3.4x Increase in ROI for Direct Mail Campaigns
A renowned high-end jewelry retailer, prized for its luxury goods, was looking to improve their response and conversion rates of outbound direct mail campaigns. They leveraged WealthEngine to identify HNWI they could reach through their existing marketing methods.
The high-end jewelry retailer wanted to increase revenue from targeted customers within the luxury sector by improving which high-end clientele they were reaching. They needed to identify which customers, based on their interests, net worth, and propensity and capacity to spend, should be reached using direct mail.
Using WealthEngine, the retailer was able to identify a targeted list of 22,000 households, each with a net worth over $5M. Not only were they able to identify which households to send direct mail to, but they were also able to gain custom demographic and lifestyle attributes on each.
Within just 60 days, the high-end jewelry retailer generated over $281k from 130 customer purchases, resulting in a 3.4x ROI on their direct mail campaign.