Banks ramp up direct marketing as financial markets sink

Mintel Comperemedia sees direct mail used to reassure customers, encourage loyaltyDwindling budgets haven’t stopped banks from reaching out to clients through direct mail. During the third quarter of 2008, Mintel Comperemedia reports that the estimated number of banking direct mail offers sent to current customers rose 42% from Q2.Banks sent approximately 53 million offers to their customers during Q3 2008, almost twice the number seen in Q3 2007 (29 million). This sharp increase in retention direct mail comes on the heels of the worst financial crisis in years. According to Diana Sheehan, Director of Research for Mintel Comperemedia, banks are relying heavily on direct marketing to communicate with and reassure their customers.