Effective lead generation involves a strategy that works. It’s a foundational part of systematically attracting high net worth leads and then converting them.
The thing is, when it comes to direct mail and lead generation, so many people opt for a one-hit wonder – maybe a leaflet, an email, a sales call or a letter. When taking the prospect from A to B, we presume it really is as simple as drawing a straight line between two dots.
The thing is, it’s rare to find any high or ultra high net worth individual that is willing to buy straight off the bat. A one hit wonder mailing is going to have minimal response because you’re expecting them to make one huge jump from where they’re standing comfortably, to where the grass is apparently greener.
Here’s another way to think about it:
Imagine somebody is serving teas and coffees at a charity cake sale, a church or school, or even doing the morning tea rounds at the office. The mugs are all higgledy-piggledy and they’re difficult to pick up…especially when there’s a hot beverage inside!
Either the person serving has to hand you a drink, or you don’t take one. Strategy is having all the mug handles pointing toward the recipient of the drinks. Why? So that they’re in control. They take the drink because it is an invitation that is easy and convenient to accept.
This is what a solid marketing strategy can do for lead generation. A strategy shouldn’t take someone by the hand and take them to the destination. It’s about putting the sign posts up so that they can come to the conclusion that your offer is worth it by their selves.
So, why is 3 the magic number?
All the best things come in threes. Repeating or grouping ideas, words and images (or anything else for that matter) in threes creates a cluster that is easier to remember. That’s why we find it easy to remember phrases such as ‘blood, sweat and tears’ and ‘liberte, egalite, fraternite’; it’s also why children’s stories have threes in them (think Goldilocks and the Three Bears or The Three Little Pigs).
Therefore, implementing three stages to your lead generation strategy will make the brand and the offer more memorable as your message returns in three forms. It is the smallest pattern there is and an effective one if you want to pack a punch with your marketing strategy.
As well as being memorable, by relying on three mailings rather than one there’s time to generate interest over a more extended amount of time. The information and the offer can be spread out across the mailings to build a picture. In contrast, one mailing has to cram all the information in, as well as the why’s and wherefores. That amount of information can be overwhelming and it doesn’t allow room for the a high net worth individual to mull over the offer. Sequenced mailings allow a build up of information that encourages intrigue so that, by the third mailing, prospects are hungry for more details. Essentially, you recognise their level of interest and encourage them to discover more about that interest.
A 3 stage marketing campaign
1. Here at Finely Fettled, we recommend the first stage of a marketing campaign to be simple and punchy. Sketch out the offer in, for example, a postcard or an invite. This acts as pre-suasion. You’re planting the thought of the offer and the concept behind it in their minds. It’s also an effective way to establish your brand in their mind if you’re a limited company. As a result, when the second mailing hits their doormats they are familiar with you and what you’re offering and are more likely to be receptive.
For example, when asking for a response to a marketing survey, only 29% of people responded. However, when a mailing went out preceding this marketing survey, asking ‘are you a helpful person?’ almost all those targeted responded when asked if they could help with a marketing survey. By shifting people to a particular concept or idea, you shift your targeted market’s personality in that moment of picking up a pre-suasion mailer. They are not potential investors or clients with money to spend; they are helpful or adventurous or a quality-orientated buyer. If you lead with pre-suasion, you are preparing your prospects for the message (turning the mug handle towards them).
2. The second mailing, then, is a letter filling out what you alluded to in the pre-suasion mailing. The copy on the postcard should create questions that you can then answer in the letter, establishing you as a personable authority. It is important to engage with the conversation your high net worth investors or affluent individuals are already having in their minds. However, you should not force a decision as you are merely wanting them to be as informed as possible. Establish a strong call to action and rest on the power of clarity over lots of persuasion. Remember, you want to turn the mug handle towards them rather than give them the mug. There’s no persuasion in pressure.
3. Now, the third mailing has the most flexibility. It can be sent to leads who have converted, or those who responded to your call to action. The idea is that this mailing gives a true ‘wow’ factor. If you go the extra mile for your prospect, they’re more likely to go the extra mile for you (i.e. convert).
This is where Shock & Packages come in. Shock & Awe Packages are parcels delivered to your prospect clients or high net worth investors, containing your offer in a detailed form (think brochures with ROI breakdowns, time scales, risk, etc) along with some sort of gift/s relating to your offer. It suggests exclusivity and shows you value them as people, not an opportunity for a sale.
This mode of mailing isn’t often used by marketers. It can be seen as an expensive extra. However, it positions your leads in a much better stance to make the decision to convert. To go back to my mug analogy, giving a gesture of good will positions the mug handle towards your prospect to freely take. And quite frankly, if you’re sending surprise gifts to their door, who wouldn’t take it?
We find that those who have received Shock & Awe boxes from our clients have been blown away by the surprise. And, as a result, the leads have been more receptive to the investment or purchase information that has been sent with the gifts. It’s a great opportunity to exercise creativity in a new channel of marketing and it’s certainly exciting to see the results of creating surprise packages for leads.
Making 3 your magic marketing number
Ultimately, 3 is the magic marketing number because it offers time to stagger your offer and use that time to present your investment or purchase offer as a much more reasonable and natural an action. Therefore, the high net worth individuals you want for your business will happily cross over to the grass because they can see it is greener. You’ve allowed them to judge for their selves and given them time to examine the grass blades, etc.
Moreover, familiarity is so important when wanting to successfully generate leads. If someone doesn’t know you or your brand from Adam, how do you expect them to accept what you’re asking of them? The key is communication and consistency, partnered with choosing the right clients. It is important to note that a 3 stage campaign will only get the leads you want, if you have effectively targeted your ideal market. The high net worth database gets campaigns directly in front of the most appropriate affluent and high net worth individuals so that a 3 stage campaign can work with optimum effect.
And of course, with a successful three-stage strategy like this, you have a process you can easily role out again and again for different products or different markets. Don’t rely on the ad-hoc lead generation a one hit wonder campaign can produce. Be systematic and implement the power of 3.