Success in today’s economy definitely isn’t
black and white. In fact, adding a bit of “green”
can help financial services companies stay current, even as the market
shakes and business plans stumble.
Mintel Comperemedia, a service that tracks direct marketing and print
advertising, observes more financial services companies going green in
recent months. Because green marketing and eco-business tactics can save
companies money and help them attract new customers, Mintel expert Susan
Menke thinks this is a wise strategy.
“Going green can help financial services
companies cut overhead costs, attract environmentally aware consumers
and stay ahead of the competition,” explains
Menke, senior financial services analyst at Mintel. “Although
the economic crisis is the story of the moment, it’s
important for companies to look beyond market ups and downs to the
long-term trends of tomorrow. We expect ‘green
living’ to affect businesses for years to
come.”
Menke sees numerous companies going green in direct mail and email
advertising. Paperless statements and online bill pay—which
simultaneously eliminate waste and save on printing and mailing costs—are
extremely popular. Some companies, including Citibank
and Progressive Direct, plant a
tree for every customer who stops paper statements. Others, like Chase
and HSBC, reward customers with
green prizes and sweepstakes entries for paying bills online.
Other companies promote “green”
to set their products and services apart in today’s
market. “Last December, nearly a third of our
survey respondents said ethical corporate behavior impacts their
shopping and investing decisions,” notes
Menke. “With economic woes top of mind, many
Americans are now looking for tangible, real-life benefits from
companies who go green.”
Mintel Comperemedia recently tracked direct mail from PNC
Bank that offers a home equity line of credit specifically
designed for borrowers making green home improvements. Similarly, the US
Federal Credit Union promotes auto loans with lower rates for
customers buying vehicles that get more miles to the gallon.
“Incorporating green elements across business
and marketing plans can help financial services companies stand out
today while setting a course for growth tomorrow,”
recommends Menke.
About Mintel
Mintel is a leading global supplier of consumer, product and media
intelligence. For more than 35 years, Mintel has provided insight into
key worldwide trends, offering unique data that directly impacts client
success. Mintel Comperemedia is a competitive media monitoring service
that analyzes direct mail, email and print advertising trends. With
offices in Chicago, London, Belfast, Sydney, Shanghai and Tokyo, Mintel
has forged a unique reputation as a world-renowned business brand. For
more information, please visit www.mintel.com.
Mintel International
Joanna Peot
312-628-7946
jpeot@mintel.com