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Case Studies

Financial Services

Converting Self-Mailer to #10 and Adding Proven Best Practices Increases Sales Rate Nearly 90%

Opportunity

A global financial institution turned to IWCO to increase response and conversion of their self-mailer control package.

THE GOAL:

Improve performance, increase card issuance, and improve ROMI.

Solution

IWCO redesigned the control self-mailer package into a #10 envelope with letter and added performance improvement direct mail best practices.
This approach included:
  • Utilizing a format that has proven to respond much higher than a self-mailer in the financial services vertical
  • Adding personalization
  • Highlighting key benefits for easier skimming
  • Taking advantage of the additional real estate that a letter package offers to further highlight key offers and benefits and strengthen the CTA

Results

The strategy developed and implemented by IWCO, together with the updated creative format, proved instrumental in dramatically increasing the response rates and sales rates from both new and existing customers.

IMPACT

For the past seven years, our client’s AEP and Age-In results improved by over 25% without increasing mail volume.
  • 122.6% increased response rate, plus a 62% lower cost per piece
  • 87.8% increased sales rate, plus a 33% decrease in cost per sale

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