Direct mail continues to be the most “results driven” marketing channel in 2016. One important factor to keep in mind depending on which demographic you are trying to reach, there could be certain features of your mailer that may require a second look. Simply by making a few minor alterations, your results could dramatically increase. So when talking about affluent prospects, what kind of marketing strategies seem to work best?
When it comes to reaching affluent prospects with direct mail, one of the first components proven to increase response rates is personalization. In fact, this feature alone can increase response rates significantly among this customer segment. The more you can personalize the better. Address the client by their first name in your content and try to tailor content around them.
Use Thicker and Better Material
Another component that has been shown to increase response rates among this customer segment is using better quality paper in your marketing efforts. It is very important to have quality over quantity with this segment. Thin and flimsy paper will not create the high-end impression you are attempting to create marketing to this demographic. Focus on using texture rich or color dense material that can hold rich and deep color formats. For customers in this segment, it’s immediately recognizable in opening their mail. This can be a critical factor in your ability to grab their attention and stand out from your competitors attempts to reach them.
Although there could be some potential increase in costs with some direct mail companies, Resource Solutions uses only the highest quality materials in all of the marketing products we offer financial professionals, typically at costs lower than our competitors.
Focus On Exclusivity
Affluent clients are not interested in being part of something that everyone else has access to. If there is some way to include exclusivity than do it! The verbiage and design on your invitation our mailer should heavily reflect this. If there is a service discount, give them the impression that this is exclusive to them.
Another big factor for successfully using direct mail with affluent clients is to add-in credibility. If your product or service was featured on a show, or is being used by a well-known company/brand/celebrity, all this information should be included in your mail piece. Leveraging credibility can be critical in reaching wealthier prospects. Remember, you have to establish report and trust in order for them to be incentivized enough to take action. If you don’t have fresh ideas of what you could incorporate, think about certifications, ratings, authorship, features and even review services like that of BBB (Better Business Bureau).
More often than not, companies who try to cram everything into their mailers in order to maximize their exposure will end up sabotaging their campaigns. Although it sounds like a great idea to “add more”, in reality, it just turns into clutter. The more content you have on your mail pieces the more overwhelming the prospect can become. This can be especially true in attempting to reach more affluent prospects. Being bold is eliminating all of the unnecessary clutter and instead, focusing on impact over exposure. What that really means is focusing on powerful messaging and powerful imagery with strong colors and design that will leave an impression.
We hope you find these tips helpful when you are crafting your next mailer. If you want to learn more about how Resource Solutions helps financial advisors and the financial services industry with our turn-key marketing systems and direct mail services please contact us here.