Leveraging the Power of Personalized Communications

Innovative Solutions to Build Customer Loyalty

Over the years, financial services organizations have experimented with a variety of programs and tactics aimed at improving customer loyalty.  Unfortunately, as competition intensifies, customer bonds sometimes erode.  Marketing executives are challenged to find more effective and efficient ways for attracting and retaining customers.  Traditional methods of customer communication just don’t yield a satisfactory ROI.  Industry data indicates static direct mail and e-mail marketing campaigns are averaging response rates of 1-2 percent.  The question is, how do you cut through the clutter that barrages customers daily, and engage them in a way that delivers improved results? 

The following highlighted applications offer innovative solutions, enabling you to address the varied communication needs of your organization while maintaining the integrity of your brand. 

Wealth Management Kits
Wealth management kits are used to effectively sell a variety of financial products and services to current and prospective customers.  These kits typically include product sheets, information cards, and contact information and are packaged within a folder or envelope for distribution to individual consumers.  With personalization, companies can inform their customers of their current portfolio performance while cross-selling additional products and services, thereby generating incremental revenues and increasing brand awareness. 

Retirement and Investment Planning Guides (IRAs, 401Ks)
When it comes to retirement planning and investing, customers are inundated with investment theories, tools, and advice.  The ability to personalize financial data and figures based on the target audience is invaluable. 

In order to cut through the volume of materials your customers are receiving and help them take the first step in actively planning a retirement savings strategy, provide them with information specific to their current financial situation, based upon personal data.  Customers seek projection figures over the years and documented fee schedules—they don’t care to see generic, study derived or sample figures. 

Direct Mail (New Service/New Rate) Promotions
Sixty-one percent of consumers in a recent InfoTrends study stated a preference to receive direct mail.  Within this category, personalized direct mail with messages and offers designed to reflect the consumer's needs and interests were most favored.  

Once again, by drawing on your customers’ personal data and targeted profiles, the opportunity exists to create 1:1 personalized communications.  For example, if customer data indicates that an individual primarily handles their small-business financial transactions with your organization, than distributing a personalized direct mail piece highlighting your current small-business loan rates or business credit card programs brings to light the value-added services your organization provides and creates cross-selling opportunities.

Seminar Materials
For those financial services providers looking to increase customer penetration, the effective use of seminar materials can help ensure customers act upon seminar content.  From retirement prosperity and managing your mortgage, to tackling student loans and combating credit card debt, financial seminars offer a wealth of information to customers and prospects of all ages while simultaneously showcasing your organization’s offerings.

Though the process of kitting and distributing financial seminar materials is often seen as an administrative burden, digital composition and personalization tools can allow for the creation of highly-targeted, demographic-specific materials. 

The evidence is abundantly clear—personalized communications have a significant impact on response rates.  According to industry analyst InfoTrends, personalization increases response rates by 34 percent, order size by 25 percent and repeat business by 48 percent. 

To learn more about tools and best practices for attracting, retaining and growing your customer base, contact Standard Register today.  With powerful, cost-effective tools for creating and delivering targeted, personalized communications, you’ll be empowered to dramatically improve customer response rates and drive repeat business.