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Schwab Builds Credibility and Assets with Overnight Transfers

By Jim Bruene on August 9, 2000 5:16 PM | Comments


Don’t put off ‘til tomorrow what you can do overnight.

                       — Teaser copy on Schwab direct mail to clients


One of the biggest challenges in financial services marketing is getting customers to follow through and transfer their assets to your financial institution. Full-service brokers handle the process on behalf of the customer, diligently pushing the transaction forward so the individual broker can begin earning commissions.

But how do you get customers to act without a high-paid salesperson manually handling the transfer?

Charles Schwab (San Francisco, CA) came up with an innovative solution using Federal Express as the trusted courier. In a direct mail package to prospective clients, Schwab provided the following:

  • short introductory letter from Melinda Pahl, VP Marketing
  • instructions
  • asset transfer form*
  • prepaid FedEx overnight mailing label addressed to Schwab
  • co-branded Schwab Overnight  6 x 9 inch envelope

All in all it’s an impressive strategy and worth considering for your asset gathering initiatives.

*A copy of the customer’s most recent statement from the other financial institution was also needed.

Categories: Charles Schwab

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