Tuesday, February 28, 2012

Email bills should be like iTunes: anywhere, anytime, any device…

Technology is evolving at an incredible rate, which means that the strategies you employed 2 or 3 years ago are probably no longer on target. Take personal audio for example: If a group of music executives was discussing how to increase sales on audio cassettes, you’d think they were out of their minds.


Going Paperless is not about you – it’s about the CUSTOMER


I have met with literally hundreds of companies to discuss their strategies for reducing paper mail. I often see a group of executives sitting around a table discussing how THEY would go paperless. A huge mistake, as the paperless process is ultimately in the hands of the customers, not the biller. With vested interest in eBilling and deeper knowledge of the benefits, the people behind these initiatives are generally willing to go to more effort to turn off paper (if you’re reading this blog post, you probably fall into this category). What these executives fail to realize however, is that their opinions only represent a tiny fraction of the population, rather than the vast majority of consumers who are not necessarily resistant, just more apathetic.

Ask the audience:


When was the last time you asked your customers what THEY want? Not a 50 question survey, just a 1 question poll in an email or on your website. One of Striata’s telecoms clients polled customers to find out whether they would prefer to log in to the portal, or receive their bill as an email attachment. To their surprise (not ours) 66 percent more customers requested their bill as an encrypted attachment.

Let’s think about bills in iTunes terms:


  • CDs are like paper bills;
  • Listening to music online is like logging in to a portal to view and pay your bill; and
  • Downloading a song (file) to your chosen device is like receiving your bill as a file (attachment) to your PC, tablet, iPhone, Android, Blackberry etc.

Does your distribution model meet consumers where they are?


Music downloads have skyrocketed as technology advancements have made it possible to access all your favorite tunes, from a wide range of sources (like billers) on a single device. And for those that want to, they can burn them to a CD – much the same as printing a copy of their bill. In terms of eBilling, the best way to achieve critical mass is to meet your customers where they are – in their email inbox.

Mobile should be a key part of your strategy. A study by Litmus reports that 15 percent of all emails are read on mobile devices.
Blog image

One website at a time or downloaded?


Tech savvy consumers who listen to streaming music online are happy to do so when connected to the internet with the required bandwidth. However, in eBilling terms, they would have to go to a different website for each artist (bill) they wanted to listen to. What if music downloads were free (and legal)? How many of these consumers would prefer to have their favorite songs automatically delivered to all of the devices they use regularly – PC during the day, iPhone on the go and tablet when sitting on the couch? I know I would. Bills can be delivered to all of these devices as email attachments, regardless of internet speed.

As for CDs, some people may never want to give them up – just like paper bills. Focus your strategies on the consumers that DO have access to the technologies you’re looking to leverage.

What about the 'Double Dippers'?


According to Javelin Strategy & Research and NACHA, 30 to 40 percent of consumers who receive their financial statements and bills online also receive paper versions. Known as “double dipping”, this trend is essentially costing billers and banks significantly more than the customers that have been on paper from day one. Surprisingly, double dipping exists primarily among Gen Y (18-32 year olds) and Early Adopters. Maybe these are the mobile internet users for whom portals don’t fully satisfy their requirements.

Right strategy, right technology


eBilling and online banking solutions have been around more than a decade, yet for many companies, the strategy hasn’t changed much – “build a portal and they will come”. It’s a bit like the definition of insanity: doing the same thing over and over again and expecting different results.

With Striata’s clients regularly achieving adoption rates 2 to 4 times higher than the industry average, we know a thing or two about getting rid of paper. Interested? Let’s talk .

Wednesday, February 15, 2012

Why secure email technologies won't turn off paper

eBilling and paper suppression needs to be adopted by the majority of consumers for secure electronic document delivery to be successful. Gaining the customer's permission to turn off paper (or eConsent, as we call it) must be so simple that absolutely everyone can do so easily and quickly, from any computer or smart phone.

What could be quicker than one click from within the body of an email?


How do secure email solutions compare?


Secure email solutions require either online registration, multi-layer validation, software downloads or all of these. As such, they are simply too complex to be used for high-volume, eDocument delivery or eBilling. The majority aren't supported by smart phones either - and if they are, a complex app download is required.

Billers and financial institutions, striving to turn off paper, need to completely eliminate any registration or sign-up process, which makes secure email solutions unusable for eBilling or secure eDocument delivery.

How Secure Electronic Document Delivery / Email Billing solves this challenge


A device agnostic solution is the only solution that offers customers true convenience. Keeping track of the ever-changing multiple operating systems and versions, email clients, mobile devices and settings is almost impossible. Customers must be able to open their secure document anywhere, without having to do or have done anything different.

The answer is in the strategy: secure the attachment and NOT the email.

Why secure the attachment vs. the entire mail?


Securely encrypted email attachments:

  • Viewable on ALL email capable mobile devices as well as any computer or tablet.
  • Can be opened with just one click.
  • No pre-registration is required and NO username and password to remember.
  • Recipients can print the attachment and have a perfect copy of his bill/document.
  • Can be saved locally and remain encrypted.

Securing the entire email however:

  • Requires high level of technical knowledge by recipient.
  • Mobile devices do not support email encryption.
  • Links back to websites are susceptible to phishing.
  • Pre-registration is required.
  • Costly marketing expenses are incurred to drive pre-registration.

Using email to securely deliver your bills, statements and other high volume documents is a great idea and is incredibly convenient for the consumer. So why send an email with a link back to a website when you can send the actual document itself?

If you want to achieve significant paperless adoption rates, we recommend that you keep it really simple. Adopt a one click, no registration approach and you will have a process that your customers will not only love, but will adopt in droves.

Wednesday, February 8, 2012

Why would you segment your eStatement client base?

Too many companies assume that when a product is universal, it must appeal to everyone and the same message, sent to all recipients should be enough to convince them to sign up.

Not so.

Even in the niche space of eBilling (versus the broad spectrum of eMarketing), there is still value in profiling your clients, as it allows them to choose how they wish to experience your service. Sending the identical communication to everyone in a client base is inadvisable.


Engagement Marketing


A concept that has recently grabbed my attention is ‘Engagement Marketing’. Essentially, how do you market to a client base in a way that holds their attention and keeps them loyal to your brand?

Meeting your customers' needs is at the core of engagement marketing and the best way to know what your clients’ needs are, is to ask them - individually.

It is important to engage with your customers in a way that gains you maximum loyalty. Remember that adage: “the customer is always right.” If we want to call ourselves engagement marketers, we should take that a step further and say “let customers choose what is right for them.”

Research shows that when customers have the power to choose what they receive, when and how often; they will also choose to maintain a fuller, more enriching and rewarding relationship with you.

eBilling - a great opportunity to engage with your customers


Asking your clients what they want from you in their eBill, enables you to not only open up a dialogue, but also to discover their preferences. To that end, creating and implementing a preference center * will empower your customers and enable you to connect more strongly with them. The more you engage with your clients, the more you can segment your client base and make each of their experiences tailored to their own preferences. Now you’re thinking - that’s going to take forever!

So let’s start small.

Because your eBill is a compulsory monthly communication to your client base, it is an ideal way to find out more about your client using polls and surveys. Firstly you need to find out where each client prefers to read their emails and their eBills. What device do they use; a PC, laptop (netbook), tablet, or phone or smartphone?

Consider your audience


In many developing nations, the majority of mobile Web users are mobile-only: Egypt is highest at 70%, India at 59% and South Africa at 57%. In Africa, 85% of the mobile-only Web users access the Web with a feature phone. Email makes up 46% of the mobile activities for mobile-only users in Africa. It has been predicted that smartphone penetration in South Africa is likely to reach 80% by 2014.

In 2011, it was predicted that over 85% of new handsets would be able to access the mobile Web. Today in the US and Western Europe, 90% of mobile subscribers have an Internet-ready phone.

The time for choice is now


In order to give your clients the option to read their eBill on their mobile device, you will need to hold a preference table of what device each customer prefers. In order to start segmenting your clients according to what they want in their eBill, perhaps you should consider meeting them where they are and on whatever device they prefer!

* A preference centre allows subscribers to tell you how they would like to be communicated with, citing for example, their preferred language, channel (email, text), device (smartphone, tablet, PC).

Simon Johnston
striata.com