Should You Use Direct Mail for Annuity Marketing?
People are so used to junk mail that they’re often disappointed when their mailbox is empty! As much as they like to complain, everyone wants to have something in their mailbox when they get home at the end of the day. As an annuity agent, you may have heard that direct mail campaigns are a great way to reach potential clients and good for annuity marketing. Of course, as with any advertising medium, direct mail has its pros and cons. However, many annuities agents have found that this annuity lead generating method offers some of the best return on investment for your money. The following are some of the advantages of annuity direct mail campaigns:
1. You can target your advertising. Annuity agents get their leads from various sources – for example, you can target all new home buyers in your area with a direct mail piece that emphasizes annuities with guaranteed payments as a way to ensure they’ll always be able to make their mortgage payments, even if they’re unable to work. You can also target a certain income, age or area, depending on the type of annuity leads you desire.
2. Annuity direct mail campaigns are easy to measure. Finding out how many people saw an ad in the newspaper or on television is nearly impossible to measure, but studies show that most people will look at a direct mail piece, even if they later throw it away. Even this single look-through is enough to fix the image is in their minds. In addition, you can measure response of the piece by including a coupon or an offer for a free gift if they make an appointment with you. In general, the response rate for direct mail is about one percent – not bad for most forms of advertising and a staple of annuity marketing.
3. You can be creative with direct mail. You can incorporate colorful, eye-catching graphics into your piece, or send it in an envelope to stand out from the many direct mail postcards floating around out there. You can put together an educational newsletter that offers prospects quality information in addition to your annuity sales message. Best of all, you can incorporate different messages into each piece, and send them sequentially as part of a targeted drip marketing campaign.
4. While annuity direct mail may seem expensive up front, it’s relatively high return on investment means that the cost is actually low compared to other forms of advertising, like TV or radio ads.
When planning direct mail for your annuity marketing campaign, you should consider several factors:
• It’s always best to use a professional copywriter and/or graphic designer to create your direct mail pieces. You want to put your best foot forward, so include their fees in your direct mail budget.
• Make sure your message is clear on your direct mail piece. Many people don’t understand what annuities are, and because you’re licensed to sell insurance, they may think of an annuity as life insurance. Be very specific about your product’s benefits. A jazzy piece will do you no good if you’re getting calls from people who want something other than what you offer.
• Save money by using bulk mail. All you need to do to take advantage of these discounted rates is get a free permit from the post office that allows you to use bulk rates.
• Consider using a dip annuity marketing campaign, where you send targeted direct mail pieces during certain intervals. For example, you might send out different pieces at an interval of one month each. Each piece should look different and should focus on a different aspect of your sales message. Because most consumers have to see a message seven to ten times before they actually make a decision, this will keep your name in front of potential customers until they’re ready to buy.
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Tags: annuity marketing
May 4th, 2009 at 7:04 pm
Offline Direct Mail Marketing is definately one way to market to the Annuity Market. However we have also seen good responses through targeted emailblasts and Co-registration.
June 20th, 2009 at 2:15 am
Offline Direct Mail Marketing is very effective. I love reading Offline Direct Mail then Online Marketing. But In most of offline mails, information is a bit lack. But most of us give more regard to Offline direct mail than mail.
June 21st, 2009 at 10:36 am
The greatest advantage of using offline marketing over online marketing, is that offline marketing is perceived as being more trustworthy. Online marketing often ends up being labeled as ’spam’, being read by next to no-one, whereas ‘real’ physical mailing tends to make a person feel important. It works.
July 27th, 2009 at 3:27 am
I agee, if I receive what is obviously spam in my emails then I don’t even bother to open it, I just delete it. Whereas if I receive real junk through the postal service, I always have a look through just in case it is anything interesting and I don’t want to miss out.
July 28th, 2009 at 6:41 am
To establish trust I would rather go for the offline marketing option. Online marketing should just be used to support the leads you generate through offline and maintain them. Great Post!
January 3rd, 2010 at 4:42 am
i always agree Be Annuity Marketing Smart - Use Science Instead of Art in Direct Mail. … saleman who specializes in annuity marketing, both online and offline. … Insurance Made Easy ·
February 7th, 2010 at 9:15 pm
online and offline marketing have different strengths and weaknesses but it is the unique ability for marketing managers to balance the many different channels and create the correct mix. Thank you for your post as it very informative.