improving bills and statements for better customer engagement
DESCRIPTION
With consumer email and phone opt-out rates on the rise, you need to take advantage of every interaction. Join our webinar to learn about reaching a new level of customer engagement by turning your most-read communications statements and bills into more personalized experiences with customized formats, more compelling offers and true self-service convenience. Hear about the latest technology trends for: - Create more targeted messaging to achieve your most critical business objectives - Interact with every customer as an individual with best-next-action offers and messages - Generate high volumes of the most well-designed, highly personalized statements your customers have ever seen, presented via their channels of choice. https://www.pitneybowes.com/us/customer-engagement-software.htmlTRANSCRIPT
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Bills for Better Engagement
September 23, 2014
Gerhard Heide – Director, Global Market [email protected]
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Customer EngagementThen…. astonishment at the first self-service check-outs
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Customer EngagementToday…. anytime, anyplace
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More Than Just an Experience
“Customer Engagement is a customer's emotional response to their Total Customer Experience.”
-- Chris Kirby, Fifth Quadrant
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Engagement Drives Business Results
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Customer EngagementAnywhere and everywhere
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Ask Yourself?
How many marketing communications do you receive per week?
How many do you actually read?
How many are relevant to you?
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In Reality…On average, targeted consumers reportedly received about 157 unsolicited emails per month
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Who is right?
74% say this marketing is not relevant for me80% say relevance is a
key factor in our customer communication
Marketer Customer
Relevancy is in the Eye of the Beholder
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Top Drivers of Opt Out?
Frequency, Permission and Relevancy are Top
Source: IMR2012
Frequency30%
Permission26%
Relevancy23%
Differentiation12%
Timeliness9%
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Most Valuable Customers are Most Frequent Unsubscribers!
Average Opt-outs
0
10
20
30
40
50
60
Opt
-out
s pe
r mon
th
Opt-outs by Income Tier<$50K $50-74K $75K+
Average
39% of B2C organizations send an email every 1-3 days to their most valuable customers - twice as often as to other customers Source: IMR2012
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Is There One Thing You Do Read?
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Every Day, It Gets Increasingly Harder to Reach and Engage Customers Efficiently
Over 97% of bills and statements received are opened; the average consumer spends 2-5 minutes reviewing them
With thousands opting outof marketing messages every day,
more organizations are taking a fresh look at bills and invoices to discover today’s best practices
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8.6%
8.6%
13.5%
15.0%
16.1%
16.9%
20.2%
20.2%
21.7%
22.8%
25.1%
31.5%
0% 10% 20% 30% 40%
Multi‐channel campaign management
Content management for multi‐channel delivery
Managing channel preferences
Customer authentication and identity management
Mobile and tablet optimization
Integrating transactional and marketing data
Creating interactive documents
Use of predictive analytics to deliver relevant messaging
Use of social media data for customer service
Managing e‐consent
Managing customer communications across entire lifecycle
Targeted, personalized messaging
Transactional Communications: Most Important Areas for the Next 1-2 Years
Three Responses Permitted
N = 267 business respondents in the U.S. Source: The Future of Multi‐channel Transactional Communications in the U.S., InfoTrends, 2013
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25.1%
2.5%
6.3%
14.1%
14.6%
16.1%
18.7%
20.4%
28.8%
34.6%
36.7%
0% 10% 20% 30% 40%
None of the above
Other
Include advertising
Include educational and informational content
Use color to improve the look and feel
Add interactive elements
Make it easier to review multiple communications
Lengthen time archived communication available
Use color to emphasize important information
Make them easier to understand
Personalize the content for me
Market Challenge:How Providers Can Improve Communication
Multiple Responses Permitted
N = 2,025 Consumers age 18+ in the U.S.Source: The Future of Multi‐channel Transactional Communications in the U.S., InfoTrends, 2013
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Turning Bills into Effective Engagements Starts by Knowing Each Customer
The key Execute in real time based on true insights and predictive analysis
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Four Obstacles Prevent You from Delivering This Desired Experience
Limited information
access
Lack of customer
insight
Inflexibility Disparateplatforms
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Customer-Engaged Billing
Easy-to-understand
Customized content
Customer know-how
Output flexibility
Reliable, high-speed PERSONALIZED EXPERIENCE
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What You Can Expect
Delight customers
Drive new revenues
Maximize ROI
Reduce service costs
$
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Customer-Centric Presentation and Delivery
Format
Channel
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Example – Video Billing
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Automated “One-to-One” Intelligence
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Personalized Content
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Synchronized, Multichannel Experiences
Personalize experience and content across every billing touchpoint
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High-Speed, High-Volume, Cross-Channel
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See What They See
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Turn Your Most-Read Communications into Highly Targeted Engagements
Graphics-rich design
Targeted 1:1 offers
Predictive analytics
Multichannel output
High-speed production PERSONALIZED EXPERIENCE
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Use Case: Leading ISP
Provider of internet, phone and TV bundles
Objectives:• Reduce churn, improve cross sell• Reduce call center volume
Results:• Revenue increased $45 million• Customer churn hit industry lows• Products-per-customer grew from 1.8 to 2.2• Call center volume declined 10%
Improved billing engagements
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Use Case: International Energy Company
Results:• Consolidated gas and electric statements• Provided customers with multi-lingual options• Personalized offers and service content• Graphic-rich, easy-to-understand statements
Clarity of communication
Providing gas and electricity to millions
Objectives:• Streamline print and digital production• Engage customers more effectively
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International Energy Company
Clear and easier to read, with more personalization in print and digital
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Use Case: Australian Telco
Results:• Used colour to boost clarity• Added personalized 1:1 messaging• Increased satisfaction with statements• Established process for ongoing improvement
Advancing readability and results
Large telecommunications and media company
Objectives:• Improve customer satisfaction• Enhance overall statement effectiveness
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Customer-Engaged Billing from Pitney Bowes
The proven way to reduce costs and increase the business value of bills and statements
An end-to-end solution that utilizes real-time customer insight to engage customers in more relevant ways
Enables more targeted, effective marketing while driving customers to more cost-efficient channels