$25m Saved Through Statement Suppression Initiative

July 14, 2016

Sweepstakes Prizes Motivate 257,000 Customers to Switch

 

It can be challenging to persuade customers to switch from a behavior they have had for many years — and feel comfortable with — to a new behavior.

This is the challenge that a large financial services company faced. After numerous attempts to switch customers from monthly paper statements to eStatements using “convenience and environmentally friendly” messages, it still had over one million customers receiving paper statements.

In the six months that the program ran, 257,619 customers agreed to convert to eStatements, 21.4% of the potential audience. This case study will show you how much money the company saved, and how Next Level Performance helped them do it.

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