Banking institutions increased the amount of direct mail they sent to customers and prospects in the first half of 2002, Mintel's Comperemedia said yesterday.
According to the media monitoring system, banks are increasing their marketing efforts and the bundled product offerings they include to reduce costs, increase customer retention and generate new business. It tracked a 38 percent rise in banking direct mail in first-quarter 2002 compared with fourth-quarter 2001 and a 35 rise in the second quarter of this year compared with the first quarter. The number of statement inserts rose as well.
Comperemedia said banks are using direct mail to promote various services and products, including checking, online banking, debit cards and some investment vehicles.