Delivering protected information to customers requires businesses to follow rules, regardless of how the information makes it to them. Most companies still have print and mail communications as well as email statements.
Adoption of email statements has been increasing, as customers consider it more convenient. If your business hasn’t been working to grow this adoption, you could be missing out on some substantial cost savings.
However, you can’t use any email application. It must be compliant and secure. How can you promote adoption and continue to adhere to regulations?
The State of Email Statement Adoption
How many customers prefer email over paper statements? It varies by industry. Healthcare typically has a lower threshold since it has more regulatory requirements. Also, not all healthcare providers even offer this.
Many have chosen email for consumer finance and insurance communications. The instant arrival in the inbox versus the mailbox can also ensure that customers make payments on time. Lots of organizations send out reminders before the due date, as well, to remind people.
No matter what type of statements you send to your customers, you have the option to do so by email. You’ll need robust technology with functionality to ensure information is secure and that the communication actually makes it to the inbox.
The Fundamentals of Email Statement Delivery
As noted, the solution you adopt for emailing statements must have compliance and security built into the foundation. A typical email marketing platform doesn’t make the grade here.
These are the features to seek out:
- Advanced security that includes firewalls, encryption, and secure file transmission
- Protocols that meet all the mandates of documents with PII (personally identifiable information) and PHI (protected health information)/HIPAA
- List validation tools that reduce bounces by verifying that email addresses are accurate and not dead, wrong, or dangerous
- Sender certification capabilities that identify deliverability challenges to address
- Monitoring for any issues that would hamper sender reputation
- Inbox placement rate insights
- Email authentication to track the overall “health” of your process
- Reporting options for all engagement metrics (e.g., opens, bounces, clicks, downloads)
- Archiving functions to store emails securely
- Physical mail letter triggers so that if emails aren’t arriving, customers still receive statements
What Could You Save?
With a solution like this, you can confidently promote email adoption. You may even incentivize people to do so if possible. There will always be a segment of your audience that wants a paper statement, but many customers may be unaware that they can opt into email and out of mailed communications.
Your savings come from eliminating production costs of printing, materials, and labor. You’ll also slash your postage expenses. Depending on how many people transition to email, your total savings could be six to seven figures.
You’d then be able to reinvest that money into more strategic objectives that support growth and innovation.
Tips for Encouraging Email Statement Adoption
In closing, here are some ways to boost email adoption of statements:
- Emphasize email statement enrollment from the start. When someone enrolls as a customer, always let them opt in for email versus paper statements.
- Explain the benefits of choosing email. You could include things like always having access to statements from any device. You can’t really “lose” an electronic statement.
- Communicate with non-adopters often about using e-statements. You can do this on their paper invoice if dynamic messaging is possible. Add a QR code on the document that takes them to a page to opt in for emailed statements.
- Point out that it’s “green” to go paperless. Many of your customers may find this appealing since it saves natural resources.
- Assure customers that e-statements are secure by discussing how you keep their information safe.
- Place an opt-in pop-up that shows up when customers log into their accounts.
Want to learn more about saving money with a secure, quality solution? Explore PCI eDelivery today.
