Interacting with customers in the "New Now"
LET’S TALK
How is the COVID-19 pandemic changing the way companies and customers communicate? And what can we learn from it?
That’s what we wanted to find out, so we conducted multiple rounds of consumer research and in-depth company interviews, starting in April 2020.
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3 New Communication Priorities: What we heard from companies
The “new now” is requiring companies and consumers to shift priorities and try new things.
Our world has changed
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First-time communication experiences:
What we heard from consumers
Consumers are communicating with their providers in new ways, resulting in mixed reactions.
36% Made an online payment
24% Accessed a bill or statement online
23% Deposited a check via a mobile app
21% Downloaded their provider’s mobile app
19% Had a virtual meeting
“Weird at first, but I have to admit it was less stressful.”
“It was a bit buggy.”
“Frustrating, but I figured it out eventually.”
“It was empowering actually and easier than I anticipated so I will do more of it.”
“At first I faced some problems, but now I'm very confident to use those apps and services.”
1. Adjusting to the new environment
2. Executing business plans
3. Providing human connection
1. Adjusting to the new environment
2. Executing business plans
3. Providing human connection
1. Adjusting to the new environment
Accelerating digital initiatives
Working from home and maintaining communication
Modifying in-person client interactions and access to facilities
1. Adjusting to the new environment
Implementing business continuity plans
Adjusting processes and communicating those changes
“We practiced a business continuity plan yearly. We were well prepared for site-specific changes, but we were not prepared for the entire world to be down at once.”
2. Executing business plans
Re-enforcing client relationships
Increasing use of video conferencing
“In times of crisis, the human element comes first. Relationships are even more important.”
3. Providing human connection
While COVID-19 is impacting consumer communication preferences and company initiatives, here are three actions companies can take today.
Conclusion
3 KEY TAKEAWAYS FROM THE RESEARCH:
The alignment of cost pressures and the necessity for digital communications are shifting company priorities and creating a window of opportunity.
Consumers are communicating in new ways—some for the first time—and companies can engage and retain them in digital channels.
Consumers are asking for communications tailored to their distinct and unique needs.
Prioritize your digital initiatives. The pandemic is forcing many companies to accelerate their print-to-digital transformations. At the same time, customers are more open to going digital, but your capabilities must deliver a convenient, engaging experience. Your digital opportunity is here and now.
Understand your customers. Form a complete customer view by making it easier to capture channel and content preferences, measure actions and behaviors, and collect feedback.
Deliver omni-channel communications with an end-to-end platform. The Broadridge Communications Cloud is a data-driven communications platform for creating, delivering, and managing omni-channel communications and customer engagement. The flexible, modular solution includes:
Consumers are engaging in new digital ways and companies are overcoming digital inertia.
Temporary meets permanent
Now is the Time for Digital: What we heard from consumers
Before COVID-19
Before the impact of COVID-19, how often did you choose to “go paperless” with your providers?
26%
Always
13%
Never
35%
Always
12%
Never
Now that you are in the middle of COVID-19, how often would you choose to “go paperless?”
NOW
There are still consumers who refuse to give up paper, but it’s the consumers that are in between the two extremes of “always” and “never” that are increasingly open to going digital.
“The big focus, which remains unchanged, is a focus on digital and automation.”
“Increase in online interactions is inevitable because people who were resistant before have been forced into it and it will be less daunting.”
"We believe the best customer experience is paperless and digital."
Now is the Time for Digital: What we heard from companies
Consumers expect the new ways of communicating will continue. Companies agree.
Different interactions
59% of consumers think the pandemic will change how they interact with companies for the long-term.
Our world has changed
Temporary meets permanent
Different interactions
Returning to normal
One message for better experiences
Conclusion
New Rules of Engagement: What we heard from consumers
Knowing interactions are changing as a result of the pandemic, we wanted to find out who is driving that change—consumers or companies. Respondents who strongly agree that communications are fundamentally changing tend to think companies are currently dictating that change, but these views are fluctuating with each survey cycle.
I expect that COVID-19 will fundamentally change how companies choose to communicate and engage with me in the future.
I expect that COVID-19 will fundamentally change how I choose to communicate and engage with the companies I do business with in the future.
4/6 - 4/8
4/19 - 4/21
5/3 - 5/5
5/17 - 5/19
5/29 - 6/1
6/14 - 6/16
Most impacted provider relationships
1
Least impacted provider relationships
“Our advisors need video and digital capabilities. It is no longer a nice to have.”
“We added an online account opening process. That was never an option before.”
“We’re trying to balance the optimal combination of channels to support the clients I have, but optimize for the clients I want.”
New Rules of Engagement: What we heard from companies
40%
35%
30%
25%
20%
15%
10%
5%
0%
Just over half of consumers think life will return to normal in six months or less, but each survey cycle captures a growing number of consumers who think it could take more than a year.
Returning to normal
Anticipating the Return of Normal: What we heard from consumers
8%
< 1 month
21%
1-3 months
25%
4-6 months
19%
7-12 months
27%
1 year +
Anticipating the Return of Normal: What we heard from companies
“This is an opportunity for us to show what we can do for our customers. If you do a good job during this, you've gained a customer.
“The new business as usual will be different from the old business as usual.”
“We're all trying to figure out how to return to some normal place.”
When it comes to the communications they receive from companies, consumers know what they want.
One message for better experiences
HOW Companies CHOOSE
How I choose
Creating More Value from Communications: What we heard from consumers
41%
33%
29%
27%
22%
20%
More simple and intuitive
Control of their communication preferences
More personalized
Control of frequency
More engaging
Push the content to them, rather than them having to hunt it down
3 Ways to Improve Communications:
What we heard from consumers
1. Be More Human
2. Provide a Balance
3. Expand Functionality
1. Be More Human
2. Provide a Balance
3. Expand Functionality
3. Expand Functionality
2. Provide a Balance
1. Be More Human
“A company who reaches out to its customers, patients or clients shows it cares about the person – not just the bottom line.”
1. Be More Human
“Less email about the coronavirus. We are aware of it at this point.”
“Continue to show compassion.”
“More emails or text messages.”
“Ask me how I prefer to be contacted and the frequency of the communications.”
“I prefer to get a paper bill.”
“Please make more documents available online.”
“Leverage virtual meetings and online chats as much as possible.”
“Stay digital and have more staff on the phones.”
“Don’t require actual paper documents.Virtual signatures [are] good enough.”
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2
3
Contact us to find out how we can help execute your print-to-digital strategies in today’s environment.
About the Survey
Communicating in the “New Now”, Survey Cycles of 4/6/2020 - 6/30/2020 n = 2,313 consumers
Consumer Surveys:
• Surveyed an average of 325 consumers every two weeks since the beginning of April 2020.
• Respondents are based in the U.S., and demographics are diversified by age, gender, household income, and employment status.
Company Interviews:
• Interviewed 20+ companies in April and May of 2020.
• Insights gathered have been anonymized and aggregated.
• Interviewee demographics are varied by industry, job title, and company size to promote diversity of sample and insight.
“A company who reaches out to its customers, patients or clients shows it cares about the person – not just the bottom line.”
“Less email about the coronavirus. We are aware of it at this point.”
“Continue to show compassion.”
1
2
3
2
3
4
1
2
“I’m not using my credit card unless it is an emergency.”
“Use their websites or (in the case of doctors) patient portals more.”
“Request telehealth visit before in-office visit.”
“I have made deposits at my bank's ATM rather than with a teller.”
4. Credit Cards
3. Health Insurance
2. Healthcare
1. Banking
2. Utilities
1. Telecommunications
“I already interacted via mobile app or online.”
“Already have no face-to-face contact with them.”
4
3
2
1
2
1
6/28 - 6/30
Survey dates
• Composition (self-service and managed service)
• Identity and Preference Management
• Information Management
• Omni-channel Customer Experience and Delivery
• Analytics and Reporting
Accelerating digital initiatives
Working from home and maintaining communication
Modifying in-person client interactions and access to facilities
“There’s a lot more focus on digital. Digital continues to be important; it always was, but now digital is really, really important and we’re shifting budgets.”
“There’s a lot more focus on digital. Digital continues to be important; it always was, but now digital is really, really important and we’re shifting budgets.”
SM
1
“There’s a lot more focus on digital. Digital continues to be important; it always was, but now digital is really, really important and we’re shifting budgets.”
1
1
1
2
2
2
3
3
3
Adjusting to the new environment
Accelerating digital initiatives
Working from home and maintaining communication
Modifying in-person client interactions and access to facilities
Adjusting to the new environment
Executing business plans
Providing human connection
“A company who reaches out to its customers, patients or clients shows it cares about the person – not just the bottom line.”
“Less email about the coronavirus. We are aware of it at this point.”
“Continue to show compassion.”
1
1
1
2
2
2
3
3
3
Be More Human
Be More Human
Provide a Balance
Expand Functionality
1. Be More Human
1. Be More Human