Showing posts with label Marketing. Show all posts
Showing posts with label Marketing. Show all posts

Tuesday, July 30, 2013

Getting Started With Direct Mail Marketing


Contrary to popular belief, direct mail marketing is still a highly effective platform of advertising, especially when it is well strategized and executed properly. Recently I had the chance to speak with the professionals at Ritter's Communications and Printing in Miami and they gave me some pointers on how to best leverage direct mail for a law firm or other small business. Direct mail marketing allows businesses and organizations to communicate straight to current and potential customers, and provides the company with measurable responses.

Whether you’re a small business owner, or a larger company looking for a different platform in which to reach out to your customers, we’ve put together a guide to help you understand the ins and outs of direct mail and give you the information necessary to create a successful marketing campaign.

The first step in your journey is to set objectives and plan your approach. These steps will help you to determine whether direct mail is the best platform for your campaign. You also need to determine what you want the campaign to achieve. Do you want to create/raise brand awareness? Or do you want to market a specific sale/promotion?

Next, you will need to determine your target audience.  Answering a couple of questions will help you determine the correct audience to target with your campaign. These questions include: Who is your buyer? What is their age? What is their marital status? Where do they live? Where do they work? What is their level of education? You also want to answer questions about their buying habits. Do they shop online or in-store? When do they buy? How often do they buy?

If you plan to use an in-house database for contact prospects, make sure the list is more than names and addresses. You want to report each prospect's transactions, interactions and responses. Gathering information and researching specific patterns will help you to segment your target audience even more. Surveying these segments through phone interviews or online surveys will help you to learn about specific interests, tastes and experiences.

If you use a rented list or purchase a list from a broker, make sure that it is compliant with the Data Protection Act. Often, lists acquired from brokers are segmented quite a bit, speeding up the process of determining your target audiences.

Now, you need to set a budget. The cost of your direct mail campaign will vary, depending on a number of factors; the number of people that you intend to reach, whether you will use an in-house database of addresses or if you need to purchase a list from a broker, whether or not you will have an in-house team produce the creative, size, shape and quality of the piece, and how personalized it will be. You also need to consider postage costs, and other expenses such as labor, etc.

Next, you will need to produce your direct mail copy. Make sure that your copy includes a strong message and a call to action.  High quality direct mail is packed with relevant information that is strongly written and 100% accurate. Be sure to proofread for grammatical/spelling errors and typos. You also want to entice the customer with an irresistible deal or a call to action. NEVER forget this step! Clearly state to the customer: what they should do(call, register, order, visit, etc) why they should, how they can and by when.

After you’ve created your copy, you should test your campaign on approximately 10% of your overall intended distribution list. The result of responses will help you to determine if are targeting the correct audience.  Changes can be made to your campaign or target demographic to better customize your plan.

The final step in this beginning process is to execute your campaign and track your results. One of the biggest benefits of direct mail is that you can easily measure the effectiveness of your campaign. Mailings that include an offer are especially easy to measure because response rates can be directly tracked through purchases or redemptions of an offer.

Other tips:
-Integrate your entire business strategy into your piece by reinforcing other print or media campaigns.
-Ensure brand cohesion by making sure all elements (logo, colors, etc) are the same each time it is printed and sent out.
-Find a steady frequency. Direct mail campaigns will not be successful if the audience only receives a piece from you once, or if they receive multiple mailings at an inconsistent rate.
-Follow up with your customers. Drive them to other platforms, such as websites, blogs or social media channels and keep them engaged.
-Address price concerns by offering an “opt-out” option.

It is up to your business to create exciting and engaging material, but these steps and tips offer you a strong framework for building and executing a successful direct mail marketing campaign.  Good luck!

Monday, November 12, 2012

Turning Off The Money Conveyor In Supply Chain

Social Media Marketing Spend to Hit $3.1 Billi...
(Photo credit: Alyssa & Colin)
The seasoned sourcing and category experts at a conveyor systems and logistics management firm would add an additional strategy to the list — apply proven strategic sourcing and disciplined compliance approaches to new spend categories.

One spend category ripe for reigning in this year: marketing. My new teammates put it this way: “Marketing organizations are under constant pressure to find innovative ways to promote their brand. And they must carefully balance their investments across print, online and broadcast channels. With budgets typically very tight, CMOs must identify the right mix of programs and work closely with their peers in procurement to maximize their investments and the returns they generate.”

Indeed. As a new-age marketeer, I am all too familiar with the bullseye enterprises place upon marketing spend. (If I had a penny for every time my former CFO reminded me tat “Marketing is the single largest controllable expense at our company,” I’d be a very rich man.) Having been on both the purchasing and marketing side of this equation, I also understand that supply managers looking to target marketing spend will need to educate themselves on various marketing channels and buying patterns. They must also become fluent in the language of their CMO and marketing managers.

Most marketing types will shut you off if you lead by telling us how much money you can save us. However, if you can demonstrate how you can reinforce brand integrity, speed the turnaround of marketing and print programs, and help me drive more programs from my existing budget dollars, you have my attention.

Here’s a sneak peek at recommendations on how to cozy up to the CMO to control marketing spend:

1. Get a grip:
The key to successfully sourcing marketing spend lies in understanding the unique requirements and concerns of key stakeholders and developing an integrated approach to address them. Be sure to allow stakeholders to communicate their needs and be willing to make the trade offs necessary to drive savings without sacrificing quality.

2. Remove the fear factor:
Demonstrate how cost-efficiency and quality can co-exist and increase the value that marketing delivers through re-pricing and aggregating vendors, re-defining specifications, formalizing processes and tying them to contract compliance, and increasing collaboration with key suppliers.

3. Educate:
By outlining the value and opportunities created by effective spend management - for instance, money saved can be used to fund additional projects - you can gain the buy-in needed to drive your program on an enterprise-wide basis.

4. Customize your approach:
Marketing projects have unique requirements that must be taken into account when developing strategic sourcing events. By adapting your approach to account for their nuances and allowing suppliers to outline their creative capabilities, you can adequately compare price and non-price factors to make optimal decisions that align with and advance both marketing and overall business goals.

5. Look beyond technology:
When it comes to effectively managing marketing spend, software alone is not enough. By leveraging solutions that combine technology, commodity expertise and services, you can more effectively compare suppliers based on unique characteristics and make optimal sourcing decisions that lower costs while increasing quality.