While many marketers continue their search for the next-best, latest-and-greatest media tactic to get the word out about their product or service, others are holding their ground and staying true to traditional methods.
Direct marketing is making a comeback and now considered the “new black” in the marketing world, despite the opportunity new marketing methods like social media may bring to the table.
In a recent column at BtoB Magazine, Scott Hornstein, president of marketing, Hornstein Associates, and CMO, Wired Assets Data Corp., shares his expert insight as to why you should be putting what’s left of your budget into direct marketing.
“These are the times that try marketers’ souls. On the other hand, this is not the time to hide or be timid. It is the time to be effective, and to redeploy the majority of what’s left of your marketing budget into direct marketing for one very good reason: The strategy is, at its core, measurable and ROI-driven.”
He says there are six critical factors that will lead to direct marketing success:
- Integrating direct marketing into your overall media mix. Your customers don’t all hang out in the same place, so reinforce your message across a variety of media tools.
- Integrating a healthy dose of customer care. “Our carefully crafted brands can be blown up in three minutes of poor customer care.”
- Invest in database quality. The success of your marketing is only as good as your list.
- Account for everything, but report only key metrics. Pay attention to what matters most.
- Measure performance and set aggressive standards. “Each direct marketing effort should achieve at least a 10% response rate.”
- Measure the expense to revenue ratio. If it’s over 25% you’re spending too much, go back and fix your process.
What do you think? Should we take another look at the tried-and-true marketing methods like direct marketing because they are so measurable and ROI-driven? Are economic tough times forcing your organization to trend this way?
Please leave a comment and let us know.