The August 2008 issue of our Sample of the Month Newsletter features a case study from our client, Institutional Investor News and their Fund Directions Newsletter.
The story centers around their 6×9 invitation style mailer (pictured above) that they use to generate subscriptions for Fund Directions.
The invitation mailer measures 6″ (height) by 9″ (width). Inside is a 1-page letter, 4-color brochure and reply card. The offer is for two complimentary issues.
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Institutional Investor News used to mail a polybag mailer containing an actual issue of Fund Directions, a letter and reply card. They replaced this mailing with the invitation mailer above and response improved.
Fund Directions is a different type of financial publication because it’s sold to the board of directors of mutual funds. As a result, the entire board has to vote on whether or not they want to purchase it.
They tested the invitation mailer because they learned their audience is more resistant to typical direct mail…they needed to test something that would get opened and an invitation format was the logical choice.
A subscription to Fund Directions is a highly-customized program and Institutional Investor uses more than just direct mail to close the deal…for example, telemarketing and event marketing is included in the mix.
As a result, they don’t have hard response numbers for their direct mail campaigns. That being said, the last two invitation-style mailings resulted in a noticeable lift in new subscriptions.
The Marketing team for Fund Directions was surprised that the invitation mailer beat out the polybag mailing containing a newsletter issue. They speculate that recipients might throw out the polybag mailer thinking it’s junk mail of some sort.
Institutional Investor News is going to produce another similar invitation-style mailer based on the success of the previous two campaigns.
DMA 2008: We’re exhibiting in booth 636 at the DMA Annual Conference in Las Vegas, NV on October 12th-14th. Please stop by to say hello if you’re attending. We’re also giving out chocolate poker chips!