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Marketing Strategies

for the

Financial Services

Industry

2007 Edition

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Marketing Strategies for the Financial Services Industry, 2007 Edition vwww.the-dma.org/research

TABLE OF

CONTENTS

Foreword ......................................................................................................................iSpecial Appreciation to .........................................................................................ii

A Message from Our Sponsor .................................................................................ii i How To Read this Report ..........................................................................................1Execut ive Summary ...................................................................................................4Financ ial Serv ices Profi le .......................................................................................11

Number of Years Company Has Been in Business ................................................................12Number of Employees.............................................................................................................13Companys Annual Revenue...................................................................................................14Breakdown of Financial Products and Services......................................................................15Primary Channel Use ..............................................................................................................16Primary Channel Use by Type of Financial Service or Product ..............................................17Secondary Channel Use .........................................................................................................18Secondary Channel Use by Type of Financial Service or Product .........................................19Sales Channels Used..............................................................................................................20Sales Channels Used by Type of Financial Service or Product..............................................21Percentage of Overall Revenue Generated from Direct Marketing ........................................22Percentage of Overall Revenue Generated from Direct Marketing by Type of FinancialService or Product...................................................................................................................23Areas Outsourced ...................................................................................................................24Areas Outsourced by Type of Financial Service or Product ...................................................25Top Ten Industries by DM Advertising Expenditures..............................................................26Top Ten Industries by DM Sales Volume................................................................................26Top Ten Industries by DM Sales Growth Forecast .................................................................27Top Ten Industries by Total DM Employment.........................................................................27

Direct Mail

Economic OverviewDirect Mail Advertising Expenditures and Direct-MailDriven Sales by Type of FinancialService or Product...................................................................................................................30

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vi Marketing Strategies for the Financial Services Industry, 2007 Edition www.the-dma.org/research

Direct-MailDriven Employment by Type of Financial Service or Product .............................32Response Rates

Direct Order by Campaign Objective and Medium..................................................................34Lead Generation by Campaign Objective and Medium ..........................................................35

Overall Direct Mail PracticesNumber of Promotional Pieces Sent Via Direct Mail ...............................................................36Postal Mail Allocations Among Customers vs. Prospects.......................................................37Changes in Postal Mail Quantities from 2005 to 2006............................................................38Factors Influencing Postal Mail Quantity.................................................................................39Anticipated Changes in Mail Quantity from 2006 to 2007.......................................................40

FrequencyFrequency of Promotional Mail Sent Via Postal Mail ..............................................................41Changes in Postal Mail Frequency 2005 to 2006 ...................................................................42Factors Influencing Mailing Frequency ...................................................................................43Anticipated Changes in Mail Frequency 2006 to 2007 ...........................................................44

Direct Mail CreativeOverall Percentage of Use by Mail Type Within Financial Services Population .....................45Average Number of Pieces Mailed..........................................................................................46Average Yearly Mailing Volume ..............................................................................................47Peak Months for Direct Mailing ...............................................................................................48Stand-Alone vs. Multichannel..................................................................................................49Overall Channel Use ...............................................................................................................50Overall Reliance ......................................................................................................................51

Direct Mail TestingMost Frequently Tested Element ............................................................................................52Percentage of Respondents Who Test Each Creative Element .............................................53Testing Strategies Companies Engage In...............................................................................54

E-mailEconomic Overview

Online Advertising Expenditures and Online-Driven Sales by Type of Financial Service orProduct ....................................................................................................................................56Online-Driven Employment by Type of Financial Service or Product .....................................57

Response RatesDirect Order by Campaign Objective and Medium..................................................................58

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Marketing Strategies for the Financial Services Industry, 2007 Edition viiwww.the-dma.org/research

Lead Generation by Campaign Objective and Medium ..........................................................59Overall E-mail Practices

Number of Promotional E-mail Recipients in 2006 .................................................................60Promotional E-mail Quantity Distribution ................................................................................61Changes in E-mail Quantity from 2005 to 2006 ......................................................................62Factors Influencing E-mailing Quantity ...................................................................................63Anticipated Changes in E-mail Quantity 2006 to 2007 ...........................................................64

FrequencyFrequency of Promotional Mail Sent Via E-mail......................................................................65Changes in E-mail Frequency from 2005 to 2006...................................................................66Factors Influencing E-mailing Frequency................................................................................67Anticipated Changes in E-mail Frequency for 2007................................................................68

ListSelf-Identified Level of Expertise.............................................................................................70Use of List and Data Sources..................................................................................................71Source for Rented Lists...........................................................................................................72Marketing Promotions Allocations Among Customers vs. Prospects .....................................73Data Enhancement House vs. Outside Lists........................................................................74Data Enhancements Performed..............................................................................................75Changes in List Testing from 2005 to 2006 ............................................................................76Anticipated Changes in List Testing from 2006 to 2007 .........................................................77List Techniques Used in 2006 vs. 2007 ..................................................................................78Effectiveness Rating of List Techniques .................................................................................79List Rental Practices Used ......................................................................................................80Rating for List Issue Concerns ................................................................................................81

Other MediaEconomic Overview

Advertising Expenditures and Sales Driven by Other Media by Type of Financial Service orProduct ....................................................................................................................................84Employment Driven by Other Media by Type of Financial Service or Product .......................86

Response RatesDirect Order by Campaign Objective and Medium..................................................................88Lead Generation by Campaign Objective and Medium ..........................................................89