Companies in the banking and credit card industries often blur together in the minds of consumers because of their similar services and tactics. Effective marketing is essential to make your business stand out from the crowd, and direct marketing is an ideal tool to do just that.
Why Is Direct Mail So Successful for Banking & Credit Cards?
The internet is rife with financial scams, so savvy consumers regard marketing materials that arrive in their inboxes, social media feeds, and Google search results with skepticism. While this can help safeguard their resources, it can also cause them to overlook legitimate companies, like yours.
Because it requires more logistical planning, few scammers manipulate direct mail, so consumers tend to trust it more. Utilizing a direct mail campaign on its own or in conjunction with your digital efforts can help establish your business as credible and trustworthy. This improves the odds customers will choose you.
Precision & Customizability
Direct mailing is highly precise and customizable, enabling financial institutions to target specific potential customers. Lenders might reach out to renters who may want to buy a home. Credit card companies may encourage young adults to start building their credit. Retirement advisors may aim for greater visibility among working-age adults.
Direct mail can target individuals based on age, income, interests, and virtually any other criteria. Variable data printing enables individual pieces to be customized with the recipient’s name and a personalized message. Financial institutions are therefore able to tailor their messages to very specific recipients.
Ability to Prescreen
Financial institutions can prescreen individuals through credit bureaus to pre-approve them for credit cards and/or loans. Businesses can also use their own customer base to cross-sell other products. This helps ensure only well-qualified recipients receive a mailing.
Prescreening promotes better user experiences by preventing those unapproved from applying. This can save your company the time and resources otherwise spent processing those applications. Direct mail is the only truly scalable channel to utilize the prescreening process as part of a marketing campaign.
Beyond customization and prescreening scalability, direct mail is easy to scale. Modern printing technology, such as the HP PageWide Web Press T240 HD, is versatile and efficient, enabling large-scale direct mail printing without sacrificing quality. Whether you’re sending a mailing to dozens or thousands of recipients, the best direct mail companies make the process simple and painless.
Direct mail has an extraordinarily wide reach across all demographics. While strategies may vary based on generation, virtually all adults regularly check their mail. In contrast, those who have inconsistent internet access may be less likely to see your digital marketing efforts.
Recipients are also more likely to keep physical mailings longer than digital messages—which are often ignored or immediately deleted.
The direct mail experts at Design Distributors are here to help your banking or credit card business establish its credibility, maintain existing customers, and establish connections with new prospects through an effective campaign. Contact us today to learn more or request a free quote.