Study Finds Consumers Pay More Attention to Statements Received in the Mail than on the Web
LANHAM, Md., July 25, 2007 - According to research released today by Group 1 Software, Inc., a Pitney Bowes Company (NYSE:PBI), Americans spend twice as much time reviewing printed bank and credit card statements compared to the 3.5 minutes spent examining their web equivalents. The study also found that consumers pay more attention to direct mail than to “cold” prospecting emails.
Americans spend an average of approximately 3.5 minutes looking at the documents they receive from businesses and the government, found the survey. Meanwhile, residents of large European countries devote even more time to these materials, at just over four minutes. The documents that receive the most attention in the U.S. include bank/credit card statements and mobile phone bills, while government and tax correspondence command less interest.
“These findings suggest that organizations who put targeted cross-selling messages on physical statements may achieve higher return on investment,” said Rob Pipe, vice president, marketing and strategy for Group 1 Software.
“Banks, credit card issuers, mobile telecoms companies and utilities should weigh the benefits of migrating customers to web self-service compared to the additional income that can be generated through advertising on printed bills and statements,” continued Pipe.
Additional key findings of the study include:
Copies of the study can be obtained electronically by visiting http://www.g1.com/Resources/WP/Are-we-paying-attention/.
Over 1,000 consumers were interviewed via web survey in each of the UK, Germany, France, Italy, Spain and the United States, during May/June 2007. Respondents were asked to estimate the typical amount of time that they spent looking at a range of documents, from their monthly bank statement to the direct mail they received.
About Group 1 Software
Group 1 Software (www.g1.com) turns data into results, providing innovative software solutions that enable our clients to better understand and connect with their millions of customers, prospects, and partners. Group 1 Software helps over 3,000 organizations maximize the value of customer data to improve profitability, increase effectiveness, and strengthen customer relationships, through consolidating, cleansing and enriching corporate data, and generating personalized business documents for multi-channel delivery, customer care and efficient business processing. Our comprehensive Customer Communications Management (CCM) solutions span from database to delivery, adding value to every aspect of communication and allowing clients to integrate intelligence throughout their mailstream. As part of Pitney Bowes (NYSE: PBI), a $5.6 billion company, Group 1 Software’s solutions are utilized by leaders in the insurance, financial services/banking, GIS/mapping, government, mail services, retail, telecommunications, utility, and other industries, including Entergy, ING, L.L. Bean, MapQuest, Microsoft, Safeco Insurance, Wal-Mart and Wells Fargo.
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