The financial sector spends far more on direct marketing than any other
industry and direct mail is its main medium for attracting sales prospects.
Yet most major financial organisations stubbornly refuse to adopt
sophisticated targeting techniques.
It …s not difficult to understand how the industry came to embrace mass
mailings. Back in the 80s, it was an excellent way of informing millions of
prospects about complicated, legally constrained products.
Investors want relevant information, preferably real-time,
The forward-looking companies which use database technology rather than a
product-based view are using the information to cross-sell products and
contact investors only about things likely to interest them.
Selective customer-retention schemes are beginning to be recognised as a
more practical strategy than relentless acquisition marketing.
Coad Cole & Burey