Measuring the Return on Your Direct Mail Investment
In direct mail lore, there's a rule stating that you can measure the success of your efforts by a minimum response rate of 1-2%.
In other words, if you send out 10,000 pieces, you'll have a successful mailing if at least 100 recipients respond to your offer. (One percent of 10,000 is 100.)
That's one view of direct mailing success.
Permit me to offer a different perspective: one from the small business world. Specifically, I'm referring to those small business people who work by and for themselves. Call them "One-Man Bands," "Working Soloists," "Free Agents," or whatever you'd like.
To help you remember these two perspectives, let's give them a couple of catchy names:
1. The "Playing the Percentages" Perspective. This is the "industry standard 1-2% response rate on your mailings" perspective you've heard so much about. This is the yardstick favored by businesses that are sending large quantities of direct mail to sell mass market products.
For example, if I own a pizza parlor, and I'm doing a "use this card for 10% off on your next order" mailing to all residences within a three-mile radius of my business, I might have a mailing list of 10,000 names.
You'd better believe that I'm going to watch the overall response rate like a hawk, and I'm going to be looking at precisely where those hungry customers are coming from. If most of them are coming from a handful of apartment complexes next to a college campus, I'll know to send my future mailings to those complexes.
2. The "You Only Need A Few" Perspective. This is the one for those One-Man (or One-Woman) Bands who are selling services that take a fair amount of time to provide. Like marketing consulting, public relations services, graphic design, or customized computer software applications.
For these folks, a handful of new or repeat clients from a promotional mailing is quite enough. After all, as the owner of a one-woman graphic design studio told me once, "I don't want to be a victim of my own [direct mail] success." Martha Retallick, "The Passionate Postcarder," hails from Tucson, Arizona, USA. She is the author of Postcard Marketing Secrets, a downloadable PDF manual that will show you how to put postcards to work for your business?profitably. Learn more about it at:
http://www.PostcardMarketingSecrets.com
Related News
|
 |
|
|
RELATED ARTICLES
Receiving a Brochure Printing Quote
Brochures are a great way to get your message across. While having a brochure can be extremely useful, it is sometimes hard to know whether it is affordable. The price for brochures can vary widely, with many variables contributing to the final quote.
Todays Definition of Marketing. Has It Changed?
With the continued proliferation of the Internet, the meaning of the word "marketing" also seems to proliferate. Cyberspace has opened up a whole arena of new marketing technologies, techniques, and twists. Amidst the online exuberance, it seems each online marketer or salesperson changes the definition of marketing to suit his or her preference.
Trade Show Promotional Products ? Boosting Booth Traffic
I was about seven or eight years old when I learned the value of promotional items at trade shows. I just didn't know it yet. I was at a home show with my parents. As we walked through the hall it was held in, I noticed people walking around with yardsticks. I really had no need for a yardstick, but seeing them made me want one. So, to make me happy, my parents kept an eye out for the booth passing out the yardsticks. I got my yardstick, and my dad got a deck from the contractor who was passing them out. I use that example to paint a picture that promotional items can and do work at trade shows- although the target audience usually isn't a third-grader with a $10/week allowance!
Creating Your Own Lead Capture Pages
Having a downline can be golden. A downline is a group of folks who have either signed-up or have already agreed to at least look at what you send them.
How To Get New Business
Market, Market and then market some more. So many small and home-business owners do what we call spot marketing. They market hard for their business, get a response then stop marketing.
How Testimonials Can Put You in the Spotlight
If you need evidence that a testimonial or referral can help you, let me tell you a personal story:
How to Connect Features and Values
"Buy this magazine or we'll shoot the dog," went a memorable cover for the satire magazine National Lampoon many years ago. On the cover, along with the threat, was the picture of an attractive dog with large sad eyes - and a pistol pointed at its head!
The Future of Marketing Part 1
It used to be if you were a small business, you were at a
distinct disadvantage with your marketing compared to the
bigger companies.
10 Ways to Get Your Flyers Noticed
An inexpensive way to promote your services is to createvarious flyers and distribute them wherever you go -- pinthem to the bulletin boards at the library, bookstore,handout out at networking events, or playing tennis. Hereare 10 tips on how to get your flyer noticed and remembered.
8 Instant Ways to Create Consistently Successful Marketing Campaigns
It's almost a given that when I speak to a new client, she tells me how much she's always hated marketing herself. "I'm no good at it" and "No matter what I try, it doesn't work" are common complaints.
Sell More Online By Offering a Big Fat BONUS!
I don't know about you, but I secretly love watching infomercials. I enjoy dissecting how they sell, how they get people excited, how they entice people to take action now and pick up the phone and order something they completely don't need!
Open Doors by Building Relationships
"You can make more friends in two months by becoming interested in other people than you can in two years by trying to get others interested in you." - Dale Carnegie -
How To Bond With Customers So That They Stay With You Longer
How many of your customers are loyal customers? More importantly do you know why they are loyal customers?
Take The Test: Does Your Marketing Copy Sell?
Your marketing materials must grab your prospect's attention long enough to
convince them to investigate further. Assuming you get past this hurdle, your
piece's message must next convince the reader to call or buy.
PowerPositioning: WillYouAcceptThisRose.com
Positioning is a powerful concept in marketing. To illustrate, have you ever visited a fast food restaurant, and, in a rush to complete your order asked for a coke when you "perhaps" meant to order some other soft drink? The Coke brand and its owners have achieved a top of mind awareness. Their brand name has become synonymous with a commodity that has a strong demand. A lot the brand's success may be attributed to being the first successful soft drink on the mass market, other possibilities may be due to their perpetual multi-million dollar global marketing campaigns that span life-times as well as cultures. Whatever the cause, the Coke brand has a very successful & fortified position.
Principles of Marketing 101
Marketing results should be measured in only one way ? increased sales. Marketing should not be considered an art form. Its mere existence is not enough. Marketing is the first step to the sale. There are seven underlying principles upon which to base your marketing strategy and efforts. Follow them and your business will be a raving success. Violate them and you will fail as so many small businesses do.
Is Your Marketing Working...
That is the question, you should be asking yourself. Many feel that it is I'm sure. But is it really!
12 Lessons I Picked Up from Attending Seminars
So you just dropped a tidy sum to attend a seminar or some other three-day event. Now it's over and you're exhausted. Your client work is backed up. You have a fistful of business cards to connect with. And your family would like some face time. Time to get back into the swing of life, right? Wrong.
Top 10 Dos and Donts for an Effective Business Referral Network!
Every business - particularly small, entrepreneurial or professional businesses - must have a powerful referral network. It is very unlikely (and terribly expensive) to "advertise your way to success". Without tons of capital, it can't be done. It is far more effective, and more fun, to create an effective network that sends you clients, supports your business, and makes you money. Unfortunately, most professionals confuse effective networking with passing out business cards and schmoozing. They are NOT the same. Here are my Top 10 Tips for a network that will help you build your business.
Ten Amazing Ways To Increase Attraction at a Trade Show
These ideas are for anyone that has a small budget to work with or is just starting to expand into exhibiting at trade shows.
|
