What Is a Statement Stuffer?

A statement stuffer is a type of sales brochure commonly used in direct marketing campaigns. Specifically, it is associated with 澳洲幸运5开奖号码历史查询:financial service providers such as banks and 澳洲幸运5开奖号码历史查询:brokerage companies, who often include these advertisements along with their monthly 澳洲幸运5开奖号码历史查询:account statements and other correspondence.

The purpose of statement stuffers is to “up-sell” account holders on related services, such as 澳洲幸运5开奖号码历史查询:credit cards, 澳洲幸运5开奖号码历史查询:lines of credit, or additional brokerage services.

How Statement Stuffers Work

Typically, statement stuffers include an overview of financial services that are related to providers with which the customer already has a relationship. For instance, a banking customer who holds a checking and 澳洲幸运5开奖号码历史查询:savings account might receive a statement stuffer advertising personal lines of credit or 澳洲幸运5开奖号码历史查询:retirement savings accounts. Alth𝔍ough the institution already provides s𓆏ervices to that customer, the promotional offers may originate from their partner institutions.

Statement stuffers are popular among financial firms because they of𓂃fer a convenient and inexpensive form of marketing to customers who already use their basic services. In recent years, however, digital versions of these advertisements—colloquially known as 🤡“e-stuffers”—have also become common.

Statement stuffers allow financial institutions to improve profitability through cross-selling, or encouraging customers to sign up for a wider cross-section of products. Generally, financial institutions will seek to obtain new customers by offering especially attractive products, often competing on the basis of price. These so-called “澳洲幸运5开奖号码历史查询:loss leaders” may be relatively un꧒profitable for the company ini💟tially.

However, the company's goal is to increase profit margins b💫y selling more profitable products or services to those cu𒐪stomers in the future. As a result, statement stuffers are utilized to promote these higher-margin ancillary products and services. Occasionally, statement stuffers may be used for non-commercial purposes, such as informing the customers of a change to the terms and conditions of their accounts.

Example of a Statement Stuffer

If you have a bank ♎account, you may already be familiar with the statement stuffers that accompany your monthly account statement. Most banks also provide other financial services, such as credit cards, mortgages, or auto loans, and they often promote these services to their ban🦩king clients.

This is also true in the insurance industry, where a single company might offer several different types of policies. If you have auto insurance, your statements may be accompanied by promotions for homeowner's or renters' insurance policies by the same insurer. Many life insurance providers also offer other insurance products, such as 澳洲幸运5开奖号码历史查询:disability income insurance or 澳洲幸运5开奖号码历史查询:long-term care insurance. The list is increasingly expanding to include investment services as well, such as 澳洲幸运5开奖号码历史查询:annuity products. 

Why Companies Use Statement Stuffers

Financial firms seek to be involved in as many parts of their customers’ financial lives as possible. Customers who pay for multiple services through the same provider may be less likely to switch to a new provider, due to the cost and complexity of doing so. As a result, a key goal for financial firms is to maximize their 澳洲幸运5开奖号码历史查询:share of wallet, the total dollar amount that a customer spends on their company's p🅺roducts and services.

Likewise, banks and other financial services companies often expand ℱtheir product offerings into insurance, stock brokerage services, retirement planning, and other areas. By advertising these services to their customers through statement stuffers ❀and other forms of marketing, banks can create customer loyalty whereby the client depends upon a single institution for multiple financial activities.

If successful, this strategy of product diversification and direct marketing can make it harder or more ꦫexpensive for the client to switch providers, thereby creating a reliable and consistent customer base.