Looking for Final Expense Leads? Find Them with Direct Mail.
As a population ages out of the workforce and economic uncertainty on the horizon, many individuals grow concerned about their legacy and family’s future. For many folks, reducing their medical and end-of-life costs provides them some comfort knowing that their families will be protected once they pass on.
For those looking for ways to reduce these costs, many find relief in final expense insurance. By aiding in funeral and medical costs, final expense insurance is an affordable option for those interested in helping their families.
As an insurance provider or agent, one of the best channels to reach this aging population is direct mail. Direct mail is an accessible, non-intrusive method of contact and focuses only on those most likely to need final expense insurance without the unnecessary filler of typical online campaigns.
Why Direct Mail?
A common rebuttal to direct mail campaigns is that digitally-generated leads can be cheaper to purchase. However, this is where the advantages end.
Digital ads and email marketing lack the targeting strategy required to reach only qualified prospects in need of your services. You may attempt to focus on users by age or interest, but since this data is typically user-submitted, there is no guarantee you are reaching the right people. Digital forms are notoriously unreliable, as people will often make mistakes or intentionally input incorrect information.
While you may receive some initial interest from online ads, these prospects have not had the proper screening prior to filling out the online application, resulting in an abundance of unqualified leads. This would require more work for the sales team, as they are now tasked with filtering through these submissions to determine if the user is who they claim to be. Or worse – if you’re an agent that knocks on doors, you may arrive at your prospect only to find they don’t really exist!
Direct mail on the other hand, offers more control on who you target, so any response received has a much higher chance of being a good lead. No extra screening or steps are required to filter through these candidates because your campaigns target the right prospects from the beginning. The bottom line is that if someone responds to a direct mail ad – that means there is someone at the address we mailed that is interest in your service –100% of the time.
Related: Top Ten Benefits of a Direct Mail Marketing Campaign
Target the Right Audience (& Avoid Others)
When choosing a marketing channel, one must consider how efficient it is at sending your message to the right audience. While your marketing campaign can reach many people online, it’s worthless if it fails to target the right people.
With direct mail campaigns, you can identify your ideal audience before sending any mailers. Characteristics such as age, gender, geographic location, and personal buying habits are already put into consideration when building your address lists.
Not only is direct mail great at targeting the right audience, but the use of physical addresses helps avoid those that do not fit within your specified guidelines. These could be individuals too young or old for your policy or those living in a state you are not licensed within.
Related: Dissecting the Relevancy of Online and Direct Mail Marketing
Re-Targeting Made Easy
Insurance is a service that individuals often take more time to consider before submitting their information. As a marketer, you need to ensure that your company is what comes to mind when these prospects make their final decision. A steady stream of direct mail campaigns sent to the same address would improve your chances of success thanks to multiple marketing touchpoint opportunities.
Because direct mail ties to a specific name and address, re-targeting is easier to accomplish and track than online ads. Each mailer delivers to the same households and residences to increase the likelihood of a sale.
Related: Direct Mail and Homeowners: The Hidden Audience
Eliminate Past Leads from Current Mail Campaigns
While online marketing may loosely target your desired audience, there is no way to filter this marketing away from currently engaged audiences and leads. If you receive a lead from one individual, you cannot prevent that same lead from seeing more of your google or social media ads.
Since you have already secured a lead with this user, any additional marketing to them is futile – and a waste of money. Furthermore, if an ad has a poor conversion rate due to a high number of these impressions, a platform may decide to pull the ad or throttle the number of people who see it.
Even worse – you may get leads from the same person multiple times if they see it and are confused about renewals or something similar. The only thing worse than having no leads, is having leads that you find out have already purchased from you after wasting an afternoon traveling to their door.
Fortunately, direct mail can remove 100% of previously generated leads from future campaigns. As a result, you save time and money by not re-targeting the same engaged households. And you will not make poor decisions based on the actions from current business leads.
Personalized Ads for Your Audience
One method to improve engagement is by personalizing your mailers to leave a lasting impact on your audience. Something as simple as an addressed envelope could effect how a prospect interacts with a business compared to more generic mailers. In fact, 71% of baby boomers consider direct mail more personal than online marketing. Referring to your prospects by name shows attention to detail and helps your audience remember your company in their time of need.
Personalization can extend far past a simple addressed envelope. You can also send customized mailers based on your prospect’s state. As each state has different laws, regulations, and benefits, a unique mailer is practical for highlighting all possible benefits for your service.
With increasing fears of data breaches or fake internet companies, many individuals hesitate to submit their personal information through an online source. If they were to receive a campaign email or click on an ad, there is a chance that they could become victims to spam or hacking.
Because direct mail does not have this online security risk, your prospects may feel more inclined to provide their info. In fact, with harsh penalties and fines for tampering with other’s mail, there is a much higher perception of trust in the US postal system.
There is also a generational pattern of trust in direct mail. In fact, older generations are much more likely to trust direct mail, as a MarketingSherpa survey reported that 80% of baby boomers trust ads and catalogs received in the mail. This faith in direct mail is likely why many companies still use direct mail to reach these audiences. There is a high sense of integrity and security with direct mail, especially when you include your company’s physical address and a return envelope with your mailers.
Related: The Truth About Online Data
Sending a Strong Intent Signal
By requiring specific actions to signal interest in final expense, direct mail targets only those most likely to need the service. The longer process of writing down and submitting a form highlights your prospect’s desire for your service. It is far easier for those who are not interested to simply throw out your mailer than to engage with your company at all.
This process of writing down and sending back a form is exclusive to direct mail. Online ads by design submit form fill outs on a computer. While it may be easier, this action becomes less memorable to your audience. It is also easier for users to lie on the form in retaliation to your advertisement if they choose to do so.
Related: Generate Nationwide Final Expense Leads with Direct Mail
Start Getting Final Expense Leads Today with DK Solutions
With fierce competition in the final expense lead generation world, companies must make the most of their marketing budget by targeting the right prospects every time. Direct mail gives these businesses the power to reach these audiences without the clutter of poor leads or bulky campaigns.
When starting a new direct mail campaign, implementing the right strategy is essential for long term success. With DK Solutions, identifying and contacting the right prospects is possible thanks to our TargetList methodology.
Start a new final expense marketing campaign today with DK Solutions. Contact us today to learn more about how our TargetList can help you and your company’s marketing campaigns or visit our blog for more information on the direct mail industry.
We look forward to hearing from you soon!
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