How to Make Your Utility Bill and Payment Process Super Easy for Customers

by | Jan 14, 2021

Optimize The Utility Bill And Payment CX 

Today’s utility customers are exposed to high standards of customer experience from other sectors, such as financial services and insurance. It shouldn’t be a surprise then when they expect the same level of information, convenience, and availability from their utility.  Yet, there are cases where the only communication a customer receives is their utility bill and even then, the experience of receiving the utility bill and making a payment is not optimized for a great CX.

Whether the bill is one of a few or many touchpoints, the customer’s experience of the utility bill and payment process has a profound influence on their perception of the utility as a whole. It makes sense then that enhancing this experience should be part of a utility’s broader customer experience improvement strategy.

To transform the utility bill and payment CX, you need a robust combination of strategy, technology, and expertise. Why? Because balancing customer experience, security risk mitigation, and checkout conversion optimization is a challenging task.

The required steps include understanding the following:

  • How to reach your payments audience
  • What customers want in a bill and payment solution
  • How you can optimize CX in the utility bill and payment journey

Optimizing CX in the utility bill and payment journey 

In order to deliver the best experience possible, it’s important to take into account three areas of customer expectation:

Ease of use 

Today’s customers are busier than ever. They don’t have time to look for bills or engage in a prolonged payment process. They want to review their bill and complete the payment process in as few and simple steps as possible.

Choice of payment options  

Utility customers come from a variety of demographics. Some will be quick to adopt the latest digital payment options, while others may still feel most comfortable interacting with a CSR. Your payment solution needs to support all these diverse needs through a central solution.

Security 

Customers rightfully expect that your utility will do everything in its power to protect their sensitive financial information. By investing in a secure bill and payment solution, you safeguard both your reputation and their data.

Thankfully,  enhancing your utility bill and payment process doesn’t have to be a massive project. In fact, modernizing it can be done quickly, seamlessly, and without any disruption to your customers.

By working with a utility-focused billing and payment provider, you can draw on existing industry expertise to improve the bill and payment journey, without increasing the burden on your internal teams.

Tip: Look for a partner that can fulfill your immediate needs, while also helping you plan for a full omnichannel customer bill and payment experience.  

Need to simplify your utility bill and payment process? We’re always happy to consult with you on the best approach. GET IN TOUCH

3. Expansion of digital products

As banking customer behavior shifts, banks must move with the times, or risk getting left behind. Many banks today are exploring the power and potential of open banking, which can allow them to offer more innovative products and services to their customers, as well as to better compete with fintech companies and other non-traditional financial service providers.

As you shift your banking business model to reach new segments or provide an enhanced array of services, communication becomes even more pivotal to your success. After all, if your customers don’t know which new services they qualify for, or how those services will help them meet their goals, then they are unlikely to explore them further. CCM technology can be leveraged here to provide personalized on-statement messaging that directs customers to the right products and services, as well as 1:1 personalized “explainer” videos to help them get started.

Adjusting your bank’s priorities to thrive in 2023

In an era of constant change, the key to successfully transforming your bank’s business model will be to stay attuned to the changing needs and preferences of customers, and to be open to exploring new opportunities and technologies that can help your FI stay competitive and relevant. But these new opportunities are doomed to fail if you do not clearly communicate their benefits and make it simple for customers to access them.

That is why transforming your customer communication strategy is the best first step to broader digital transformation. By updating your approach to communications to meet omnichannel customer needs, you also position your bank to communicate the benefits of changes in your broader organization, like new or enhanced products and services. The pace of change in banking has never been brisker – but with the right strategic approach to these changes, the future is bright.

Investing in a modern customer communication management and engagement platform is an essential part modernizing your banking strategy, as it can provide the personalized digital experiences that will keep your bank or credit union ahead of the competition. It helps provide a great customer experience, and builds rich relationships, which in turn results in customers for life and a competitive advantage in the rapidly evolving financial marketplace.

How Doxim can address the banking customer communications trends identified and help future-proof your digital banking strategy

banking customer communications trends

Doxim’s experienced consultants and omnichannel platform can help transform your customer experience in many ways, including:

  • Gathering and utilizing customer data to continually improve the personalization of communications.
  • Building trust with customers via communication (via print, PDF, HTML, email, text, and online interactive experiences).
  • Leveraging interactive video to drive personalized digital customer experiences, such as interactive statements, bills, or reports, that offer visual engagement and real-time interactivity
  • Putting customer data, including customer statements, at the fingertips of your service representatives for immediate and personal service.
  • Making a meaningful connection with value-added content, like information about philanthropic activities, on customer statements.

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