The Sale of Insurance Through the Mail
There is very little accurate information about direct response marketing of insurance. The methods involved in direct response marketing include: 1. direct mail advertising, 2. newspaper and magazine advertising, and 3. radio/television advertising. Insurance products that are sold by direct response marketing include life insurance products, health insurance products, and group insurance products. There are many advantages for the consumer when direct response marketing is used, including availability, freedom of choice, price, and service. The traditional agency system and the direct response insurance marketing method are completely compatible. The 2 systems complement each other and help develop a broader base of coverage to the best interests of the consumer.
Beavan, Gerald F.
Braybrooks, Colin S.
Full text: [CLU Journal] Apr 1982
Data Base Publisher Identifies IRA Leads
The current advertising blitz by the financial community, to attract individuals to set up an Individual Retirement Account (IRA), is being resisted by many people. Market Data Retrieval’s (MDR’s) Terrence Coen noted that the IRA ad campaign generally failed to consider certain critical factors (i.e., income, employment or eligibility). As a result, MDR produced a new marketing tool for financial marketers of IRAs and other such individualized retirement programs. MDR amassed a list of 3 million first-time eligible individuals, and it makes the names available for direct mail and telemarketing programs. These sales prospects are mostly executives who have the income and general desire to fund investment programs. Specifically, the MDR lists are systematically categorized. This sales-lead database can help users target a specific prospect group for a cost of less than 10c each. Marketers can select prospects geographically on the basis of: 1. state, 2. county, and 3. zip or telephone area code. Prospects may also be chosen selectively by: 1. type of business, 2. job title, and 3. size of firm.
Full text: [National Underwriter] Apr 10, 1982
Don’t do promo my way, card “ace” tells SIMSA
A marketing executive advises banks against purchasing lists for direct mail credit card solicitations, suggesting that lists of current customers are much better and much cheaper. A VISA solicitation campaign used a screened list to attract “high rollers,” or those who use the card frequently. Thrifts are advised to use serious themes in their advertising and to segment their current customers into small groups.
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Full text: [Bank Advertising News] Apr 12, 1982
Test Marketing, Direct Mail Made Families a Winner
The Reader’s Digest Association Inc. (Pleasantville, New York) has found success with its first new magazine in 60 years, Families. It was started to fill the void in information on child rearing-especially the problems of raising teenagers-not filled by traditional women’s magazines. It addresses the needs of the contemporary American family, working wives, and single parents. A prospectus for Families was test marketed in supermarket parking lots, and 2 test issues were distributed to determine response. The response was overwhelmingly in favor of the new magazine. Families has drawn a record advertising support due largely to its family-oriented editorial content. Direct mail subscription campaigns have been streamlined to cut costs and obtain the most subscribers.
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Full text: [Marketing News] Apr 16, 1982
How to Get the Most Out of TV Spots Using 800 Numbers
The effectiveness of a direct marketing television or radio campaign calling for responses via Wide-Area Telephone Service (WATS) lines requires the use of an experienced 800 service business that can handle a large variety and number of orders in an hour. If commercials are run on several stations, costs can be compared by using several service houses and different 800 numbers. Buying television time at the best price can increase direct marketing profits. Television marketers with a high volume are able to buy time at 50% off rate card. To test the effectiveness of a campaign, marketers may start out with a one-week schedule and extend the schedule according to responses. Once responses taper off, it is time to discontinue the commercial. Advertising on less-watched television programs may be more effective because viewers will be more likely to take the time to leave the program and write down the 800 number. Radio is a good test medium for direct marketing because of low cost and segmented audience reach.
Januz, Lauren R.
Full text: [Marketing News] Apr 16, 1982
Facsimile Machine War Intensifies
There is an increase in competition expected in the facsimile (fax) market this year due to launches of new entrants and aggressive marketing campaigns. There are about 40 fax models on the market, which is double the number available in 1980. The 3 heaviest advertisers last year were NEC, ITT, and Rank Xerox, and this year, NEC plans to increase advertising in trade magazines and national newspapers. ITT’s advertising plans include national press, regional launches, and direct mail. Rank Xerox’s advertising plans include magazine inserts, national press, and trade papers. Today’s fax electronically transmits a copy of a document, including graphics and signatures, over telephone lines on a worldwide basis. The Consultative Committee for International Telephone and Telegraphy (CCITT) sets standards for commercial fax equipment, categorizing equipment into one of 3 grades based on the machine speed for transmitting a sheet of A4. It is possible for models meeting a group standard to communicate with other models meeting the standard. Currently, Group Two machines have over 60% of the market. The market leader is ITT, with 3M second and NEC third.
Full text: [Marketing] Apr 22, 1982
Bank’s Precious Metals Program Improves Profits Through Ease of Operation, Customer Appeal
Despite the availability of many new bank products, each product’s operational aspects must be fully assessed before it is offered. First National Bank of Chicago’s Precious Metals Program offers a prime example of vital operations and marketing strategy aspects to be considered during product development stages. The bank’s program enables financial institutions to offer gold and silver to customers at competitive prices on a proprietary basis. Currently, 50 banks in 21 states utilize First National’s program. As the First Bank Saint Paul (Minnesota) discovered, the program required a minimum of operations and administration time. The Saint Paul bank devised a procedures manual for the program, and set up a demand deposit account complete with immediate price quotes via toll-free lines. While the Saint Paul marketing department developed a product information scheme that included a direct mail and newspaper advertising campaign, the marketing services support group provided printed materials. Careful planning prior to product introduction resulted in strong customer acceptance of a smoothly operating program.
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Lavin, William J.
Full text: [The Magazine of Bank Administration] May 1982
Lord of the Rings
Increasing paper, printing, and postage rates are making direct mail marketers more cost aware than ever before. One of the media alternatives to which these marketers have turned is telemarketing, i.e., the use of the telephone and WATS toll-free numbers for both inbound and outbound calls. A personal sales call can run as high as $200, compared to around $50 per hour or less for outbound telemarketing calls. The list of telemarketers include: APAC of Skokie, Illinois, Avis of Garden City, New York, Campaign Communications Institute of America of New York City, and Mardex of Omaha, Nebraska. An overview is presented of the services of a number of telemarketing firms. Telemarketing executives are wondering what impact Ma Bell’s deregulation will have on their business. In addition, American Telephone and Telegraph has expressed an interest in establishing in-house telemarketing departments for companies.
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Morse, R. C.
Full text: [Marketing Communications] May 1982
The Art of Using Industrial Direct Mail Lists
The response of any direct mail campaign is influenced by 5 major variables-copy, package, offer, timing, list-of these, the list is most important. The advent of the computer has created much sophistication in the kinds of help industrial mailers can obtain from list marketers. Five services available to industrial marketers include: 1. penetration analysis, 2. dealerization, 3. Standard Industrial Classification (SIC) or target marketing, 4. individual major prospect handling, and 5. a ”merge-purge” computer program that identifies, tags, and eliminates duplication within lists. Many industrial firms rent their lists to other users. No list need is too small or limited to skip using a specialist’s advice. Competent list houses can provide vital information, at no charge, when orders are placed for lists. Industrial firms, prepared with a set of pertinent questions, can take advantage of this helpful consultant service.
Full text: [Industrial Marketing] May 1982
Rethinking Corporate Advocacy Media Strategy
With knowledge of how public opinion is formed, wasted costs of corporate advocacy advertising can be saved. Indeed, corporate advocacy advertising can be targeted as effectively as brand advertising. ”Opinion leaders” cannot really change the opinions of others. Actually, only fair and direct facts presentation can change public attitudes. Buying expensive ad space and time in ”thought” publications and programming is not the most effective method for corporate advocacy advertising. A more thorough knowledge of attitudinal audience information would lead these advertisers to use the broader media. These broad-based-media types presently lack research provisions for the advocacy advertiser, who also is generally weak in this area. However, as corporate ad spending in the broader media increases, the media will include research that is pertinent to corporate advocacy campaigns, which will result in more effective, less costly efforts at delivering the corporate message.
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Full text: [Industrial Marketing] May 1982