Market data in support of our comprehensive customer communication platform:
- The monthly statement continues to get the highest "open rate" of any customer communication
- Only 5.1% of consumers go to online portals to access their statement; yet 91% of adults receive emails
- Across industries, "electronic customers" are more profitable and have higher retention than "paper customers"
- 61 million consumers pay at least 1 bill online each month
- The cost of stamps has risen from $.29 to $.44 (a 52% increase) since 1991
- A company with 2 million customers will spend on average between $15m and $25m per year on stamps!
- 43% of consumers state that they are more likely to do business with a company they perceive to be Green
- More than 68% of customers who defect do so because of poor service
- The #1 category for why consumers call a customer service department is billing-related issues
The Business Impact
- Lower print and postage costs by converting customers to e-documents and optimizing the print process for the others
- Decrease customer service calls by creating self servicing options for both print and electronic customers
- Increase cross sell - regular and personalized e-communication and fulfillment
- Electronic payment options one click from their bill - reduces collection expense and accelerates when you get paid
- Make storage and retrieval easy, lower your paper usage and greatly improve your customer's experience
- Call center support - instant communication documents at your customer service rep's fingertips
For more information
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EBPP - Electronic Bill Presentment & Payment (EBPP) is a form of electronic billing where a company bills its customers and receives payment electronically over the Internet.[1] As the name also denotes, it addresses not only Bill Presentment, but also when applicable the process model for consumer payments to business.
Paperless customer communications – save on paper and postage and enable electronic servicing and marketing capabilities
Electronic documents - An electronic document is any electronic media content (other than computer programs or system files) that are intended to be used in either an electronic form or as printed output.
Customer Communications Management is a term highlighted by research companies such as Gartner Group, CEDAR document technologies, Forrester Research and Madison Advisors to define a convergent set of Information Technology solutions that together provide marketing communication professionals the ability to advance the way that they communicate with their customers.
