I'm an insurance agent that has been trying to masquerade as a marketer for the past 11 years. I've had decent success with my current strategy, but know that the results should be much better.
I'm looking for help in optimizing my direct mail campaign. Currently our response rate is between 0.3% - 0.5%, which is far from good.
We are targeting business owners in the senior living field. The data we pull comes from public record and typically has the name of the business, address, etc, but only includes owner/contact names about 25% of the time and we don't know if they are correct.
Our expertise in this particular niche allows us to offer a product that is 25% - 30% lower than most of the competition through exclusive contracts with providers. Over the past 11 years, we've been able to build up a client base of around 600 of these types of businesses, so we know their industry inside and out and can demonstrate immediate value when we get the decision maker on the phone.
I know if we can get our foot in the door and have a conversation, our current close rate is about 65%. We are just having trouble getting the desired response rate.
We've revised our mailer 8-10 times over the past 5 years, but it tends to perform the same at around 0.3 - 0.5% response. Below is the most current version.
A couple of notes:
- We have a live stamp on the envelope, but due to restrictions with bulk mail, we are required to also print a barcode on the envelope, which probably tips off the gatekeeper that it is a solicitation.
- This industry tends to be a little behind the technology curve, which is why we include a fax back form along with our email and website options.
- Generally I can give somebody an idea if we can improve their situation within 2-3 minutes over the phone. I don't know how to convey that in the marketing piece, or if it would be worth it.
- I don't currently have a way of finding out the owner's name unless it is included in the public record, which is only 25% of the time. I've hired freelancers to data mine the list, but I get very spotty results.
- I hope there is some decent brand recognition since the same 15,000 businesses have been receiving mailers from us for years.
- Aside from the landing pages, we don't proactively market online to these businesses. I just don't really know where to start.
Any thoughts or ideas on what we could do to improve?