I pride myself on having a lot of great ideas, within the world of marketing and outside of it. Catch phrases, logo ideas, promo and trade show ideas, a better mouse trap, etc., I’ve had a few. Having a good idea is like a good meal…I nap after both.
But I also take as much pride in the ideas I never had….like the New Coke. That wasn’t mine. McDonald’s use of the catch phrase “I’d hit it”…Not I. No sir. How about that ‘paper clip guy’ that always showed up on your PC (go to a Mac folks!) in windows – yikes. Still not mine.
Not having these ideas has really given me the confidence to not have others. I’m strongly considering having no ideas at all for all kinds of products and businesses….and I’m offering to not have these ideas to them for no cost at all. That’s just the kind of guy I am I guess.
As a matter of fact, as a special offer to all of you reading my blog, I would like to offer to you to have NO IDEAS at all at NO COST. This offer is only good for as long as I remember that I made it or until I have forgotten I made it…whichever comes first or last.
Having said that….if you do want to discuss any ideas regarding your business I would be pleased to do so and charge you only for ‘the good stuff’. Cost would be 2 cents plus HST.
Oh…and I won’t even mention the fact that I was too young to not have the idea about creating the Edsel!

One of the most frequently asked questions I get asked from my clients when working with them on a direct marketing project is “What is a good direct mail response rate these days?”. While you should have expectations related to these direct mail response rates and statistics but you shouldn’t live and breathe by these statistics. It is far more important to measure your own response rates and to figure out how to make them better moving forward.

According to the Direct Marketing Association, the average response for a direct mail campaign is around 2.6%. This is the number of people who responded to the direct mail piece in some way — by calling a number, visiting a website, coming in to take advantage of a promotions, or sending back a reply mailer. This is a general statistic and may not be the same depending on your business type or vertical and there are many factors that can affect that response rate – even the weather on the day it is received!

So how useful is this number to you? Not very. Who cares how you compare to some general average? The best thing you can do is forget about that 2.6%, and focus on testing and improving your own response rates. This is all that really matters. You need to establish a “control” by sending a first campaign out. Then you need to try and beat the control with a tweak of the original theme. This is how direct mail marketing works — or how it should work.

A Good Response Rate, Defined

So: What is a good direct mail response rate these days? A good response rate is one that helps you achieve your marketing goals. Period. Ideally, the campaign should cost less than what it produces. So you want to accomplish some kind of goal, while enjoying a positive return on your investment (ROI). This is a good direct mail response rate.

When tweaking your message(s) it has to be done one item at a time. This is the only way you can measure the effectiveness (or ineffectiveness) of your changes. Most marketers experiment with different headlines, copy, images, offers and mailing lists. These are good places to start.

Working out a direct mail marketing plan is a lot easier than it sounds. From concept to design to distribution and finally to tracking the results….once you’ve tried it and found some success you’ll be able to increase your sales and broaden your advertising.

Be as busy as you want to be.

Limited Time for Motivation

A limited time offer can often move the skeptic and procrastinator from prospect to customer. Because putting a drop dead date on an offer frequently will move that hesitant person to action. If there is only a short time to take advantage of a special opportunity – often you will enjoy more response. People will do something vs. doing nothing. Rather than wait until they feel good, are more comfortable … whatever “excuse” they were thinking … they move. In essence, a limited time offer will entice your prospect into action for fear of loosing this unique opportunity. You have to give them a reason to buy your product, and a time constraint could just be the little extra motivator you might need to get your prospects over that decision-making hump.

Send out a postcard or flyer to your existing clients with a limited time offer that rewards them for being loyal customers. You can also send out a postcard or flyer to areas around your business with the same kind of offer to attract new customers. This kind of direct marketing is easy to track and very cost effective!

Tip Courtesy of Melissa Data

I found this at ted.com and find it very interesting…take a look.

Media and advertising companies still use the same old demographics to understand audiences, but they’re becoming increasingly harder to track online, says media researcher Johanna Blakley. As social media outgrows traditional media, and women users outnumber men, Blakley explains what changes are in store for the future of media.

Link is here

1. You don’t have to advertise like a Big Business. Design your advertising to produce sales …now. One way to accomplish this is to always include an offer in your advertising – and an easy way for prospective customers to respond to it.
2. Offer a Cheaper Version – Some prospective customers are not willing to pay the asking price for your product or service. Others are more interested in paying a low price than in getting the best quality. You can avoid losing sales to many of these customers by offering a smaller or stripped down version of your product or service at a lower price.
3. Offer a Premium Version – Not all customers are looking for a cheap price. Many are willing to pay a higher price to get a premium product or service. You can boost your average size sale and your total revenue by offering a more comprehensive product or service …or by combining several products or services in a special premium package offer for a higher price.
4. Try Some Unusual Marketing Methods - Look for some unconventional marketing methods your competitors are overlooking. You may discover some highly profitable ways to generate sales and avoid competition. For example, print your best small ad on a postcard and mail it to prospects in your targeted market. A small ad on a postcard can drive a high volume of traffic to your website or generate a flood of sales leads for a very small cost.
5. Trim Your Ads – Reduce the size of your ads so you can run more ads for the same cost. You may even be surprised to find that some of your short ads generate a better response than their longer versions.
6. Set up Joint Promotions with Other Small Businesses – Contact some non-competing small businesses serving customers in your market. Offer to publicize their products or services to your customers in exchange for their publicizing your services to their customers. This usually produces a large number of sales for a very low cost.
7. Take Advantage of Your Customers – Your customers already know and trust you. It’s easier to get more business from them than to get any business from somebody who never bought from you. Take advantage of this by creating some special deals just for your existing customers …and announce new products and services to them before you announce them to the general market.

Also, convert your customers into publicity agents for your business. Develop an incentive for them to tell associates and friends about the value of your products or services. An endorsement from them is more effective than any amount of advertising – and it is much cheaper.

Let’s work together to help you get the message and tools you need to help your business grow.

Do: Use direct mail as part of your regular marketing because it is one of the most cost effective ways to reach your target audience.
Do: Make your direct mail simple and easy to read. It can be as inexpensive to produce as postcard or flyer, or as elaborate as a 4-color gift box with a promotional product inside, but whatever you choose to send, get your message across quickly and concisely.
Do: Make sure your direct mail goes to an updated mailing list or, if un-addressed, to areas you think will bring you your greatest return.
Do: Measure the success of your direct mail’s effectiveness by tracking the number of inbound calls or walk-ins. Also track how many of those potential clients become clients.

Don’t: Don’t try to send direct mail by yourself if your time is valuable and you have too many pieces to send (almost always).You can easily spend a full day producing, printing, folding, stuffing, and stamping 250 to 500 letters, and then dropping them off at the Post Office (not quite in time for the last pickup).
Don’t: Judge the success of your campaign by the response you get from ONE attempt. Tweak your message, try a new offer – direct mail should be tested 2 or 3 times to really get a measure of it’s success.

Check out our new Promotional Product supplier – Bullet – http://bamboomarketing.mybulletline.com/ Great products, pricing and service. We can help you find the best product at the right price to make sure your promotion is a great success.

Good tips here – http://marketing.about.com/od/marketingtipsandadvice/a/nocostmktg.htm I’ve been to networking events every week over the last month and have made some excellent contacts. It works for me! See item number 3 as well. I find that our dynamic business card elicits positive feedback when people get it.

Went to a Fastlane networking event at the Ultra Supper Club Patio last night. It was a productive night and met quite a few good people and, hopefully, a few new clients. I really find those types of events good for prospecting and am looking to do more of them.

Just starting work for Cap 10 Solutions, GTA Parent – http://www.gtaparent.com/ and http://www.momentrepreneursnetwork.com/ A great place for small businesses and entrepreneurs to gather, learn and grow their business. Looking forward to working with you Marty and Leigh!