Banking and Loans
Usually relatively staid in their mail efforts, a number of banking and loan mailers seem to be branching out lately, leaning on unusual formats and tactics to drive their messages home.
Take, for example, premium use. Premiums within the loan sector are pretty scarce, and most of the ones the Archive does see are monetary, such as a cash refund at closing or a best price guarantee. HomeLoanCenter.com and Union Fidelity Mortgage, however, both incentivized their May offers with travel-related gifts. HomeLoanCenter.com mailed a 5-1/2” x 8-1/2” postcard offering 1,750 Northwest Airlines WorldPerks miles for every $10,000 financed in a new purchase, refinance or home equity loan (Archive code #535-699116-0605B). Union Fidelity’s 9” x 12” envelope mailer, on the other hand, offers a three-day/two-night vacation for two to Las Vegas, Orlando, San Diego, San Francisco or Reno with the closing of a refinanced loan. This package uses an old-school direct mail tactic for this premium: A buckslip voucher highlighting the premium asks the respondent to sign and submit the voucher with the application in order to receive the premium (Archive code #535-663340-0605).
On the banking front, CompassBank improved on the value of its regular premium offerings (which have included smoothie makers and TV/lanterns recently) by partnering with XM Satellite Radio to offer an XM Delphi Roady XT receiver. Fine print on the 6” x 11” postcard informs prospects that they will be required to pay an activation fee and for their first month of XM service when they open an account in order to qualify for the receiver (Archive code #536-672133-0605).
Mailings from Countrywide Home Loans and Wells Fargo speak to a popular trend among loan mailers: using current events, such as climbing interest rates, to create efforts with a timely message. Countrywide mailed a 5-1/2” x 9” envelope effort with the timely teaser, “Interest rates may quickly be on the rise! NOW may be the best time to refinance!” The outer envelope gives this claim a visual punch with a graph of interest rates from 2003 to 2006, with the 2006 arrow making an upward motion (Archive code #535-638013-0605). A few months ago, Wells Fargo mailed a similarly themed envelope effort, and in May, it mailed a 4-1/4” x 6” postcard to follow up on that earlier message. The front of the postcard shows a man reading a newspaper with the headline “Fed Boosts Key Interest Rate for the 15th Consecutive Time …” The addressing side then references the message of the earlier effort—he should take advantage of these low rates with a home equity loan—and reminds him of the offer’s upcoming expiration date (Archive code #535-174845-0605A).