The $9 Million Purl

All from increasing fees…

In our business we get to meet a lot of people struggling with how to market their companies. So it is no surprise that as we talked with some retail banks and credit unions, they said one of their greatest challenges was growing deposits and loans since most customers either don’t have the funds or are afraid to increase their exposure in these tough economic times.

Through our conversations with various credit unions and banks we came across a credit union (CU) out West that not only had these issues but the needed increase fees for their members. The approach was a little different. Rather than just notify its 25,000 members of the new fees, why not treat this as a marketing opportunity and target multiple offers at the same time? They already knew a great deal about their members from their customer database. Why not use that data to offer a customized auto loan, an introductory low mortgage rate, or a or rebate if they open a new account to help offset the high fees. Plus at the same time provide an opportunity for the customer to review their financial portfolio and look for ways to enhance and improve it.

What we did: So we printed a Variable self-mailer with a Purl. The Purl (Personalized URL) was secured and needed a password for access. This is a financial institution and we wanted to hold these offers private to the individuals, not just anyone. This alone increased response because who wouldn’t want to see what was behind door number 1.

The CU also maintained a fairly good email database, so we targeted them through that channel as well. This made it easy to make a quick click through to the Purl landing page. This also increased the response and offered a modified version of the offer lead-in.

Members were targeted 3 times. Once with the postcard, and twice with emails, each time adjusting the message and removing those who already responded.

The Results: The CU saw almost a 20% response. From that they gained $4 million in new deposits and $5 million is new loans. A total of $9 million in new business. All starting from a Fee increase.

For those who do not believe in these technologies… Was it the Variable self-mailer? Was it the Purl? Was it the Platform? Start with a winning campaign, add these elements and you can have a successful campaign. When people tell me these technologies don’t bring value to their marketing efforts, it usually can be drilled down to poor execution, not so much the technology.

Moral: Never miss a marketing opportunity. If you have good data, and you know how to use Digital Marketing Technology (or find someone who does), you can run a campaign that offers builds brand loyalty and results in a positive ROI.

I guess the right approach is: When all you have are lemons to offer, find some water and a little sugar and sell them lemonade.

If you would like to know more about this program or how Digital Marketing might help you, give us a call 630-307-7100.

Cross Media Communication

Interactive cross media marketing campaigns create stronger, multi-faceted, communication that builds brand awareness, customer loyalty, and most importantly increases response. 

That’s great, but how do you build that into your marketing mix… and budget?  We get this question from time to time and the answer is simple; a carefully thought out PLAN.

Cross-media marketing is not something to jump into blindly.  It needs to be strategically planed and with the right plan in place you can allocate your marketing budget accordingly.

First, you need to understand your audience, where they are and how they like to respond.  By understanding this you can help ensure you do not waste time, money and effort on channels and response devises that have no relevance to your audience. 

Recently, we had a client say to us “Personalized URLs don’t work”.  We were surprised to hear someone say this, as we have had great success with them and have case studies and references from others who have as well.  The client was a loan officer and after digging deeper into the campaign we learned he was targeting low income individuals, living in multi-unit dwellings such as apartment complexes.  This helped explain why he had a low response rate via the Personalized URL.  Many of these people may not own computers, plus they tend not to be as comfortable with web interaction as they are with face to face or telephone communication.  Understanding who you are marketing to gives you the opportunity to strategically place and tailor your message, offer and response channels.

Next it is important to have a follow up plan in place.  The team needs to be raved up and know how to respond. Without a plan of what you are going to do if these people actually respond, you risk appearing unorganized and will loose potential clients before they even walk in the door.  It is important that the whole organization be prepared.  This might mean staggering your marketing, thus allowing your team time to follow up with the first wave before the next one hits.  Also everyone should be aware of the promotion and its restrictions so they are not blindsided by a customer’s questions.  It is extremely frustrating, as a consumer, to walk into an establishment with their latest promotion and the clerk acts like you are showing them something they have never seen before.  Clients should not be educating employees.   Also it is important to have enough staff and/or product on hand in order to contend with the new business.  A direct marketer learned this valuable lesson the hard way.

A restaurant sent out 10,000, beautifully designed postcards with a great offer.  The response was just what they had hoped for, an overwhelming renewed interest in their restaurant.  However where the campaign fell short was that they did not have the internal staff to support the new serge of new business.  This lack of planning lead to long wait times, subpar service, dissatisfied customers and ultimately a tarnished reputation.  

Finally it is critical to have a plan in place to not only track the leads that come in, but to be able to identify where they came from.  If you use a combination of direct mail, radio advertising and mobile marketing you need to understand where each lead comes from in order to better allocate your marketing dollars the next time.   This step is often over looked yet it may be the most important.

Today marketing is moving from a transaction-based effort to a conversation. This conversation gives us the opportunity to engage and interact with our clients and prospects on an individual level.  Jumping into cross-media marketing without a plan or consulting an expert is not a good move and can result in a campaign failure.  However by incorporating the proper combination of cross-media platforms we can capture the attention of consumers and deliver a positive ROI.   

Mobile Up Your 2012

2012 IS ALMOST HERE AND IT IS TIME TO “MOBILE UP” YOUR MARKETING! LEARN HOW TO LEAP OVER THE COMPETITION IN A SINGLE BOUND!

DataMart Direct wants to help you get 2012 off to the right start and to do so we will be hosting a FREE seminar, January 17th, 2012, that examines Marketing in this new digital age.

Networking and refreshments will follow!

Visit www.MobileUp2012.com to register.  Seats are limited, register today!

RSVP by January 10th, 2012 for a chance to win an iPad2!

Please contact us for more detail! 630-307-7100 or at info@datamartdirect.com

DataMart Direct Selected as a Grand Award Winner of the PEAK Awards

The Print Services Distribution Association (PSDA) selected DataMart Direct as the Grand Award winner in the Direct Mail, Mobile category of the 2011 PEAK Awards. The PSDA PEAK Awards program recognizes excellence in print and marketing services by promoting projects and programs that showed innovation and return on investment. DataMart Direct won this prestigious industry award for its entry “Open House Campaign.”  This campaign showcases the interactivity of Personalized URLs, QR Codes and Variable Data Printing.

DataMart Direct specializes in creating integrated marketing campaigns that create stronger, multi-faceted, strategic messaging that builds brand awareness, customer loyalty, and most importantly increases response.  For more information about this campaign or our other services please contact us at info@datamartdirect.com.

Are Direct Mail and the USPS Dead?

I keep running across articles and people who tell me Direct Mail and the Postal Service (USPS) are Dead. No one is using it anymore I am told. Could it be?    Hmm… well… Not quite.

There is no denying that Direct Mail is on the decline, down some 35 billion pieces in the last year or so to around 177 B. The  USPS is doing everything it can to improve efficiencies and reduce costs but with the really big pension plan (the real killer here), there is only so much it will be able to do. Say goodbye to Saturday delivery. That’ll be history soon enough… but what about direct mail as a medium itself? 

Just look in your own mail box. You can probably see it in your business and at home. Smaller piles with  fewer pieces to read through. Definitely down, but maybe not out… think about it. Less mail could also mean a greater opportunity. The medium is alive and well albeit smaller and more nimble. Ironically, now might be the “Best” time to utilize Direct Mail since the mailbox isn’t so crowded and your message will standout a bit more. But to be effective, it must be combined with electronic channel (like the web, Purls, email…) as a complete integrated cross media campaign.

The call to action used to be to call, or return a card. Today, it is to log onto a website. Bring up a personalized URL that all ready knows a little about you and looking to help guide you along. Technology has and will revitalize Direct Mail and Marketing in general as the industry matures and develops.

So… To those who say Electronic Marketing is the one and only way to Market a business, I say…  you’re nuts (but I say it with endearment). Marketing is a Tool Box, and Electronic channels are just one more tool in that ever growing arsenal.

It’s kind of funny to me after working in direct marketing most of my life… I believe that today’s electronic marketing, like email, Twitter and Facebook are like still children. Sometimes I feel like a direct marketing parent watching them and wondering… what they will be like in ten years?

Which will be the “One Most Likely To”… and which one will be the “Class Clown” …  time will only tell. Can’t wait for the teen years…

Do you think Direct mail is dead???