Independent research claims that more than three-quarters of retail banking customers still prefer to access statements online AND have them sent through the post[i].
So much for the paperless revolution!
For companies concerned at the cost of producing, mailing and managing paper, this might seem like very bad news indeed. However, lines between ‘paper is bad’ and ‘digital is good’ are becoming increasingly blurred.
The importance of customer choice
Choice is the key component in any effective customer experience (CX) strategy ― letting customers choose how and when to receive communications from an intelligent blend of channels that suits their lifestyle.
To that end, paper remains a valued channel when deployed in the right way. But that doesn’t mean we should give up on trying to reduce it ― there is still too much waste, duplication and inefficient processes.
Reducing paper ― where to start?
The first step is to take a holistic approach to inbound and outbound communications.
Why? Because inbound and outbound processes are valuable diagnostic tools to understand who is using mail and why.
With further analysis and insight, organisations today can better understand what information the customer needs, what responses are required, and provide the most effective channels, processes and technologies to make it all happen.
In other words, to use paper to reduce paper.
[i] Keep Me Posted, Paper and Digital Communications: the case for customer choice, August 2013