In a predominantly digital age, many businesses are switching from paper communication to digital for alerts such as bills and statements. Before making a full switch to digital, consider the needs of your customers.
Keep customers happy by allowing them to choose the form of communication they receive. “78% of U.S. consumers believe they should have the right to choose how they receive communications from financial organizations and other service providers.”1 Companies that accommodate their customers will earn their respect and loyalty. If your company does not provide a choice between receiving print communications or digital, you run the risk of losing your customer to a competitor.
If you make the switch, you should be mindful of the importance of notifying your customer. One mistake that companies are making is switching to digital with no notice. This can cause customer frustration when they suddenly stop receiving print communications and need to find out how to access digital bills and statements. Customers appreciate businesses that take the extra step to keep them in the loop.
Although we have become more technologically driven, not everyone has access to the internet. According to a 2021 study by BroadbandNow, “42 million Americans do not have broadband internet access.”2 For those without internet access, print is the preferred choice.
Keep in mind that switching to digital can cut out people in “rural areas, older people, and those living with handicaps or on low incomes.”3 You may be making it harder and even impossible for customers to access their information. Ultimately leading to frustration and a negative interaction with your business and forcing them to change to a business that offers print communications.
“53% of U.S. consumers find it easier to track and manage their finances with printed bills and statements.” 1 Your customers will end up printing out their electronic bills and statements regardless of supplying a digital version. Rather than adding an extra step and the hassle, offering both formats can please each consumer from the start.
There are benefits to each print and digital communication. Overall, it is best to provide options to keep your customers happy and allow them to choose what works best for their lifestyle. However, if you only want to do one or the other, keep in mind that you should notify your customers of any changes. It is also beneficial to look at customer data to understand which form of communication works best for your audience.
In a time where consumers want to choose how they receive their communication, turn to Darwill for help. We offer our clients both options when it comes to sending statements and time-sensitive communications through printed material and digital.
1. Two Sides North America and Toluna, 2021
2. BroadbandNow, 2021
3. Kathy Rowzie, 2021