The Advantages of Direct Mail for Financial Advisors
It’s 2023, are people still using direct mail in their marketing campaigns? The answer is yes because direct mail continues to deliver fantastic results for financial advisors (excuse the pun). Any other marketing channel has not matched the benefits of direct mail. Direct mail is highly targeted, so you know exactly what people interact with your campaign. Other marketing channels don’t allow for this kind of precision and results. According to Small Business Trends, 42% of mail recipients read or scanned mail pieces. The average return on investment for direct mail is also high at 18-20 percent. The precision, ROI, and personalization of direct mail are why financial advisors all around the country are still seeing amazing campaign results.
Direct mail allows financial advisors to pinpoint exactly who receives their marketing campaigns. This ensures high-quality prospects will interact with your campaign at all levels. Locate the people in your area that have the most potential to become your favorite client. One way to ensure you target the right people with your direct mail is by using Prospectix. Prospectix is our software that allows you to target your ideal clients. Prospectix identifies your qualified individual audience members as they engage with you and others. Our consumer database then enables you to better target and manage your qualified prospect universe. Without Prospectix, advisors can waste valuable marketing dollars on prospects that do not fit their vision of an ideal client.
Direct mail also has high conversion rates for financial advisors. LeadJIg + Acquire Direct has seen an average response rate of 1% from our mailers, higher than the industry average. With high response and attendance rates, advisors can easily achieve a high ROI on their campaigns. The right attendees at your event have the potential to provide hundreds of thousands of dollars in commission if they become customers.
Direct mail can also be a cost-effective way to reach potential clients. Direct mail can be much more targeted and efficient than other forms of advertising, such as TV or print ads. By focusing your efforts on a specific audience, you can reduce your advertising costs and maximize your return on investment.
Direct mail allows for a personal touch to your marketing message. By using targeted lists and segmentation, you can tailor your message to each prospect’s specific needs and interests. This can help you to establish a more personal connection with potential clients, and increase the chances of conversion.
Additionally, depending on the mail piece used, you can include the names and cities of prospects within the mail piece. This gives the prospects the impression that they are essential to you. Personalization lets your target market know you thought of them specifically and that they are not just another number to you. However, if personalizing a mailer from scratch seems intimidating, LeadJig + Acquire Direct has hundreds of “proven winner” designs to choose from. These designs have a strong history of high response rates and conversions.
LeadJig Can Help
Direct mail can be a powerful tool for financial advisors looking to grow their businesses. People are still paying attention to direct mail, and so should you.
At LeadJig, we can help you with all your direct marketing needs. Contact us for more information about our financial marketing services and how our financial advisor marketing platform can generate leads and increase your customer base.