More Millionaires than Before; Why Consumers Are Ignoring Direct Mail
Happy Monday and to all the dads, Happy Belated Father’s Day! This week in our recap of the most clicked 50+ marketing items, we discuss millionaire households: how does each generation contribute and how this affects our marketing efforts to seniors. For most shared, we recap why consumers ignore direct mail and how create a successful direct mail campaign.
Most Clicked: Millionaires are Booming in the Past Five Years
800,000. That’s how many more millionaire households there are in the United States compared to five years ago, writes Media Post’s Jack Loechner. There are 1.3 million more millionaire households in the U.S. since 2006.
The annual Wealth & Affluent Monitor, published by the Phoenix Marketing International, finds the overall wealth market is growing. While wealth is more concentrated within the top percentile of US households it is shifting geographically.
“Our research reveals stark geographic, demographic and economic differences within the broad wealth and affluent market, reinforcing the need for more precise segmentation and targeted, relevant messaging,” said David Thompson, Managing Director, Affluent Practice, at Phoenix Marketing International. “The trends we’ve seen over the past 10 years show a deeper and wider wealth divide as families in the near- and emerging affluent segments fall further behind financially.”
And here are the top 10 states:
- Maryland (7.55%)
- Connecticut (7.4%)
- New Jersey (7.39%)
- Hawaii (7.35%)
- Alaska (7.15%)
- Massachusetts (6.98%)
- New Hampshire (6.82%)
- Virginia (6.64%)
- District of Columbia (6.32%)
- Delaware (6.28%)
50+ Marketing Tip: Create a marketing plan with your target demographic in mind. Place print ads in magazines or newspapers that resonates with your target demographic and use focused messaging that reflects your target market, like our ad for Sunset Harbour, a one-of-a-kind waterfront community near Bethany Beach.
Bonus: Go digital! See an even better return on investment when creating a multi-channel marketing campaign with your targeted demographic.
To read the full article, click here: http://ow.ly/2PNZ30cESvd
Most Shared: Consumers Ignoring Direct Mail, Why?
Daniel Burstein from MarketingSherpa asked a series of questions to 2,400 consumers to investigate the whys behind direct mail failure rates and the correlation to the industry the direct mail was promoting.
According to the MarketingSherpa chart below, “They clutter my mailbox because I receive too much direct mail in general,” had the highest response rate, with telecommunications receiving the highest percentage. With the least likely reason being, “I don’t trust their print mail ads/catalogs to provide me with the information I need to make purchase decisions.”
Mr. Burstein then took a deeper dive into this data to see what channels customers we are least likely to disengage from with, “Discard print ads or catalogs” ranking second for most frequently chosen response by unsatisfied consumers and the third highest channel for satisfied consumers.
50+ Marketing Tip: Send a direct mail with strong call to action like an upcoming event or incentive. This helps avoid brand fatigue, while providing information to the consumer.
The article then states, how successful campaigns often involve multi-channel marketing, i/e print and digital. Brand positioning campaigns help drive responses by targeting consumers with 3D items or product samples, then sends consumers to respond via landing page. This gives the consumers a chance to enhance their experience with direct mail and creates personalization digitally.
At Creating Results, our most successful campaigns are often integrated campaigns that include direct mail and digital. We tend to focus our direct mails on strong calls to actions and always use landing pages for the RSVP.
To read more reasons why consumers ignore direct mail here: http://bit.ly/2rNdJvQ