Developing direct mail credit card acquisition strategies
Packle's team offers expert support in helping our customers to develop direct mail credit card acquisition strategies. (Yes, really).
We get it, we really do. Credit card acquisition is a hugely competitive field, and the stakes are high. Being tasked with developing direct mail credit card acquisition strategies to generate renewed interest in credit card offers can be a challenge. After all, how innovative is direct mail? It’s nearly 2020, hasn’t everything that could be done, already been tried?
Hand in hand with developing and exploring new techniques, credit card direct mail acquisition experts are also be in charge of building a testing pipeline – analysing what works, what doesn’t work, what resonates with your target audience and where the potential opportunities lie.
Successful credit card acquisition isn’t just about an offer and a target audience, it’s also psychological: a large part of any credit card acquisition leader’s role is refining and reviewing what your audience wants to see until you’ve developed a strategy that can build results in future campaigns.
Through it all, you’ll need a series of partners that understand the demands of your role and what you’re looking to deliver – both to internal stakeholders and to your target audience. Here at Packle, we have a team of direct mail experts who have significant experience in assisting some of America’s largest financial institutions to test and develop their direct mail strategy for credit card acquisition.
How? And, well, why? After all, doesn’t Packle produce speciality paper…how does that link to strategy and development for credit card acquisition via direct mail? Actually – it’s closer than you’d think. If developing credit card acquisition strategies was as easy as reviewing data and analysis and simply implementing a few changes here and there, acquisition rates would be higher (and you wouldn’t be reading this).
As well you know, data is only half the game, and when it comes to direct mail and credit card acquisition, most of your success is riding on the envelope. No matter how good your offer, your rewards or your loyalty schemes, if your target audience isn’t interested in your mail or if you’re failing to make an impact the second that envelope is in their hands, the battle is half lost already.
Which brings us to testing and using unique, innovative envelope materials to do the hard graft of canvassing for you. The envelope has to have it all: the premium look, an ability to appeal to millennials (or Gen X, for that matter), the knack of looking trustworthy, but also enticing…it’s all got to come together to be one, perfect package.
Working with partners like Packle who understand the time, processes, logic and need for extensive testing is an essential part of direct mail success and the development of credit card acquisition strategies. As such, we go above and beyond to support our customers in line with their KPI’s: providing insight and a dedicated team to help you understand the materials that will resonate with a target audience, as well as assisting you to refine, test and experiment with the look of your direct mail envelopes to help deliver (pun intended) the ultimate returns.
Supporting our customers to run tests, working with your other partners to provide fully branded mock-ups and providing extensive sample sets is all part of our standard service. If you need to run ten tests (or twenty) to look at different variants, make modifications or build the data sets that help you identify the best strategy, we’re with you every step of the way.
We also understand that you work closely with senior leadership. Ideas, potential and ‘innovative envelope materials’ are great attributes, but credit card acquisition is also a data and numbers game: we understand you need concrete examples to take back to the office to discuss and review. Our services are set up (and our team is at your service) to help you get the data you need from testing, so you can review how the results stack up and you have total peace of mind before you launch a campaign.
What does Packle do?
Packle produces a portfolio of speciality papers that can be made into direct mail envelopes. Our products have proven to be so desirable to direct mail audiences, that we have helped financial institutions like yours boost response rates by up to 30%.
Despite the appeal of the material, our products are not commonly used by the financial services sector for direct mail. For credit card acquisition specialists, strategists, loyalty and direct mail leaders we offer a truly competitive product: an innovative envelope material that is premium, yet uncommon enough to drive target engagement and is backed by the data that helps deliver results when they’re needed most.