In many ways, marketing a mature product is different than launching a brand-new product or a relatively new product in the marketplace.
Your core audience is already familiar with a mature product. And that’s one of the great distinctives.
Your core audience has already made assumptions about the product, they may have already said “no,” and they have already made up their minds. And it’s harder to be able to change their minds.
Independent Living is a newsletter that has been aggressively marketed for over 20 years.
The marketplace knows its product.
Independent Living is an investment newsletter with a Conservative, Libertarian worldview and provides specifics on how to prepare for the unforeseen economic turmoil for political and social unrest.
Our job was to figure out how to present the product in a new, vibrant way.
We decided to do it in these 10 steps:
#1: Data – First, we used data modeling to target the “perfect prospects.” These are the potential customers who would be most likely to respond to our offer, based on their past transaction history, demographics and more. Large database modeling companies actually record thousands of data points to “clone” prospects from this information.
#2: Custom Lists – Custom lists can be created from data modeling and from your personal customer file. We used custom lists to strategically target and retarget prospects with their offer, raising response rates and increasing lead generation.
#3: Look-a-like Audiences – Another powerful tactic for lead generation is to create look-a-like audiences, which imitate the buying habits and demographics of your best prospects. Look-a-like audiences can be created on a variety of platforms, including Facebook, Google, Amazon, and more. We created look-a-like audiences for Independent Living to target more prospects who would behave just like their best customers.
#4: Dynamic Direct Mail – Our first step in direct mail was to send a magalog – a direct mail piece that looks like a magazine, but is really a sales piece in disguise.
Here’s an example of a magalog we created for Independent Living.
#5: Facebook Marketing and Advertising – Facebook can be extremely effective if you know how to use it. We targeted and retargeted prospects and leads with Facebook ads that used direct response copy, driving all responses to a targeted landing page.
#6: Google Ads – We ran strategic banner ads and native ads on Google to target prospects who would have received the direct mail piece.
#7: Pre-roll Ads – Pre-roll ads are the short commercials that run before videos on YouTube, for example. We ran targeted pre-roll videos to boost response and drive traffic to our targeted landing page for Independent Living.
#8: Informed Delivery – Informed Delivery is the USPS’s powerful new postal strategy that allows mail recipients to receive a daily email that informs them of what they can expect in their mailboxes. Informed Delivery is a powerful (and free!) part of direct mail strategy, and worked to raise response to our campaign for Independent Living.
Here is what Informed Delivery looks like in your email inbox:
#9: Direct Mail Retargeting – After our target audience received the first direct mail piece, multi-buyers received a follow-up piece – a newsalog, a sales piece disguised as a newspaper.
Here’s an example of a newsalog we created for Independent Living.
#10: Email Conversion/Integrated Series – Email can be effective, if done right. It must be integrated into a multichannel campaign. We sent two email series to our target audience – one for prospecting potential leads (a conversion series), and a second that followed up from the direct mail piece (an integrated series).
This multi-channel marketing approach is something that the client had never done before. The multi-channel approach increases reach and has greater impact in all media. For example, the response to direct mail is enhanced and benefited by the Facebook, and the response to Facebook by the direct mail.
This was one of the most successful campaigns for a mature product, bringing in new subscribers and revenue, and for the publication to expand and enlarge its universe.
If you’re interested in creating an integrated, multichannel campaign, call me at (310)212-5727, or email Caleb at firstname.lastname@example.org.
Here are the rest of this week’s articles: