[Sammy Cashman]

I would welcome your feedback on email vs. direct mail (versus a combination of the two).

What had your experience been?
What has been the ROI?
Any lessons learned that you care to share?
Vendors used? (good/bad/results?)

I`m exploring options, and would appreciate your comments.

[isaacdstern]

mailchimp used to be the best company to use but they no longer work with any financial companies

[Lenders.Marketing]

As I mentioned before in an earlier post most successful clients in the B2B Loan space are calling of course. If your Marketing budgets are tight then the next common step is to email. Then reinvesting the profits from your calls and emails into your direct mail campaign.

Everyone is attracted to email because it is viewed as inexpensive and easy. True, it is easy to send an email and you don't have to pay postage but you will need a Email broadcasting company that will send your emails out for you and good Business Owner email addresses. Then you need to set up a reoccurring email campaign that has fresh and engaging content.

With Direct Mail, again you need a good mailing list (deliverable, accurate, targeted Business Owners in need of Financial assistance) and a good mail piece. The over-sized full color postcards are simple, effective and relatively inexpensive.

The rule of thumb for response rate is anything over a 1% response rate is considered a job well done.

I hope this helped and best of luck out there.

I would welcome your feedback on email vs. direct mail (versus a combination of the two).

What had your experience been?
What has been the ROI?
Any lessons learned that you care to share?
Vendors used? (good/bad/results?)

I`m exploring options, and would appreciate your comments.

[FUNd]

As I mentioned before in an earlier post most successful clients in the B2B Loan space are calling of course. If your Marketing budgets are tight then the next common step is to email. Then reinvesting the profits from your calls and emails into your direct mail campaign.

Everyone is attracted to email because it is viewed as inexpensive and easy. True, it is easy to send an email and you don't have to pay postage but you will need a Email broadcasting company that will send your emails out for you and good Business Owner email addresses. Then you need to set up a reoccurring email campaign that has fresh and engaging content.

With Direct Mail, again you need a good mailing list (deliverable, accurate, targeted Business Owners in need of Financial assistance) and a good mail piece. The over-sized full color postcards are simple, effective and relatively inexpensive.

The rule of thumb for response rate is anything over a 1% response rate is considered a job well done.

I hope this helped and best of luck out there.

What do you mean the "most successful clients in the B2B Loan space are calling of course"? Do you mean telemarketing? I have been experimenting with end user cold-calling and have funded a couple deals from that method, but it's tedious and soul crushing work. Not by any means worth the return on investment of my time and self-respect.

[WhoisKingsley]

Emails... Most emails that get sent out get filtered and deleted. Spam or "Click here to display pictures" and instead of the merchant looking they delete in fear of getting a computer virus. I thought email WAS NOT the way to go?

[MCNetwork]

I have been experimenting with end user cold-calling and have funded a couple deals from that method, but it's tedious and soul crushing work. Not by any means worth the return on investment of my time and self-respect.

Lol great post! Cold calling only works if you do it in large scale and don't mind having an ever revolving door of telemarketing reps.

[FUNd]

Yep. Merchants are pounded by telemarketers peddling business capital like nails at a habitat for humanity event. It's pathetic. If you're not a creative type with deep pockets or doing something illegal, you're probably not making much as an ISO. The space is becoming as populated as merchant processing. Ever make cold calls trying to sell that product?? You are ready to Robin Williams yourself after a few hours...(too soon?)...

[WhoisKingsley]

Wow FUNd... Way too soon. No bueno.

[Lenders.Marketing]

What do you mean the "most successful clients in the B2B Loan space are calling of course"? Do you mean telemarketing? I have been experimenting with end user cold-calling and have funded a couple deals from that method, but it's tedious and soul crushing work. Not by any means worth the return on investment of my time and self-respect.

Phones have the highest response rates. The best way to utilize them is to have a mechanism (i.e. dialer, hot transfer, voice-mail broadcast, telemarketing company, etc.) in place to pick all the low hanging fruit.

You can always dial by hand but it is not efficient.

[Lenders.Marketing]

Emails... Most emails that get sent out get filtered and deleted. Spam or "Click here to display pictures" and instead of the merchant looking they delete in fear of getting a computer virus. I thought email WAS NOT the way to go?

When you work with an emailing company that knows what they're doing emails work great in drumming up new leads week after week. Many folks think they can send one email and wonder why they don't get flooded with new business.

Also companies that have a real CRM in place simply upload Pre-Approved Business Owner emails and add them to their current drip campaign with equal or better results than in-house emails.

The real key is using real opted-in Business Owner 'company' emails not hotmail, yahoo, gmail, etc.

Again emailing in conjunction with calling and sending mail is what is having the greatest ROI.

[JSL23]

Phones have the highest response rates. The best way to utilize them is to have a mechanism (i.e. dialer, hot transfer, voice-mail broadcast, telemarketing company, etc.) in place to pick all the low hanging fruit.

You can always dial by hand but it is not efficient.

Wow, way too soon on the Robin Williams joke!. Yes, inbound-dialer/hot transfer is a pretty efficient way to get the "low hanging fruit", no doubt. With that said, I am still not anti-cold call. I just think that now, in the information age and the industry getting over saturated you have to be a bit more strategic with how you approach it. Take 30 seconds to Google the person you call and maybe copy/paste something about them/their company in your CRM, first of all. If you come prepared that Cold Call gets just a little bit warmer. The days of making 300 dials by yourself without knowing anything about the person you are trying to reach died in the late 90s.

Instead of using the same exact lines every other ISO/Account Executive does, try to engage the person a bit more. Don't start with "Do you need working capital?" because the next thing you will usually hear is a click. Example: you're calling someone in Construction. Maybe start with something like" I've helped Construction companies who specialize in ______ get $_____ this year. If I was able to get you anywhere from 50%-150% of your gross, how would you use it?" OR "How many more projects would you be able to take on with an infusion of capital?" Something that can potentially engage them and IS NOT a (dumb) yes or no question. Yes, it is still a numbers game and you will deal with plenty of rejection, but if you can separate yourself, just a bit it can and does work.

Nowadays CC alone probably won't do the trick. I've only used email marketing a bit in MCA, but we are starting to utilize it a bit more. If you get a 1% response, as the prior poster mentioned it will be a success as long as you convert them to opportunities. Cold Calling, Email, Social and Face-to-Face networking are effective when combined with one another. I'm no Marketing expert, but the data is key, as is making sure these are all "opt in" leads.

[FUNd]

Wow, way too soon on the Robin Williams joke!. Yes, inbound-dialer/hot transfer is a pretty efficient way to get the "low hanging fruit", no doubt. With that said, I am still not anti-cold call. I just think that now, in the information age and the industry getting over saturated you have to be a bit more strategic with how you approach it. Take 30 seconds to Google the person you call and maybe copy/paste something about them/their company in your CRM, first of all. If you come prepared that Cold Call gets just a little bit warmer. The days of making 300 dials by yourself without knowing anything about the person you are trying to reach died in the late 90s.

Instead of using the same exact lines every other ISO/Account Executive does, try to engage the person a bit more. Don't start with "Do you need working capital?" because the next thing you will usually hear is a click. Example: you're calling someone in Construction. Maybe start with something like" I've helped Construction companies who specialize in ______ get $_____ this year. If I was able to get you anywhere from 50%-150% of your gross, how would you use it?" OR "How many more projects would you be able to take on with an infusion of capital?" Something that can potentially engage them and IS NOT a (dumb) yes or no question. Yes, it is still a numbers game and you will deal with plenty of rejection, but if you can separate yourself, just a bit it can and does work.

Nowadays CC alone probably won't do the trick. I've only used email marketing a bit in MCA, but we are starting to utilize it a bit more. If you get a 1% response, as the prior poster mentioned it will be a success as long as you convert them to opportunities. Cold Calling, Email, Social and Face-to-Face networking are effective when combined with one another. I'm no Marketing expert, but the data is key, as is making sure these are all "opt in" leads.

Great advice. I love the lazy managers in this biz that sit in their office eating a stick of butter, or whatever else satisfies the pallet of some fat ass in a suit, and count calls. It's the hourly email about who has the most dials and talk time, but they themselves never touch a phone. They write scripts all day and have meetings about production, yet they still pull a goose egg every month because they don't do ****. This is why I'm an independent ISO now. I do thank my former employer for giving me some paid education, however. LMAO.

[Zach]

There are certainly effective ways to do direct mail, email blasts, and really any other type of marketing. As indicated in the lean startup, it's really about experimenting, measuring, and then pivoting or maintaining the course once you find the lowest CPA.

For more specifics on direct mail.... come on guys, be unique. Stop sending the fax blasts with the check for $50,000 out. Stop sending the mailers with the "line of credit card" attached to them. Instead, send TARGETED mailers with a SPECIFIC message. Mail merge their company name & owner name into it.

(now keep in mind, I am a terrible writer and this is an EXAMPLE)

"Dr. Bob Smith,

We've recently acquired a credit facility for dentists in Louisiana. We selected your institution because we believe you would be a prime fit for one of our lines of credit or other financing arrangements. We understand there are many financing solicitations out there, but I assure you that we would not have the audacity to mail you this specific piece if we didn't truly believe it was a perfect fit for your business. Please give us a ring at XXX-XXX-XXXX.

Please see the qualifications below:"


Obviously that particular message SUCKS... But the idea is SPECIALIZATION. Target a NICHE, measure the metrics, target a different niche, measure the metrics, pivot, etc....

But more importantly than ANY of that... is read the Lean Startup

[FUNd]

Stop sending the fax blasts with the check for $50,000 out.

Isn't that illegal? I heard somewhere you can be fined something like 6 million dollars if you get caught (or someone drops dime on you) ...

http://www.manatt.com/TCPA_Fax_Settl...of_Claims.aspx

http://www.law360.com/articles/49050...-fax-spam-suit

[Project Starter]

There are certainly effective ways to do direct mail, email blasts, and really any other type of marketing. As indicated in the lean startup, it's really about experimenting, measuring, and then pivoting or maintaining the course once you find the lowest CPA.

For more specifics on direct mail.... come on guys, be unique. Stop sending the fax blasts with the check for $50,000 out. Stop sending the mailers with the "line of credit card" attached to them. Instead, send TARGETED mailers with a SPECIFIC message. Mail merge their company name & owner name into it.

(now keep in mind, I am a terrible writer and this is an EXAMPLE)

"Dr. Bob Smith,

We've recently acquired a credit facility for dentists in Louisiana. We selected your institution because we believe you would be a prime fit for one of our lines of credit or other financing arrangements. We understand there are many financing solicitations out there, but I assure you that we would not have the audacity to mail you this specific piece if we didn't truly believe it was a perfect fit for your business. Please give us a ring at XXX-XXX-XXXX.

Please see the qualifications below:"


Obviously that particular message SUCKS... But the idea is SPECIALIZATION. Target a NICHE, measure the metrics, target a different niche, measure the metrics, pivot, etc....

But more importantly than ANY of that... is read the Lean Startup

Can you please tell me where I can get the Lean Start up?
Thanks

[Zach]

The Lean Start Up is purchasable on Amazon.com. The writer is a frequent speaker at Ivy-league universities, and the book is commonly referred to as one of the most important pieces of literature on entrepreneurship.

[MoneyMatchMaker]

It's not what you use, it's how you use it! The key is using proven & effective sales copy writers.

[Project Starter]

The Lean Start Up is purchasable on Amazon.com. The writer is a frequent speaker at Ivy-league universities, and the book is commonly referred to as one of the most important pieces of literature on entrepreneurship.

Thank you, I am already on it.

[Sachip24]

there is some great advice on this post, I am new to industry so appreciate the veterans input.

[Henry Poulson]

I have used both email and direct mail marketing service. I feel direct mail is more effective than email as it is highly targeted. We can reach a specific group of people whom we think are more likely to buy our product/service. People trust direct mail more. People trust direct mail more as the email offers go to their mail spam folders. So they don’t even mind opening it.
For me, direct mailing turned out very well. The ROI for direct mail campaign was very much high than it had for email. I have been a client of Troi Mailing Services at Toronto since 1 year and they are pretty good in this.

Please go through this blog about “What Can Direct Mail do for me?” in their site http://www.troimail.com/blog/mailing...ail-do-for-me/ . I hope it would be useful for you.

[Zach]

FUNd,

Yes, fax marketing is illegal. But the ROI sure is nice... 1-2 cents per delivered fax... not too bad, right?

Only problem is getting sued, which you can always calculate into your marketing campaign costs.

[Lenders.Marketing]

Direct mail is having a Renaissance. When you combine qualified business owners and a good looking mail piece you're setting yourself up for success.

Email works if you know what you are doing or work with a company that knows what they're doing.

Phones work great too if you are utilizing a mechanism like a dialer or telemarketing firm.

My most successful MCA Loan clients send mailers, email and call.

Happy Hunting.

I have used both email and direct mail marketing service. I feel direct mail is more effective than email as it is highly targeted. We can reach a specific group of people whom we think are more likely to buy our product/service. People trust direct mail more. People trust direct mail more as the email offers go to their mail spam folders. So they don’t even mind opening it.
For me, direct mailing turned out very well. The ROI for direct mail campaign was very much high than it had for email. I have been a client of Troi Mailing Services at Toronto since 1 year and they are pretty good in this.

Please go through this blog about “What Can Direct Mail do for me?” in their site http://www.troimail.com/blog/mailing...ail-do-for-me/ . I hope it would be useful for you.

[johnnycash]

Do you have a basic script you can email me for my new guys calling uccs

[skideeppow]

Direct mail is having a Renaissance. When you combine qualified business owners and a good looking mail piece you're setting yourself up for success.

Email works if you know what you are doing or work with a company that knows what they're doing.

Phones work great too if you are utilizing a mechanism like a dialer or telemarketing firm.

My most successful MCA Loan clients send mailers, email and call.

Happy Hunting.

Yes, that is what i have found most successful. A combination. UCC's are waste of time.

[Nate@FastAdvanceFunding]

Great forum with some great advice. Direct mail is always more costly and risky in my eyes.... but if done correctly it always seemed to create the easiest sale. Email blasts and campaigns are a great way to go, but it typically needs to be a supplement to some sort of calling tactics.