The financial industry has always been a key player in the direct marketing world. There’s no denying that in this highly regulated industry, marketing requires finesse and strategy in order to be successful. At Natimark, we have observed these trends as we are a leading provider of both lists and print and postage for the financial industry.
- Checking Account Direct Mail Campaigns Peak. One of the most notable is Chase – who is notorious for sending targeted direct mail incentives offering up to $400 to open new accounts. Chase is one of the major banks who has seen significant growth in their checking customers leveraging direct mail channel. Capital One 360, Discover and Citi all aggressively pursued direct mail acquisitions as well – the three accounting for over 50% of the direct mail volume in Q1 of 2014.
- Large Banks are Sending Fewer Emails. Banks are leveraging a more robust multi-channel environment to get information out to their consumers. With the surge in mobile banking, alerts have become a popular way to disseminate information. Banks are also consolidating information into newsletters that are targeted to their customer segments.
- Banks and Credit Card Companies Increase Acquisition Targets. The financial industry is one of the most competitive markets to acquire customers in. In Q1 of 2014, the banks pushed a full on acquisition assault through every channel with an increased focus on direct mail campaigns. Up 32% for checking and 18% for savings, these targeted efforts are indicators of how competitive the market has become.
Are you a business in the financial industry? Contact us today to find out how we can leverage our learnings from the financial industry to help drive your customer acquisition strategies!