Direct mail marketing can give your business an excellent return on investment. If you do it wrong, it can also lose you a lot of money.
If your mail never gets delivered, you’ll lose money. If your mail never gets opened, you’ll lose money. If you overspend on printing, of course you’ll waste money.
In this video, filmed at the Titanium Mastermind in Phuket, Thailand, Craig Simpson gives 3 tips to avoid wasting a fortune on direct mail.
1. USE A GOOD LIST
When you’re renting a mail list, always get it from a reliable source.
The typical newcomer to direct mail doesn’t know what the reliable sources are. They’ll go online, get a group of names and decide they’ll be good enough.
This is a mistake. If it’s not a reputable source, it’s likely that as much of 20% or 30% of the mail will be sent back to you. The addresses are undeliverable and it’s a waste of money and time.
Instead, do your research and find out the reliable sources. If you get a list from a trusted friend who vouches for the quality of the list, go for it. But don’t rush to send out to any random list you find online.
2. USE THE RIGHT FORMAT
Every niche has a mail format that works best.
In alternative health, the magalog is the most common format. In the market for financial advisory seminars, the invitation piece is the most common. In the business of publishing financial newsletters, the long sales letter is the format to go with.
If you use the wrong format for whatever market you’re in, you won’t get a good rate of response.
Find out what other successful competitors are doing in the market. You’ll find that most of them use the same mail format, and there’s a reason for that. Find what’s working in the market and adopt it in your own business.
3. CLEAN YOUR LIST TO SAVE MONEY
Every list, no matter how good it is, will have some bad addresses. There will be some duplicate names and some bad ZIP codes.
You pay for printing and postage per address, so this will cost you money you don’t need to spend. It’s not uncommon for 15% of your list to be bad addresses. If you have a list of 10,000, this works out to be $975 in unnecessary spending.
By cleaning your list and removing duplicates and bad addresses, you can save this money.
Cleaning your list is not hard to do. The printers can do it for you. Just give them the list and ask them to clean it for you. It’s a simple request that will go a long way to improve your margins.
The MOBE Gold Masterclass goes into more depth on this topic. It will show you how to find customers, sell to them and build a consistently profitable business using a Customer Acquisition Process. To learn more about the Gold Masterclass, click HERE.