Show Me the Money – 3 Major Direct Marketing Trends in Banking

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.

  1. 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.
  2. 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.
  3. 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!

Appends – How do they work?

Appends are commonly overlooked as a great way to clean up your data and augment what you already have.  There are several types of appends that can be performed depending on your needs and working with your existing lists allows you to maintain your original data set but address gaps. Whether it’s phone numbers or names that are missing, appends fill in the blanks!

Want to learn more? Read on!

Phone Appends:  This process adds phone numbers to an existing mailing list enhancing the depth of your prospect information.  Adding a phone number is important because having this information allows you to follow up via telephone after a mailer campaign, adding a second communication channel to your repertoire.

Reverse Append:  A reverse append adds names and addresses to phone numbers.  Natimark can link your consumer or prospect list with accurate, updated address information so you can leverage the direct mail channel.

Data Append:  We frequently find that our clients have access to names and numbers but not to the expanded profiles for their prospective clients.  Natimark is able to provide you with over 500 demographic, psychographic and lifestyle elements allowing you to be more specific in your targeted marketing.

Why are appends important?  They result in more qualified leads by addressing the information gaps.  Having more qualified leads will result in a higher ROI on your marketing efforts. Additionally, leveraging appends results in the ability to begin multi-channel marketing.  Whether you are supplementing your mailers with phone calls or vice versa, hitting your prospects at multiple angles generally results more successful campaigns.

Contact Natimark today for a consultation and to determine if you can benefit from appends!  Our Consumer In-Sight database is one of the most complete and robust in the country!