that might be interested in great CD rates but the most important thing is that they also used a list of their top depositors to increase the conversion rates. Better yet, they also took the remaining postcards and handed them out in the lobbies of two credit unions. All of their leads were highly targeted so the conversion rates were maximized since most of the people that received the cards were already interested.
Targeting Your Direct Mailing Campaign Is the Best Way To Turn Potential Leads Into Customers
If you sell annuities and they’ve increased their rates then you would take your top depositors and create a list of people that have already invested into an annuity. You may also want to go to places where people are interested in investing in an annuity.
Let’s say you own a retail store. You should start by offering specials sent by mail to customers who fill out their name and address on a form. Then once you have a decent sized list, start sending them out specials by mail as a form of direct marketing. This will seriously bring in returning customers that may never have gone back to your store. Use the secret to success in the retail industry: Customers that shop retail are always looking to find the best deals, so use a slightly lower profit margin and direct marketing to lure them in.
Can Direct Marketing Help With Converting Customers?
Converting customers with direct marketing is a hit or miss if you don’t target a specific segment. If you just try to send out ten thousand emails to completely random people, the chances of converting a customer are slim to none. Most of the people will probably just chuck it in the can if the mailing campaign doesn’t target them.
However, if you take a targeted list of previous customers and offer them something unique that your competitors aren’t offering, they are highly likely to show interest in receiving more information. If you like fishing and a company sends out a new mailing campaign that advertises their new unbreakable fishing line to test out then you’ll probably follow up on that offer. So businesses try to give special deals or unique products that most of their competitors can’t offer. This is called differentiation.
Conclusion: Which of the Following Best Represents Direct Marketing?
Direct mailing, social media marketing, or anything that allows a business to directly reach out to a potential customer is a form of direct marketing. Just remember that you need to target your potential leads as much possible. Use this form of marketing to differentiate your products and services from others in the industry, and offer incentives for customers to visit.