Unlocking the Power of End-of-Year Benefits Letters: Bridging Traditional and Digital Marketing
August 31, 2023
In the ever-evolving landscape of marketing strategies, one might assume that traditional methods like direct mail would become obsolete, overshadowed by the rapid advancements in digital marketing. However, there are hidden gems within the realms of traditional marketing that continue to prove their worth, and End-Of-Year Benefits Letters are a prime example. In this blog post, we’ll delve into the world of End-of-Year Dental Benefits Letters (or EOY Letters) exploring their significance, creation process, success rate, and their unique ability to yield results even in the age of digital marketing dominance.
Cody Gallagher, Vice President and head of Sales here at Innovate Dental Marketing; also provides some pieces of insight on End-Of-Year Benefits Letters in this blog post. With over 17 years of experience in the dental marketing industry and an impressive knowledge of direct mail and EOY Letters; Cody provides useful commentary on why these direct mail products are still useful today.
What Are End-Of-Year Benefits Letters?
End of Year Benefit Letters, are a traditional marketing approach where organizations send personalized letters to their audience towards the end of the year. These letters typically contain information about special benefits, offers, or updates that are relevant to the recipients. EOY Benefit Letters are designed to create a sense of urgency and encourage recipients to take action before the year ends.
In the 17-plus years that Innovate Dental Marketing has been working with Dentists and Dental Service Organizations to provide a wide array of marketing services; Cody shares this piece of tribal marketing knowledge regarding End-Of-Year Benefits Letters:
For Dentists and Dental Practices specifically, End-Of-Year Benefits Letters can be used to reactivate patients and remind them of their unused dental benefits. Not only is this beneficial to the dental patient in order to maintain their dental health, but it is extremely beneficial for the dentist and dental practice. Reactivating patients allows for schedule gaps to be filled as well as an increase in production heading into the 4th Quarter of the Fiscal Year.
Are End-Of-Year Benefits Letters Still Relevant?
The digital era has reshaped marketing landscapes, making it natural to question the relevance of physical mail. However, End-Of-Year Benefits Letters have maintained their effectiveness, especially in industries like dentistry.
Direct mail campaigns like End-Of-Year Benefits Letters can stand out amidst the sea of emails and digital ads, offering a tangible, personal touch that digital marketing often struggles to replicate.
The Power of End-Of-Year Benefits Letters in the Digital Age
In a digital marketing landscape brimming with innovation, it’s reasonable to wonder how End-Of-Year Benefits Letters can attract patients. Their success hinges on their ability to break through the digital clutter. In an environment filled with emails and online ads, a physical letter can evoke curiosity and interest. The tactile experience of holding and reading a letter nurtures a deeper emotional connection, translating to higher engagement rates.
Artificial Intelligence platforms, such as Chat GPT, and other Open AI Platforms have created the question of whether traditional marketing efforts like direct mail and End-Of-Year Benefits Letters still hold power. With so many new Open AI Platforms being created with the ability to provide instant content creation; and even the ability to provide professionally written letters; there is still the want and need for a more personal and human touch to EOY Letters, and direct mail as a whole.
Cody gives a great example of how End-Of-Year Benefits Letters still fit into the digital marketing world:
End-Of-Year Benefits Letters are “The Closer” to all of your digital marketing efforts. These letters are a beautiful companion to all marketing efforts and can be seen as the closing effort for a patient to finally take action if they haven’t done so already.
Furthermore, End-Of-Year Benefits Letters tap into psychological triggers of exclusivity and urgency. The personalized nature of these letters makes recipients feel valued, motivating them to respond positively. The time-sensitive element tied to the year’s end fuels a sense of urgency, encouraging recipients to take action swiftly.
Design, Production, & Mailing Process
Many organizations choose to handle the design, production, and mailing process either in-house; or many create the direct mail pieces, and have print and mail houses to handle the printing and mailing ensuring that the letters are tailored to the recipient’s preferences and needs. At Innovate, the content our design team creates is crafted to be concise, engaging, and compelling, while the design reflects the organization’s branding.
Once our team has completed the design process and has written your custom EOY Letter; we can help you generate your list of patients, and mail it all in one day! This means you can get the attention of inactive patients and have them ready to schedule their next appointment.
Success Rate of End-Of-Year Benefits Letters
The success rate of End-Of-Year Benefits Letters can vary based on factors such as the industry, target audience, and the quality of the campaign. However, many organizations report positive outcomes from these campaigns. The personalized nature of the letters and the sense of urgency they create often drive recipients to take action. Unlike email campaigns, where emails are competing against other digital correspondence; the call to action is lost to the potential patient. Metrics such as response rate, conversion rate, and ROI are also used to measure the effectiveness of these campaigns.
While exact percentages of open rates for direct mail campaigns and email campaigns are not always completely accurate; Cody and the Innovate Team have come to learn over time what the industry standard open rates generally look like:
Average email open rates can be between 20% – 25%, whereas average open rates for direct mail can at times be a lot higher; closer to 80%. This shows that direct mail campaigns are still effective and successful in the modern world of marketing.
While these open rates for direct mail and email campaigns are constantly changing and may not always be accurate; ultimately, this shows that EOY Letters are still successful. As previously mentioned in this blog, they are a beautiful companion to all digital marketing efforts, proving they are a tool for success in reactivating your patients.
Conclusion
While the digital marketing landscape continues to evolve at a rapid pace, traditional marketing approaches like End-Of-Year Benefits Letters remain relevant and effective. Their ability to create a personal connection, generate a sense of urgency, and stand out from the digital clutter sets them apart. By integrating the strengths of both traditional and digital marketing, organizations can unlock the full potential of End-Of-Year Benefits Letters and achieve remarkable results.
At Innovate Dental Marketing, we’ve seen the success many of our clients have had with our End-Of Year Benefits Letters; and we are eager to share that success with you by creating a beautiful and effective direct mail campaign to send out to to your patients. Making sure that not only are your patients healthy and using their dental benefits, but that you as a dentist or dental practice owner, can have a successful end to your fiscal year.
