Tag Archive for: target

Focus your marketing, says the “Financial Services Marketing Handbook”


Targeting your prospects instead of marketing to everybody works best, as the Financial Services Marketing Handbook suggests in the following quote:

Very few companies can afford to be everything to everyone any more. Even companies with mass-market products (like basic checking accounts) segment their markets so that they can focus their limited marketing dollars on the most profitable segments.

The book also offers direct-mail statistics to support the value of targeting. “…When the list, the offer, and the message are narrowly targeted, response can go up to 10% or more” versus less than 2%. That’s an increase of more than 500%.

If you’re interested in learning more, this information comes from Chapter 1 Segmentation.

By the way, I won a free copy of this book in a random drawing by PropelGrowth. Thank you, @CandyceEdelen and @PhilDonaldsonNJ!