Inconsiderate Marketing (3 min)
U.S. Businesses and the Mail Problem
Everyday I empty my mailbox, 99% of it doesn’t make it into the house, it goes straight in the recycling bin. At this time of year, there are 10-12 glossy marketing magazines arriving everyday from brands trying to grab my attention. For me, it doesn’t work, in fact, the more mindless marketing I receive the more it puts me off the brand.
A Case Study: First Republic Bank
This weekend I received a prospecting packet from First Republic Bank.
What do they send me to entice me to become a client?
Their 2021 Annual Report.
Really?
Yep, their annual report.
I immediately threw it into the recycling bin. Then retrieved it for the purposes of wanting to write more about this experience.
On a flick through, there are 23 client case studies followed by all the typical annual report ‘stuff’.
Given that we are nearly at the end of 2022, the choice of last year’s annual report already feels outdated, which gives me the impression the Bank is probably old school and bit out of touch.
They had a beautiful opportunity to send something relating to the upcoming holiday season, so many opportunities to celebrate and learn and become aware of an array of holidays. Opportunity wasted.
The irony is the accompanying letter starts with the title of “Discover the difference personalized banking can make.” There is nothing personalized about this packet.
The effect it actually had? It infuriated me.
Whether this is true or not this is what I thought:
The size and weight of this thing (I weighed it; over 11 oz). Not to mention the heavy stock the report was printed on will have cost a considerable amount. Although they did get points for choosing 100% recycled paper.
The cost of production, not just dollar value, but people’s time and effort, and then the environmental impact is considerable.
I’m going out on a limb here to suggest they didn’t just send me this report, there will have been a sizable recipient list. Even if they had a stash of 2021 annual reports from an overrun print job, sending them out to prospects wasn’t a good plan - just recycle them.
The cost of shipping these packets around will have had a dollar value and carbon footprint impact. (sized at 8 x 9.5 x 0.25” will cost roughly around $5 to ship with USPS and for the quantity they had, they will have knocked the price down a touch - yes we have a lot of experience of shipping packets and gifts around the U.S.).
The sustainability statement on the back of the report says “First Republic supports efforts to maintain a healthy, sustainable environment through the responsible use of renewable resources.”
Nothing healthy about this. The well-being of the people involved in the creation of all of this, or considering the well-being of the people receiving this doesn’t feel as though it has been considered at all.
This creates incongruence with what the Bank says and how it behaves. (Ah have you heard us talk about emotions lead to thoughts, lead to behaviors, lead to experience before!? Reminder: If you don’t identify the emotions you want clients to feel then the experience will not be fit for purpose.)
In summary: “What a complete waste of time, money, people effort, and planet negative impact this has had. I wish the Bank and it’s people well, yet I also wish they will do better in the future.”.
What went wrong?
I am very familiar with prospecting and finding ways to try and discover new clients. Particularly in this day and age, client growth and acquisition is hard. However, First Republic Bank - do better please.
Here is where First Republic Bank went wrong - they made it about them.
They didn’t think considerately about their prospects.
The thought appears to have been, send the annual report to show how good we are, and include a bunch of client case studies to say ‘“Look, our clients are like you.”
This will not convince me.
If I’m in the demographic of the target market then understand more about me.
Make it about me, not you.
Anything would have been better than the annual report. Send me a book to read on a topic that would interest me, that would have grabbed my attention.
“Wow, thoughtful, if this is how they care about prospects then maybe they do actually care for their clients, they are perhaps worthy of investigating further.”
Even if I didn’t read the book immediately, that book probably would have sat on my coffee table or desk for a while (assuming it wasn’t a mind numbingly boring book, and don’t send me a book on financial management either!).
Find a current best seller or a coffee table book, or choose a book relating to the season - plenty of Fall leaves around in the North East at the moment, find a book on seasons, anything, just not the annual report.
Pair that book with a thoughtful and short message (not a letter size page of text) to connect me with your services. For example, send a coffee table travel book like “The Bucket List” and write:
“Please enjoy this book, and as you browse through imagine your world of possibility. However big or small your adventure desires are, if you’re intrigued to discover more about how to achieve them, contact us xxxxxxxx.”
This creates intrigue.
It inspires people to dream, to be curious about their own life, to be introspective, and to consider how and who they want to bring along on that journey.
Intentional Business
Whenever a brand focuses on marketing brochures, the people and planet cost is high. In some cases it can be justified, doing business has a people and planet cost - it’s not about removing this entirely, doing business is about being thoughtful, considerate and well-intentioned for the greatest positive impact possible. Generate an ecosystem of well-being in business.
Let’s consider the stages involved for one brochure to arrive on my doorstep, not forgetting the result, I immediately threw it away. It is a lot of people effort, process and materials to burn through:
Strategy meetings to decide on approach
Budget meetings
ROI calculation (doubtful that people and planet cost was calculated in this)
Multiple meetings for planning
Decisions on tactical implementation
Design time
Scheduling time
Product curation time
Photography (for product focused businesses)
Review meetings, design updates
Choice of print paper, card, colors, ink
Production from print to assembly of packets
Shipping out across the U.S. to target markets
Review of success for client conversion
Review of overall program and assessment of success
A thoughtful request to brands, consider the way you are targeting prospects. This mindless printing and shipping of brochures is costing people and the planet significantly.
If you are going to ship free annual reports and magazines, show me your thoughtfulness and consideration in all that you do and give me a glimpse into the well-being of your business ecosystem.
If you do this is a thoughtful way, this tells me you operate your business with consideration, and that means you are likely to be a business worth exploring.
Your Perspective
Are you overloaded with marketing magazines and brochures, does it concern or bother you? Do you care? Does it work? Do you ever become a new client because of a glossy magazine arriving on your doorstep?
Are you a business that has come up with new ideas to connect with prospects and clients?
Please comment below, we’d like to hear about the innovative and creative businesses truly connecting with people.
Be well, live intentionally
Birch Cove is not a medical or therapy based business, we do not offer guarantees of any kind. We are not responsible for the well-being of businesses or individuals that read, watch, or hear our content, or take part in sessions, or use our services or the services we highlight. Individuals are responsible and accountable for their own well-being. Birch Cove and our Collective members are not responsible for the physical and mental health and well-being of individuals we interact with directly or indirectly. We work to share best practices that inspire healthy living and revitalize a quality of life.