Direct Mail: A Reliable and Productive Acquisition Channel for Credit Card Issuers : Market Research Report

Direct Mail: A Reliable and Productive Acquisition Channel for Credit Card Issuers

Published by: TowerGroup

Published: Jun. 18, 2007 - 9 Pages

TowerGroup Take-Aways
Report Coverage
The Challenge Facing Issuers
Non-Prescreen Acquisition Strategy Through the Late 1970s
Evolution of the Mail Process
New Competitors Influence Market Offers: Exhibit 1 Direct-Mail Credit Card Solicitations and Response Rates (1992-2006)
New Product Designs: Exhibit 2 General Purpose Cards: Rewards vs. Nonrewards Products (2001-06)
The Payback
Adaptation of Direct Mail to Market Changes
Industry Leaders Among the Issuers: Exhibit 3 Leveraging Multiple Channels to Increase Response Rates to Credit Card Solicitations
American Express
Capital One
Chase: Exhibit 4 Example of Reduction in Cost per Account by Processing Direct-Mail Solicitations Online (2004-06)
Summary

Abstract

US credit card issuers today find it challenging to acquire new credit card customers economically. This TowerGroup Research Note examines the effectiveness of direct mail in the acquisition of credit card customers. The discussion illustrates how the direct-mail process has evolved and how issuers use it in conjunction with other marketing channels, including inbound and outbound telemarketing and the Internet.

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Direct Mail: A Reliable and Productive Acquisition Channel for Credit Card Issuers

Table of Contents

Abstract