Companies are always looking for new ways to market their brands. Instead of looking for new outlets, though, why not look to your existing processes to promote your brand? Statement processing and billing services represent a huge opportunity to connect with your customers and market your brand through targeted, personalized and relevant communication.
Do people really look at — or even open — their paper statements, though? It is the digital age, after all. The overwhelming evidence is yes:
- Roughly three-quarters of consumers say they value financial documents they receive in the mail.
- 64% of consumers say they would use personalized coupons printed onto monthly billing statements, according to a survey by Zoomerang and Inprint.
When you send an account statement to a customer, you have a captive audience. What are you trying to communicate?
- Provide pertinent account information in a readable format.
- Promote your services.
- Establish quality customer service.
- Prompt action from your customers – whether that means paying a bill, signing up for new services or simply creating brand loyalty.
Incorporating all of these elements into an easy-to-read statement can be tricky, but there are some simple guidelines you can follow for maximum effectiveness:
- You do not want to inundate your customers with pages of information. It’s time-consuming for them and costly for your business.
- Maximizing the layout design is crucial.
- Keep the language clear and concise.
- Using the margins to break out special promotions, news or contact information is one way to save money on paper while keeping a statement readable.
- Your statement should utilize color for logos and to highlight important information, while taking care that the statement looks professional and consistent with your brand.
With consumers spending an average 3 minutes reading over their bills, it makes simple business sense to use statement processing as a marketing tool. With today’s data management programs, companies can personalize their customer communications. Sending paper statements is more expensive than electronic communications, but targeted messaging can reap big rewards for the companies that do it right.
Contact Kaye-Smith today to find out more about how we can help you maximize your statement marketing efforts.