US financial services institutions benefiting from direct marketing

Direct marketing is proving increasingly beneficial for financial services institutions in the US.

That is according to a new report from the Direct Marketing Association (DMA), entitled Direct Marketing Facts and Figures in the Financial Services Industry.

Amongst other findings, it was revealed that US banks and credit institutions spent $13.4 billion on direct marketing advertising in 2007, generating $178.8 billion in sales.

The primary direct marketing channel used by financial services was non-catalogue direct mail, which was employed by 41.8 per cent of marketers.

Anna Chernis, DMA´s senior research manager and author of the report, commented: "Financial services institutions represent a very significant component of America´s economic infrastructure.

"In turn, those institutions are relying more and more on multichannel direct marketing to sell services and products to current and prospective customers. DMA wanted to delve deep into this trend.

"What resulted is this new ´must-have´ report for any financial service professional interested or involved in multichannel direct marketing."

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