I think it's important to know if you are wanting to reward people that have spent money with you in the past or target those that you want to get them to. The latter is a hard thing in the family portrait business. Since I do mostly corporate and commercial work it is easier to make a target list. I only spend money on this type of thing if I think there is going to be a return. This is an area that has certainly be cut back by alot of big businesses. Take a look at where you spend alot of money each (say your camera store), what are you getting from them. In this economy I think you are lucky if you happen to get a Christmas card let alone any graft. I have everyday marketing materials like pens, sticky pads, etc. that I will throw in with a Christmas card. For me it is all about working towards a return on anything I spend on them. You should ask yourself, if I do nothing beyond a card am I going to lose business. I knew one person that sent a discount coupon in a card and the discount was only good if they booked within a certain date range. According to him this worked well and it cost him about the same in the end but garnered more revenue.