With a slowing economy, rising interest rates and the cost of living, Canadians are hesitant on how and what they spend their money on. Every dollar counts and the need to be mindful of where those dollars are spent can actually play into how you, as a marketer for your business can drive sales and increase revenue with direct mail. Not sure how? Continue reading to learn more!
Changes In Spending Habits For Canadians
From a recent survey conducted by Canada Post on how Canadians are looking to save during these times, the results state that Canadians are looking for steeper discounts on essentials as well as stocking up on those essentials such as food, shelter, transportation and even medical care. This is where companies like yourself can take the opportunity to showcase how and why a consumer still needs your product or service. These could range from dining, movies to electronics and clothing. You can do this by offering promotions on your direct mail campaigns such as a discount on a first time purchase, a percentage or dollar amount off, or BOGO offers. It is also at your discretion to instill expiration dates which encourages consumers to think fast and act now.
Generational Differences And Using The Opportunity To Sell
Baby Boomers
This particular generation was born between 1946 and 1965. They typically like to stock up on items when they are on sale and are the ones looking for the deepest discounts. Direct mail is the ideal way of reaching this group especially when they prefer to look at flyers while creating their shopping lists.
Gen X
This generation was born from 1966-1980. Not as much as the baby boomers, but this group will stock up on their essentials while also looking for these items to be discounted. They are known to shop around for the best prices and will often price match. Using direct mail campaigns to reach this group is beneficial as they will hold onto promotional flyers that they know will be used.
Millennials
Millennials are born between the years of 1981 and 1994. Out of the previous generations, this group isn’t known to stock up on essentials but rather purchase as and when needed. Some may think that the only way to market to this group is through digital ads, but millennials are still looking for those weekly flyers and promotions in their mailbox. Even more so, millennials with children are more likely to stock up and be on the lookout for discounts.
Conclusion: Direct Mail Marketing is an Essential part of your Marketing Mix
With changes in how consumers are spending their money, more than ever, 41% of Canadians are continuously looking for ways to save and paying more attention to sales and direct mail that comes to them, that’s 6 in 10 Canadians. With these figures it should be a great reminder to not decrease any marketing spend and actually invest more into how you reach and communicate with them.
If you’re looking for ways to connect with current and potential customers, our local Marketing consultants are here to help you make that connection. Contact DRMG today!