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Do card ads still work? (credit card advertising)
Credit card advertising among banks has to some extent dried up and blown away. Many national card issuers, including BankAmerica, Chemical, Barnett, Crestar, First Chicago, U.S. Bancorp, and Amalgamated Bank of Chicago, have run no ads since late 1991 and have no plans to do so.
These issuers rely on direct mail to reach existing customers or targeted prospects. Mass media advertisements for credit cards have become less common as the market has become more saturated. The average American has 2.5 credit cards--you'd have to look under a rock to find someone who really needs an additional card. Ads are expensive compared to statement stuffers, and direct response gets people to do something, while ads may not.
Some card advertising still goes on, of course, particularly from Visa, MasterCard, and American Express. These ads try to build brand recognition, market share, and usage. Relative newcomers AT&T and Discover are still building their cardholder base with ads promoting their features.
A brief outburst of ads from bank card issuers earlier this year promoted newly lowered interest rates, or, in the case of Citibank, a new photo ID feature for its credit cards. Here's a quick look at a few of those campaigns.
Radio encounter. People's Bank,…
- Credit Card Direct Mail Volume Continues Decline into 2008.
- Press release article from: Business Wire April 3, 2008 700+ words
...year did not spark a rise in credit card direct mail, according to new research...number of mailings sent by credit card companies dropped another 3% (from December 2007). Credit card direct mail volume has fallen steadily...
- Mintel Comperemedia Reports Higher Credit Card Mail Volumes For First Half of...
- Press release article from: Business Wire September 7, 2006 700+ words
...Consumers have received more credit card direct mail for the first half of this...Citibank and HSBC leading in direct mail distribution. Chase and...have both shown decreased direct mail activity in the credit card sector by 7 and 8 percent...
- Credit Card Direct Mail Drops Again.
- Press release article from: Business Wire August 18, 2008 700+ words
...1.54 billion). Credit card direct mail sent to obtain new...Chase also maintained credit card mail volume, but...increasing banking direct mail (by 80% and 60%) * HSBC reduced credit card, banking and loan...
- Credit Card Direct Mail More Robust in Canada Than in the US, Finds Mintel...
- Press release article from: Business Wire April 23, 2009 700+ words
...intelligence, shows credit card issuers haven't reduced...the US. Last year, credit card issuers only reduced direct mail offers to prospective...distributed." *Based on credit card acquisition direct mail volume from January...
- IN WEAK ECONOMY, Q1 CREDIT CARD DIRECT MAIL DECREASES 14%.
- Newspaper article from: Cardline May 30, 2008 700+ words
...estimates total financial services direct mail volume at 4.2 billion pieces...in the first quarter of 2007. Credit card issuers cut back the most, as...America and HSBC reduced their direct mail by more than 15%, according to...
- Mintel's Comperemedia Reports a 10% Increase in Credit Card Direct Mail Over...
- Press release article from: Business Wire January 3, 2003 700+ words
...Jan. 3, 2002 Credit card direct mail has seen an increase...Comperemedia estimated credit card mail volume at 375...offer. 2002 Sees Credit Card Annual Fees Disappear...two types of media: direct mail and print advertising...
- DIRECT-MAIL RESPONSE RATE CLIMBS TO 1%.(credit card direct-mail...
- Newspaper article from: Cardline October 12, 2001 700+ words
The response rate to credit card direct-mail offers rose from an all- time low of 0.3% in June to...lofty height of 1.0% in July. A seasonal decline in direct-mail volume and a drop in mailbox clutter both contributed to...
- MINTEL's Comperemedia Reports Drop in Credit Card Direct Mail.
- Press release article from: Business Wire January 22, 2004 700+ words
...consumers received fewer credit card offers in 2003 compared...despite the fact that credit card estimated mail volume...biggest mail months for credit card issuers as consumers...two types of media: direct mail and print advertising...
- CARD SOLICITATIONS MAY HAVE HIT 4 BILLION IN 2002.(data for direct mail credit...
- Newspaper article from: Cardline January 10, 2003 700+ words
Credit card direct-mail acquisition letters totaled 375 million pieces in October, the second highest monthly total last year behind June's 379 million...
- From list fatigue to relationship marketing: the credit card industry is...
- Magazine article from: Direct Marketing Snyder, Daniel November 1, 1997 700+ words
...buys a coffee pot through direct mail and a credit card marketer, this bit of...their accounts current, credit card companies cannot make a...relationship with a new credit card customer through direct mail channels is an expensive...
Source: HighBeam Research, Do card ads still work? (credit card advertising)
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