A French Economist Walks Into A Bar…

February 16, 2024      Kevin Schulman, Founder, DonorVoice and DVCanvass

Direct marketing can feel like that overeager friend showing up uninvited but occasionally bringing really good snacks.  The one always knocking on your door with something to sell, boast about, or ask for.

But what if the real magic of direct marketing isn’t in the knock or the sale, but the echoes left behind?

Frédéric Bastiat, a 19th century economist called it the “seen” and the “unseen” of all economic decisions.

The “seen” is like direct marketing’s greatest hits album—it’s tangible, measurable, and straight to the point. Send an email, get a click. Mail a catalog, receive an order. It’s satisfying, like popping bubble wrap or seeing a perfectly organized spreadsheet. But focusing solely on these hits is like only eating dessert—it’s good but misses the larger, healthier part.

The “unseen “effect is always larger because it encompasses the vast silent majority—those who see your ad, ponder over your mail, or anonymously stalk your website. Imagine a stadium full of people where only a handful cheer aloud; the rest are the unseen, absorbing, and having a mix of positive and negative reactions to the game (your message) without taking immediate action.

Spread the Word, Not Irritation

How often are we designing our strategies with this silent audience in mind? Maximizing reach while avoiding the dreaded “ugh, not them again”. It’s about spreading the word without spreading irritation, like trying to butter toast without tearing it.

Our goal? To create memory associations that stick, which lowers the work required for future marketing to those same people.   Each unseen interaction is like a deposit into their mental bank of brand favorability, accumulating interest over time.  Note:  This can take time for donors to make a withdrawal from their mental account to your checking account.  Brand ads run alongside direct response ads show no effect after 3 months but produce significant lift in money raised after 10 months.

Beware of Unseen Effects

And let’s not forget the cautionary tales of attrition.  More doesn’t equal better or even more.  Diminishing returns and irritation are real.  Or the premiums showing us freebies can attract while also distracting from the real reason to engage with a brand.

The unseen effects of direct marketing are like the dark matter of the advertising universe—invisible but immensely powerful.   The unseen is your largest cohort, whether they turn into fans or haters is up to you.  Impressions are often a more useful stat than clicks, as long as, they’re positive.

Kevin

One response to “A French Economist Walks Into A Bar…”

  1. Tom Ahern says:

    Kevin Schulman reveals an essential truth re: donor retention … and does it thanks to a 19th-century French economist. You’ll laugh, you’ll nod, you’ll go back to your messaging tasks with a new understanding of your audience … and your “brand.”

    As they say in Dublin: “Tanks, Agitator!”