As a business owners look to squeeze every last drop out of their marketing dollars, I’m here to shed some light on a topic that gets rarely talked about. Nowadays all you hear when people talk about marketing are the digital channels and mobile compatibility. While I am all for these conversations, there is an entire category that is routinely ignored: Print marketing.
For too long marketing professionals have been enamored with the digital world. Why? Well, it’s because of how cheap a digital marketing campaign be implemented and how easy it is to track. What they aren’t telling you about all this, however, is the fact that you aren’t getting the best bang for your buck in the long run.
Here are some statistics from the 2015 Direct Marketing Association Response Report to help shed light on this whole matter.
Direct Mail Response Rates Outperform Digital Channels by a Long Shot
This is one of the biggest false truths that business owners repeatedly fall prey too. They think that digital and mobile marketing is the best option because that is all that is ever discussed.
The numbers are pretty overwhelming in favor of Direct mail.
Direct mail achieves a 3.7% response rate with a house list, and a 1.0% response rate with a prospect list. All digital channels combined only achieve a 0.62% response rate (Mobile 0.2%; Email 0.1% for a Prospect list and 0.1% for House/Total list; Social Media 0.1%; Paid Search 0.1%; Display Advertising 0.02%).
Cost-Per-Acquisition is Almost Identical
When you look at how much the average business owner needs to spend in order to acquire a new customer or client, direct mail comes in at almost the same levels as the digital channels.
Direct mail stands at $19, which fares favorably with Mobile and Social Media (both at $16-18), Paid Search ($21-30), Internet Display ($41-50) and even email ($11-15).
When you combine these numbers with the response rates, you are very clearly getting your best return on investment (ROI) by using direct mail.
Use Multi-Channel Marketing Strategies
Just because I am focusing on the strengths of direct mail and print marketing it doesn’t mean I think this is all a business should utilize. In order to fully realize a successful marketing campaign, a business should be using a combination of at least 2-3 different channels.
44% of the businesses use three or more channels for their marketing efforts. In these instances, the most popular channels tend to be email, direct mail and social media.
What is the point of this post? Well it’s to make you think about where your money is going. There is no denying the fact that direct mail and other forms of physical marketing have higher up-front costs and require more effort to track a campaign’s effectiveness. But, you also need to understand that you are paying for more effective marketing.
No matter how far we advance in the digital age, for the foreseeable future there will be advantages to using physical marketing, you just need to be aware of what they are.
See more about the report at: http://www.iwco.com/blog/2015/04/14/dma-response-rate-report-and-direct-mail/