Focus On Profitable Campaigns
Reduce mailing costs by first determining what marketing efforts are most profitable for your business. Conduct a mailing audit to determine how much you spend on marketing each year and measure the return on investment (ROI) from those marketing campaigns. This will help weed out unprofitable marketing channels, allowing you to focus more on profitable marketing channels.
Maximize your efforts by determining the budget for targeted marketing campaigns by estimating your marketing spend per customer acquisition or conversion rate, which is based on your marketing cost divided by customers acquired/converted. For example, suppose you spend $500 marketing via direct mail marketing and only generate a return of $200 profit in the first quarter. In that case, this is not an effective marketing channel for your business that would justify spending any more resources on it during subsequent quarters.
Reduce Mailing Costs
Mailing costs may seem minimal, but they can add up. And spending more than you should on mailing can also impact your ROI. Reduce mailing costs by maintaining a clean database of customers and contacts and only marketing to the right audience.
Marketing to everyone on your mailing list may seem like you’re casting a wider net. However, your efforts and money will be wasted on people who feel your products or services are not relevant to them. The marketing campaign will be more effective when you mail marketing materials to people who are likely to buy your product or service, rather than mailing everyone without determining if they’ve opted in or are part of your target audience.
Improve Marketing Message
Receiving your marketing material is not enough to convince your target audience to buy or take action. If you want to improve marketing campaign ROI, make sure the marketing message resonates with your audience and is compelling enough to motivate action. Improve your marketing message by including a marketing offer, your product benefits, and a convincing call-to-action.
Increase Mail Deliverability
Undeliverable mail not only wastes money but also impacts your marketing efforts. Improve mail deliverability by using clean marketing lists that are targeted to your marketing campaign.
For example, if you’re running a marketing campaign for new mothers, only use the mailing addresses of new mothers who have opted to receive your marketing collateral and avoid using any mailing lists with people who do not fit the demographic.
Most importantly, ensure you’re keeping a clean database of up-to-date addresses to prevent the mail from not being delivered to the intended recipient and being sent back to the sender. The costs of Undeliverable-as-Addressed (UAA) mail, address correction fees, and wrong email addresses can add up. And returned mail, mail delays, high bounce rates, and blacklisting can not only thwart your marketing efforts but also affect your brand reputation.