Bill payments and transactional communications are an important part of the customer experience. For business longevity, it’s in a company’s best interests to ensure that customers are able to pay their bills easily. However, for many customers, there is a disconnect between how they want to receive and pay bills and what companies actually deliver.
Consider that more than half of consumers say they receive statements in a format they didn’t choose. This can mean that they prefer electronic statements but still receive them in the mail. Or, perhaps they are more comfortable mailing a check but the company only accepts electronic payments. This disconnect often extends beyond bill payments to other types of communications. Almost 20 percent of customers say they do not receive communications in their preferred format.1
These may feel like small missteps. But, for many consumers, they have big implications. In fact, 90 percent of consumers expect companies to honor their communications preferences.2 And if they don’t, many consumers are prepared to take action. More than half of consumers (56 percent) stopped doing business with a company due to poor communication.1
It’s clear that respecting customer communication preferences isn’t a nice to have; it’s business critical. To achieve this, give customers options for how they receive bills, including mail, text or email. Remember that customer needs and preferences will change over time, so give them a way to update their choices. An online customer profile is a great way to give customers the freedom to update their choices at any time.
Additionally, companies should take steps to ensure all communications are in sync with consumer preferences. One proven place for businesses to start is with an omnichannel communications strategy that encompasses print and digital. As part of this strategy, give customers the option to opt in or out of channels that don’t work for them.
With the right partner, implementing a customer-centric billing and communications approach can be straightforward and rewarding. Matrix has the experience and solutions to help support your customers’ billing preferences. We provide flexible, convenient bill presentment options that allow customers to receive bills by mail or email and access billing information online or on mobile devices. Customers can also retrieve and view bills, link directly to payment options, receive text notifications and see real-time account activity.
Improve your customers’ billing experience with the support your company needs to enable this service. Contact us today to get started.
