Stuff it! The modest monthly statement stuffer is experiencing a renewal as marketers experiment with new ways to utilize, design and distribute it.

• Author: Sablosky, Tanja Lian
• Position: Feature

Consider the ordinary statement stuffer. It had a humble beginning as a low-tech communications tool bundled with the monthly bank statement. But, with the advent of today s multiple channels, has it outgrown its usefulness?

Not quite.

The stuffer "has been modified and--in some cases--redesigned, and is doing well in the new high-tech environment of the 21st century. It remains one of the top three or four means of communicating with hank customers, according to Mark Weber, president of Weber Retail Merchandising in Seattle. "There is a misperception that the Web is the primary source of [comparative financial product] information for everyone. Statement stuffers are one of the key touchpoints with customers--a crucial communication avenue you have 12 times a year."

In the past, stuffers were sent only by regular mail. Now some are distributed by e-mail. In past, the same stuffer went to every customer. Now customized stuffers are going to targeted market segments. In the past, suffers were on separate pages from the statement. Now some banks are merging stuffers and statements into a single, combined document. In the past, stuffers mainly pushed products. Today they are used to relay product or fee information, update regulatory and compliance information, and announce major changes like mergers and grand openings--and even to reinforce the bank's brand.

Some banks, in fact, are missing out on the full potential of the modern statement stuffer. "You have a captive audience," says Weber. "You are talking with someone who already has products and services with you. Take the opportunity to differentiate your bank by blending a branding statement with your marketing message."

Even when you me sending out your annual privacy statement, which tends to be generic and written in legalese, you can seize the opportunity to reinforce your brand, adds Weber. Design and write the statement stuffer to complement your bank brand and highlight an angle that relates to your bank, such as "Because of the kind of bank we are, the importance of privacy for our customers is our top priority."

Statement staffers and brochures that cover regulatory and compliance information in the past have generally been left to the compliance department, he notes, but marketing should take the lead with these customer communications to reinforce the bank's brand.

Essential elements to every stuffer are strong graphics, a contact name and phone number, the bank's Web address, and plain language with clear instructions on what the customer should do, says Liz Bissell, marketing officer for Legacy Bank in Pittsfield, Mass. "We often have a nonbanking person review our copy to make sure that it makes sense. We are so close to the product and message we sometimes think the information is clear and it isn't."

Language is a concern...