Latest Consumer Billing and Payment Trends Captured by KUBRA in 2020 Utility Report
June 30, 2020
KUBRA delivers insight from its nationwide consumer survey to inform utilities on their 2020 customers’ billing and payment preferences and how they can improve CX.
Mississauga, ON (June 30, 2020) — KUBRA, a leading provider of customer experience management solutions for some of the largest utility, insurance, and government entities, continues to build upon its research with a new utility consumer report for 2020. As a thought leader in the utility billing and payments space and an innovative payment provider, KUBRA constantly evaluates and researches customer behavior and attitudes to best support utilities in their efforts to offer better billing and payment experiences to their customers.
At the beginning of 2020, KUBRA continued to support the utility sector by building on the research it collected in 2018 on consumer billing behaviors. This nationwide survey captured the responses of 1,073 adults, 18 years of age or older, who identified themselves as the person responsible for their household’s utility (gas, electric, and water) decisions and payments.
Summary findings of the report:
- Mobile is a big deal in payments and billing channels. Mobile apps specifically are meeting the needs of the consumer of 2020.
- Quick payment processing is expected and continues to grow. Customers are expecting their payments to be processed and posted within 24 hours, if not instantly.
- Convenience is a major digital motivator. This recent pandemic has given the channel an additional push.
- Ease of review is a major focus for e-bill delivery success. Utilities should focus on design when trying to drive mail customers online.
- The preference is strong for email bill delivery and communication. Customers continue to prefer their utility to use this channel to communicate important information
- Self-service is the path to driving customer engagement and loyalty. Spark loyalty and engagement by providing more options and control.
“The only way that utilities can truly deliver exceptional billing and payment experiences to their customers is by first understanding their behaviors and attitudes,” said Rick Watkin, President and CEO of KUBRA. “Utility customer preferences are far from static, and that’s why we continue to explore this area so we can help utilities and their customers experience better billing and payments,” Watkin added.
To gain greater insight into customers’ current billing and payment preferences, download a complete copy of the 2020 KUBRA Utility Consumer Billing Report here.
KUBRA provides customer experience management solutions to some of the largest utility and government entities across North America. Our portfolio includes billing and payment, mapping, mobile apps, proactive communications, and artificial intelligence solutions for customers. With more than one billion customer experiences annually, KUBRA services reach over 40% of households in the U.S. and Canada. KUBRA is an operating subsidiary of the Hearst Corporation