Discover the Power of Direct Mail: Memorable, Delightful and Effective

When it comes to the state of direct mail, there’s been no shortage of naysayers over the years. As the world continues to modernize at an unprecedented rate, the Nostradamus death knell of direct mail has been ringing. And yet, direct mail has not only not died - it has thrived!

As part of FMT’s Leading with Education webinar series, our head of marketing, Carrie Roso, sat down in conversation with Jennifer Cox, VP of Strategy and Client Services at Mittera, one of the largest, privately-owned print, mailing, and customized marketing solutions providers in the nation. Together they discussed the impact of direct mail on the financial industry, especially for independent financial advisors, as well as important things to consider when you’re planning your next direct mail campaign.

Understanding the State of Direct Mail

Direct Mail is having its moment – and for all the right reasons. According to the USPS:

• Direct mail offers the best response rate from customers, with a 112% ROI.
• On average, advertising mail is kept in U.S. households for 17 days.
• 41 % of Americans of all ages look forward to checking their mail each day.
• 85% of people read their direct mail immediately on the same day it was received.
• 28% purchase more items and spend more when they receive a direct mail offer.

So, what’s the secret to direct mail’s success? Well, when you get to the heart of it, it really comes down to data. Having the right data enables you to craft the most relevant messages for your target audience, creating a more customized and personalized experience for the reader.

As Jennifer explains, “data is what's driving the one-to-one personalization - moving away from a piece being just personalized by name or one interest. Data enables the the entire piece to be fully dynamic. This way you can really have each piece that’s mailed be completely different and customized to that specific reader at that specific household, depending upon wherever they're at in their buyer journey. That's what the data will help us drive.”

This data and the analytics it unlocks is what enables the success of the “Mail Moment.”

Leveraging the “Mail Moment”

As coined by the USPS, the “Mail Moment is the highly interactive daily ritual that consumers devote to bringing in their mail and discovering what it offers.” In other words, it is the moment of opening your mail and giving it your undivided attention.

Let’s pause for a moment and consider what other content mediums give us this kind of moment. Do we stop to really sit and read the latest marketing email? Or do we instantly hit delete? Unlike most digital methods of marketing interaction, direct mail has the opportunity to stop people in their tracks, getting them to spend more time reading your content, connecting with you and your brand, and understanding what you have to offer them.

Regarding the emotional connection of direct mail, the USPS has shared the following statistics:

• 56% say receiving mail is a “real pleasure.”
• 55% “look forward to discovering the mail they receive.
• 67% feel mail is more personal than the internet.

The Power of Direct Mail for Content Strategy

When you consider the facts, direct mail is a massive opportunity for brand marketing – and the financial industry is no exception. But there are a few things to keep in mind when planning your direct mail strategy.

Use data to know your audience – By keeping abreast of your data, you can unlock powerful insights into who you are marketing to and what they want to see. Even knowing your target demographic can help unlock marketing potential. For example, the USPS reports that among all generations, millennials engage with direct mail the most, with 90% thinking direct mail advertising is reliable.

As Jennifer shares, “it’s about connecting with customers in the ways they want to be connected with, and the data is what really allows us to do that. We have seconds to get their attention. They're not going to read [it completely]. They're going to spend time with it, but they're going to scan the piece first to see if it touches upon their needs and their concerns, their wants and desires. If we're serving up relevant content to them based on what they're interested in, they're going to spend more time with it, and we will stop them in their tracks making them interested in learning more.”

Test your messaging – Make sure that you’re continually testing what you’re doing. Jennifer advises that when you map out different strategies for different audiences that’s when you get to really understand their different behaviors and how they’re responding. Using this information enables you to ensure you’re constantly modifying your communications to that specific audience based on their methods of response and what’s proven to be working.

Don’t forget the digital component – Thanks to the digital era we live in, there are so many ways to interact and engage with your audience that will enhance the direct mail experience. For example, incorporating AR, VR, and QR technologies into your mail piece is just one way to stand out. In particular, QR codes are a great way to track your audience engagement. It is also a way to literally pull your reader into the piece, getting them to interact with it in a meaningful way and ultimately drive them to a landing page to get more information.

Ultimately, it’s clear that direct mail packs a powerful punch when it comes to marketing efforts, especially when it’s paired with the right data and digital components.

Want to learn even more about the potential of direct mail for your financial marketing efforts? You can find the full version webinar by clicking here. And make sure to stay tuned for more industry insights with our Leading with Education Webinar series.