Are your billing statements taking advantage of all the upgrades and dynamic printing opportunities available? If not, it could be a roadblock to streamlining bill statement printing. Instead, add these things to your statements that can boost customer engagement and your cash flow.
Dynamic Bill Statement Printing Offers Personalization
Does every customer statement say the same thing? What if you could personalize the message based on the preferences and history of the customer? You can with dynamic printing via a White Paper Factory model. White paper feeds into the inkjet printer, but each statement has different content specific to that recipient.
So, how does this impact bill payment operations? For example, you may have a customer who sometimes pays online but doesn’t have your app or log into their account often. You could print a QR code on the statement that takes them to a secure landing page to remit payment. It’s convenient for them, you get paid faster, and it eliminates the friction of having to log into a platform to pay.
Another message that would be custom by segment is those that pay early. If so, they may be apt to sign-up for direct pay. Wireless phone carriers will often provide a discount for customers that set this up. If that’s something you offer, make sure your customers know about it.
Integrating More Ways to Pay
Customers have many ways to pay monthly bills—online, through the mail, and in person. Consumers expect omnichannel ways to communicate and engage with their providers. One additional option is with digital wallet integration. These are apps native to a smartphone, so no downloading is necessary.
With this integration, customers have access to more information and another way to pay. This works for e-statements and paper ones.
Convenience for the Underbanked or Unbanked
Businesses, especially utility ones, need to make concessions to those underbanked or unbanked. Under describes those that have a checking or savings account but use alternative financial services. Unbanked denotes those with no accounts. Currently, in the U.S., 10% of people are unbanked, and 24% are underbanked.
That could represent a sizable portion of your customers. How can you streamline bill payment for them? One option is cash barcodes. If you partner with retailers that accept cash payments on your behalf, the customer simply goes to one. The associate scans the barcode and receives the cash payment. It’s one more enhancement made possible with dynamic printing.
Clarity on Payments: When, Where, and How Much
Along with these tips, the final one is to ensure payment information is clear. With a modern, well-designed statement, you’ll emphasize these things in color or with boxes. When they need to pay, where they can pay, and how much they owe should be immediately understandable in your statements.
One way to understand if there’s any confusion is to ask customers their opinion and get feedback. You could also run tests, determining how easy the information was to find.
Streamline Bill Statement Printing with Engaging Statements
Making it simple to pay, offering lots of options, and ensuring no confusion are vital to delivering an engaging statement. With dynamic bill statement printing, you can customize messaging to each customer.
PCI Group can help you with our advanced technology, statement design services, and more. Contact us today to learn more.
