It has long been a truism that 5% response to a direct mail campaign is respectable. This holds true not only in the consignment and resale industry but across the board.
Sounds so low, doesn’t it, especially when you thought you had an offer they couldn’t refuse. But 5% is good, for any offer…even when the offer is, you thought, irresistible.
Actually, I have never been able to find who “started” this truism…but I have learned, first-hand, recently, oh-how-true it is.
Seems like the 5%, and the 2%, holds true for everything. Only 5% of people will react to anything, even when they understand that it is in their best interests to do so.
And only 2% will actually, once they have availed themselves of this item/ knowledge/ competitive edge… put it into realistic and meaningful use.
Why should YOU care about these percentages? Well first, of course, so that you don’t stock up on free gifts or wine or home-made sugar cookies, thinking that after all, you sent an email invitation to 600 people and they will (mostly) show up for your event.
(I can’t TELL you how many stale cookies I and my staff ate over two decades of thinking people would actually WANT to come to our sale or anniversary party with “name your price” items….)
But on a more positive note: You can bet your, and my, bottom dollar on the fact that, if you are READING this entry in my blog, 95% of your competitors are NOT. And of the 5% who do read this? Only 2% will do anything about it/ profit from any knowledge given to them. The rest might MEAN to act, but they won’t.
Isn’t that terrific? You can count as roadkill more than 9 out of 10 of your competitors.
Assuming, of course, that you’re in the 5% of folks who actually listen and mull over, and even better, the 2% who USE their knowledge to make their businesses better.
Here’s hoping you are!
Auntie Kate The Resale Expert 
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This is sooooo true Kate….
It is a lesson I will never forget….
I once had a Manager that simply said in passing….something to the effect that …yes…it was important to me…but,you can be assured…it is not important or even thought of…by the vast majority….Just because you know you have perhaps a wonderful offer…………..doesn’t mean anyone else even knows about it, cares about it, or………..(here’s the 2%) will do something about it…………….
thanks so much for sharing this……………
so well said, Kate. I have one issue that seems to hinder me in reading all these electronic goodies, however. Everything has a LINK and each LINK takes time to load and I lose interest (can we say ADHD?) waiting for my slow connection to load all the information, or else the phone rings, and a customer comes in and I just never seem to be able to read from start to finish. Alas, I started the great PDF you sent, but only got so far-not even to the much talked about WIGGLE RACK and now it is Sunday and I have the time, but it is on my work computer and I can’t access it at home where I have high speed! oh dear, what a dilema. Sometimes I click the link and it fails, as well….especially on your blog….it will go to a dead internet page, then I try again and it works, not sure why, but it definately gives me a case of readus interruptus.
Love the info…keep it coming, I’ll catch up somewhere along the line!