If you venture into direct mail marketing, you can tap into a medium that’s highly responsive but most of your competitors are overlooking.
Buying or renting a list is the first step to take. For a beginner, however, you can quickly find yourself very lost in the jargon.
What are compiled lists and response lists? What is controlled circulation and paid circulation?
Direct mail expert Craig Simpson decodes these terms for you in this video, filmed at the Titanium Mastermind in Phuket, Thailand.
THE DIFFERENCE BETWEEN COMPILED AND RESPONSE LISTS
Direct mail lists usually fall into two categories: compiled lists and response lists.
Response lists are usually the ones you want. With a response list, it is expected that every contact on the list was added because they responded to a marketing campaign in some way. They may have bought a product, submitted a survey or requested a free giveaway.
If response lists are at one end of the spectrum and getting numbers out of a phone book are at the other end, then compiled lists would fall in between.
With a compiled list, there is usually no permission from the contacts who were added to the list. For example, you might have a compiled list of dentists in a certain area. The list is somewhat targeted and segmented by demographic, but there is no demonstration from these contacts of being action takers.
The return rate for compiled lists is often 20 to 30 per cent.
TYPES OF RESPONSE LISTS
Response lists are further categorized based on the type of response that generated the contacts on the list.
Inquiries usually refer to the calling of an 800 number from an infomercial or a magazine ad. When the contact views the ad, they may need to call the 800 number and provide their information to request a free giveaway. Then, they are added to the list.
Controlled circulation usually means that the contacts filled out a survey to get a trade journal. These are often segmented by industry. Then there is paid circulation, which is a list of paid subscribers to a certain magazine or newspaper.
There are buyers lists, which consist of people who bought a particular product or service from TV or through the mail. You can also get lists of attendees of a live event or conference.
Each type of response list has its advantages. Think carefully about which one would best suit your purpose as you venture into direct mail marketing.
The MOBE Titanium Mastermind goes into more depth on this topic. Members learn how to deploy advanced marketing campaigns and scale their businesses through successive revenue ceilings. To learn more about the Titanium Mastermind, click HERE.