Smaller Financial Services Companies Use Email Marketing to Gain Competitive Ground

Larger Companies Focus Email Marketing on Cross-Selling and Customer Communication as Small Competitors Target New CustomersMany of the larger financial services companies are experimenting with a blend of direct mail and email marketing to communicate with their current customer base and merchandise their new products and services. In contrast, many smaller financial services companies have turned to email in order to attract new customers with acquisition offers. According to Mintel Comperemedia, a competitive intelligence service that analyzes direct mail, email marketing, and print media, several smaller companies are emerging as more frequently tracked entities in the email marketing arena. As this email sector evolves, companies such as Metabank in the banking sector and First Premier Bank in the credit card sector have been identified as key players, flooding consumer mailboxes with acquisition offers and promotions. However, on the direct mail front these companies are distributing a significantly lower share of offers than their larger competitors.