Investment consultants Bidart & Ross decided last year to stop making cold telemarketing calls to drum up leads for its advice about corporate 401(k) plans.
This way, reasons Mike Fleiner, partner in the Reno, NV firm, prospects could find out what Bidart had to offer while the company got an idea of the services prospects wanted.
So in October, Bidart sent an initial wave of promotional postcards to some 7,000 CEOs, CFOs and human resources managers. The cards went to names rented from specialized databases in the financial field.
Bidart’s response rate was below 1% at deadline, but Fleiner expects it to pick up after the holidays. A second mailing is due early this year.
Despite the offerings’ complex nature, cold calling had worked fairly well for Bidart in the past.
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