Attribution and the 'Mail Moment' in the Multichannel Mix
At its Sept. 13 meeting, the Direct Marketing Club of New York (DMCNY) hosted an engaging panel discussion regarding the use of direct mail in a multichannel world, and the panelists included representatives from Citigroup, Gerber Life and The Agency Inside Harte-Hanks.
The representatives included Linda Gharib, senior vice president, digital marketing, for Citi's Global Consumer Marketing & Internet division; David Rosenbluth, vice president, marketing, Gerber Life Insurance Company; and, from the agency side, panel moderator Pam Haas, who is both vice president, sales, for agency services at Harte-Hanks (and first vice president for DMCNY), and Michele Fitzpatrick, senior vice president, strategy and insight, The Agency Inside Harte-Hanks.
Hearing from two financial service brands, and an agency that services brands in several markets (tech, consumer package goods, automotive, insurance, pharma and more), packed the house. I'm not sure if it was the topic or the brands who spoke, or both, that was the draw—but the information imparted prompted lots of audience interest and questions.
First, customer acquisition—at least in the financial services area—still appears to be very dependent on mail. At Gerber, Rosenbluth said, as many as a third of new business policies are still generated by direct mail, even as the brand is "omni-channel"—digital (including web site, search, display ads, email), direct-response television, as well as direct mail. For Citi, the brand is positioned No. 2 in the nation by Target Marketing in its "Top 50 Mailers" ranking for 2012 (which is ranked by overall revenue, not mail volume), Gharib said, solidifying its importance in both acquisition and retention.
Fitzpatrick agreed, noting that in financial services, where marketing is modeled most precisely for risk and performance, direct mail remains an acquisition workhorse, particularly on new product launches. For automotive and pharma verticals, however, where as much as 80 percent of transactions are researched anonymously beforehand online, digital media is used for hand-raising, and direct mail may be then used to deliver a brochure of other information in a highly segmented way to close the deal. "Consumer preferences [for media] are situational," Fitzpatrick said.