If you operate a business using mailing lists, consumer mailing lists, opportunity seeker mailing lists or MLM mailing lists to target Opportunity Seekers, Business Opportunity Seekers, MLM Opportunity Seekers and Home Based Business Opportunity Seekers, you can benefit from reading this article.
4 EASY WAYS TO CUT THE COST OF INQUIRIES... LEADS!
Your objective in an inquiry advertising program (the two-step advertising method) is to balance an advertising/fulfillment cost per inquiry and an order conversion rate at levels that result in your profitably bringing on new customers. Since most inquiry advertisers fulfill inquiry requests promptly by first- class mail, the recent postal rate increase further adds to the spiraling cost burden the Mail Order advertiser must overcome in meeting his or her objective. Here are several suggestions on how you can cope with inflation in your inquiry advertising program: Weed out useless inquiry responses. Testing shows there is no real difference between postcard and letter inquiries; between handwritten and typed inquiries. Inquiries should not be ignored based on differences. However, over the course of a year, you can save in mailing costs by disregarding the following types of inquiry responses: Those which only supply initials in place of first and last names. Here are your true curiosity seekers/coupon clippers. Those that ignore the ad's request for stamp or coin. Can such free-loaders be expected to shell out $30-$40 for the product? Those that omit certain requested information, such as company name or telephone number. Never assume these are oversights of the respondents. Duplicate and triplicate responses - which can account for 10% to 15% of your overall responses if you advertise in many different publications and/or repeat often in same publication. Here you will require some type of control system to avoid mailing same offer two or three times to certain inquirers within a short term period. Such systems may consist of a computer print-out of recent inquirers in zip sequence, the filing of inquiry request envelopes in zip sequence, or the posting of inquiry names by State to a log book. Improve the overall quality of your inquiry requests. There are two old sayings in Mail Order on the subject of inquiry advertising:
Inquiry ads which produce the most responses will normally produce the most orders.
Never charge for sales information, as retailers do not charge potential customers when entering their stores.
Today, one cannot necessarily abide by these one-time pearls of wisdom. The first saying may not be true because misleading or unqualified ads tend to produce the heaviest inquiry response, but not necessarily the most orders. More importantly, where the delivered cost of a decent sales package now ranges from 30 cents to $1 (which you do, in kind when you send out a sales package free to anyone requesting one), most store owners would soon go out of business (as many inquiry advertisers do). The point of all this is that inquiry advertisers are normally best served by running qualified advertisements that tend to produce fewer, but more interested inquiry responses. Ads can be qualified in at least three ways: Be much more specific in copy when offering free information. For example, did you ever see ads that read "Money Making Opportunity. Free Information"? Such ads bring you responses from "dreamers" that have no idea, but are just curious about what the offer might be. If the "opportunity" turns out to cost more than $2, you can write off 99% of your responses. Instead, say in the ad, if such is the case, "Sell Business Books by Mail. Free Information." In this way, you will at least attract individuals who might want to sell business books by mail. At the same time, you will eliminate many of the "dreamers" by eliminating the mystery from the copy. Request a coin or stamp in the ad. Yes, inquiry response will decrease. However, if your offer is clear and the product is unique, you will attract extremely interested prospects, while partially or fully offsetting the cost of your sales material in the mail. (Many advertisers prefer requesting a SASE – self-addressed, stamped envelope – instead). Something worth testing, but you will probably receive envelope sizes you cannot use, and prospects tend to be more impressed when the information arrives in the firm's business envelope.) Offer some related product sample for a $1. It should be an item worth more than $1, but one that costs you no more than $1, in the mail along with your sales literature. This will eliminate your mailing costs while doing business with prospects that have no aversion to remitting a check or a bill for something of interest. If you are also a Direct Mailer, you can substantially reduce the cost of printing your inquiry sales package. Most inquiry advertisers print a few thousand of each of their sales package components at one time, normally a two or three month supply of material. If you also use Direct Mail to reach prospects with a similar sales package, you can save 50% or more on the printing of most of your inquiry sales package. Here's how: Assume you are scheduling a 10,000-name Direct Mailing. For inquiry advertising, you use the same outer envelope, sales brochure, and return envelope that go into the Direct Mail package.
Order 13,000 of each of the above pieces - keeping the extra 3,000 of each for your inquiry advertising program. Because these additional pieces are part of a volume printing order, they will cost you significantly less per unit than what you would normally pay for a separate, smaller run.
Reduce the size of your space advertisements. Generally, inquiry advertisers use too much space in display ads to bring in prospects, and consequently realize an advertising cost/inquiry that is much too high to profit with, even after decent order conversion rates. Obviously, many inquiry advertisers assume that by increasing the size of an inquiry ad it becomes more impressive and attracts more attention. Perhaps so, but the added benefits of increased size very rarely match the added cost. Over the years, we have found for inquiry ads offering free details: A 2-inch inquiry ad produces a lower cost/inquiry than a 3-inch ad. A 1 1/2-inch inquiry ad produces a lower cost/inquiry than a 2-inch ad. Two consecutive weekly or monthly inserts of a 1-inch inquiry ad produces a lower cost/inquiry than one insert of a 2- inch ad. For your greatest inflation-fighter, revert to inquiry-producing classified ads wherever possible. In most publications, classified ads produce a significantly lower cost/inquiry than the much more expensive display ads, without loss of quality. Advertisers who normally experience cost/inquiry of $1-$2 through space ads have reported cost/inquiry of 50c-75c for similar free offers using classifieds in the same publication. NOTE: Testing smaller inquiry space ads, and classifieds, presents no problems for the Mail Order newcomer, small Dealer, and the low-profiled insider who has built a prosperous business from such ads. With advertising rates skyrocketing, the firms that will eventually suffer are those larger Mail Order inquiry advertisers that couldn't be bothered running ads smaller than 1/6 page. Some must continually insert up to a full page in many publications each month. When advertising cost/inquiry and consequently cost per customer begins to climb, those firms will try everything – test new copy, sales packages,
etc. –to improve overall results, except test ad size reductions
Consider implementing these tips if you operate a business using mailing lists, consumer mailing lists, opportunity seeker mailing lists or MLM mailing lists to target Opportunity Seekers, Business Opportunity Seekers, MLM Opportunity Seekers and Home Based Business Opportunity Seekers and want to make more money than you are currently making.
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