While many industries have shifted their marketing efforts to become exclusively digital, direct mail remains an effective marketing tool for many financial advisors, and many of our advisors have found success building their brand over time with direct mailers.
One of the biggest reasons to send direct mail is the paper itself. Oftentimes prospects prefer receiving a tactile piece of paper to stick to their fridge, use to take notes, or check off which seminars they’ve attended. In fact, some advisors have gotten calls from prospects several years after the seminar because that direct mail piece was stuck to the side of the fridge. The prospect was just waiting for the right time to call the advisor.
You want to plan your direct mail campaign well in advance. Covisum® Founder and President, Joe Elsasser, CFP®, is a practicing financial advisor in Nebraska. His practice typically does three direct mail campaigns a year, one in early April to mid-May, a smaller one in the summer and a third in the fall. All of the seminars all relatively well attended.
When planning your campaign, try to avoid major religious holidays, big community events, and poor weather conditions.
What Should Be Included On My Mailer?
To keep costs down, consider advertising a few upcoming seminars on one piece by turning it into a schedule with times and locations for all of your upcoming presentations. You want your mailer to arrive two weeks before the first session in the series. Additionally, there are a few things you want to make sure you include in your mailer to build credibility and personality.
- Bio/explanation as to why you’re relevant
- Logistical information
Consider co-branding the piece with your location. Co-branding a series with an educational institution like the local public library, community college or university implies their endorsement and adds weight to your presentation.
To Whom Should I Send the Mailer?
You want to take a close look at key demographics for your target audience. Our advisors typically send their direct mailers to married couples ages 60 to 66. Then you want to draw a radius around each seminar location. This is why it is so important to determine a niche for your financial planning practice. Sending a broad direct mailer to anybody and everybody isn’t very cost-effective and won’t help you get the right people to attend. Narrow your focus and create a strategy for your direct mail campaign.
Can I See a Direct Mail Example?
A subscription to any Covisum software includes a direct mail example, and other marketing materials, available for download within the software. You can start your trial here.
It's important to remember that direct mail isn't a fast start. Direct mail is more effective for long-term brand building. If you’re looking for a quick way to market to attendees, social media is the way to go. However, the best way to market your seminars is by doing direct mail in addition to social media marketing. You’ll create synergy when you reach prospects on multiple platforms with consistent messaging on each.