Cheltenham & Gloucester picked up another award to add to its trophy cabinet at the recent Financial Services Forum Awards for Marketing Effectiveness.
C&G’s fixed-rate bond maturity mailing won its category of ‘Most Effective Direct Marketing Campaign’ ahead of some fierce competition.
In September 2004 C&G overhauled its fixed-rate bond maturity mailing with the aim of delivering a major change in its customer retention rate and increasing customer balance retention to a minimum of 60%.
The new mailing, which included enhancements to the re-investment process for customers and in turn improved the customer experience lifted retention levels more than threefold most months – exceeding the goal set by a considerable margin.
Alan Mochrie, fixed-rate bond product manager C&G Savings, says: ” We were delighted to collect this award, recognising a fantastic piece of work from a great team. The maturity mailing is a tremendous example that direct mailings do not have to be eye-catching to be effective, a simple customer proposition and a competitive product is more than enough to retain our loyal customers.”