5 Types of Direct Marketing

5 Types of Direct Marketing

Direct marketing is a form of marketing that engages directly with the customer as opposed to marketing through and advertising middle-man and marketing to the masses. The core concept of direct marketing is aiming marketing efforts towards a targeted audience that may have an interest in purchasing the company’s products and/or services. A 2019 study determined that direct marketing has a 29% return on investment.

There are several different types of direct marketing, but this article will focus on the top five most used and most successful strategies. 

Direct mail

Direct mail is a more personalized approach that is both versatile and flexible. The business can direct the mail to a home or business address and personalize the mail, as well as scale up or down on efforts. It is relatively inexpensive but has been proven to be very effective. Examples include:

Direct selling

This approach involves directly going to each customer’s place of residence to introduce a product and/or service. It is a cost-effective method of informing the client of the benefits of the product, any promotions, as well as addressing any questions the client may have.

Social media marketing

Social media marketing is an excellent method of reaching new clients. Plus, it’s free. There are a variety of social media platforms that can be used to promote products/ services and advertise special offers. 

Email marketing

A business can promote its products by sending out emails directly to customers. Customers have the option …

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How To Build an Emergency Fund

How To Build an Emergency Fund

Everyone knows that it’s important to have a solid monthly budget. Unexpected expenses can easily derail it, though, if you’re not careful. To protect your finances, you need savings that you can dip into when sudden issues arise. Here are some tips for building a functional emergency fund.

Set Reasonable Goals

Start with your existing budget. If you already have a savings plan built into it, consider reallocating part of that monthly commitment to a separate savings account. That way, you keep the money you’re saving for planned extra expenses such as vacations or gifts separate from your emergency fund. Divide all your expenses into essential and nonessential categories. This can reveal more money available to build up your emergency fund more quickly. Eventually, it’s a good idea to have the equivalent of at least three months’ salary saved up. If the emergency forces you to take a sabbatical from work, you are prepared. 

Divide Into Monthly Plan

Every time you set a long-term goal, you also need to outline the short-term benchmarks that will get you there. If, for example, you want to build a $15,000 emergency fund within the next two years, you need to plan to save at least $625 a month. Putting a little extra in the account will get you there faster, of course, as will choosing a savings account with interest. It’s best to plan as if you cannot rely on these factors, though. Divide the total you want to save by the …

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