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Good news: Banks using more direct mail
Darin Painter
11/26/2008 12:13:00 PM
Direct mail offers sent by U.S. banks to their customers rose 42% from Q2 to Q3, according to research from Mintel Comperemedia. The sharp increase was attributed to banks’ efforts to reassure clients during the current financial crisis. “Banks view direct mail as an effective channel for customer communication. So, as the market settles and financial institutions work to rebuild trust and profitability, we expect they’ll continue with heightened direct marketing efforts to current clients, at least into early 2009,” predicted Diana Sheehan, Director of Research for Mintel. Banks sent approximately 53 million offers to their customers in Q3. The most notable shift came in the savings category, as banks sent nearly 300 times more savings-account direct mail communications to current customers in Q3 than they did in Q2.
