Bank'd7
Effectiveness of Statement Stuffers?
Ross G. asked 3 months ago
We stopped stuffing our statements two years ago when our newsletter started mailing on its own outside of the envelope.
But after I opened my M&I Bank statement and saw the estatement promotion inside I was wondering, “Who are these people that ‘never open their statements’ that drove us to drop statement stuffers in the first place?”
Is there any research to the effectiveness of stuffing statements? I get stuffers with all of my bills, and I look at them. They seem effective to me at least.
Thoughts?
Andy L.
I think statement stuffers have a place and are effective to an extent (mind you I have no numbers to back this up, its just opinion). Many people check their statements religiously and those people I’m sure also take at least a quick look at material packaged with the statement. However, the shift toward estatements and other communication channels outside of traditional print are decreasing the number of people that actually receive/look through printed material. In all I think its a mater of sending promotions through all channels of communication (printed statements, e-statements, email, website, blogs, etc.) so that they get noticed by people regardless of their communication channel of choice. Its all about balance in my opinion.
Mike T.
Ross, like you, I tend to flip through the stuffings that come with my statements, but I usually trash them all as well because they are never relevant or targeted.
Also, as Andy mentioned, with an increasing number of members and customers opting for estatements, statement stuffers become even less relevant.
IMO, a more targeted, online marketing approach would be better than mass-producing an auto loan flyer and stuffing it into the statements of all of your customers.
Ross G.
I’m right there with both of you guys on the majority of marketing inside statements.
I’m wondering why our CU stopped doing them entirely though. There are folks who do read them, otherwise I’d assume I’d have no statement stuffers in any of my mail.
The most effective use of them would probably be a multi-message campaign about estatements and online banking driven directly to the people who receive statements.
Drive a campaign about an auto sale through them? Probably not. Push members who receive the statements to use estatements … not a bad idea.
Ross G.
I’m right there with both of you guys on the majority of marketing inside statements.
I’m wondering why our CU stopped doing them entirely though. There are folks who do read them, otherwise I’d assume I’d have no statement stuffers in any of my mail.
The most effective use of them would probably be a multi-message campaign about estatements and online banking driven directly to the people who receive statements.
Drive a campaign about an auto sale through them? Probably not. Push members who receive the statements to use estatements … not a bad idea.