Target Marketing

You will be automatically redirected to targetmarketingmag in 20 seconds.
Skip this advertisement.

Advertisement
Open Enrollment | Subscribe to Target Marketing HERE
Connect
Follow us on
Advertisement
 

11 Questions That Make Direct Mail Pay for Itself

January 18, 2012 By Keith Goodman
1
Get the Flash Player to see this rotator.
 

Just like any aspect of your business—whether it's financial, marketing, developing a new product or hiring a sales staff—your direct mail needs to have a plan. This especially holds true in marketing: You are investing your hard earned money (or the owner of your company's money), and you need to get a return on this investment.

Here are some of the things you need to look at to have the highest potential for success.

  1. What do you want to accomplish?
  2. What is a customer worth?
  3. What is your budget?
  4. Who are you targeting?
  5. How will you follow up?
  6. How will you track the results?
  7. What basis will you use to determine success?
  8. What is your offer?
  9. What format will you use?
  10. How will you communicate the program to your staff?
  11. What is the time frame for your program?

Let's look at each of these individually

1. What Do You Want To Accomplish?
This is your strategy! You might be trying to set up appointments to demonstrate a new software program or trying to get your existing customers to come back to your store for a special new product preview. Each approach would have its own unique messaging, offers and, most importantly, financial models.

2. What Is a Customer Worth?
What are you willing to pay for a new customer?

Before you spend any more money on advertising, you need to know this number.

Let's look at an example: If I were to bring a busload of customers to your business, how much would you be willing to give me for each one of those customers? The bus is fully loaded with 64 passengers, and every one of them was prequalified, ready to buy your product or service with cash, checks and credit cards in their pockets. How much would you be willing to pay me for each of those customers? $10, $100, $1,000? Or how about $10,000? Any one of those answers would be right depending on your business model. You need to know your number.

3. What Is Your Budget?
How many new customers do you need get this year and what are you willing to invest to get them? Not only do you have to get new customers to increase your revenues and grow your business, but you are going to lose customers that you are going to have to replace. No matter how good you are at running your business and how much people love working with you, you are going to lose customers that must be replaced. They are going to go to your competitors, they are going to relocate, and some will pass away.

 

Companies Mentioned:

1

SPONSORED CONTENT

MORE ON DIRECT MAIL, PRINT AND POSTAL >>

FROM THE BOOKSTORE

You have a worthy project AND you’ve identified a prospect with means. How do you connect the two in a way that produces a sizable gift? Jerold Panas, America’s premier fundraiser, shows you exactly how in How to Make a Case Your Donors Will Love. Making a Case Your Donors Will Love

You have a worthy project AND you’ve identified a prospect with means. How do you connect the two in a way that produces a sizable gift? Jerold Panas, America’s premier fundraiser, shows you exactly how in How to Make a Case Your Donors Will Love....

ORDER NOW

You know you need to gather donor data. But why? And more 
importantly, how? And even more importantly, what do you do with it once
 you've gathered it? Are you gathering too much? Or the wrong kind?
	This new 
	FundRaising Success
	webinar brings the case-study format of our popular Engage conference 
to an extended, value-added webinar that will dig deep and give 
nonprofits guidance on the best ways to gather and use donor information
 — as well as take the mystery and trepidation out of the whole issue.
	Featuring:
	Page Bullington, Target Analytics; Mazarine Treyz, "The Wild Woman of 
Fundraising and Social Media"; and Roger Hiyama, Russ Reid
	Duration: 75 minutes
	Cost: $19.95AVAILABLE ON-DEMAND UNTIL 9/9/14
	Click here to view this webinar today! Engage Virtual Workshop: Driving Donations with Data

You know you need to gather donor data. But why? And more importantly, how? And even more importantly, what do you do with it once you've gathered it? Are you gathering too much? Or the wrong kind? This new FundRaising Success webinar brings the case-study format of our popular...

ORDER NOW

 

COMMENTS

Click here to leave a comment...
Comment *
Most Recent Comments: