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Doxim’s Website Has a New Face!

As of September 7th, date the Doxim website has a fresh new look. We’ve improved the content entry paths on our two most visited pages – Home and Solutions and implemented a cleaner, more optimized navigation, providing easier access to all key content. We’ve also consolidated our products and services content, making it easier to access, using more customer centric solution categories.

Take a look at www.doxim.com. We hope you’ll like the improvements and, as ever, warmly welcome any feedback you have – positive or negative. Please feel free to direct any comments or observations to info@doxim.com and win a Tim Horton’s Gift Card!

Best Practices in eStatement Adoption

Encouraging Your Customers to Embrace eStatements

For most financial organizations, electronic statements, or eStatements, have become a standard offering. Unfortunately, many of these organizations do not have a well-defined strategy or plan to drive adoption beyond simply offering eStatements as an alternative to paper statements. So they often find that despite deploying an eStatement initiative, paper statements are still being churned out month after month with little change in eStatement adoption rates.

Proven eStatement Adoption Strategies
Whether you’re new to eStatements or currently have an eStatement solution in place, employing a proven eStatement adoption strategy is essential to help drive and improve eStatement adoption rates.

There is no right or wrong approach to the promotion of eStatement adoption. The strategies you choose depend on the needs of your customers and your organizational goals as a whole. They can vary from a gentle informative approach to a more hard line negative opt-out approach, or a myriad of combinations in between.

Here are some of the successful approaches that we’ve seen our own clients adopt:

New Accounts Only
A good place to start your eStatement adoption strategy is with all your new accounts. These customers have never received a statement from you, so why not start where you mean to go on?

Voluntary Opt-In
For your broader customer base, probably the gentlest approach is Voluntary Opt-in. This approach requires a good bit of marketing support as you need to create good awareness, likely supported by incentive programs, to encourage customers to request that their printed statements be turned off in favour of eStatements.

Online Customers
Online customers have already demonstrated that they are comfortable with online activities. Turning off paper statements and having your online customers access their official statements through their online customer portal should be a fairly simple transition.

Reverse Opt-In
A very effective, albeit hard-line approach is to implement a customer-wide ‘reverse opt-in’ approach. This requires you to turn off all statement printing at a pre-announced future date. With this approach it is very important to saturate all customer communication channels with pre-advice, to ensure everyone is well aware of your intentions.

In all cases, you can always provide customers with an option to opt back in for paper statements. However, you may choose discourage this by initiating a monthly charge for continuing to receive paper statements.

Interested in finding out more?
We’ve just published a new eStatement Adoption Kit, which contains real life case studies of Doxim customers who have successfully implemented their eStatement adoption campaigns with impressive results. It also includes helpful tips and other important things to consider when devising and developing your own adoption campaign.

You can download a copy of the eStatement Adoption Kit here