Banks Increase Direct Mail Advertising

Banks typically increased direct mail advertising volume during the third quarter, according to Mintel Comperemedia.

The Chicago-based marketing research firm estimates that banks collectively increased direct mail volume 42%, compared to the second quarter.

Mintel says banks mailed approximately 53 million pieces during the third quarter, almost twice as much as the third quarter of 2007 when banks mailed 29 million pieces.

Much of the mail coming from banks was for customer retention, typically including messages about security, honesty and understanding consumers’ concerns about ongoing credit crisis, according to Mintel’s director of research Diana Sheehan.

Banks promoted savings to customers more than anything else, followed by promotions for retaining checking account customers, according to Mintel.

“We saw many banks increase their direct marketing in an effort to hold on to the clients they have,” said Sheehan in a statement.

Mintel notes the increase in mail volume came from large institutions such as Bank of America and also smaller regional banks like Parish National Bank and Webster Bank.