Customer Enrollment: The Gateway to Electronic Billing Benefits
Post on 12-Jan-2016
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Customer Enrollment: The Gateway to Electronic Billing Benefits
Utility Payment Conference
2© 2010 – Proprietary & Confidential
Agenda
What is the ePayer Landscape?
Who are Relationship Builders and why are they important?
What does my enrollment solution need to offer?
How can I get more Relationship Builders to enroll?
3© 2010 – Proprietary & Confidential
The ePayer Landscape
Steps to ePayer success:
1. Recognize the distinct types of ePayers.
2. Ensure your strategy meets the make-up of your unique landscape.
3. Integrate so you can grow and evolve with your bill payers.
4© 2010 – Proprietary & Confidential
Who are Relationship Builders?
Relationship Builders…
Pay bills on time
Desire an interactive experience
Conduct most business online
Develop deeper relationships
Can be the most profitable
Electronic bill presentment customers are 35% more likely
to pay their bills on time.- Aspen Marketing Services, 2009
Households with recurring payments have lower
delinquency rates.- ORCC survey of 1000 billers
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Relationship Builders are Consistent
They tend to pay at the same time each month, often by automatic bank account deduction and in advance of their due date, which increases your cash flow and lowers its risk
Source: Aite Group
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Relationship Builders can be Eco-Friendly
Consumers Switch to Online Statements to Reduce Environmental Impact
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Households With Recurring Payments Have Lower Delinquency Rates
Source: Online Resources Survey of 1,000 households
Relationship Builders Have Lower Delinquency
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Companies can expect to save 37 – 45% when bills are delivered electronically
Source: ESP Consulting, Javelin Strategy & Research
Relationship Builders Have Lower Bill Delivery Costs
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What Does my Enrollment Solution Need to Offer?
Wants and Needs:• More features, capabilities• Interactive experience• Choices, control
Consumer Concerns• Record Keeping• Notification when a bill is
due/paid• Control of options• Security
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Maximizing Adoption
Turning Paper Payers into Electronic Payers
Get Control by Giving Control Target Convenience Payers Provide incentives Educate about options Quarterly Marketing Yields Results
Targeted Messaging is Key Alleviate security concerns Enhanced record keeping
13 months of payments and bills
Notifications when bill is due / paid Control of payment method and timing Incentives
11© 2010 – Proprietary & Confidential
Measured Effects of Consumer Marketing
Recent Results of Implementing Best Practices
Multi Channel Marketing 7% Electronic Payment Growth
Utility implemented a multi channel marketing campaign 1 Year results Focused on consistent payers Encouraged paper turn off (for electronic billing)
20% Electronic Payment & 15% Paper Turn off Focus on email presentment & payment 1 year results Encouraged paper turn off
12© 2010 – Proprietary & Confidential
Summary
Relationship Builders are low-cost, high value customers
Enrollment solutions need to offer the choices and control that
Relationship Builders demand
Targeted marketing performed regularly is most effective
Consider the value of integration with other customer
channels
13© 2010 – Proprietary & Confidential
Questions?
Thank You!
Bill KinnellySVP - Marketing, Product, & Performance Management
Online Resources Corporation
Tel: 609-606-3117
Email: bkinnelly@orcc.com
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