Are You Marketing the Wrong Way?
Here’s an excerpt from a recent conversation with a client during an intake session for the development of a strategic marketing guide…
FIA: What marketing have you tried in the past?
Client: We’ve done postcards. They didn’t work.
FIA: How many times did you send out your postcards?
Client: I’m not sure….one or two times.
FIA: And how many people did you mail to?
Client: We sent out a few hundred each time. Got nothing.
FIA: And who did you mail the postcards to?
Client: We put a list together – prospects that we have never done business with, people we met at chambers a while ago.
FIA: How old was the list?
Client: Maybe 5 years old…
This is an example of a marketing tactic that was not used properly. The chance of success in this scenario is very low, as the client reported.
We are quick to rush to judgment that when something doesn’t work, it must be the fault of the tactic. But it’s important to understand the capabilities of the tool you’re using, and also understanding how to use it. In the above-mentioned case of direct mail, here’s a few how-to’s that could have turned this around:
- Get a good list. “You’re only as good as your list” is a saying among marketers. An updated list with the right contact info is the #1 priority
- How big is your mailing? Direct mail is a numbers game. You can expect to get a return of 1-3%, and half of that should convert into new business. So if you mail out 200, you can expect a return of 2-6 responses. Increase your mailing to 5000 names, and your rate of return increases to 50-150.
- How many times? The rule of thumb in marketing is that it takes 14 ‘touches’ to influence a prospect. So if you send out just one mailing – it’s likely that the recipient won’t even remember seeing it. A minimum of three times within 3-6 months is a good rule to follow.
- What’s it look like? Does it look professional or like a 3rd grade school project? (no offense to 3rd graders!) Does it have a clear message, an incentive, and a reason why a prospect should choose you?
There are over 250 marketing tools available today. Finding the right tools for your business can be a challenge if the instructions are not clear.
To find out more about the marketing tools your company should be using, contact us today for a complimentary 30-minute consultation.
