News Article Published:
Wednesday, 11 July 2007
Category:
Financial Services
Successful advertising through placing promotional material in transactional documents such as bank statements can have a positive effect in marketing both the product advertised, as well as the bank being seen as in touch with what is relevant to its customers' needs.
Effective 'transpromo', as it is known for short, occurs when banks make a real marketing effort to focus on what their customer wants.
While consumers are put off by receiving tons of irrelevant advertising, it is vital that banks do their research in order to increase their estimation as trustworthy and knowledgeable in their customers' eyes, thereby promoting a long-term relationship.
If a bank can manage to create a marketing experience, which is personal and relevant, it is likely to be able to sell the customer more financial products as a result.
A credit card statement that promoted a relevant special offer is a good example of transpromo as a customer is most likely to open and read that kind of statement each month. Statements need customers' detailed attention and are often perused more than once.
Published results have shown that transpromo is of real value when handled correctly and with a good marketing eye. If banks make an effort to identify key spending patterns of individual customers then half the battle of providing relevant promotions is won.
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