Captive Agents who Have Used in House DM

[TheCaspian]

Has anyone used in house DM marketing? I'm at NYL, but I'm sure NWM and MassM have similar programs

New York Life calls their program Market On Demand, which is basically a mailhouse with preapproved material...I feel like its too overpriced (63 cents a postcard) but I was wondering if anyone had any success with big, captive driven advertising

 

[geoagency]

I'm a captive agent. I don't use direct mail because it yields a 1% return at best. Unless it was a niche market for a specific product. I wouldn't do it.

 

[WCMason]

I'm a captive agent. I don't use direct mail because it yields a 1% return at best. Unless it was a niche market for a specific product. I wouldn't do it.

Other than those who have been in the business long enough to transition to all or almost all referrals, DM is the most likely path to success from all I've picked up on this forum and elsewhere (including my own experience). I get better than 1% response on my DM, but it only takes 1% for those who close a high pct. of that 1% to do very well.

 

[geoagency]

Most likely path to success? Over internet leads which close at 7-12% or live transfers that close at 30-40%. My company fully funds directly mail and I don't even send it. It's not worth the ink on the paper.

 

[WCMason]

Most likely path to success? Over internet leads which close at 7-12% or live transfers that close at 30-40%. My company fully funds directly mail and I don't even send it. It's not worth the ink on the paper.

Yes. Over both of those things.

 

[MPCFinPlan]

Has anyone used in house DM marketing? I'm at NYL, but I'm sure NWM and MassM have similar programs New York Life calls their program Market On Demand, which is basically a mailhouse with preapproved material...I feel like its too overpriced (63 cents a postcard) but I was wondering if anyone had any success with big, captive driven advertising

63 cents? That's steep for captive.

I am captive with Modern Woodmen (contemplating going Indy) and they do mail for 12 cents a piece..

 

[dstrack]

Big captive driven advertising is mostly a complete waste of time and money for the agents. What I have seen was not well written as a direct response piece. Its more of a name recognition branding piece which does you no good. It doesn't compel people to buy. Thats why you'll see a low response rate and unmotivated prospects that actually do respond.

There is no perfect marketing medium. All can work great if done correctly. Internet, DM, telemarketing….. Problem is very few companies are.

If you are doing an average run of the mill mail house postcard "look at our awesome plans… Need insurance?... Want a lower rate?" then yeah its not worth a crap. Just like tele-market leads from someone who can't qualify a prospect.

Most who say DM doesn't work just don't know what they are doing with it. I will take DM over any other marketing method out there if I had to pick only one (which you should always have more then one marketing method). Nothing scales like DM. If the ROI works just keep doing more!

That said I wouldn't waste the money on an in house mailer. Unless they really know what they are doing and have proven results. I am not familiar with exactly what NYL is doing but 99% of the companies that do direct mail have no clue what they are doing.

You would be much better off hiring a true professional to create a custom campaign for you which will cost upwards of $7,000-$10,000 just to create, I am not talking about the typical mail house template campaign that almost everyone uses then bitches about a crap 1% response, which 1% is fine as long as the ROI works. Or do like I did and start reading everything you can and do it your self.

 

[TheCaspian]

Yea I chose not to participate. Doing well with referrals and aged leads right now

 

[MPCFinPlan]

Big captive driven advertising is mostly a complete waste of time and money for the agents. What I have seen was not well written as a direct response piece. Its more of a name recognition branding piece which does you no good. It doesn't compel people to buy. Thats why you'll see a low response rate and unmotivated prospects that actually do respond. There is no perfect marketing medium. All can work great if done correctly. Internet, DM, telemarketing..... Problem is very few companies are. If you are doing an average run of the mill mail house postcard "look at our awesome plans... Need insurance?... Want a lower rate?" then yeah its not worth a crap. Just like tele-market leads from someone who can't qualify a prospect. Most who say DM doesn't work just don't know what they are doing with it. I will take DM over any other marketing method out there if I had to pick only one (which you should always have more then one marketing method). Nothing scales like DM. If the ROI works just keep doing more! That said I wouldn't waste the money on an in house mailer. Unless they really know what they are doing and have proven results. I am not familiar with exactly what NYL is doing but 99% of the companies that do direct mail have no clue what they are doing. You would be much better off hiring a true professional to create a custom campaign for you which will cost upwards of $7,000-$10,000 just to create, I am not talking about the typical mail house template campaign that almost everyone uses then bitches about a crap 1% response, which 1% is fine as long as the ROI works. Or do like I did and start reading everything you can and do it your self.

Which mailer do you use?

 

[dstrack]

I engineered, designed, and wrote my own.