Professional & Financial / Financial, Insurance & Banking Services
Bank marketing built on the acquisition offer and the referral mailer
Bank marketing from MBI is direct mail and print built around two campaigns: a checking-account acquisition offer, and a mailer asking current customers to refer family or friends.
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What does bank marketing from MBI include?
The short answer
Bank marketing at MBI is two campaigns carried by mail and print: a DDA/checking-account acquisition offer, and a customer-referral direct-mail campaign that asks current customers to refer family or friends. MBI prints both mailers and delivers them, so a bank's marketing lead briefs one team rather than a printer and a mail house.
The two campaigns. The brief's two campaign concepts for this vertical are a DDA/checking-account acquisition offer and a customer-referral direct-mail campaign.
What the case describes. A banking campaign case in this vertical's research describes DDA acquisition and mail asking customers to refer family or friends.
Two campaigns
Postcard · Direct Mail
Postcard · Direct Mail
The offer
What does a checking account acquisition campaign offer?
The short answer
The first of a bank's two campaigns is a DDA/checking-account acquisition offer, carried in the mail. What it may say sits inside Regulation DD, which requires an advertisement not to be misleading or inaccurate or misrepresent a depository institution's deposit contract, and a rate of return in it to be stated as an 'annual percentage yield' using that term.
The two pieces. Direct-mail acquisition and referral mailers.
Regulation DD § 1030.8(a) provides that an advertisement shall not: (1) Be misleading or inaccurate or misrepresent a depository institution's deposit contract; or (2) Refer to or describe an account as 'free' or 'no cost' (or contain a similar term) if any maintenance or activity fee may be imposed on the account. § 1030.8(b) provides that if an advertisement states a rate of return, it shall state the rate as an 'annual percentage yield' using that term.
CFPB, Regulation DD, 12 CFR §1030.8(a) and (b)
What it may say
The referral mailer
Who receives the bank customer referral mailer?
The short answer
The bank's current customers. The second of a bank's two campaigns is a customer-referral direct-mail campaign: mail asking customers to refer family or friends. Acquisition and referral mailers are the two pieces printed for a bank, and MBI produces the referral piece and delivers it.
USPS Domestic Mail Manual 602.5 provides that each address, except for mail bearing an alternative address format, in a mailing at commercial First-Class Mail presorted or automation prices or USPS Marketing Mail prices is subject to the Move Update standard, and that each address and associated addressee used on the mailpieces in a mailing must be updated within 95 days before the mailing date with one of the USPS-approved methods, which include Address Change Service (ACS) and the National Change of Address Linkage System (NCOALink).
USPS Domestic Mail Manual 602.5
direct mail mailing lists financial services marketing agency
Kit · Printing
Before the drop
What does bank direct mail marketing have to get right before a drop?
The short answer
Three checks come first. Regulation DD bars calling an account 'free' or 'no cost' if any maintenance or activity fee may be imposed; 12 CFR 328.6 requires the official advertising statement, such as 'Member FDIC', on an ad for a deposit product; where USPS Move Update applies, each address must be updated within 95 days before the mailing date.
The FDIC's Consumer Compliance Examination Manual section on Truth in Savings states that an institution may not advertise in a way that is misleading or inaccurate or misrepresents its deposit contract, and that when advertising a bonus an institution must clearly and conspicuously disclose the 'annual percentage yield' using that term, the time required to obtain the bonus, the minimum balance needed to obtain it, the minimum opening deposit if it is greater than the bonus minimum balance requirement, and when the bonus will be provided.
FDIC, Consumer Compliance Examination Manual, VI-3 Truth in Savings
Checklist · Printing
Printing
How do a bank's two mailers get printed and delivered?
The short answer
The acquisition mailer and the referral mailer are the two pieces behind a bank's campaign. MBI's printing is commercial and variable-data printing, in-house, and MBI plans, produces and delivers direct mail and print campaigns from a single in-house team in DeLand, Florida — data, print and delivery in-house since 1989.
In house. Printing at MBI is commercial and variable-data printing, in-house.
One team. MBI plans, produces, and delivers direct mail and print campaigns from a single in-house team in DeLand, Florida, and data, print, and delivery have been in-house since 1989.
One-sheet · Printing
Questions
Questions a bank asks before it mails
Searched for bank marketing agency, community bank marketing or community bank marketing agency? Same work, same answers.
What can a bank's acquisition mailer say about a checking account?
Only what the deposit contract bears out. Regulation DD provides that an advertisement shall not be misleading or inaccurate or misrepresent a depository institution's deposit contract, or refer to or describe an account as 'free' or 'no cost' (or contain a similar term) if any maintenance or activity fee may be imposed on the account.
How must a bank state a rate of return on a mailer?
A bank's acquisition mailer states it as an annual percentage yield, in those words. Regulation DD provides that if an advertisement states a rate of return, it shall state the rate as an 'annual percentage yield' using that term.
What must a bank's mailer disclose if it offers a reward for opening an account?
Five disclosures, where they apply to a bank's mailer. The FDIC's examination manual records that a bonus stated in an advertisement must be accompanied, clearly and conspicuously, by the annual percentage yield using that term, the time requirement and minimum balance to obtain the bonus, the minimum opening deposit where it is greater, and when the bonus will be provided.
What is the second campaign a bank mails?
A customer-referral direct-mail campaign: mail that asks a bank's current customers to refer family or friends. It is the second of a bank's two campaigns; the first is the DDA/checking-account acquisition offer. Both are print formats MBI produces and delivers.
How does a bank's mailing list stay current when a customer moves?
A bank's customer file moves as its customers do. USPS Move Update requires each address on the mailpieces in a mailing at commercial First-Class Mail presorted or automation prices, or USPS Marketing Mail prices, to be updated within 95 days before the mailing date by an approved method such as NCOALink; mail bearing an alternative address format is excepted.
Who prints a bank's acquisition mailer, and who mails it?
MBI does both. Acquisition and referral mailers are the print formats behind a bank's campaign, and MBI's printing is commercial and variable-data printing, in-house. Data, print and delivery have been in-house since 1989, so one team answers for the print run and the delivery instead of a bank coordinating vendors.
How is a bank mailing quoted?
Producing a bank's acquisition or referral mailer and mailing it are the two costs behind every quote, and seven decisions move those two numbers: Quantity; Format and finished size; Paper and weight; Color, coating, and finishing; Data and personalization; Postage, mail class, and sortation; and Entry and drop strategy. /capabilities/direct-mail/direct-mail-cost walks a bank through all seven.
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Start a bank campaign.
Say which of the two campaigns it is, and what the piece has to say. It goes to a real member of the MBI team, not a queue.