Statistics Show Meeting Customer Preferences Matter Now More Than Ever

22 Jul Statistics Show Meeting Customer Preferences Matter Now More Than Ever

In our previous post, Paper or Electronic Communications: We Keep the Options Open, we discussed the value of keeping your options open when communicating with customers via digital and print channels. Even people who opt for paperless billing want the option of switching to print. Moreover, paper communications are often the main point of contact between a business and an individual because people are more likely to open and read printed communications.

A few years ago, digital transformation had marketing experts predicting the decline of print as a favored communication channel. If a recent survey by Keypoint Intelligence is any indication, reports of print’s demise have been greatly exaggerated. Data from Keypoint’s Annual State of Transactional Communications survey revealed a 5% decline in the percentage of consumers who access their communications electronically from 2017-2019. This decline includes the coveted 18-34 demographic, which surprisingly saw steeper decreases than other groups, from 58% of consumers who accessed their communications electronically in 2017 to 53% in 2019.

So, what’s behind these statistics? The biggest culprit appears to be channel fatigue, which refers to the overwhelm consumers feel when faced with the large volume of communications they receive. Closely related to channel fatigue is channel fog, which refers to the difficulty consumers experience when selecting a channel for receiving communications.

Rather than abandoning print or digital, Keypoint Intelligence recommends incorporating both into an omnichannel strategy. The other big takeaway (which supports what we have been saying) is to deliver communications to customers in their preferred channel. Businesses that fail to honor customer preferences can pay a steep price in terms of lost business, with 64% of consumers tracing their decision to switch brands to a bad experience.

Whether you are looking to cut postage and printing costs with e-delivery or launch an integrated campaign that includes both print and electronic communications, DATAMATX offers some big advantages. Our print solutions provide cost-effective color printing and help your business stay on brand by incorporating messaging, product information, and logos into statements and other communications. We also offer convenient tracking options like IMB tracing and change of address updates via IntelliAddress and ACS that integrate seamlessly with USPS software.

For customers who prefer to receive their communications electronically, our e-delivery options allow your business to send emails with PDF attachments or links to your online portal where customers can complete transactions. Of course, we also offer mobile delivery and we’ll even facilitate e-presentment with third-party/partner sites and digital mailbox providers.

At DATAMATX, we believe that a truly omnichannel solution is the best way to attract and retain customers, even during the current pandemic when calls for paperless delivery and electronic payment options are on the rise. Not only will you help your customers cut through all that channel fog and fatigue, you will also establish yourself as a trusted provider of the goods and services consumers consider essential to their financial and emotional well-being.