The fintech marketing landscape is increasingly leveraging direct mail (DM) for customer acquisition, especially targeting the subprime audience with personal loan offers. Trends indicate that DM is effective in building trust, delivering high ROI, and engaging consumers, with omni-channel strategies outperforming single-channel approaches. Fintech brands are employing best practices in DM, including personalized messaging and digital response integration, to enhance engagement and brand credibility.

1. Fintech Marketing Update:
Increasing Use of Direct Mail
for Acquisition

2. Sampling of fintechs spotted* in mailboxes
2
*All 2022 direct mail examples featured are sourced from Mintel Comperemedia.

3. Fintech direct mail trends
As we gathered direct mail samples from fintech companies, we noted these trends:
 GREATER RELIANCE ON DM
Recent marketing by fintech brands shows increased use of direct mail, including
utilizing it to target the subprime audience
 INCREASED MARKETING OF PERSONAL LOANS
Fintech brands deployed personal loan campaigns targeting consumers who have
high credit card balances and debt consolidation needs
 FOCUS ON SUBPRIME CARD MARKETING
Subprime credit card acquisition offers from fintech brands were seen in mailboxes
across the year
3

4. What’s behind increased reliance on DM?
4
Combating “Zoom fatigue”
Direct mail offers a tactile experience that forces
people away from screens.1
Taking advantage of DM ROI
67% of marketers say direct mail delivers the best
ROI of any channel.3
Building trust and credibility
For brands that aren’t well known, repetitive mail
campaigns build brand awareness and credibility.4
Seeking high engagement
Consumers engage with 96% of DM they receive.1
Integrating digital responses
40% of direct mail packages offer a QR code. Other
digital response elements (web addresses, voice
activation, etc.) are growing in use, as well.2
Maturing competitive set
The ability of direct mail to precisely target offers
based on risk/geography appeals to fintechs as they
mature and seek new strategies to be competitive.4
Working multiple channels
Solo direct mail has a higher response on average than
solo email – 4.4% versus 1.2% across sectors.5 But the
best performing campaigns are omni-channel (DM,
email, mobile and digital) driving 6x more sales than
single channel campaigns.6
1. https://www.forbes.com/sites/forbestechcouncil/2022/07/14/three-reasons-mailers-arent-dead-in-
2022/?sh=4b6e848f5c9d
2. https://mailingsystemstechnology.com/article-4891-The-State-of-Direct-Mail-Marketing-and-
Predictions-for-2022.html
3. https://www.lob.com/blog/how-to-use-trigger-based-direct-mail-for-financial-services
4. https://www.postgrid.com/fintech-lead-generation-with-direct-mail-marketing/#heading5
5. https://www.postalytics.com/blog/direct-mail-vs-email/
6. https://www.omnisend.com/blog/omnichannel-statistics/

5. Fintech brands use direct mail marketing
best practices
In our sampling of fintech direct mail, we noted utilization of these proven tactics:
 Outer envelopes immediately engage prospects
 Johnson Box focuses on critical key benefits to inspire action
 Sidebars, icons, bullets and white space make DM pieces “scannable”
 Tip-on/faux cards are tactile and personalized with retention value
 Packages include reiterative calls to action
 Comparison charts do the work for prospects
5

6. Additional takeaways
 Less familiar brands attempt to establish credibility through these copy points in
their DM:
- Customer reviews
- Stats about customer satisfaction (e.g., 95% or 9 out of 10 are satisfied)
- Mention of the size of the brand’s existing customer base
- Logo display of third-party, trusted brands as “endorsements”
 Opportunistically, fintech loan campaigns are selling against credit
card debt. DM messaging includes
- Reassurance of soft credit pull (a likely concern of subprime prospects)
- Prominence of “pre-selected” or “pre-qualified” status
6

7. Additional takeaways (cont’d)
 Fintechs appear to struggle with brand expression and product positioning
 Fintech DM drives to online response via QR codes and URLs (or both)
- BRE/paper apps have disappeared, as they don’t support “easy and fast” response
or offer immediacy
- Phone response channels are seen but limited
 More established fintech brands are most likely to use a multi-channel approach
- SoFi, for example, is firmly committed to omni-channel marketing (including DM)
- Several fintech brands appear to be testing into DM
7

8. Example of SoFi Customer Journey: Channel mix targeting panelist
8
24 EMAILS + 4 MAIL PACKAGES ACROSS JUNE - DECEMBER 2022
June 2022 July 2022
September 2022 October 2022
November 2022 December 2022
Age: 41-45
Income: $75,000 - $99,999
DMA: Norfolk-Portsmouth-
Newport News, VA/NC

9. Personal Loan Direct Mail Examples
Supporting Takeaways
9

10. Direct mail drives to
digital response
 Cross-sell to existing customer
 Positive use of DM “101 tactics”
- #10 window OE
- Johnson Box laser focused on
available credit and rate sale
- Suggestion on how to use funds
- Comparison chart sells against
credit cards
• Effective, iterative CTA drives to
“Get Started” URL
10

11. Loan positioned against
card debt
 Likely effective positioning
given high consumer debt
on cards
 Pure prospect is pre-qualified,
so the DM would benefit from
use of that data for deeper
personalization
- The huge range of potential
credit line may be less effective
than a realistic LOC
- “See how low your rate can
go” is at odds with potential
22.28% APR
11
Mail volume
estimated at
7M packages
dropped between
June-Dec 2022

12. Leverages brand
LTF and personality
 Distinctive LTF makes Payoff stand
out in a sea of sameness seen
across fintech DM
 Positive emotional connection
(”Start your debt-free future”)
amplifies Payoff’s branding of
Happy Money
 Strong and iterative “how much
you can save” is supported by a
chart that does the math
• DM makes a convincing case for
ease of application with 1-2-3
easy steps and QR code response
12

13. Ad-like direct mail
 Breakthrough format quickly
makes a connection and engages
younger cohort
 Good use of 5-star reviews
 Inspires confidence by stating
“over 400k people have used Big
Picture Loans”
 QR code response and drive to
URL fit in with fintech approach
13

14. Consistent positioning
and execution
 Design tactics (white space,
layout bullets and icons) drive
readership while breaking out of
letter template
 Well positioned against card debt
 Discloses soft credit pull to
address likely concern
 Uses tip-on card with retain and
reference value
 Drives to/reinforces online
response and ability to have
funds in “as little as a day”
14
2022 top
subprime mailer
for loans
(29% of volume)
Source: Comperemedia

15. Putting proven DM
tactics to work
 Takes a debt consolidation lead
 Positive uses of “personalization”
- Personal loan summary prepared
for <name>
- Plastic tip-on Funding Access Card
 “As featured in” logo display uses
publications to lend credibility
15
2022 top
subprime mailer
for loans
(29% of volume)
Source: Comperemedia

16. Relies on mail and social
channels
 From January-September 2022,
Comperemedia captured mail
and Facebook promoted posts
- No emails were captured, a
departure from fintech reliance
on email
 Personalized offer is
communicated in the letter, a
positive move since competitors
typically drive to view offers on
the web
16

17. Strong messaging in a
pragmatic DM
 Brand LTF could be better infused,
although the simplicity of the
existing package is a strength
 Copy is laser focused on the end
benefit (a best practice)
 Chart shows potential monthly
loan payment amount (a likely
concern) to give the prospect a
tangible, visualized example
- Competitors typically chartify
interest savings vs. projected
monthly payment amount
 Phone is a response option, in
addition to URL and QR code
17

18. Credit Card Direct Mail Examples
Supporting Takeaways
18

19. Focused on improving
credit scores and
achieving life goals
 Non-linear approach appeals to
targeted cohort
 Effectively telegraphs improved
credit score as a path to lifestyle
improvements (home, car, etc.)
 Positive customer endorsements
include claim of score
improvement by 30 points on
average
 Drives to web via QR code
and URL
19
First mail
campaign for
Chime card
Source: Comperemedia

20. Unified online and
mail LTF
 Recognizable brand LTF across
channels
- Sparse in content. Use of white
space keeps focus on a few
hierarchical benefits
- Stylized icons
 Third-party endorsement via
snipe focused on Wallet Hub
rating of “Best Overall Credit
Card”
 “Responsible credit...” message
may be perceived as at odds with
the buck slip instructions to
“activate and treat yourself…”
20

21. Weak marketing of the
card’s end benefit
 DM messaging is weak,
specifically its “end benefit” sell
- Copy is euphemistic (“helps you
make progress” and “get the control
you deserve”)
- “Exclusive” claim is never paid off
- Missing tout of an additional line
of credit and buying power (which
would likely have appeal and
motivate response)
21

22. Selling against secured
card negativity
 Pragmatic yet “aspirational” card
positioning is relevant to target
audience
 Clearly taps the anti-secured card
sentiment and leverages
”freedom” as a benefit
 No-nonsense communication
focused on personalized credit
line and no fee benefits
22

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