Unlike high street banks, First Direct doesn’t ‘inherit’ young customers; instead it has to work hard to attract them fully-grown. Prospects are enthusiastic when they send off for the form to switch banks, but inertia sets in and they need a little extra persuasion. Some prospects are identified as being as high value potential customers and so justify extra effort to convert them. This is done in the form of Chase mailings over several months. The Chase series kicks off with a rich pack that costs more but pulls better. Fuzzy Felt is the latest rich first direct pack.

With a response rate of 6.3% and a conversion rate of 57% Fuzzy Felt was 3.45 times as successful at generating new customers than the Chase control pack.

Who could possibly resist picking up Fuzzy Felts and having a play? Certainly not our target audience for whom, aged mainly thirties and forties, Fuzzy Felts were part of their childhood. As you arrange the fun felts, you experience the benefits of first direct’s refreshingly different service. It’s a simple, easy world of flexibility, unbank-like charm. “Does your bank give you that warm fuzzy feeling?” This pack gives you a big dollop of first directness in a humorous, nostalgic way. Magical ingredients in sharp contrast to the distancing harshness of high street banking. Felt Vs Concrete? This pack lets you decide.