How Variable Data Print Strategies Drive Banking Relationships

How Variable Data Print Strategies Drive Banking Relationships

Variable data printing (VDP) is a key technique in designing a successful direct mail marketing plan. By using VDP to target those people your bank marketing strategies have identified, you have the ability to personalize your campaigns to speak to individual customers or businesses. We can help you plan the creation of custom direct mail letters and envelopes that will serve as the basis of your next bank marketing success story.

VDP is a print marketing technique that lets you produce any quantity of high-quality advertising pieces while still personalizing them for every customer (commonly known as one-to-one marketing). We can handle all of the VDP needs for your bank once we receive the data about your customers and your goals. Whether your direct mail campaign will target new consumers or get your current customers to spend more, you can make your goals a reality as well as expand them. Variable data printing creates a unique relationship between you and your current or future customers. The decision to use VDP will set you apart from the crowd and lead to big successes! Many businesses record a big percentage of lift in their revenue just by personalizing their customer’s journey. Customers are more likely to avoid a business after an impersonal experience. We all know millennials are craving a personal experience and relationship with brands which means this audience loves the VDP touch.

Benefits of Variable Data Printing for Banks

Variable data printing works for your bank by applying data about your target to a direct mail campaign and using it to create personalized pieces. Some common VDP uses are direct mail addressing and the personalization of rate, market, and terms driven communications from your financial institution. Send your clients information about market mortgage rates, current customer rates and the latest offers from your bank! The automation of this process helps to manage costs and keep a nice flow of communications going with your audience.

  • Use Data to Win Customers
    You’ve got information about your customers so use it to your advantage You can create targeted campaigns around the marketing verticals and persona of your brand. Even data as simple as current customer account types can be enough to build a beneficial VDP campaign for your bank. We can be as creative as necessary to create a campaign tailored to your needs and built within your data frame.
  • Move from Transactional to Personal Relationship
    You can create hundreds or thousands of variations of a single direct mail piece. Just remember, there is more to personalization than simply the name of a customer. Be sure and use any relevant personal information when planning a campaign. Using VDP, banks move relationships with customers from purely a transactional one to a personal one.  This will increase customer retention and affect a bank’s bottom line directly!
  • Integrate with Automation
    You can use VDP, along with marketing automation, to speak to the right customers about the right products at the right time.
  • Achieve Higher Open Rates
    The use of VDP creates the kind of customizations that lead to higher open rates. Being personal gives them a reason to interact with your bank or credit union and this develops a personal connection with their banker. Overall, personalized marketing results in higher response rates. A 2016 InfoTrends study, which was noted in Target Marketing, found that people who received a direct mail piece with some personalization were 29.9% “much more likely” to open it and read it.
  • Enjoy Increased Response Rates and ROI
    Enjoy better direct mail marketing metrics when you personalize with VDP. You’ll enjoy the increased response rate and higher ROI that typically follows personalized VDP marketing.
  • Experience Fast Turnaround
    VDP campaigns can be managed, customized and personalized without sacrificing time. The personalization of messages for each recipient will not cause a production delay.

Give us a call today to improve your print marketing strategies with variable data printing.

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