Which marketing strategy is the best? Email or Postal?
Today's marketing world has gotten so noisy. Do you agree? As a small business or a corporation we have so many avenues to choose from, but so little time and budget.
How do you decide which marketing approach to take? Some prefer email marketing or postal marketing. There's also social media, such as Facebook, Instagram, Twitter, and Snap chat, but lets focus on the two methods here. Email marketing and postal marketing. Which is the best ones?
I can easily narrow things down for you right now. But, there are some questions you need to ask yourself before starting.
Question: What are your goals for your business?
Is it generating more leads?
Selling your services
Getting your message out
Your business goals should reflect what you're trying achieve.
We all know that NOT all strategies doesn't necessarily meet certain goals. You're going to try to take the shortest or best route to meet your ultimate goal.
Whether it's generating more leads, getting new clients or selling your products and services.
Question: What audience do you want to target?
If you want to target a certain age group lets say 35-55 years old, then email marketing would be a better choice. Why?
Basically, to make a long story short TechnologyAdvice is a company that provides a service that connects buyers and sellers based on what kind of technology was needed.
what does email segmentation mean?
Segmentation means figuring out what people are interested in. It's analyzing the meaning of something.
Lets take a look of what TechnologyAdvice did.
So in order to reach to their prospects of the buyers that are looking for software solutions, they needed to focus on those companies that needed it the most.
After they had who they wanted to contact, such as marketing directors, VPs of marketing or CMOs within the vendor organization, as those people are typically the decision makers when it comes to signing a lead generation contract, they were able to plan their marketing strategy more effectively. Also, targeting the specific industry these decision makers were in they were able to narrow in on those important decision makers.
However, what struck me was how these advisers was able to think it through.
They knew some higher ups needed more nurturing before turning them over to a vendor. Thus, contacting those people who downloaded white papers or research doesn't mean they're immediately interested. Taking time to gain their trust is key. Moreover, since there were a large amount of buyers, to take the heavy lifting off salespeople to contact everyone of these leads would take time, so automation was considered an option.
Hold on there's more....
How email marketing segmentation increased open rates?
By creating content relevant to each prospect, TechnologyAdvice was able to figure out where their biggest priorities were, know what generated revenue, and what content failed.
I believe creating effective content around each prospect in mind was also the key to their success. They were able to put content in each blog based on certain categories, so they could develop expertise in-house based on the data received. Thus, they've created content to each drip campaign even though it might overlap.
Here's what email segmentation achieved:
Before email segmentation and automation, open rates were 20%
After email segmentation, open rates were 40%
Click through rates consistently was 6%
So I know I went over board with explaining this example, but this is what email can accomplish.
The Benefits of Email Marketing:
Can generate revenue
Is a good way of gaining trust
Can make your brand consistently found in front of people
Can get you business
Bonus: To increase email subscriptions and email opens by 200%, give away something valuable for FREE.
Okay now lets go over another marketing tactic.
Okay, so you want to go this route. The first thing to know is, it's popular among people 65 years old and beyond. Just check the chart above.
But, don't rule out direct mail yet. Young people see mail too.
8.9 billion dollars were spent on mail advertisements
Direct mail increased from 49.2%- 57.0% from 2005-2015
10.5 million catalogs were mailed in 2015
So don't worry mail is not completely dead even though social media and email has taken off to great lengths.
To get started, here's some Best Practices of Starting a Postal Marketing Campaign:
1. Analyze Your Data
Focus your data on your demographic, age group or other criteria to identify the right prospects for your campaign. By having a CRM system in place, make sure to clean up your database so that you aim for the people you want to do business with.
2. Make it Personal
Personalize your campaign for each prospect. Provide relevant information that can benefit each person, such as what your offer is for the month. Include their name, for example, Dear Mark.
Note: To yield the best results, one company included their Twitter handle that increased conversions by 200%. Wow!
3. Timing is Key
Just like any other marketing campaign, sending out mail at the right time is key to your success.
For example, lets say someone sent a discount form in and wanted more information. Then you can send a follow up with other information about your special discount offer with a brochure. You could also attach a letter thanking them for sending in the form. You could do the same for other new customers that sent something in requesting a catalog from your business.
4. Track Your Success
Be in the "know" every time you create a campaign. Make sure you keep an eye on your results by measuring the KPIs and ROIs.
Here's the scoop to keep your metrics in check:
Cost per mailing
So here's all you need to know about Postal marketing. So If I've forgotten any other metrics, please let me know. Email me!!!
Big Takeaways from Email Marketing vs. Postal Marketing
So you decide which works for you. Is it email or postal marketing?
Remember to take each one very seriously and weigh the advantages and disadvantages. I particularly like email because it's cost effective, it's used among all ages, and best of all there's proven data it works.