Direct Mail for Banking & Credit Cards
Innovative Approach to Scale Your Credit Card Direct Mail Campaign
The Reports of my death have been greatly exaggerated– Mark Twain.
Well, this is the famous quote that comes to our mind when thinking about direct mail. We can say the same for direct mail, observing the ever-changing trends and the demands of our clients.
At PostGrid, we see credit card direct mail as a new account acquisition channel for financial institutions and other personal lenders.
Over the past decade, credit card issuers and loan lenders have drastically increased investing in several digital channels to create new credit accounts. It is because digital marketing offers low costs with a high customer response rate.
Even so, direct mail is still a primary method used by several lenders to propel new account creation. For a good reason- it works!
Keep reading this blog, and let us help you know more about a successful direct mail credit card campaign.
But, first, let’s start with the basics!
What is a Credit Card Mailer?
Credit card mailers are card envelopes available in a standard thickness of 300 GSM. These include tough bags to provide additional protection to your credit cards and other items.
Also, credit card mailers are compliant with 20mm thickness for direct mail envelopes. Additionally, these direct mail credit card mailers are the best for sending various documents affordably. The Self-seal closures are labor-saving and eliminate the use of staples and tape because of the binding seal present on the same.
Now let us take a step ahead and talk about the most innovative approaches for a successful credit card direct mail campaign.
Top 5 Approaches to a Successful Banking & Credit Card Direct Mail Campaign
Below is how you can create a successful direct mail campaign to promote your banking and credit card services. So, keep reading:
Sell Your Benefits and Not the Features:
They say- It is all about selling the sizzle, not the steak!
This is a basic rule when promoting your services or products. It may include sending offers through letters, postcards, and credit card mailers. Make sure to mention the specific features of your product or service when trying to convince your customers to buy them.
In other words, you must tell your customers about what you have for them, both with detailed information and bullet points. For example, MONEY- SAVING Offers for following traffic rules or being a good driver.
Also, do not tell customers about your features- Show them why you are the best. So, if promoting a credit card offer through direct mail, add graphics highlighting the benefits.
Write an Emotional Copy
We all like to make decisions based on facts and figures. It is something that most marketers (including us) prefer following when initiating a credit card direct mail campaign. However, it is not the right thing to do.
Shocked?
Well, the reality is people like to settle onto something when you add emotions or powerful copy to action. Following are the emotional drivers in marketing that you try to scale your campaign:
- Fear
- Anger
- Flattery
- Greed
- Exclusivity
You can build a direct mail credit card campaign by directly appealing to your customers.
For instance, you can write something- Save more on all credit cards with us (Greed). Or pay your bills on time as no one else will! (Fear).
Be careful here!
Try not to sound too negative while using your writing approach. It is not a good idea to scare or depress your target audience. Instead, give a little space to your customers to consider their financial status more seriously.
Provide your customers with a relaxed experience while they make a buying decision. Try offering a concrete solution to put them in control and encourage them to take action. A creative copy will also help you establish an omnichannel presence with ease too.
Segment Your Target Audience
Data is the essence of direct mail because you have to mail your items to everyone. Personalize your campaigns with demographic data and other information at low cost and with relative ease.
You can create or buy a mailing list to segment your audience. PostGrid helps you with a custom mailing list following regulations from the governing authorities. The tool lets you segment your customer base for additional credit card promotions or services and launch your credit card direct mail campaign depending on their needs.
A Comparison Shop
Differentiate yourself from your competitors by highlighting your unique advantages. Make a comparison of your own products and services and theirs. Startups that operate exclusively online and/or through an application are speed-focused.
Furthermore, this shows their commitment to delivering a fast and easy experience to customers. However, you can also offer in-person customer service and advice.
Highlighting the differences between industry averages, interest rates, and more can be illustrated using charts, bar graphs, and infographics.
Promote Discounts & Offer Incentives
Let us face it- we all like free stuff or an undeniable deal. For decades, new bank account holders or credit card users typically received a physical gift, such as a kitchen appliance. Today, cash and rewards points are deposited into the customer account to keep them motivated.
You can also send discounts and offer your customer incentives via credit card mailers. And, to do so, you need not be shy. Design your mailers using big headlines and graphics to highlight the reward or offers. Because if you do not do so- your competitors will!
Benefits of Using Direct Mail for Banking & Credit Cards
A banking or credit card direct mail can help card marketers with:
Building Credibility: Direct mail campaigns can help you establish your organization as credible and worth trusting. It further improves your chances to sell your services to the right customers.
Precision & Customization: Financial institutions can target specific potential customers with direct mail, which is highly precise and customizable. Several lenders can reach out to customers interested in buying a home. Young adults can be encouraged to maintain their credit score by credit card companies. And, working-age adults may be urged to seek out retirement advisors.
Individuals can be targeted by age, income, interests, and virtually anything else. By using variable data, you can add the customer name with a personalized message in each piece of your credit card mailer.
Also, you can tailor your messages according to the data to nurture you and generate your leads through direct mail.
Scalability: The scalability of direct mail goes beyond customization and prescreening. PostGrid, for example, is versatile and efficient, enabling large-scale direct mail printing without compromising quality. The platform makes sending mailings to dozens or thousands of recipients straightforward.
Expanded Outreach: You can reach your customers through demographics by direct mail. Every adult checks their mail at least once a day, regardless of generation. Also, the recipients tend to keep physical mail items for long when compared to digital messages, which are generally ignored or deleted.
Moving Forward With Your Credit Card Direct Mail Campaign
When times are rough, people are always thinking about money woes. In other words, direct mail can be a powerful tool for you to stand out from your competition both online and offline. Be sensitive to your customers and treat them as people who have dreams and hopes you can help fulfill.
PostGrid is here to help you with all your banking or credit card direct mail needs. The tool provides you with everything to establish your business’s credibility, maintain existing customers, and establish connections with new prospects through direct mail automation.
Contact us to learn more about automation and launch your credit card direct mail campaign today!
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The post Direct Mail for Banking & Credit Cards appeared first on PostGrid.
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