Consumers Value TransPromo Documents
September 30, 2009 – According to a study commissioned by InfoPrint Solutions, a provider of output solutions for businesses, all consumers, but particularly young people, continue to value the financial documents they receive in the mail alongside online access. The study, conducted by Forrester Research, shows that consumers value personalized marketing on their bills and statement online, but even more so on paper.
In August 2009, Forrester surveyed over 1,200 consumers (between 25 and 64 years old) across the U.S. and Europe. Consumers were asked about a range of topics covering their use of and attitudes to statements, invoices, bills, receipts and direct mail, online and offline. The study found that:
Younger consumers do not seem to be moving away from paper. For example, 70% of consumers aged 25-34 who receive bank statements read them on paper compared to 63% of consumers aged 50-64. Across all ages most printed documents are read more than once and often for an average of three minutes.
Consumers surveyed state that while they do consider the environmental impact of receiving paper transactional documents, they still prefer to continue receiving their paper documents -- just 18% of younger consumers prefer companies to stop using paper documents.
Over 60% of consumers surveyed read the bank statements they receive in the mail even if they are heavy Internet users. While 67% of consumers read their bank statements in paper form, nearly 30% also view their statements online. By contrast just 26% of consumers only read their statements online.
The Forrester study found that consumers value their transactional documents highly with 74% finding them useful or very useful. 67% of consumers say the value of these documents affects their opinion of a company and 74% think that personalized, relevant messages are useful.
Surveyed consumers prefer to receive personailzed, relevant marketing messages on their paper statements rather than by email, web or direct mail. 32% of consumers choose paper as their preferred channel compared to email statements at 19%, web statements at 8% and direct mail at 6%.
About: Forrester surveyed over 1,200 consumers (between 25 and 64 years old) across the US, UK, France, Germany, and Italy in August 2009. All respondents had at least one current account or loyalty program with organizations such as financial, telecom providers, utility companies and retailers.