From managing preferences to supporting various channels, companies face many challenges engaging their customers and creating positive customer experiences.
To help companies navigate the complex landscape of customer communications, InfoTrends conducts an annual Transactional Communications Market Survey. In 2015, data was gathered from 250 businesses and 2,000 consumers, spanning 163 questions and covering many facets of the North American customer communications market:
- Top business priorities for customer communications
- Digital delivery channels such as web, email, and mobile apps
- Paperless adoption tools and marketing tactics
- Bill payment trends and expectations
Broadridge was privileged to have guest speaker Matt Swain, Director at InfoTrends, present highlights of the latest survey results at our recent webinar, “The Results are In! Transactional Communications Market Survey 2015.”
When businesses were asked about their top priorities relative to critical communications (bills, statements, privacy notices, etc.), it’s no surprise improving customer experience (50%) was a top priority followed by cost reduction (36%), security and compliance (31%), increase paper turn-off rates (21%), and, lastly, increase mobile access (20%).
Bills and statements are opened and read more than any other communication received by mail.
When it comes to these business priorities, why are statements and bills important and what impact do they make? Year over year, InfoTrends research shows that bills and statements have extremely high open and read rates – from a digital perspective but even higher from a physical mail perspective.
Consumers responded that they open and read their bills and statements more than any other type of communication they receive by mail. Considering they spend two to five minutes reviewing these transactional communications, there is a real opportunity for businesses to connect with their customers by leveraging their bills and statements.
Hear Matt explain how bills and statements impact customer experience in this 2-minute video.
Consumers cited three ways companies could improve their critical communications:
- Make them easier to understand
- Personalize the content
- Use color to emphasize important information
While these three elements are important to both print and digital communications, many companies want to focus on digital communications and reduce print (as a reminder, paper turn off ranked #4 in top business priorities). Read our next blog to learn more about companies and their paperless adoption expectations – and what their customers have to say about it.