Optimize Touches, Maximize Response

Embracing the Dive: The Importance of Repetition in Marketing

"Jump in, the water's nice!" This phrase captures the essence of a bold approach in marketing – taking the plunge rather than cautiously testing the waters. In marketing, repetition is critical to achieving the best possible results. Studies and experiences have shown that the most effective response rates come from consumers exposed to a sales message over a more extended period; unlike single, one-off campaigns, which often yield lower response levels, campaigns supported with a series of waves tend to be more successful. Each wave in these campaigns should follow a set performance expectation and include a testing element.

Testing as an Ongoing Process

Testing in marketing should be viewed as an ONGOING process rather than an ON AND OFF affair. Aspects such as package, creative, incentive, and cadence can be tested continuously as the message is delivered. This approach ensures that each campaign wave maximizes impact and awareness and garners valuable insights about the best ways to engage with a specific customer base. This ongoing testing and modification process and regular communication with targeted consumers drive the highest response rates.

Leveraging Technology and Omni-Channel Marketing

The rise of technology and the ability to target consumers at a hyper-personalized level have made omni-channel marketing increasingly effective. Repetitive messaging across different channels enhances impact and success. For instance, a direct mail campaign can gain additional traction through digital ads targeted at the same recipients. This strategy ensures heightened consumer awareness about a financial institution, especially when considering a provider switch.

Understanding Consumer Behavior in Financial Services

Consumer behavior in financial services is quite different from that in consumer goods. The decision-making process in this sector is more comparable to buying a car – it's a prolonged journey. This extended decision-making timeframe underscores the importance of maintaining consistent visibility. Keeping the institution's offerings in the consumer's direct line of sight—or at least in their periphery—becomes crucial until they need to switch from their current provider. If the incentive or desire to change is strong enough, this decision might occur sooner than anticipated.

The Strategy of Staggered Messaging

When developing a marketing campaign, it may seem cost-effective to run a single wave briefly. However, this approach can negatively impact results. A more effective strategy involves building a schedule that staggers messaging waves approximately six to eight weeks apart. This staggered approach allows each marketing wave to build upon the previous ones, strengthening consumer awareness and positioning the institution as a top-of-mind choice when the need for their services arises.