Bank of America, in partnership with Holsted Marketing Inc., is planning a 300,000-piece direct mail campaign for April 15 that began with inserts on its billing statements.
For at least the past three years, Bank of America and its subsidiary, MBNA, have done a bangtail promotion — perforated mail-back tabs on statement envelopes — on its outgoing credit card statements promoting a jewelry continuity program. This year, the company decided to do a solo promotion sent to customers who had responded to the bangtail offer.
“We’ve had a lot of success with solo direct mail sent to buyer lists in the past and a solid buyer list is essentially what we created with the bangtail promotion,” explained Victor Benson, CEO/president of Holsted Marketing.
The mailing includes address labels and a letter that offers two more free gifts for “loyal Bank of America” customers that join the Elegant Earring Collection.
Benson said that, based on the success of the Bank of America remarketing push, other financial institution clients that run statement bangtail offers with Holsted may consider direct mail campaigns as well.
“Response to a solo direct piece is typically five to 10 times higher than an insert,” Benson said. “It’s just good business sense to retarget the same buyers through another channel.”