Think Direct Mail Marketing Is Dead? Not For Millennials
Many financial marketers assume that Millennials don’t like, don’t open and don’t read direct mail pieces. Not true. The rise of digital channels has forced financial institutions to radically rethink their marketing strategies. While digital media have proven effective — no doubt — that doesn’t mean other traditional means […]
Some might find the response rate for Millennials particularly surprising, since they are by far the most digitally-savvy generation in history. According to another study fielded by Experian, nearly every Millennial (ages18-35) owns a smartphone, and 43% say that they now access the internet more through their phone than a computer, compared with just 20% of adults ages 35 and older. However, despite their hyper-wired digital connectedness, Millennials as a group report that the last time they responded to direct mail campaign was within 2.4 months. That’s less than the average response time for all respondents. Similarly, Millennials open the direct mail they receive at the same high rate of 66% as recipients overall.