Mintel: Banking, Investment DM Remains Steady
Banking direct marketing mail volume never took the precipitous hit that mail saw in the lending sector. Instead, as banks struggled to recover from loan losses, they fought to maintain deposit customers, which helped keep direct marketing efforts in stable condition. In the first quarter, banks mailed an estimated 297 million offers for new checking accounts, savings products, online banking services and debit card offers. In the first quarter, more than 90% of offers had an incentive, compared to only 74% in first-quarter 2008.
There is one sector that is not only stabilized, but on the move ... upward. Investment mail has been climbing steadily over the past three quarters. Investment mail for brokerage accounts increased by just over 70%, while IRA mail grew by 15% in first-quarter 2010 compared to the same time frame last year.--Tanya Irwin