As any marketing professional knows, creating a promotional campaign takes time, effort and money – so the last thing you want to do is make a mistake that renders your campaign ineffective. We’re not talking about obvious mistakes like proofreading errors or missed deadlines (although those should be avoided at all costs, too!), but rather the broader, more strategic-based missteps that plague so many marketing departments. Read on to discover five common marketing mistakes – and what you can do to avoid them.
Mistake #1: Failing to stand out in the mailbox.
When it comes to direct mail marketing, you probably spend an immense amount of time focusing on the design and copy of your pieces. But how much time do you spend strategizing about the actual, physical piece itself? There are a lot of options – letters, postcards, etc. – and what you choose could have a significant impact on the success of your campaign. When in doubt, choose the option that will best stand out in the mailbox. Bigger-than-average postcards or oddly-shaped pieces set themselves apart from the crowd and have a better chance at surviving the mail sort.
Mistake #2: Ignoring the need to provide a compelling offer.
If you want to see an immediate impact from your marketing efforts, be sure your promotion includes a strong offer. While it is important, of course, to share the key features of the product or service you’re promoting, remember that it is the quality of the offer that will largely dictate the overall response rate of your campaign. Give your audience a reason to take action with incentives such as a limited-time rate discount, gift card, cash back or entry into a giveaway.
Mistake #3: Not giving recipients a reason to hold onto your marketing piece.
There’s a natural instinct when spending money on a marketing piece to use every last inch of space to promote your financial institution. Might as well get your money’s worth, right? Well, actually, you might be wrong in thinking that way. You’re probably better off sacrificing some of the space to provide an item of value – one that will motivate audience members to hold onto the piece. You may want to consider sharing a tasty recipe, coupon or fridge-friendly magnet that includes your logo and contact information. Whatever you can do to keep your piece (or at least a portion of it) out of the trash and in front of your target market will be to your benefit.
Mistake #4: Forgetting to explain financial terms.
After working in the financial industry for some time, it can be easy to forget that members of the general public may not be aware of all the industry jargon that has become second nature to you. Acronyms, in particular (like APR, APY, HELOC, etc.), can be sources of confusion for some people, so be sure to define or explain any potentially puzzling terms for your readers. It would be a shame to lose a marketing opportunity simply because your readers can’t understand what you’re trying to say.
Mistake #5: Choosing images that don’t reflect your target audience.
It seems marketing campaigns almost always contain images of young people – but that doesn’t mean such imagery is always the way to go. For example, if you’re promoting an elite checking account that is typically opened by older individuals (as they’re most likely to have the resources needed to meet the account’s strict requirements), an image of a young person probably won’t resonate with them as strongly as an image of someone who reflects their demographic. Always know who your target audience is, and choose your images accordingly.
Now it’s your turn: Are there any marketing mistakes that you see over and over, or that you try hard to avoid? We’d love to hear from you, so share your thoughts in the comments section below!
Resources:
https://www.webdevelopmentgroup.com/2016/03/how-to-be-successful-with-direct-marketing/