Marketing Plan in 30 Days: Day 27
Today, despite the low cost of email marketing, there is still a following for the old-fashion physical mailers. While dwindling in popularity, postcards, letters and mail ads can be effective. But what’s the real different between advertising with mailers versus emails?
Costs. While sending out 10,000 emails will cost you around $10 with Mailchimp, sending mailers to that same list will cost about $3,000. THAT is truly why brokerages and agents are opting for emails over mailers.
Relative Content. The struggle to find, write and distribute content that relates to the target market is the same for both email and physical mailers. Both can hit the trash can easily, so this needs to be reaserached thoroughly for maximum effectiveness.
Tracking Effectiveness. Have you noticed all the coupon codes on pizza offers are different? They track you just as easily as email tracking. By offering “to learn more at CRELand.net” you can track how many people hit that site – in reality, it’s just redirecting to a page on your “JohnCRE.com” but you’re tracking the effectiveness of the mailer.
Response & Conversion Rates. Here’s where things get tricky. A physical mailer and email campaign have the same average response rate – 10%. However, physical mailers are more likely going to produce actual clients (conversions) while emails may get clicks – but not a lot of follow-up from the receiver.
Open Rates. 90% of direct mail gets opened, compared to 20-30% of emails.
Audience Likes Direct Mail. Our target market of people aged 45-54 are more likely to respond to direct mail pieces. individuals aged 45-54 have the highest direct mail response rate: 14.1%. This makes them a much better target audience than other generations.
Personal Conclusion. I have nothing against direct mail, in fact, I love it. What I hate is the rising cost year-after-year of physical mailers. When postcards were $0.40 for printing, postage and mailing I was all about them. Today, they’re cost has skyrocketed thanks to postage rates and printing, and I’ve become less fanatical about their cost vs. return. Sending 10,000 emails that bomb with 0 responses, won’t break your bank. A $3,000 bust could bring you financial pain. My conclusion – I’m sticking to email.
On to Day 28: Deciding on a budget (not written yet)