Direct Mail Made Quite a Few Buck$ for Mortgage and Financial Firms When Mailing to Customers and Prospects…

Direct Mail Made Quite a Few Buck$ for Mortgage and Financial Firms When Mailing to Customers and Prospects…

Companies in banking, mortgage, financial companies, and the federal government widely chose the direct mail marketing channel of communications for its dependability in deliverability to the right person or company. Right or wrong? 

According to recent research data from 2019 on the mortgage, banking and the financial industry, most firms provide a variety of financial products. They use an assortment of marketing strategies and advertising tactics, provide yearly sales figures, and what their market share is for the US markets.  

Yet, most of these financial institutions, however, have been slow to return to direct mail marketing tactics, mostly due to “the existing perspectives of how things should be done.”  

Maybe direct mail marketing for mortgage and financial firms is like face-to-face advertising for other companies?

Not long after the emergence of a digital marketing strategy, many industries had jumped on board the digital highway, embracing these new channels. However, in the mortgage and financial industry, the benefits of this the new medium created some confusion. So, many firms in the industry held back, and continued to use the marketing tactics that worked for them in the past.   

This industry was always rather conservative and unwilling to experiment with new and possibly unsafe technologies. Plus, it’s highly regulated. In fact, fewer than 15% of this group is using some digital marketing strategies, which are much lower than other industries. Considering their role in previous financial depressions, it’s quite logical. Customers felt it violated their trust.   

Why not try a direct marketing mail channel using certain segments of your customers and prospects? 

What’s your product? Is it more male or female? If you know how many of each sex or type, why do they make a purchase? 

Getting back to mortgage and financial companies, they already have a lot of information about their customer marketing needs. Probably the biggest need when filing for a mortgage is they need to know a customer’s salary, what is owned in their savings, how they use credit cards and types of insurance they purchase. Theye can find all this and other information in the target markets they build.  

Take another tip from the mortgage and financial sector.

Create trust-building strategies in unison using direct marketing mail, on the company website, social media posts, a blog or build one if one does not exist, or just about any communication channel you used to reach customers and prospects. 

One of the best channels you can use today for trust and readability remains direct mail. Direct mail today gets a 95% whopping delivery rate. As a bonus, if a person in your data moves, that information is forwarded to you to change your records. 

Social media can also be a gold mine. People who post can say a lot and some of this may be wise to determine how you can dissect how much of the discussion is useful in a marketing test. Keep in mind there are a few too many scammers on some of the social channels. 

I build successful customer relationships on trust, and if you set that as a goal of measuring the data from the direct marketing mail or other advertising communications for your company, expect to be compensated. Any company can tout exceptional service, but only a few can deliver. Why? Trust between organizations and people can be expected, but trust is earned.  

Find out more on how to use direct mail marketing in the digital era. 

Speak with one of our community members serving the mortgage and other financial companies. They can help you get on track with your marketing advertising.  

According to the data collected in 2010, it takes 2.7 channels (email, radio, social media, etc) to connect with a contact. I could not locate a recent update, but I am sure it is now higher. If you still only use one channel to connect, you need to consider selecting a few other segments your contacts prefer.    

There is an old saying in direct marketing: test, test, and test again. It is also helpful when you start channel selection.   

If you would like to see a simple segment for a simple small retail business, use a quick pic click now.

Marketing and Sales Innovation

Small Businesses Served

Marketing and Sales Solution Providers Created

Years Of Experience

Please share with others–except your competition!

Direct marketing copy is like a puzzle.

Sharing my time with you is not over at the end of a post. There are many ideas I experienced in owning a small business. My ideas about using and writing direct marketing and customer-centric copy are from my experience as a small business owner and a marketing entrepreneur in marketing, advertising, and selling content, articles, reports based on my philosophy of people learn by reading, then learn by doing.

Please join our Direct2Customers Marketing Community today!

This is what I do and what I love to do.

Thanks again for reading. Questions?

Mdoc@direct2customers.com or 800-251-3608

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Proven ways to increase customers and take your small business to the next level

Proven ways to increase customers and take your small business to the next level

I created question-and-answered marketing modules that are closely connected to accomplish overall goals for your company and customers.

I ask many questions. Share examples. Ideas are shared. It is a conversation. We both learn and understand about each other.
What is in it for you? A FREE E-book? Better business? Organization? Leadership? Success?You need to answer as many questions as possible. Why? My goal is to help you.

As I see how your questions are answered, I can provide content to you which can lead to solving a problem or two...

that are beneficial for you, so we can get you the best free content and the advice you need to succeed.

 

 

Plus, when you JOIN our community today...The first 10 companies that join, receive a FREE copy of my 6th edition Custom-Made Marketing E-book. (Expires last day of spring.)

Ready for a challenge?

How about building a Grade A marketing and/or selling model?

In the following four panels below are eighteen brief questions and twelve questions that will need a paragraph or two of your answers from each question. The more company info you can add to any of the questions is entirely up to you, but highly recommended. When we meet and discuss the questions, we both will pass on other information back and forward. This has always been one of the major successes of helping companies like yours.

The questions are also on a landing page.

OK, start building your list

and don’t forget to

send it to me via email.

You are on the clock!

  1. Define your product or service. Corporate marketing mission statement. Company goals.
  2. Did you use marketing research and analysis of your marketplace?
  3. What is the how and why customers buy?
  4. Do you have customer segments based on their buying habits?
  5. Your development of strategies, planning and advertising programs to profitability meets the needs of different segments.
01

What do you know and wish to

know about your marketplace?

  • Why do customers come to you and not competitors?
  • What common characteristics do they have?
  • List the benefits of importance to your customers.
  • Examine the marketplace’s wants and needs. What is a fit? Not a fit?
  • Examine your own strengths and compare these to your customer needs and wants.
  • Analyze the strengths of various competitors?
  • Do you try to be on the ground-breaking of industry trends consistently?
02

List advertising tools and tactics that you use.

If so, send samples. Such as;

  • Sales letters.
  • Sales visits.
  • Qualifying prospects.
  • Sales presentation.
  • Handling objections.
  • Closing the sale.
  • Follow up scripts to close a sale.
  • Customer databases or CRM.
03

What channels of distribution are you

using for marketing, advertising, and sales?

  1. Email.                     7. Brochures.
  2. Post cards.             8.Newsletters.
  3. Landing pages.      9. Blog
  4. Website.                 10.Digital.
  5. Social media.
  6. Posts.

Marketing and Sales Innovation

Small Businesses Served

Marketing and Sales Solution Providers Created

Years Of Experience

Custom-Made Marketing E-book

All the requested information above is from our Custom-Made Marketing E-book. It is a program I started building shortly after I started writing my small business and marketing plan in the Mid-eighties.

The book has a unique set of questions and facts for equipping your marketing tools to help you build a better business. I call it a custom company marketing and sales plan. All is based on your vision, teamwork, and your best customer experience. We’ll provide the fuel.

I created a tour of the E-book, so you can learn more about each module, and how Kristen, a small business marketing manager, got on board to help her boss get more business. Just follow the purple arrows on the left of the page, pointing downward after clicking on this page link.

The slide presentation reads like a walk-through on how to increase your efficiency of marketing, advertising, and selling using the first Module, A Situation Analysis, with thought-provoking questions, to get a better understanding of a company like yours in marketing, selling and other business operations. Check out the E-book table of contents on the second slide in the presentation.

Here’s An

Exceptional Special

The slide presentation is a conversation between Kristen, an agitated marketer, and the MarketingDoc, the author of the E-book, who will help her get answers from the questions in the “Custom-Made Marketing and Sales” E-book, A Situation Analysis.

Kristen’s goal is trying to find the right combination of promotions and advertising tools to increase audience response and creating more sales. In this back and forward learning experience we both understand more about the company and management team and ideas generated and discussed. These are questions that make people think while using examples and thought-provoking ideas from both sides.

There are 18 modules, and 75 pages in our E-book. I invite you to read each slide in the presentation. Each slide is less than 30 seconds reading time.

Module number one, Your Situation Analysis, is available in a free download in the slide presentation. I will give a FREE question and answer session of the Situation Analysis module with recommendations to improve your marketing and sales. Plus, I’ll toss in a free copy of Custom-Made Marketing E-book, a $79.00 value, upon completion of the module.

EXPIRES ON THE LAST DAY OF SPRING!

Here’s how to enter our free e-book, Custom-Made Marketing drawing.

Send your name, email, with “Module One Drawing” to Mdoc@direct2customers.com. If you are in the top 10, we will send you an email if successful.

If you are successful, here’s what happens.

I’ll interview the 10 companies to complete Module One.

This is a FREE question-and-answered session of the Situation Analysis module.

Once the Situation Analysis are completed and you were in the requested top ten, we’ll send you a copy of my E-book, Custom-Made Marketing.

MarketingDoc

Please share with others–except your competition!

Direct marketing copy is like a puzzle.

Sharing my time with you is not over at the end of a post. There are many ideas I experienced in owning a small business. My ideas about using and writing direct marketing and customer-centric copy are from my experience as a small business owner and a marketing entrepreneur in marketing, advertising, and selling content, articles, reports based on my philosophy of people learn by reading, then learn by doing.

Please join our Direct2Customers Marketing Community today!

This is what I do and what I love to do.

Thanks again for reading. Questions?

Mdoc@direct2customers.com or 800-251-3608

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Seven Insights Why Your Marketing and Advertising…

Seven Insights Why Your Marketing and Advertising…

are hurting your goal attainment.

History Repeats Itself

cannot meet your goals

ONE. Your approach to marketing was not unique. 

TWO. No matter how great your product or service is, the fact remains that those who “need to know” need to be aware of what you offer.

THREE. Not using or a poor handling of prospect and customer data.

FOUR. Not any or not enough customer and prospect data collected or analyzed. 

FIVE. Not tracking and collecting customer data from your marketing channels – such as emails, social media, and your website. 

SIX. Lacking a multi-strategic marketing approach.

SEVEN. Your marketing and advertising communications are not beneficial to your customers.

The biggest reason in building my list of seven insights started when people find the next wonderful thing in marketing, sales, and advertising to bring in more customers. For example, our first one was the introduction of direct mail. In the 1950s, advertising direct mail flourished because everyone had a mailbox.

Then color television hit the scene, followed by transistor radios. More channels entered the market. Contact management software was a sure hit. Next was data management, the WEB, social media and on and on.

What happened next?

If you are a mailer and guessed competition in the mailbox, you are correct. Direct mail is still in contention some 75 years later.

More competitive ideas, one after another for using direct mail, works for a while before some other channel offered a lower rate or another idea or two to persuade others that direct mail is dead. 

 A next-door neighborhood once mentioned to me when he was in grade school in the sixties, he delivered newspaper sized flyers for one of the area’s largest department stores. They were 10 to 12 pages and sometimes more with a holiday approaching, which he folded and threw a copy toward the front door to every house in his neighborhood. He guessed the total delivery was over 500 to 600 flyers every Thursday. I’m certain he was cheaper than the postage cost using direct mail delivery.

Other channels entered the market in the sixties. Television was growing, especially color. The transistor radio entered the market providing more people to hear a sales message. Next, more channels emerged, such as contact management software, CRM, customer data, social media.

At present, the next best marketing and advertising channel to use is digital marketing, not only retail, but B2B as well. Since almost everyone has the means to visit the web, direct mail again has more competition.

Customers come and go. Their life changes. People move. There is a new flavor down the road. There are many reasons for how and why customers change.

Look at my 7 insights once again. Then dig into your customers and prospect data. The more you know about customers and potential customers, alerts you about changes in their purchasing patterns. Changes in your competition. Changes in communication channels you used to reach them.

Insight is a wonderful thing in marketing and advertising.

Thanks for reading. In marketing, nothing is new or surprising. The only thing certain is the customer has many options. Spending time to learn more about them, what they like, will pay off. Please call me, MarketingDoc, (800-251-3608) or email, Mdoc@direct2customers.com. We are always here to help you meet your marketing and mailing goals.

Please share with others–except your competition!

Direct marketing copy is like a puzzle.

Sharing my time with you is not over at the end of a post. There are many ideas I experienced in owning a small business. My ideas about using and writing direct marketing and customer-centric copy are from my experience as a small business owner and a marketing entrepreneur in marketing, advertising, and selling content, articles, reports based on my philosophy of people learn by reading, then learn by doing.

Please join our Direct2Customers Marketing Community today!

This is what I do and what I love to do.

Thanks again for reading. Questions?

Mdoc@direct2customers.com or 800-251-3608

How To Tune-up Your Most Important Marketing Tools…

How To Tune-up Your Most Important Marketing Tools…

create a regular maintenance schedule to get and keep customers buying.

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Square Up For The Challenge

In years past, I came across various marketing programs, mostly in business-to-business companies which were openly disgusted with their sales force. Conversely, their sales force thought that marketing could not tie their shoes and chew gum at the same time. Or so they said.

Eventually it became the norm, not only in business-to-business but other types of small business. Mostly, people were looking for someone to blame. For example, a key marketing attribute in B2B is to differentiate customers from one to another using targeted personalization. Building segments with personalization was the usual starting point in their marketing campaigns.

The big problem still exists.

Databases lead to customer relationship management software to store collected data to lump prospects and customers with similar traits. Sounds reasonable, but to keep this article short, read the quote by Mr. Thomas Wieberneit.

“CRM is over 30+ years on and salespersons still hate it.” 

Thomas Wieberneit,

Customer Think, July 9, 2019

It pays to get along!

I was always intrigued by the dislike between the two departments. Marketing is everything management can do to increase income using attention and attraction for salespeople to sell more goods and services.

For example, advertising is a tactical tool of marketing to announce products and services are available for sale. The sales team works with advertising promotions to gather interest and sell goods and services.

Sales is a tactical tool under the umbrella of marketing.

Advertising and sales, in small business marketing, must be in unison with marketing.

1). Here is another definition of advertising to think about – an audio (podcast or video) or a visual form of marketing communication that employs a sponsored message (on social media, webinars, websites) to promote and sell a product or service using skillful ideas by a variety of businesses or organizations. This is a channel marketing tool based on reaching your customer.

How do you know it will reach a prospect, let alone a customer?

2). What are sales classified? An exchange of a commodity or service, at a one-to-one encounter, at a price to obtain a good or a service.

Yes, it is another marketing channel not for everyone.

You have options.

Looking at combining sales and marketing, servicing a small business may work when having:

  • All advertising and sales have a shared vision.
  • Facing the challenges together.
  • Improving communication and learning from each other.
  • Meeting goals and improving efficiency.

In most cases, company leadership tries using a band aid to close a much deeper wound. Never hesitate to increase sales with advertising in a small company. Usually, there are a variety of ideas that will help you build realistic goals when moving forward.

Most people agree that marketing, advertising, and sales are undergoing a makeover. If marketing and of sales collaborate, this will help a company become better marketers.

Thanks for reading.

Mdoc@direct2customers.com

800-251-3608

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How To Tune-up Your Most Important Marketing Tools…

Someone once told me to keep my copy short…

Maybe for some people who have no interest in the topic I wrote about.

I understand that. However, I am a problem solver in and out of my marketing community (direct2customers.com) and at home as well.

Make some good moves with the music

My wife and I moved to a farm area in upper central Illinois about fifteen years ago. We had enough of the big city life.

A lot of my college friends grow up on a farm. They invited me on occasions to visit their farm over a long weekend.

Farmers are good problem solvers. Farming is a business. As in any business, they need to find a solution for a problem, which usually turns up at the most inopportune time.

So, what can the farmer do? Take off the farming hat and become a creator. “What’s on hand that I can use or make to solve the problem?” And yes, they always do.

     

    Write to communicate.

    Since my lifetime experience is in marketing, advertising, and sales, I usually connect with people, who are searching for help to reach and sell to more people. Sounds simple enough, but really is very difficult.

    There are so many things that could go wrong. If your customers are people, you get what I am writing about. Some buyers purchase one day and gone tomorrow or forever.

    If that is your goal, you’ll always need to beat the bushes to survive.

    Today’s customers are better educated. During the rise of direct mail, people search for customers, bought mailing lists of buyers, printed the mail pieces, and mailed hundreds of thousands of pieces to get a pathetic return. Even a small return of buyers fueled their mailing minds to mail again, usually to the same list.

    Today, the right way is building a strategic business plan. Become a fan of a customer-centric marketing strategy. Develop better ways to understand your customers, prospective customers, competitors, and your marketplace, direct and indirect. There are more channels of communication competing with mail, but each channel, such as email, brings home a piece of the bacon.

    There is a lot of information available for success this year. There are a variety of ways to use it. Your company is unique. Therefore, your customer-centric strategy is unique to your company.

    I helped thousands of companies build successful marketing and sales. So, when I share my information with a company, I always base it on my experience. So, when you read my articles, I share as much information as possible. You don’t want to be like the direct mail companies of the past. Throwing money against the odds of failure is a no-win situation leading to disaster.

    Visit our “Build A Direct Path to Customers” today.

    Email Mdoc@direct2customers.com.

    800-251-3608

    Mike, Mdoc