Bouncing Mail

Background

In big cities like Mumbai, people who rent apartments tend to keep moving every few years, to cope with steep rent hikes. The communication specifically spoke to this audience to offer them the stability of owning their own home through a Union Bank loan.

Idea

Long time customers of Union Bank, who had submitted several ‘change of address’ notifications, were identified in the database and sent mailers that traced the path they had taken from one residence to another.

Addressed in the first place to the customer’s oldest residence, the mailer appeared to have been redirected from one house to the next, all the way to their current home. Inside the original envelope was a message urging them to consider getting their own home.

Results

The activity was carried out in 3 major cities. Over 65% of the customers who received this personalised mailing called up the helpline or visited a branch over the next 6 weeks. In addition, the helpline received 38% more inquiries about home loans during the campaign period.

Our Thoughts

Data is the new oil, that’s what they say. In my experience, that’s what clients are buying from agencies these days. Numbers which reveal interesting behaviours among their customers which they had never seen before.

Often, they think that information is enough in itself. But it isn’t. Insight needs applied intelligence if there’s to be any effect on the bottom line and in my opinion that’s what we’ve got here. Intelligence.

Many banks would simply have written a dreary letter remarking that they have noticed Mr. Sample has moved homes five time in the last seven years. Perhaps he would like a mortgage?

These highly personalized mailings worked so successfully because there was an idea behind them.