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I'm trying to get my return rate up on my postage paid reply cards. What used to get 1 1/2 -2 % return is down to 1/2 %. Any sugestions ? Products FE and Med Supp.
Mailing Return Rates
- Thread starter Insuranceman
- Start date
- 321
What is your Call to Action?
I quit doing direct mail about a year ago because response rates plummetted. Of course, I was mailing for homeowners policies to people who bought a home in the last 5 years, which turned out to be the same ones that were in foreclosure. It didn't take long to figure that one out.
A few lessons I learned though:
- Process your list through NCOA (National Change of Address). If you are not doing this currently, you'll be amazed at how many of your mailings are not going to the right place. I use listcleanup.com for this, they are the least expensive I have found.
- Ask some of the clients that respond a few questions about what made them respond. How many others did they get? What made your letter stand out a bit? How much other mail do they get? etc. You'll be amazed at what you learn. Listen closely. Realize many will think you sent them mailings that in fact came from somewhere else.
- Realize people are not using mail like they used to. My bills don't come in the mail anymore, I get no personal letters anymore (which is why I know a hand addressed envelope is junk mail). Heck, even bank statements don't come in the mail (not that I've opened one in 5 years anyway). Mail used to be a compelling think in a household. It just isn't anymore.
Direct mail can still be a very good way to market, you just have to be very careful on your mailings.
Dan
A few lessons I learned though:
- Process your list through NCOA (National Change of Address). If you are not doing this currently, you'll be amazed at how many of your mailings are not going to the right place. I use listcleanup.com for this, they are the least expensive I have found.
- Ask some of the clients that respond a few questions about what made them respond. How many others did they get? What made your letter stand out a bit? How much other mail do they get? etc. You'll be amazed at what you learn. Listen closely. Realize many will think you sent them mailings that in fact came from somewhere else.
- Realize people are not using mail like they used to. My bills don't come in the mail anymore, I get no personal letters anymore (which is why I know a hand addressed envelope is junk mail). Heck, even bank statements don't come in the mail (not that I've opened one in 5 years anyway). Mail used to be a compelling think in a household. It just isn't anymore.
Direct mail can still be a very good way to market, you just have to be very careful on your mailings.
Dan
- 709
CIS is advertising 2-3% return rates on FE & Med Supp and will GUARANTEE a return rate. 1-800-547-5478 www.cismarketing.com.
I just received an email from Value Mailing claiming a response rate of 2.5% in Calif for FE. Postcard is @ Social Security benefit so lead is not strong. 1-800-881-7605
www.valuemailing.com.
From the CIS website:
Response Rates
CIS maintains computer records of responses generated from its Express Lead mailer program and would be pleased to share this information with you prior to the placement of an order. CIS makes no representation, warranty or guarantee however, as to the response rate or revenue that may be generated from an order.
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You also may want to check out Kramer Direct. They say they keep track of the response rates for the different mailers they produce, so you can check with them to see if they have a particular mailing piece that is pulling in better response rates.
- 7,066
I can't speak to the success of FE mailers, I've never done them, but I know a whole lot about Med Supp mail drops. I have sent out thousands in the past with all kinds of different verbiage.
One will send out a thousand, get ten to fifteen back, maybe. That puts the cost at around $30 each. When the agent calls they either have no recollection of sending the card in or will not admit to it. That's thirty bucks to hear someone make disparaging comments about one's heritage.
Or, the agent can buy a list, call the prospect and hear the same disparaging comments for only pennies per name.
Med Supps are the easiest kind of insurance to prospect for. Direct mail leads are, in my humble opinion, the absolute most worst and most expensive way to secure new clients.
If an agent learns to prospect he will work less time and make more money than the agent who is relying on direct mail leads to sell Med Supps.
If an agent feels that he must have a "lead", the very best "leads" to work are the "old", "no good", "not interested" ones that no one else wants. When prospecting for Med Supps the older they are the better. Three to eighteen months old would be perfect.
If any agent is throwing away their old, no good, not interested "leads" then please throw them my way. I started my career working the ones that other agents said were "no good".
One will send out a thousand, get ten to fifteen back, maybe. That puts the cost at around $30 each. When the agent calls they either have no recollection of sending the card in or will not admit to it. That's thirty bucks to hear someone make disparaging comments about one's heritage.
Or, the agent can buy a list, call the prospect and hear the same disparaging comments for only pennies per name.
Med Supps are the easiest kind of insurance to prospect for. Direct mail leads are, in my humble opinion, the absolute most worst and most expensive way to secure new clients.
If an agent learns to prospect he will work less time and make more money than the agent who is relying on direct mail leads to sell Med Supps.
If an agent feels that he must have a "lead", the very best "leads" to work are the "old", "no good", "not interested" ones that no one else wants. When prospecting for Med Supps the older they are the better. Three to eighteen months old would be perfect.
If any agent is throwing away their old, no good, not interested "leads" then please throw them my way. I started my career working the ones that other agents said were "no good".
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