An important and ongoing business need is communicating with customers about commercial transactions. These communications – aptly named transactional communications – cover essential topics such as billing, monthly statements, order confirmations, subscription information and other timely updates.
Historically transactional communications happened primarily through the mail. The 2020 Household Diary Study, an annual publication of the U.S. Postal Service, found that transactional mail comprised 19 percent of all household mail and 50 percent of First-Class mail sent and received by households.
However, while these numbers represent a significant portion of mail delivery, one important trend highlighted in the same report is that transactional mail volumes have declined year over year from 2018 to 2020. This shift is attributed to more customers embracing online payments. In 2020 only 21 percent of household bills were paid by mail – the lowest percentage to date – while 76 percent were paid electronically.
While transactional mail remains a sizable opportunity and operational mainstay for businesses, there is clearly a need for them to explore other avenues that may better align with customer preferences, such as email and text communications. In addition to accomplishing the crucial task of delivering transactional messages, this omnichannel approach helps businesses improve client relationships and retention as they demonstrate their commitment to customer centricity.
Regardless of your approach, transactional communications are worth the time and investment to do properly. Businesses should also consider the marketing possibilities that come with transactional communications, as each piece can include targeted messaging and branding. These crucial customer touchpoints provide an ongoing opportunity to keep your company top of mind for customers while generating revenue.
Matrix has been experts in transactional mail for decades. When it comes to printing bills, invoices and statements for a variety of critical industries, we customize designs, add eye-catching graphics, utilize creative envelopes, and can include personalized messaging and inserts to optimize response rates. We can help keep your customers informed with transactional mail that’s personalized, modern, cost-effective and individually verified.
If you’re ready to move beyond traditional mail, we can provide customers with flexible, convenient bill presentment and payment options while giving your company the resources to enable this service. Customers can choose to receive their bills by mail or email or opt for safe and secure seamless mobile billing with mobile payment options. Through NextGeneration they can retrieve and view bills, make one-time or recurring payments, pay by text and see real-time account activity. Catering to customers’ preferences without adding a painful process to your company will keep billing simple and customers coming back for more.
Are your transactional communications delivering the results your business needs? We’re here to help you take it to the next level. Contact us today to get started.