Beware of ignoring one of the worst forms of marketing for accountancy firms?!
Our recent marketing audit of 102 firms’ marketing activity showed direct mail to be one of the two worst sources of converted leads.
You’d think, therefore, you should never use direct mail? Thing is you might just be wrong.
A study conducted by the Direct Marketing Association (DMA) in April 2013 found that the response rate for direct mail to an existing customer averages at 3.4%, compared to 0.12% for email.
This makes direct mail 28 times more effective than email marketing to your existing clients – according to the DMA.
One accountancy firm we consult with has used a direct mail plan to a small highly focussed list to good effect. It has resulted in new client fees at least 4 times the hard costs of the direct mail efforts
Chances are direct mail proved to be one of the worst two sources of leads for accountants in our survey because no one is using direct mail – we have yet to check this out.
But does anyone really want to receive direct mail?
According to Central Mailing Services 2013 infographic on direct mail statistics, a whopping 48% of the UK population has responded to direct mail over the past year. Add to that statistics that show 62% of people like to receive offers via mail and 56% of people welcome mail that provides useful information, direct mail sounds like a brighter option than you may have thought 2 minutes ago.
These stats are pulled from the following article:
The article also points to the decline in results of email marketing – and the article has helped convince my team at Remarkable Practice to plan a regional direct mail plan for our Business Bitesize service in 2014.
It also points to an integrated approach to marketing – using electronic forms of marketing WITH direct mail.
If you’re wondering about the merits you’ll enjoy this brief but relevant article.
I’m seriously curious now about how well direct mail has worked for your firm?
In what ways have you seen direct mail succeed or fail in your accountancy firm?
How have you integrated electronic and other forms of marketing your firm?
Creator of ‘Business Bitesize’ – cultivating a greater flow of new clients for your accountancy firm through profitable word-of-mouth –https://remarkablepractice.com/businessbitesize
Author of ‘Bamboo Marketing For Accountants’ – the route map to marketing success for accountants in practice – http://www.bamboomarketingforaccountants.com/
And let’s get LinkedIn http://www.linkedin.com/in/paulshrimpling