Direct Mail in the Financial Sector – The Key to Success.
For businesses in the personal finance sector, direct mail remains a valuable tool for reaching your target audience, and engaging with new and existing customers. Furthermore, recent statistics highlight that consumers still prefer direct mail as it is a tangible marketing method that they engage with time and time again.
The statistics- Financial Services’ Direct Mail:
- Direct mail from financial services boasts a 98% open rate, with 82% of this mail opened on the same day as delivery.
- 13% of consumers, aged 25-55, will visit the online page for a financial company whose mail they have received.
- 19% of consumers, who receive mail about financial services, will discuss the product with another person.
- Financial services’ direct mail is revisited on average 4.4 times and lives in a consumers household for an average of 6.9 days.
How can you make the most out of your direct mail marketing in the financial services sector?
- Be clear on your target audience and personalise your marketing mail
One of the key advantages of direct mail is its ability to target specific audience segments effectively. In the financial sector, where different demographics have varying financial needs and goals, targeted campaigns can yield impressive results. Whether it’s sending retirement planning information to those close to the end of their careers or offering cash flow planning to recent graduates, direct mail allows financial institutions to tailor their messaging for maximum relevance to their receiving audience.
- Ensure you have clean, relevant data
Once you are clear on your target market, ensuring you have an up-to-date, clean data set is vital to your campaign’s success. Clean data will save you money and boost your return on investment.
At Citipost Mail, we are currently offering a free data health check on your marketing mail data through our Pure Data product. The health check uses the UK’s largest and most inclusive suppression suite to check your marketing data, providing you with a full report on the number of addresses in your data set that need to be removed and why.
Claim your free data health check here
We can also supply you with relevant data lists if your data set needs expanding, or refining.
- Provide meaningful, educational content to ensure your mail is adding value and is kept in households for longer.
Financial concepts, initiatives and investments can be complicated and confusing in today’s financial landscape; however, consumers are desperate to know the best ways to manage their money.
Direct mail provides a superb platform for delivering informative content about various financial products and services. Whether it’s explaining the basics of investing, outlining retirement planning strategies, or offering tips for managing debt, educational marketing mail can empower consumers to make informed decisions about their finances.
By creating something that uses simple terminology, that will add to or up-skill your target audience’s knowledge base, your direct mail marketing is more likely to be kept in the household and re-read by your consumers. By sharing quality information that is easy for the consumer to understand, financial businesses will also position themselves as trusted advisors and sources of valuable information, prompting consumers to visit websites linked to the firm for more information.
- Brand Awareness
Direct mail can also play a vital role in building brand awareness within the financial sector. By consistently sending informative and valuable content to consumers, financial institutions can reinforce their expertise and establish themselves as leaders in the industry, getting consumers talking about their brand. Whether it’s sharing success stories, highlighting unique offerings, or showcasing community involvement, direct mail can help strengthen brand recognition and loyalty over time.
- Multi-channel Integration
Direct mail doesn’t exist in a vacuum – it’s a proven method to complement and enhance other marketing channels, such as email, social media, and online advertising. By integrating direct mail with digital marketing efforts, financial institutions can create a cohesive and seamless experience for customers across multiple touch points. Whether co-ordinating messaging across different channels or using direct mail to drive traffic to digital platforms through web links and QR codes, multi-channel integration can amplify the impact of marketing campaigns.
Direct mail remains a valuable and effective strategy for marketing in the financial sector. By leveraging its ability to target specific audiences, personalise messaging, deliver educational content and build brand awareness, financial institutions can unlock new opportunities for connecting with customers and achieving their marketing goals.
References:
JIC mail data dashboard – https://jicmail.datatile.eu/portal/60da4fb3-2101-492a-9b76-5db89d311505
