To name or not to name

We have an ongoing debate here in the office about personalising mail we send out to prospect businesses.
* Some people say we have to have a name contact for the business.
* Others argue that having the business is enough.
The right answer? I have no idea! (You’d expect that answer now I’d imagine)
Taking a look at the results of our mail out campaign shows that sending material to:
Acme Accounting
1 Smith St
Smithsville
works okay.
What works better is if the material is addressed to:
Joe Smith
Acme Accounting
1 Smith St
Smithsville
But then you have to weigh up the cost of developing a database with names and job titles. It is far easier to develop a database of just business names (i.e look in the Yellow Pages). Which means that we can send far more non-personalised material than personalised.
Taking all of that into account I’d say that (and I don’t have the exact numbers to back this up) it’s better to personally address the material. Your conversion rate (whether that be in leads or sales) is much better.
Regards
Brendon