Is PPC or PPV the Right Marketing Strategy For You?
It’s true, marketing strategies for small businesses are needed now more than ever before. More than 1 in 4 businesses have closed during this current pandemic. Many brick-and-mortar businesses will never open their doors again.
As I speak with entrepreneurs about marketing strategies for small businesses, this question frequently comes up:
Should I focus on PPC or direct mail?
To answer that question let’s review what they are before diving into their strengths and weaknesses.
PPC is a method of mailing for market exposure. PPV refers to the percentage of the overall mailing that is a positive response. Direct mail refers to the pieces which are sent directly to customers and do not require a response.
Direct mail is expensive to run and direct mailers are often large, unwieldy, and over our customers’ neighborhoods. However, if you get a positive response to the direct mail, you could get several additional responses from direct mail. This could result in your building a relationship with your customer and then later on you could go PPV them.
PPV stands for Percentage of market response. If you have a PPV with your direct mailers, this would mean that you have a greater than 50% positive response. However, there are also negatives to this method. Direct mailers are also often seen as spam by your customers. Also, the cost to the business is more than the response. Lastly, the direct mailer could miss your customer completely.
If you choose to use direct mail, you must ask yourself what is the purpose of the marketing strategy for your mailing? What outcome can be achieved by direct mail? Also, how is your customer being reached? These questions must be answered before deciding if direct mail is right for your business.
1. Does my business need to send direct mail? Do I have customers that are not interested in my products? As a business person, you should always try to reach as many people as you can. Direct mail is the most efficient way to reach your target audience. However, you should know that not all leads are worth sending out direct mailers to. You should also know that not all customers are willing to take a risk or try a new product. But only those who are willing to accept the risk would be interested in your product. This is where PPV comes into play. The PPV refers to the Percentage of market response. If your PPV with direct mail is greater than 50%, then you can be sure that your direct mail would be the right marketing strategy for your business.
2. How do you reach your potential customers? Not all marketing media is the same. Some marketing media are better for certain product categories than others. It is also different for different businesses. The best way to reach your potential customers is to know what your target audience is. If you know your target audience, then you can choose marketing media that are better for that category. Also, you can use different marketing media to reach each group of your target audience.
by Steafon Perry