Value-Added Enhancements Amplify ROI | Financial Services
8/12/2019 RRD
See how a financial marketer increased ROI by 500%
CHALLENGE
A leader in the consumer-facing financial services industry mailed a simple 81/2-by-14-inch tri-folded self-mailer kit with little to no personalization included in the piece. The response it received was underwhelming; the campaign needed a makeover. A campaign strategist from RRD Marketing Solutions was challenged with helping increase results while maintaining a business-like feel to the financial brand’s mailings.
SOLUTION
The client was resistant to greatly increasing the cost of their format, so a series of format tests were developed to slowly add enhancements to their current control. We then analyzed results to ensure the level of response more than made up for any added cost.
Each incremental test was a winner on a cost-per-response basis. Our client saw the value of investing more dollars upfront to ultimately boost revenue. Tests included these value-added enhancements:
- Localization, by adding state imagery
- A personalized plastic PIRX® card
- Addition of colored stock
Upon further testing, all three of these elements, when included in a water-bill-style snap pak mailer, proved to have the greatest effect on response.
RESULTS
We were able to find the right mix of business appropriate style and value-added enhancements to fit this fin-serv marketer’s comfort level. The current control achieved results the client could only have hoped for.
The new water bill style mailer with state localization, a pink letter and a personalized plastic PIRX card showing through a window achieved a 68% lift in response and a 500% increase in ROI. And to top it off, the client achieved postal savings through postal optimization techniques that RRD Marketing Solutions enabled them to implement.
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