Budgeting for Success
Almost every company has felt the effects of the recession for the past 2+ years. Unfortunately, when the economy is sputtering, the marketing budget is typically one of the first areas to be reduced.
Most marketers were forced to spend less, and what little was left of their budget was put into the cheapest advertising available, mostly email. As a result of this, the average consumer now receives 14–15 marketing related emails per day. As budgets are beginning to increase, many companies are still sticking with this one channel approach. The overall result of this huge increase in electronic marketing has been that consumers have become “delete happy” in order to reduce the amount of mail in their In-Box… that’s if your email even gets past their spam blocker.
The recession has taught every Wall Street investor the benefits of diversifying. The same is true in marketing. Recent studies have shown that 80% of consumers rely on more than one form of marketing when making a purchase decision.
When it comes to marketing, direct mail is a proven winner, and right now is the ideal time to get back into the game. Most forms of advertising, direct mail included, have been reduced due to the economy. The average household receives 16 pieces of advertising related mail per week. With the volume of mail down, now is an excellent time to get your advertising into the hands of your prospects. Consumers are still spending the same overall amount of time reading their mail. With less competition, consumers are devoting more time to each piece of mail they receive. More time spent with your advertising material translates into increased sales. Direct mail offers you the unique opportunity to get your advertising (or even a sample of your product) directly into the hands (literally) of your prospective customers.
While the economic recovery has been slow, it is starting to show signs of life; and once the economy is humming again, a golden opportunity will have past. With your prospects receiving less mail, now is the time to use mail to establish relationships with these new prospects before your competition does.
If you’re attacking your market from multiple positions and your competition isn’t, you have all the advantage and it will show up in your increased success and income. — Jay Abraham
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If you’d like to discuss ways to get more out of your marketing budget, call FNBR Inc. at 888-988-8148 or send us an email at firstname.lastname@example.org