When marketing to the high net worth market, organizations are sometimes reluctant to engage in direct marketing. However, a properly structured direct marketing program can realize an attractive return on investment and help grow your business.
A well-executed campaign should be targeted, with a personalized, relevant offer. This could be a special reward for meeting with an advisor, an opportunity to hear a renowned industry expert, learning about collectibles for investment purposes or even something that is just for “fun” such as a high-end cooking demonstration or wine tasting. Typically, an organization should test a variety of offers, refining and adjusting depending on response rates.
You should plan to implement a phased strategy, following up on your initial communication with additional waves to boost lead generation and conversion rates. A program that includes multiple touch points, including traditional mail, email and phone contact can boost response and conversion rates.
In the end, direct marketing remains an excellent way to drive prospective clients to your business development team.