At a Glance
Financial institutions send a variety of notices—some required, some not—to keep customers informed about their accounts. Prior to working with APEX, a large Wisconsin bank processed and printed all of their customer statements and notices internally. This approach was costly, and they were missing opportunities to maximize customer communication. APEX delivered a print and mail solution that reduced overall costs by 33% and expanded their marketing capabilities.
The Challenge: Rising Paper and Postage Costs
This APEX client prints and mails more than 200,000 notices of varying types to their customers each month. With paper and postage costs continuing to increase , they wanted to better manage mailing expenses without affecting document integrity or quality of customer service.
The APEX Solution
By working with the United States Postal Service (USPS), APEX designed a mail piece–called a double postcard by the USPS—that would qualify for a lower postage rate. The innovative construction allowed the Client share the same amount of content with a 33% reduction in postage cost.
Once implemented, the Client realized immediate cost savings. Since then, APEX has adapted the solution to 13 different types of notices for the Client, resulting in postage cost reductions of about $30,000 each month. This translates to more than $350,000 annually in bottom line savings.
The new notice format also provides highly visible marketing space compared to the Client’s traditional mailers. This is an especially important benefit because documentation shows that customers pay more attention to marketing messages in official statements and notices than in separate marketing-specific mailers.
Results
APEX helped the financial institution reduce costs and maintain a high level of service.
- They substantially reduced mailing costs by more than $350,000.
- APEX created advantageous marketing space on the double postcard for promoting new products and services.
APEX prints more than 2 million documents per month for this large financial institution.
Industry
Financial
Challenge
Decrease costs while maintaining a positive customer experience.
Results
- Lowered postage costs by 33%
- Saved $30,000 each month
- Increased bottom line by $350,000 annually
- Created new marketing opportunities
