What You Need to Know About... Direct Mailers

Direct mail campaigns can help retirement plan advisers attract clients—but only if they are targeted at the right audience, are reinforced with phone calls and/or print ads, and include a compelling call to action. If your direct mailer is too plain, too pushy or looks like junk mail, the recipient may toss it without a second thought. But if it offers ideas for helping the recipient, it may prompt action.

The key is to convince plan sponsors that they can benefit from your services, particularly in the wake of new fee disclosure regulations. Here are some tips to get started with a direct mail campaign that could catch the attention of prospective clients or inform current ones of new services:

Determine Distribution Method 

First, decide whether you want to send print mailers, digital mailers or both. Print mailers can be costly but are probably the more effective of the two options for attracting new clients or selling services to present ones, says Tim Troast, director of core product marketing at Pitney Bowes.

“I think both of them have their advantages and disadvantages,” he says, “but when used together, [that] can be the most impactful way to grow your opportunity and customer base. If you really want to get the most bang for your buck, I would say use both vehicles.”

Know Your Audience  

Determine your target audience: Who can benefit most from your services, and how can you benefit from having them as clients? When Bukaty Companies’ Retirement Plan Services implemented a direct mail campaign, it sent mailers to the top 1,500 retirement plans, by asset size, in the company’s surrounding area, says Vincent Morris, president.

Troast suggests customizing your mailer messages to the recipient demographic. For instance, small and large companies would receive differing messages, while the directive to an engineering company would be distinctive from one for a publishing house. 

“The more data you have about the recipient, the more effective you can make the communication,” Troast says. 

Use Colorful Graphics  

Employ color on the outside of the envelope to elicit a call to action, Troast says. “The days of black and white and simple text are behind us.” If you plan to send a postcard rather than an envelope—a great idea, he says, eliminating participants’ need to open something—use color and a glossy finish. Also consider using an abnormal size so the postcard sticks out in a stack of mail.

Encourage Action 

Mailers that lack a direct call to action—or make it difficult to take it—are unlikely to receive high response rates. Be clear on the action you want readers to take. Is it to call you, email, visit your website or return an enclosed response form?

Morris says his company’s mailer included a checklist of action items and called on the prospective clients to contact Bukaty for offers such as free benchmarking. 

Follow Up

A follow-up phone call or email could inspire busy plan sponsors to take action. Bukaty sent its mailers every two weeks during its 14-week campaign. In addition, Morris says, the company simultaneously ran ads in business journals with the same theme as the mailer, as well as outsourced a company to call prospective clients on the mailing list. 

Troast suggests sending a print mailer and following up a few days later with a digital mailer that uses the same design and message.

Hire Outside Help

A mailer with errors is certainly going to grab the attention of your audience—but not in a good way.

This is why it pays to hire a marketing firm that can write compelling copy and create visually appealing mailers, Morris says. “The way those pieces are positioned makes a big difference.” 

Troast agrees and stresses that a mailer is a direct reflection of your company. “Bring in outside talent when you need it,” he says. “You should strive for perfection here.”