The Future of Communications is Now
It seems that everyone these days is pretty tech-savvy. We all carry supercomputers in our pockets, check our phones about 47 times a day, and we expect to be able to personalize our experience for everything. We love recommendations that help us get through the over-abundance of choice to help us find what is most important to us as — based on what we like. It’s no different when it comes to mail from businesses we transact with. This is great news for companies who are trying to earn your business, but not so much for those trying to keep your business.
Forrester’s “The Value of Contextual Communication” study found that “Customers want bills and statements to be more customized to address their immediate questions, appeal to their moods, provide information that is relevant to lifestyles, and reach them on their preferred devices.” This is a pretty high bar if you’re a business trying to deal with resource constraints and rising distribution costs. Many businesses these days struggle to seek out efficiency from legacy systems and multiple customer databases. On top of that, any changes to bills or statements can take upwards of 18 months to get compliance approval. These challenges pose great obstacles, but also present a great opportunity.
The time for businesses to “flip the script” and think of communications differently is now. Broadridge recently put this idea to work and ran cross-functional workshops to help determine what the future of billing could look like. They started by creating three groups with different skill sets. One group reimagined the devices and use of data to simplify interactions and drive action. Another team focused on the physical design that would drive engagement, while a third team looked at how AI (artificial intelligence) and consumer networks could create easy, yet meaningful engagement.
While this study is a great primer for how your business can rethink your billing approach, there are ways you can get started right away with the tools you already have. First, think about repurposing your current web assets and links to create more engaging experiences or drive more direct actions. Second, analyze the data you already have to identify what is engaging your customers and make them even easier to navigate. And, finally, capture more detailed preferences that will help you deliver information that supports your customer’s experience.
Keep in mind:
1. Make every interaction with your customer a meaningful one
2. Contextual communication sparks positive emotional reaction
3. Prioritize the customer’s most emotional moments
4. Architect the context to drive sentimental value
5. Appeal to the consumer’s lifestyle and identity
We can certainly help you take your communications efforts to the next level, so feel free to contact us to set up some time to chat. In the meantime, utilize the information we provide in the study and see if you can put it to use in your business soon.