Is Direct Mail Really Dead?

LinkedIn Question:

Why do people think direct mail is dead. It's not! Comments?

My LinkedIn Answer:

"Direct mail is dead" is probably just too bold a statement. In reality, a complete and integrated companion marketing approach works best - utilizing a variety of venues to market your message - including direct mail, email, internet marketing, social media, etc.

I think this topic has been stirred a bit by the interpretations of an NPR article noting that the USPS is seeing less mail due to the economy. In the article, the Postal Service’s Senior VP of Customer Relations, Stephen Kearney, states:

"Our mail volume had its greatest decline since the Great Depression… We may have losses (revenue) that are larger than the $2.8 billion we had last year."

Source: http://www.npr.org/templates/story/story.php?storyId=99027132

Those looking to make their case may be misdefining "mail volume" as only direct mail pieces. But Americans are sending fewer packages and letters via USPS for a number of reasons, i.e. - the economy, email, availability of other carriers, etc. To twist USPS’ declining revenues into proof that direct mail doesn’t work is misguided.

That being said, however, I do feel the efficiency of direct mail has declined in the face of online inbound marketing tactics.

Here are some of my DM cons which has inspired me to ramp-up Web 2.0 activites and email marketing campaigns.

• Direct mail is often considered to be junk mail. Seldom does a one-shot mailing have the desired result. You must have a long term, well thought out marketing plan.
• Your piece is competing with dozens of other pieces for attention. If you don’t know what you are doing, it is easy to waste a lot of money.
• There is a relatively high cost per contact.
• It may be difficult to obtain updated, accurate mailing lists.
• There’s no data. Direct mail does not offer real time data like internet marketing campaigns can.
• Too many cheaper, more efficient options.

If you are moving forward with a Direct Mail campaign, I can only endorse it when done correctly, and that means including drivers to that next action step.

But beyond that I'd also advise to determine who you want to reach before you develop your direct mail program. This allows you to specifically target your message to fit specific needs. It is the best advertising medium for customizing your appeal. With improved database resources and demographics, you can effectively precisely target the prospect you are aiming at.

Also, carefully plan your package content, its design, and its message. Remember to attract the reader’s interest, it must be clear, concise and easy to respond to. Can't stress it enough... INTEGRATE... coordinate your mailing with other advertising methods to significantly increase your return. Also, presenting one specific offer instead of a variety of options is usually more effective.

Finally, figure out a way to diligently test and track your campaigns. I recommend the Direct Mail Marketing blog at marigoldtech.com for some tips on calculating DM ROI:
http://www.marigoldtech.com/blog/index.php/archives/calculating-direct-mail-roi/

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jenniferpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

Cold Calling, Email Marketing and Lead Generation

LinkedIn Question:

Apart from Cold calling, what needs to be done to get more number of clients?

My LinkedIn Answer:

With all of the online marketing tactics available these days I do find cold calling less and less effective.

In as previous post, I have cited some statistics comparing the efficiency of cold calling to social networking (http://jenniferpriccimarketingstrategies.blogspot.com/2009/01/networking-plays-important-role-in.html#links). Social networking wins hands-down.

In the meantime, if you're going to use cold calling for lead generation it is important to sharpen your strategy...

• Use a top down approach
• The executive assistant is our ally
• “Be people with people”
• Standardize all leads regardless of source
• Start with a great database
• Script your introduction & create a calling guide
• Write a voicemail script
  
  NOTE: On average 20% contacts in a database change annually.

In addition, it is imperative to make the most of each call...

• Confirm the decision maker
• Find other players in the decision making process
• Gather basic information (eMail is critical)
• Start to talk about basic needs and concerns
• Leave your website address on voicemail messages
• Use phone and eMail combination
• Send an eMail follow-up

Regarding the last two points above, using an opt-in eMail marketing campaign can be a great way to generate leads and sales.

1. eMail is cheap. Which is why spammers love it. They don't care whether response rates are low because their costs are negligible. If you want to reach a large number of people and if you have access to a solid, opt-in list, go for it. A test sure won't cost you an arm and a leg.
   
   
2. eMail is fast. In two senses. First, your production time is minimal. As soon as you get an idea to test, you can write a motivating email, and hit the send button. Second, your prospect gets your email instantly so responses can start pouring in within minutes. Speed, from start to finish, means you can be a super-agile marketer.
   
   
3. eMail is a fabulous testing medium. As a result of the speed I mentioned above, you can get virtually instant answers to your marketing questions. Is a cross-sell offer going to be a winner? Send a group of prospects an email and you'll have an answer. Have you written two great headlines but can't decide which one to go with? Do some email testing and get your answer fast!
   
   Downloadable fulfillment pieces are instantly accessible. For example, if you're offering prospects a White Paper filled with valuable information, they can click through to your landing page, fill in a little qualifying information, and download your White Paper in under two minutes. The fact that they don't have to wait long to get their free fulfillment piece boosts response rates.

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jenniferpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

Cold Calling or Social Netwoking

LinkedIn Question:

Which is more productive in generating new sales:
8 hours of cold calling
8 hours of social networking

My LinkedIn Answer:

RIP Cold Calling

Cold calling has been served notice, a new era beckons and with it an altogether different way of working. Social networking has arrived and will soon replace cold calling as the predominant method of prospecting in business.

I know many people will think that there is no replacement for activity, specifically picking up the phone. Yet, no matter how intelligent you are about cold calling, it is what it is – speculative, scatter gun selling, not to mention costly and increasingly ineffective.

Consider the following data I found online:

In a test which spent an equal amount of time cold calling and using social media (9 AM - 5:30 PM; M - F):

Cold Calling Results

Outbound calls made 325
Meaningful conversations (pitches) and brand touches 80
Meetings made 4

Sales made (as a direct result of cold calling) 0 These are average conversion ratios for time spent but it comes with much overhead.

Social Media Results

Inbound calls generated 8
Meetings as result of inbound calls 3
Sales as a result of inbound calls 2
Brand touches (from site statistics unique views of content) 422
Visitors to sales associate's blog Subscribers (RSS) to sales associate's content 27
People following sales associate's Twitter 12
New contacts 71 (on LinkedIn, Facebook, WeCanDo.BIZ, etc)
Listeners to sales associate's Podcast 83
Opportunities to sell found 21
Online conversations had 39
Warm call list (names generated expecting a call) 11

The cost of the social networking blitz to find new business opportunities, other than time and internet connection are small, if anything at all. Most importantly 2 sales were closed, covering any cost associated with the activity and generating a very healthy return.

The central question, however, is do modern-day sales people have the level of skill required to conduct a social media campaign individually? The simple answer is no. Not all salespeople will have the necessary skills, but having a skills gap is nothing new on the sales floor otherwise we wouldn’t have the multi-million pound training industry!

Can the skills be taught quickly and cost effectively? Yes. I have always taught people that sales is a process: follow steps one through five to achieve your aims. Social media networking can be processed as well, giving salespeople clear guidelines on the ‘how to’ and ‘how not to’. We spend millions every year teaching salespeople to cold call better, use the latest CRM (customer relationship management) system, be better team players and so on; and so it must come to pass that companies will need to train all staff to be ‘social media savvy’ as it extends far beyond just sales – marketing and service need to be in on the picture as well.

Naysayers?... Agreed, updating your Facebook or MySpace page with pictures of the weekend, playing silly games, nudging or poking other people is not the best use of your company’s time. But creating engaging, thought-provoking, discussion-opening content, centred around your products or services is.

Social media networking will reduce dependence on cold calling. I am not saying it will eradicate the need for the telephone – that perhaps is to bold an idea. But I am certain it will become the first step in prospecting for new business.

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jenniferpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

Expert Knowledge in Event Marketing

LinkedIn Question:

I am currently working for a start-up that has launched a remarkable 3D display solution (without glasses) as a new marketing channel. We are looking to partner w/ event marketing agencies and I am helping the company devise a go-to-market strategic plan. I would like to get a better grasp of the event marketing agency industry, the different players involved, key challenges faced, and decision making process when adopting new technologies. If you are an expert in this field or know someone who is, I’d appreciate an opportunity to learn more about this space from you or your connection. Thanks in advance.

My LinkedIn Answer:

As an Event Marketing professional I highly recommend Event Marketer Magazine, the Event Marketer website (www.eventmarketer.com) and other Red 7 Media publications (i.e. BizBash... a whole NEW world of prospects) to learn more about the heavy-hitters in this field.

For their top 100 Event Marketing Agencies of 2008 visit:
http://directory.eventmarketer.com/agencyitlist/home

I also recommend checking out those agencies that specialize in branded entertainment and sponsorship activation:
http://directory.eventmarketer.com/agencyitlist/results/Sponsorship+activation+-+execution

Finally, for a thorough Event Marketing Agency list visit:
http://directory.eventmarketer.com/cat/Agencies

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jenniferpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci

Action List to get New Business

LinkedIn Question:

Time to reboot. If you were to write a action list to get new business beginning tomorrow - what would you write?

My LinkedIn Answer:

Here is a FUN exercise that I have found successful in getting new business.

There are FOUR graduating steps that are part of every sale:

1 - Get a lead, referral or introduction to a decision maker
2 - Get an appointment with a decision maker
3 - Complete a CNA with a decision maker
4 - Get a comitment to a close or to an action that leads to a close (proposal/estimate)

Assign one point to Step 1, two to Step 2 and so on...

Work toward getting TWENTY POINTS a week in ANY combination.

On the top of your daily to-do list put GET 4 POINTS... don't wait until Friday to try and get 20. If you tally 4 POINTS PER DAY you will never run out of prospects, your pipeline will always be full and you will become a RAINMAKER!

Jennifer Pricci
New York Based Marketing Talent For Hire!
jennifer.pricci@comcast.net

View my resume online at http://tinyurl.com/jenniferpricciresume

Read my recommendations and link with me at www.linkedin.com/in/jenniferpricci