How easy would it be for your customers to leave? Without a contract yoking them to your company, it’s a relatively simple process. All it takes is an irresistible price and apparent continuity in terms of product and service for them to move along.
Meanwhile, there’s probably an app in development at this moment that replaces the service you offer with a do-it-yourself system. With that type of simplicity and substantial cost savings, you can see how everything from old-fashioned tax preparation to retirement savings is ripe for disruption.
However, that doesn’t mean every such business has been losing. You simply need a strategy to remind your customers exactly what you do for them – and how that new app probably can’t hold the line.
At &THEN, you’ll hear how H&R Block overcame this challenge with an innovative, science-backed campaign that used direct mail for the win.
The Struggle to Keep That Business
As digital options in nearly all financial services head your customers’ way, it will take a certain edge to keep longtime clients aboard. That’s why so many marketers are turning to social science principles.
John Sisson, president of HBT Marketing and one of the presenters at this session, has put these principles in play with campaigns for Edward Jones and H&R Block, among others. Sisson and his team have experience leveraging data science to segment an audience before reaching them with concepts like social proof and scarcity to drive action.
In the tax-preparation business, customers face many unknowns when they shift from professionals to a do-it-yourself app, and the job involves reminding them of what they risk. David Hussong, the senior marketing manager at H&R Block and the co-presenter at this session, will detail what he and Sisson aimed to remind customers with their ad campaign.
Turning to Compelling Mail Pieces
As digital ads aim to sway your customers away from your business, a direct-mail piece has a chance to grab attention. The question is how effective your strategy is – and what is behind it.
In the case of H&R Block’s campaign, the science pointed to ways to reach customers with convincing results. As Sisson and Hussong will recount during their session, “Crushing It with Print! How Do We Capture the Offline Audience? With Science!,” breaking through the growing level of clutter is not impossible.
In fact, when you make your pitch while highlighting what’s at stake for customers, you have a chance at keeping them beyond this tax season (and maybe even for the long haul). H&R Block is only the latest to succeed with the science-backed print approach, and your brand may be the next to put the technique to work.
This article is brought to you by &THEN, DMA’s annual event. Click here to join the leaders of the marketing community and advance your data and marketing mastery in Las Vegas, October 7-9.