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Wells Fargo to overhaul corporate direct marketing

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Minneapolis--Wells Fargo & Co. will overhaul its corporate direct marketing program, moving from a direct mail system to the Internet, said Scott Gable, senior VP of wholesale marketing-product management. Wells Fargo, the fifth-largest bank in the U.S., will launch a corporate direct marketing portal as part of the effort. Wells will also begin sending direct marketing information to its corporate customers through e-mail, in lieu of paper mailings, Mr. Gable said. E-mail marketing will be carried out on a tailored, permission basis, he said. Wells Fargo studies have indicated that many of its corporate customers do not read paper direct marketing offerings sent to them by the bank, but 80% of corporate marketing decisionmakers do read e-mail, Mr. Gable said. Wells Fargo's corporate customer base is composed of companies with more than $10 million in annual sales revenue. Wells Fargo's corporate direct marketing migration to the Web will take place over the next several months.
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