With the cost to acquire deposits increasing and fewer traditional bank deposit dollars circulating among an increasingly large playing field of competitors vying for them, like retail establishments, investment firms,...
Until these questions are answered, it’s fruitless to start acquiring new account holders. In fact, it can be counterproductive. Acquiring anyone and everyone that walks through your doors will lead to higher attrition rates, more churn, and the costly cycle of gaining new accounts simply to replace the ones that are leaving.
While overall mail volume is on the decline (down nearly 30 percent since 2006 according USPS) due to such things as online bill pay and certainly more refined targeting and increased digital advertising, less crowded mailboxes mean it might be time to add direct mail into the mix alongside your digital marketing strategy.