The problem:
1. Postage costs are on the rise.
2. Your advertising budget isn't.
Combining the two problems equals one money-making solution:
Statement inserts
Even huge corporations send statement inserts. You're going to send a statement to your customers anyway, why not throw in some advertisements for yourself?
You get all the advantages of direct mail without paying extra for a separate mailing. Take a look at these numbers:
Complete direct mail packages run between $200 and $600 per thousand. In contrast, statement inserts are only $6 to $15 per thousand. A huge savings for you.
You can also use statement inserts to test a new product. If your product doesn't generate much interest, you can easily change your advertising angle. But if you've pumped all your ad dollars into commercials, print ads and a solo direct mail campaign without results, changing direction is much harder and more costly.
Now the bad news. You get your statement and there's an insert for a high-ticket item inside. Chances are, you're not going to shell out the big bucks for something new when you've just received this blow to your billfold in the same envelope.
That's why your statement insert should advertise a reasonably priced item. Save your top-dollar items for your high advertising dollars. Those big prices won't pull in a lot of orders off a statement insert.
Be sure to watch the weight of your mailing too. You can pack a lot in a 34 cent mailing. But anything over one ounce will cost you more in postage.
You should also consider using a large statement insert. Packing your mailing full of smaller inserts may seem more logical but research indicates larger inserts have higher response rates. Three panel is most popular, followed by two panel.
If you choose to send out a single panel, pack it with information. Deliver the offer, product, copy and audience to pick up the slack in size and details.
Order forms must be easy to fill out as well. Make sure you leave enough room for the customer but also for your fulfillment house.
And keep that order fulfillment down to a minimum. Keeping your customers waiting for several months, even weeks will reduce your chances of that customer becoming a repeat buyer.
Consider having a customer service department solely devoted to your featured product. If someone doesn't receive their order or has other complaints, you need a staff that will handle those concerns immediately. Handled correctly, a good CSR can turn an irate person into a satisfied customer. And that customer will tell a friend about how you solved their problem.
Get the most out of postage rates and your ad dollars with statement inserts. Who knows? Your customers might even start looking forward to receiving your bill!