Consumer Payment Card News

Irrelevant Mail

A new survey has found that 88% of financial consumers claim to receive regular communications for products and services that are not directly relevant to them and their circumstances and 58% claim to regularly receive communications selling them products and services they already have with that company. The research also discovered that 64% of financial consumers claim they are more likely to stop using companies that regularly send them inaccurate or irrelevant communications material and 65% of financial consumers don’t feel like they are being treated as an individual with regard to the communications they receive. StreamServe says the results show that firms are missing a tremendous opportunity to enhance customer value by failing to communicate with their clients in a relevant, personal manner. Survey results also indicate that the majority of financial services companies fail to effectively communicate and market products and services to existing customers, causing these organizations to miss an opportunity to increase revenue and improve customer service. Seventy-four percent of respondents indicate they would be more likely to buy products and services from financial companies if the offers were highly personalized, relevant and treated them as individuals.

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