Direct Marketing is More Important Now Than Ever Before: Top 6 Things Marketers Need to Keep in Mind During COVID-19 Pandemic

Great! The whole world has gone seemingly crazy and you don’t know what to do. Information is changing hour by hour and even minute by minute. It’s difficult to know what to do, what kind of effect this will have on your business, how to anticipate, prepare for and mitigate the losses that are inevitably coming your way. It is undisputable that every single action that you take (or don’t take) will affect your business for weeks, months and even years to come. That is really heavy huh? Well, don’t panic. What goes down must come up. You will very likely make it through this. Many of us have been through similar times before (2008 was not that long ago and we’re still here).

Whether this is your first time through an economic downturn or you’ve been here before, here are some things that you need to keep in mind as you are putting together your actions steps.

1. Don’t Stop Marketing - Do NOT completely halt all of your marketing efforts – if you can INCREASE them and capitalize on the opportunity for maximum exposure
2. Niche Market Analysis - Do a deep dive analysis of your target audience and their behaviors during economic downturn
3. Customers First - Focus heavily on your customer base and internal file as they are the most likely to continue to buy from you.
4. Direct Market - Increase overall conversion rates by utilizing direct marketing methods that targets only people who are most likely to continue to buy during an economic downturn.
5. TRACK TRACK TRACK - Analyze and track every marketing action and the return on investment
6. Be in it for the “Long Haul” - Buckle your seatbelt and get ready for a long ride – you may not see immediate results, stick with it! 

If you implement these 6 actions then you will be more prepared and better off than most businesses who will cut their marketing completely on a knee jerk reaction to the current situation. Over 400,000 small businesses went bankrupt or permanently closed in the last recession. Let’s take the lessons from the past and apply the successful actions today.

Pandemic Marketing Rule #1: Don’t Stop Marketing

When economic downturn strikes the last thing that you want to do is halt all of your marketing efforts. Promotion is the bloodline of your business, cutting the supply will severely damage or kill your overall business especially during a time of crisis. Building and maintaining your brand is the way your customers and potential customers will be able to maintain their recognition and trust in you as an organization. They need to know that you are here and you are weathering the storm. You can also utilize this time to capitalize on exposure. Most business’s first action will be to cut marketing budgets and promotional outflow.  This allows you the space, time and audience to make a maximum impact and impression on your target audience.

Pandemic Marketing Rule #2:  Niche Market Analysis

Take a deep dive analysis of your target audience and specifically their buying behaviors during an economic downturn. There is an article put out by the Harvard Business Review that goes into the psychology of consumer behavior and purchasing habits during a recession. https://hbr.org/2009/04/how-to-market-in-a-downturn-2. “It’s critical to track how customers reassess priorities, reallocate funds, switch brands and redefine value”.  From groups that will “slam on the brakes” and not buy anything to people who “live for today” and continue purchases without missing a beat. Assess what this means for your organization to build the most effective marketing plan to the segments within your niche market. You have the raw data and there are resources available to assist you in analyzing that data to build your effective pandemic marketing strategy.

Pandemic Marketing Rule #3: Customer First

The good ole 80% of your sales come from 20% of your customers is so important during this time. Hang onto those customers for dear life, they will be your largest asset during this time. You cannot effectively retain their business and loyalty if you aren’t communicating with them. And let’s face it – every organization in the country is sending emails on how they are handling COVID19 including your florist so let’s not pretend that email is going to cut the mustard. Focus the bulk of your marketing efforts on your existing clients.

Pandemic Marketing Rule #4: Direct Market

This may be the most important rule of all. With today’s cutting-edge technology, we are all in a much better position than we were during the Great Recession. In addition to focusing on your customer base, you can pin-point target market exactly who is interested in your products or services right now. You can eliminate the prospecting guessing game focus only on people who are visiting your website. Identify the anonymous visitors through modern technology like LEADMatch and send them a direct mail piece (heck everyone is going to be home anyway). You can also retarget those visitors digitally through the Google Display Network and social media platforms such as Facebook and Instagram. Focusing on only the people who are browsing your products and services right now will allow for more effective use of your marketing dollars and overall higher conversion rates. Utilize direct marketing in a very targeted manner to ensure you are staying in front of the appropriate base and creating the serendipitous moment of being in the right place at the right time – when they’re ready to buy!

Pandemic Marketing Rule #5: TRACK TRACK TRACK

You need to track everything that you do (period). Tracking will give you full visualization into market infiltration, exposure, engagements, conversions and overall marketing impact. It will also provide you with the visual transparency that you need in order to test and tweak messages, call to actions, market segments, etc. Gather the data and analyze constantly. Once you know what is working strengthen those actions and knock off any waste. The ultimate goal is to refine your marketing strategy and enhancing best practices continuously to ensure overall success and sustainability. Be willing to adapt and pivot quickly as data and trends become more and more clear. Trust the process.

Pandemic Marketing Rule #6: Be in it for the Long Haul

This situation may have seemingly exploded overnight and the impacts are hard and fast. This will not be the same story for the rebuild. Much like a natural disaster, it takes a short period of time for catastrophic damage but a lot of time, patience and hard work for the repairs and overall reconstruct to take place. Buckle up and be ready to ride this thing through. There is no “quick fix” here. Marketing is a long game anyway, now it will be even longer. Have patience and know that every effort that you make right now will pay off in the long run. Do everything in your power to keep up the consistent outflow. It will not only keep your business alive during this time but it will almost certainly ensure future growth.

Need help marketing during the pandemic? Check out our Partner Locator: http://directmail2.com/partner-locator. Expert strategists are standing by to help you through this crisis. We have the tools and guidance that you need in order to make it through.

Source Links

https://hbr.org/2009/04/how-to-market-in-a-downturn-2.

https://hbr.org/2008/09/how-to-market-in-a-recession

https://www.entrepreneur.com/article/304099

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Want to Improve Results? Look to Readability

Printing is a visual industry, but the copy matters, too. If people can't read your messaging easily or if it's difficult to understand, you won't get the results you want. Here are five tips for improving readability and thereby improving your response rates, conversions, and sales, too. 

1. Be specific. 

People are drawn to details. For example, which copy is more likely to draw your eye? 

• "Save money."
• "Save hundreds of dollars."
• "Save an average of $386 per year."

It's the last one. "Save $386" really jumps out. Details draw the eye and command attention. Use them!

2. Be relevant. 

People's eyes are drawn to copy that talks about things that matter to them. Let's say you are a bank marketing to a target audience with a high percentage of families with children about to graduate from high school. Sure, you can talk to this audience about how your savings accounts have the highest rates around, but "We offer half-percent higher interest" might not be the messaging that resonates most. "Put the extra earnings from our high-yield savings accounts toward college tuition!" might be a better approach instead. 

3. Add images. 

Even the most specific, relevant copy can fall on deaf ears without an image to accompany it. For example, you might create a banner ad that says, "Download your free retirement guide," that goes totally unnoticed, even if it's hitting your target audience. Add an image of the cover, however, and suddenly the ad is getting tons of clicks.  

4. Use numerals when possible. 

When discussing numbers in running text, use numerals instead of spelling them out. For example, which draws your eye more? "Save ten thousand dollars"? Or "Save $10,000"? Numerals make details pop. 

5. Avoid using all caps. 

For the most part, the human eye has difficulty distinguishing between words and letters in all caps. Avoid using all caps except in rare instances. 

Want more ideas for great design and type that make your message stand out? Give us a call!

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Want More B2B Accounts? Try This!

Marketing to businesses can be tricky. Unlike marketing to individuals or households, where there might be only one or two decision-makers, in businesses, decisions are often made by committee. In fact, “Chief Marketer” notes that, on average, B2B accounts have 13 influencers involved in the process. Thirteen! This is why successful B2B marketing requires a different approach. How can you run a successful B2B marketing campaign?

1. Use multiple touches every time.

According to BrightFunnel research, it takes an average of 18 touches to close a B2B deal. Combine that with 13 influencers, and you have a complex decision-making process that requires a coordinated approach targeting multiple people in multiple areas of the company. 

Multiple touches are also necessary because individual stakeholders may need distinct types of information at each stage of the sales journey. Different channels have different strengths, so the channel you use to bring your product to the company’s attention may not be the same as the one(s) used to drip more detailed information along the way.

B2B campaigns require multiple channels and multiple touches at different stages of the process.

2. Get to know who all of the influencers are.

Getting in front of influencers requires knowing who those influencers are. Sometimes, they can be hidden. If you are selling IT equipment, for example, you might know that you need to contact the directors of IT and finance, but the purchase decision might also be influenced by people in marketing, sales, and customer service. Find out who all of your influencers are because, at some level, you need to be marketing to all of these people, too.

3. Get fresh data.

The more you get to know your influencers, the more you can motivate them with relevant messaging. There are many effective data suppliers out there, so don’t be afraid to try something new. When a single account may be worth hundreds of thousands of dollars, it’s worth the effort to find new sources, test their effectiveness, and make sure you are reaching the right people with the right message at the right time.

Need help navigating the labyrinth of B2B sales? Let us help!

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Study: More Channels = Better Results

Have you ever wondered how using multiple channels impacts your results? A recent study from Demand Metric / PFL gives some insights. In this study, “2019 Multichannel Marketing Report,” which surveyed 579 marketers, researchers asked how many channels respondents were using and how happy they were with the results.

The study found that two-thirds of study participants use between three and five channels for their campaigns. Fewer respondents use six or more channels, but those that do are getting better results.

How Many Channels Are You Using in Your Campaigns?

1 Channel	3%
2 Channels	11%
3 Channels	29%
4 Channels	21%
5 Channels	17%
6 Channels	5%
7 Channels	4%
8+ Channels	6%

Next, researchers asked participants to rate the effectiveness of their efforts. Consistently, respondents using more channels reported getting better results:

·         7+ channels: 77% report good or very good response rates

·         4-6 channels:   69% report good or very good response rates

·         3 or fewer channels:   61% report good or very good response rates.

Adding channels boosts results!

Which channels should marketers integrate? It depends on their marketing goals, budget, and available time and resources. But direct mail comes in very high as a component of these campaigns. When asked which channels were the most effective at reaching their target audiences, 78% of respondents cited “integrated, branded, personalized direct mail” as being effective or very effective and 61% said traditional direct mail is effective or very effective.  Not only this, but 80% of study participants report that direct mail directly improves multichannel campaign performance.

When it comes to multichannel marketing, there is no magic bullet, but there are some trends we can count on: 1) well crafted, integrated multichannel campaigns get better results, especially when those campaigns include direct mail; and 2) all types of direct mail are powerful, but especially those that are branded and tightly integrated with the other channels being used.

What does a well-crafted, branded, integrated direct mail campaign look like? Let us show you.

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Want 25% Increase in Profit? Here’s How!

Want to make more money and improve your bottom line? Don’t just acquire more customers. Woo your existing ones. According to Bain & Company, a 5% increase in customer retention correlates with a 25% increase in profit or more.

How does this work? Just look around!

• Over there—stacked on that storage piece—how many catalogs have you kept?
• On your fridge, how many mailers do you have taped to remind you to take your car in for a checkup? The dog to the vet? Your kids to the dentist?
• How many marketing or customer retention emails have arrived in your inbox just in the last week?
• While reading this, did you receive a text alert for a flash sale at your favorite retailer?
• If you’ve “liked” a company’s page on Facebook, have they asked you to participate in a social media contest by sharing a story or uploading a picture to their page?

It’s all about maintaining customer engagement over time.

Realtors are great at this. Once people close on a new home, they often begin receiving postcards from the realtor who sold it to them. Postcards typically arrive with the change of seasons. In the spring, families with large lawns get tips on choosing a landscaper. In the fall, families with pools get tips on closing those pools down. Families up north get tips on winterization.

Why do realtors do this? If the homeowner’s friends and family are looking to make a move, the realtor wants to get the referral. If the homeowner eventually needs to sell the home, the realtor wants to be the first one they call.

Whether you are selling toys, clothing, or sporting goods, the principle is the same. Use a mix of channels to engage people in different ways, continually feed them information on new products and services, tips and tricks, and other helpful information to keep them coming back.

Need help? Give us a call!

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Study: Personalization Translates into Increased ROI

Data-driven, personalized marketing has become nearly ubiquitous in today’s hyper-competitive economy. But is it really necessary? Can’t you just mail more generic offers at a lower cost and get the same results? Not anymore. Why? Because long-term profits have become highly correlated with customer engagement and loyalty, and personalization is key to driving both.

In a recent study, “2019 Trends in Personalization Report” (Evergage/Researchscape), 98% of respondents indicated that they felt personalization helps advance customer relationships, with 70% saying it has a “strong” or “extremely strong” impact. In addition, 59% cite increasing customer loyalty as a top benefit of personalizing their communications and 85% indicate that their customers now expect personalized experiences.

It’s no wonder that brands are increasingly focusing on personalization, whether in print or digital communications. In fact, “2019 Trends in Personalization” found that when it comes to email, digital, and online personalization:

• 90% of respondents report a measurable lift from their efforts.
• More than half (58%) see lifts of more than 10%.
• Fifteen percent report lifts of more than 30%.

While print was not included in the survey, it’s hard to imagine that if marketers are getting these results in other channels, they would not see similar results in print.

Personalization is not just a worthy goal. It has become a critical strategy for engaging and retaining customers and motivating customers and prospects.

Is increasing your investment in personalized communications on your “to do” list for 2020?

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When It Comes to Profits, It’s Time to Sort Your Customers

Let’s face it. When it comes to profitability, some customers are worth more than others. That’s why, before deploying any marketing plan, you need to know who your most profitable customers are.

Understanding Customer Lifetime Value (CLV), or how much a customer is worth over time, is a critical part of the equation. One customer may spend $250 with you initially, but then never order again. Another customer may order only $150 the first time, but then become a loyal (and far more profitable) customer who orders thousands of dollars’ worth of products over time.

This is why in order to understand the true profitability of your customers, you need to look at campaigns from a broader perspective. If you were to look at the ROI of the above campaign in the short term, you would think the first customer netted the highest ROI. But it was the second who was the most profitable.

How do you determine CLV? First, you need to decide which measure (or measures) you are going to use.

• Do you want to determine CLV based on revenue generated?
• Do you want to use profitability?
• Do you want to include hard dollar values only?
• How about the frequency of purchases? Is having consistent, predictable revenue streams more critical than larger, less consistent ones?
• How important are other factors, such as social media influence, to your calculations?

You also want to consider your customer acquisition cost (CAC). If you use static direct mail combined with generic email, you may spend less but net fewer customers. Or you can run a short-run, highly targeted campaign that costs more overall, but acquires more customers and has a lower CAC that results in a higher CLV.

Customer Lifetime Value is an important calculation, but its value to your marketing strategy depends on the accuracy of the numbers you put in. Talk to us about creating accurate CLVs for your customers.

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