Using the Power of Personalization to Modernize Your Print Communications
July 19, 2023
There aren’t many documents out there that are more personalized than bills and other transactional documents. These documents are completely customized to the individual, displaying their name, address, and account number. And they provide detailed information about an individual’s or company’s usage and the subsequent amount owed. But that’s just the tip of the iceberg when it comes to personalization.
Watch the webinar on-demand: 5 Ways to Modernize Your Print Communications
Consumers Want Personalized Experiences
According to research conducted by Epsilon, 80% of consumers are more likely to do business with a company that offers personalized experiences. We’ve established that transactional documents have built-in personalization, but there are so many other opportunities to explore to up your personalization game. When you can personalize content, promotional offers, and marketing communications, your customers will receive messages tailored to their specific needs and preferences. Being able to send relevant content to your customers increases the likelihood that they will find the information valuable and engaging.
The Right Content, the Right People
How exactly do you ensure you’re getting the right content to the right people? An effective print and mail solution will not only be able to print and distribute your bills, but it will also serve as a marketing segmentation tool. As billers, you have some of the most robust data that exists on consumers. That data can be used to segment and target your customers to give them an even better, more personalized experience. When you have the right print and mail solution, you can harmonize the data on your billing file with customer data to segment your customers, build personalized campaigns, and choose how you want to deliver them. This can be in the form of text-based messages, images, or even inserts and onserts.
The Benefits of Personalizing Transactional Documents
1. Boost Customer Engagement
Personalized content aligned with customers' preferences and interests will foster increased customer engagement and appreciation. Custom content tends to capture customers’ attention better than generic messages because it speaks directly to the individual's interests, leading to higher engagement rates. For example, consider including a message or campaign about an upcoming energy efficiency program for customers who have indicated their interesting green energy.
2. Change Behavior
Behavioral data provides valuable insights into how customers interact with you. By analyzing this data, you can identify patterns, preferences, and pain points, enabling you to create the content your customers seek. This type of data can impact your bottom line and cash flow. For instance, if you have a customer segment with an irregular payment pattern, consider messaging highlighting the benefits of enrolling in autopay.
3. Improve the Speed to Payment
Personalized transactional documents enable billers to send targeted payment reminders based on individual customer behavior and preferences. This can include personalized call-to-action messages, payment plan options, or even incentives for early payments. Documents can also contain customized payment options like personalized QR codes that lead customers directly to their payment portals.
By making transactional documents more personalized, billers can create a more meaningful connection with their customers, enhancing overall satisfaction and loyalty in the process.
Stay tuned for Part 2 of this blog series, where we will look at strategies you can use for personalizing print and mailed transaction documents. In the meantime, watch the on-demand webinar on Print & Mail Is Not Dead: 5 Ways to Modernize Your Print Communications.