There is a strong perception that people don’t open or read their statements and other transactional mail. So, when we discovered a study from InfoTrends that claimed 95% of people open and read their statements*, we were skeptical.
We decided we’d take our own look at those numbers and validate them with a survey of our own. We duplicated the question and sent it out broadly using LinkedIn and Facebook, encouraging people to send the survey to anyone they wished.
We were quite surprised by the result. In our check of the question, 7.8% reported discarding statements compared to 4.7% with InfoTrends in 2008. While saying 95% of people read their statements probably overstates the truth, a significant percentage of people (perhaps 85-90%) open and read statements received in the mail.
What does this mean for marketing?
For marketers, this supports the idea that TransPromo marketing (adding marketing messages to statements) continues to be an efficient and cost-effective way to reach current customers or account holders. But there’s more to know.
We also asked our responders about age and gender. Because our number of responders was relatively low, these results should be considered directional – not definitive. That said, you may want to test against age groups. Here’s why:
- Ages 25-35: 41.4% of respondents reported discarding their statements without opening or reading them.
- Ages 36-45: only 19.1% of respondents reported discarding their statements without opening or reading them.
- Ages 46+: no respondents reported discarding their statements without opening or reading them.
- 48.8% of our total respondents receive both paper and electronic statements
Whether they are delivered electronically or by mail, statements provide a unique opportunity where your customers will pay attention – at least for a few minutes. And for those who receive both, you can reinforce your marketing messages by placing them in both paper and electronic versions.
* InfoTrends (www.infortrends.com): Trans Meets Promo… Is It More than Market Hype?, August 2008