While e-mail blasts and banner ads take a greater share of marketing dollars for most corporations these days, direct mail is still a viable way to attract new customers. Over the years, we have seen a consistent return on our investment when promoting our offerings to high net worth households in the mail. To augment that success and help us continue to grow, we are adopting more sophisticated marketing tactics.
Working in concert with our colleagues from the Personal Insurance Direct Marketing group, we developed new data-aggregating tools that enable us to target specific U.S. zip codes where our conversion rates and profitability indicators align. In addition to applying intelligence gathered from our existing clients, we can benchmark our brokers and select the best possible partners for specific campaigns.
Based on these efforts, we are honing in on 17 states and 85,000 prospects with two mail campaigns. View an example here. The first wave will go out this month. Once the campaigns have rolled out completely, we will track the results and adjust accordingly for the future. We’ll also work with our underwriting product managers on a state-by-state basis to support PCG’s ongoing product growth strategies.
In addition to targeting new customers, we are actively reaching out to existing policyholders when there are opportunities to broaden their PCG insurance portfolios. Campaigns are underway or in development pertaining to new product launches such as Family CyberEdge, and personal interests such as art collecting and owning horses. Here’s an example of a private collections cross-sell mailer.
If you have any questions about direct mail, please contact Alex Horowitz.