Wednesday, March 16, 2005
A New Take on Junk Mail
A few months ago, I was asked by a reporter why more consumers didn’t use the one-stop opt out number for those pre-approved credit card offers.
(For those who don’t know, you can make a single phone call, 1-888-optout, and remove your name from the list of names sold to the companies who offer you pre-approved credit cards and some insurance products.)
The reporter and I talked about how the three main credit bureaus (Equifax, TransUnion and Experian) tasked with maintaining this toll free number had no motivation to make it widely known. We talked about how the FTC had (correctly) placed higher priority on creating consumer education campaigns around fraud and identity theft.
What we didn’t discuss was the fact that consumers may know about the number, but don’t opt-out because we actually LIKE getting these offers in the mail. A new study by an admittedly biased source (a company that sells direct mail services) has suggested that we like getting all kinds of offers in the mail.
53% of consumers reported that they became aware of the last credit card they applied for by getting an offer in the mail. When asked about direct mail from retailers, the only type not read by more than half the respondents was furniture store flyers.
The truth of the matter may just be that we like junk mail…as long as it isn’t junk. And what makes mail junk is an individual decision (of course, for an 'individual approach' to this issue, you can always read my book!)
(For those who don’t know, you can make a single phone call, 1-888-optout, and remove your name from the list of names sold to the companies who offer you pre-approved credit cards and some insurance products.)
The reporter and I talked about how the three main credit bureaus (Equifax, TransUnion and Experian) tasked with maintaining this toll free number had no motivation to make it widely known. We talked about how the FTC had (correctly) placed higher priority on creating consumer education campaigns around fraud and identity theft.
What we didn’t discuss was the fact that consumers may know about the number, but don’t opt-out because we actually LIKE getting these offers in the mail. A new study by an admittedly biased source (a company that sells direct mail services) has suggested that we like getting all kinds of offers in the mail.
53% of consumers reported that they became aware of the last credit card they applied for by getting an offer in the mail. When asked about direct mail from retailers, the only type not read by more than half the respondents was furniture store flyers.
The truth of the matter may just be that we like junk mail…as long as it isn’t junk. And what makes mail junk is an individual decision (of course, for an 'individual approach' to this issue, you can always read my book!)
# posted by AmandaWelsh @ 8:48 PM 
