Creating stronger customer connections and interactions in times that matter most.
Communication CX Insights and Implications
DOWNLOAD THE FULL REPORT
Customer experience (CX) matters more than ever in times of uncertainty. This second annual research study captures how customers feel about the communications they receive and how you can deliver with authenticity and relevancy.
SCROLL
DOWN
Great customer service
52%
Easy to navigate my account online
48%
Communicates clearly
46%
Sends me notifications when there’s something important
42%
Allows me to select how I want to receive communications
41%
Service
Communications
Top 5 attributes of companies that deliver exemplary CX
Service is important. But customers mostly rate your CX based on your communications—a fact that holds true across age, gender, income level and education.
CX and communications:
Linked in critical ways
20%
Automatic enrollment in paperless communications
37%
Transparency around data usage
45%
Human interaction
49%
Fewest steps to get enrolled
49%
Helpful information to get me started
63%
Clear communications
Onboarding is a crucial step in the customer journey, and clear communications top the list of CX must-haves.
Enrollment: Most important CX attributes
From the moment you appear on a prospect’s radar, you’re being judged on the experiences you provide. Communication CX can make or break a new customer relationship, impacting the strength and profitability of that relationship over time.
Make a great first impression
of consumers were asked to go paperless
Only
71%
11%
asked after first month
19%
asked during first month
29%
never asked
40%
asked at signup
Only 71 percent of consumers report being asked to go paperless, and only 40 percent were asked to do so at signup (the balance were asked later)*.
Missed opportunities
Many consumers prefer digital communications. In fact, 6 of 10 agree to go paperless with their newest providers. You can save on postage and paper costs by capitalizing on customer preferences. But first, you need to ask.
Drive to digital from the start
69
%
69% see room for improvement in their printed statements
51
%
51% expect printed communications to remain vital or important for five years or more
45
%
45% prefer to receive communications by mail
Many consumers still want hard copies.
Paper persists
There’s a risk in focusing exclusively on digital, despite its momentum. Many consumers still prefer print delivery of at least some of their communications—and will value them for years to come.
Ignore print at your own peril
19
%
Boomers
43
%
Gen X
54
%
Millennials
56
%
I would go paperless if my providers just sent me a postcard reminder about my statements and bills.
QR codes are most popular with younger consumers—and those that use them often wish they could use them more.
Many consumers use their printed bills as a reminder to view their statement or pay their bill online. Postcards cost less to print and mail and can serve the same purpose.
Print innovations drive digital interactions
Consider your communications holistically, then strategize on the impact to each channel. For example, you may be able to leverage print to help consumers overcome objections to digital—while using digital to reduce the volumes of paper that paper lovers would otherwise receive.
Print and digital: Better together
84
%
Support regulations that make it easier for them to control the personal data they share with companies
45
%
Would be willing to share personal data if it enhanced the CX a company could provide them
Control and CX
Consumers support legislation that helps them protect and control their data. Regulations such as the California Consumer Privacy Act (CCPA) provide strict guidelines for usage and handling of information.
Yet, consumers also want personalized experiences. Many are willing to share more of their data if they perceive a value in doing so.
Strike the right data balance
of investors want more frequent, personalized summaries of performance, activities and recommendations
59
%
Investment/retirement funds summary statements
of consumers want to be able to manage bills by text
50
%+
Billing text messages
of consumers would like document delivery direct to their personal cloud services
40
%
Document cloud storage
Here are some innovations consumers want now
Emerging technologies, such as Conversational AI, are propelling communications to the next level. As you prepare for new advances, there are communication CX enhancements you can make today.
Go to the next level
ABOUT THIS STUDY: Broadridge commissioned Engine to conduct this CARAVAN Omnibus Survey. The 45-question survey was administered between November 6-13, 2019, to 3,006 U.S. and Canadian residents aged 25 and older. The U.S. data was weighted to age, gender, region, race and education. The Canadian data was weighted to age, gender and region. The figures are statistically significant at the 95 percent confidence level with a margin of error of ±2 percentage points. This study is for informational purposes only and does not, and is not intended to, constitute investment, legal or any other advice of any kind.
A proactive audit of your communications can help ensure they are relevant and appropriate to the current context and moment.
INSIGHT: It’s time to take stock
It pays to be clear: 72% of customers call customer service when they have a question about a bill or statement, at significant cost to the provider.
Consumers want information that’s quick to read, easy to understand and focused on the things that matter. “Clarity” is a combination of these ingredients, calibrated for each communication.
INSIGHT: What it means to be clear
• Utilize any print and digital options (e.g., web, text, email)
• Select their own optimal mix of paper or paperless by document type
• Move quickly and seamlessly shifting between physical and digital channels
• Control the use of their data throughout
Asking is only part of a successful drive to digital. You also must be equipped to execute. Preference management solutions can connect customer information across disparate, siloed systems. They can help you to optimize CX across channels, empowering customers to:
INSIGHT: Put your digital foot forward
One consumer finance company upgraded their email design, increasing open rates by 65 percent and click-thru rates by over 90 percent.
Digital: Consumers want the same improvements to their digital documents. Be sure to optimize design for the digital channel you’re using.
Print: Consumers would like to see printed bills and statements include information summaries, cleaner layouts and clearer content.
Consider how you can improve both your physical and digital communications.
INSIGHT: Strike a balance
Send a postcard reminder to take action rather than the full statement. Include a QR code so the customer can easily view the full statement on their phone. When customers opt-in to these new formats, your paper costs will decrease while keeping paper-loving customers satisfied.
INSIGHT: Imagine a more efficient use of paper
“Personal data” can mean many things—from shopping behavior to social security numbers. Be clear about the data you need, how you’ll manage it and how you’ll use that data to improve the customer’s experience. One example: Instead of simply asking for a phone number, indicate that you want consent to send account reminders and alerts to their mobile number.
Sometimes you can gather all you need from the onset of the relationship. Other times, it’s most effective to start with less, then ask for additional pieces of information along the way. In any case, be thoughtful in how you use the data you receive, considering how it figures into your overall CX.
INSIGHT: Define your terms – and handle with care
SOLUTIONS & PRODUCTS INSIGHTS ABOUT US CLIENT SUPPORT | TALK TO US
BR (NYSE) 117.6 -0.24
Creating stronger customer connections and interactions in times that matter most.
Communication CX Insights and Implications
DOWNLOAD THE FULL REPORT
Customer experience (CX) matters more than ever in times of uncertainty. This second annual research study captures how customers feel about the communications they receive and how you can deliver with authenticity and relevancy.
SCROLL
DOWN
Top 5 attributes of companies that deliver exemplary CX
Service is important. But customers mostly rate your CX based on your communications—a fact that holds true across age, gender, income level and education.
CX and communications:
Linked in critical ways
Onboarding is a crucial step in the customer journey, and clear communications top the list of CX must-haves.
Enrollment: Most important CX attributes
From the moment you appear on a prospect’s radar, you’re being judged on the experiences you provide. Communication CX can make or break a new customer relationship, impacting the strength and profitability of that relationship over time.
Make a great first impression
Only 71 percent of consumers report being asked to go paperless, and only 40 percent were asked to do so at signup (the balance were asked later)*.
Missed opportunities
Many consumers prefer digital communications. In fact, 6 of 10 agree to go paperless with their newest providers. You can save on postage and paper costs by capitalizing on customer preferences. But first, you need to ask.
Drive to digital from the start
69
%
69% see room for improvement in their printed statements
51
%
51% expect printed communications to remain vital or important for five years or more
45
%
45% prefer to receive communications by mail
Many consumers still want hard copies.
Paper persists
There’s a risk in focusing exclusively on digital, despite its momentum. Many consumers still prefer print delivery of at least some of their communications—and will value them for years to come.
Ignore print at your own peril
QR codes are most popular with younger consumers—and those that use them often wish they could use them more.
Many consumers use their printed bills as a reminder to view their statement or pay their bill online. Postcards cost less to print and mail and can serve the same purpose.
Print innovations drive digital interactions
Consider your communications holistically, then strategize on the impact to each channel. For example, you may be able to leverage print to help consumers overcome objections to digital—while using digital to reduce the volumes of paper that paper lovers would otherwise receive.
Print and digital: Better together
84
%
Support regulations that make it easier for them to control the personal data they share with companies
45
%
Would be willing to share personal data if it enhanced the CX a company could provide them
Control and CX
Consumers support legislation that helps them protect and control their data. Regulations such as the California Consumer Privacy Act (CCPA) provide strict guidelines for usage and handling of information.
Yet, consumers also want personalized experiences. Many are willing to share more of their data if they perceive a value in doing so.
Strike the right data balance
INSIGHT: It’s time to take stock
It pays to be clear: 72% of customers call customer service when they have a question about a bill or statement, at significant cost to the provider.
Consumers want information that’s quick to read, easy to understand and focused on the things that matter. “Clarity” is a combination of these ingredients, calibrated for each communication.
INSIGHT: What it means to be clear
• Utilize any print and digital options (e.g., web, text, email)
• Select their own optimal mix of paper or paperless by document type
• Move quickly and seamlessly shifting between physical and digital channels
• Control the use of their data throughout
Asking is only part of a successful drive to digital. You also must be equipped to execute. Preference management solutions can connect customer information across disparate, siloed systems. They can help you to optimize CX across channels, empowering customers to:
INSIGHT: Put your digital foot forward
One consumer finance company upgraded their email design, increasing open rates by 65 percent and click-thru rates by over 90 percent.
Digital: Consumers want the same improvements to their digital documents. Be sure to optimize design for the digital channel you’re using.
Print: Consumers would like to see printed bills and statements include information summaries, cleaner layouts and clearer content.
Consider how you can improve both your physical and digital communications.
INSIGHT: Strike a balance
Send a postcard reminder to take action rather than the full statement. Include a QR code so the customer can easily view the full statement on their phone. When customers opt-in to these new formats, your paper costs will decrease while keeping paper-loving customers satisfied.
INSIGHT: Imagine a more efficient use of paper
“Personal data” can mean many things—from shopping behavior to social security numbers. Be clear about the data you need, how you’ll manage it and how you’ll use that data to improve the customer’s experience. One example: Instead of simply asking for a phone number, indicate that you want consent to send account reminders and alerts to their mobile number.
Sometimes you can gather all you need from the onset of the relationship. Other times, it’s most effective to start with less, then ask for additional pieces of information along the way. In any case, be thoughtful in how you use the data you receive, considering how it figures into your overall CX.
INSIGHT: Define your terms – and handle with care
SOLUTIONS & PRODUCTS INSIGHTS ABOUT US CLIENT SUPPORT | TALK TO US
BR (NYSE) 117.6 -0.24
Creating stronger customer connections and interactions in times that matter most.
Communication CX Insights and Implications
DOWNLOAD THE FULL REPORT
Customer experience (CX) matters more than ever in times of uncertainty. This second annual research study captures how customers feel about the communications they receive and how you can deliver with authenticity and relevancy.
SCROLL
DOWN
Great customer service
52%
Easy to navigate my account online
48%
Communicates clearly
46%
Sends me notifications when there’s something important
42%
Allows me to select how I want to receive communications
41%
Service
Communications
Top 5 attributes of companies that deliver exemplary CX
Service is important. But customers mostly rate your CX based on your communications—a fact that holds true across age, gender, income level and education.
CX and communications:
Linked in critical ways
20%
Automatic enrollment in paperless communications
37%
Transparency around data usage
45%
Human interaction
49%
Fewest steps to get enrolled
49%
Helpful information to get me started
63%
Clear communications
Onboarding is a crucial step in the customer journey, and clear communications top the list of CX must-haves.
Enrollment: Most important CX attributes
From the moment you appear on a prospect’s radar, you’re being judged on the experiences you provide. Communication CX can make or break a new customer relationship, impacting the strength and profitability of that relationship over time.
Make a great first impression
Only 71 percent of consumers report being asked to go paperless, and only 40 percent were asked to do so at signup (the balance were asked later)*.
Missed opportunities
Many consumers prefer digital communications. In fact, 6 of 10 agree to go paperless with their newest providers. You can save on postage and paper costs by capitalizing on customer preferences. But first, you need to ask.
Drive to digital from the start
69
%
69% see room for improvement in their printed statements
51
%
51% expect printed communications to remain vital or important for five years or more
45
%
45% prefer to receive communications by mail
Many consumers still want hard copies.
Paper persists
There’s a risk in focusing exclusively on digital, despite its momentum. Many consumers still prefer print delivery of at least some of their communications—and will value them for years to come.
Ignore print at your own peril
19
%
Boomers
43
%
Gen X
54
%
Millennials
56
%
I would go paperless if my providers just sent me a postcard reminder about my statements and bills.
QR codes are most popular with younger consumers—and those that use them often wish they could use them more.
Many consumers use their printed bills as a reminder to view their statement or pay their bill online. Postcards cost less to print and mail and can serve the same purpose.
Print innovations drive digital interactions
Consider your communications holistically, then strategize on the impact to each channel. For example, you may be able to leverage print to help consumers overcome objections to digital—while using digital to reduce the volumes of paper that paper lovers would otherwise receive.
Print and digital: Better together
45
%
Would be willing to share personal data if it enhanced the CX a company could provide them
84
%
Support regulations that make it easier for them to control the personal data they share with companies
Control and CX
Consumers support legislation that helps them protect and control their data. Regulations such as the California Consumer Privacy Act (CCPA) provide strict guidelines for usage and handling of information.
Yet, consumers also want personalized experiences. Many are willing to share more of their data if they perceive a value in doing so.
Strike the right data balance
of investors want more frequent, personalized summaries of performance, activities and recommendations
59
%
Investment/retirement funds summary statements
of consumers want to be able to manage bills by text
50
%+
Billing text messages
of consumers would like document delivery direct to their personal cloud services
40
%
Document cloud storage
Here are some innovations consumers want now
Emerging technologies, such as Conversational AI, are propelling communications to the next level. As you prepare for new advances, there are communication CX enhancements you can make today.
Go to the next level
ABOUT THIS STUDY: Broadridge commissioned Engine to conduct this CARAVAN Omnibus Survey. The 45-question survey was administered between November 6-13, 2019, to 3,006 U.S. and Canadian residents aged 25 and older. The U.S. data was weighted to age, gender, region, race and education. The Canadian data was weighted to age, gender and region. The figures are statistically significant at the 95 percent confidence level with a margin of error of ±2 percentage points. This study is for informational purposes only and does not, and is not intended to, constitute investment, legal or any other advice of any kind.
INSIGHT: It’s time to take stock
It pays to be clear: 72% of customers call customer service when they have a question about a bill or statement, at significant cost to the provider.
Consumers want information that’s quick to read, easy to understand and focused on the things that matter. “Clarity” is a combination of these ingredients, calibrated for each communication.
INSIGHT: What it means to be clear
•
Asking is only part of a successful drive to digital. You also must be equipped to execute. Preference management solutions can connect customer information across disparate, siloed systems. They can help you to optimize CX across channels, empowering customers to:
INSIGHT: Put your digital foot forward
One consumer finance company upgraded their email design, increasing open rates by 65 percent and click-thru rates by over 90 percent.
Digital: Consumers want the same improvements to their digital documents. Be sure to optimize design for the digital channel you’re using.
Print: Consumers would like to see printed bills and statements include information summaries, cleaner layouts and clearer content.
Consider how you can improve both your physical and digital communications.
INSIGHT: Strike a balance
Send a postcard reminder to take action rather than the full statement. Include a QR code so the customer can easily view the full statement on their phone. When customers opt-in to these new formats, your paper costs will decrease while keeping paper-loving customers satisfied.
INSIGHT: Imagine a more efficient use of paper
“Personal data” can mean many things—from shopping behavior to social security numbers. Be clear about the data you need, how you’ll manage it and how you’ll use that data to improve the customer’s experience. One example: Instead of simply asking for a phone number, indicate that you want consent to send account reminders and alerts to their mobile number.
Sometimes you can gather all you need from the onset of the relationship. Other times, it’s most effective to start with less, then ask for additional pieces of information along the way. In any case, be thoughtful in how you use the data you receive, considering how it figures into your overall CX.
INSIGHT: Define your terms – and handle with care
TALK TO US
of consumers were asked to go paperless
Only
71%
11%
asked after first month
19%
asked during first month
29%
never asked
40%
asked at signup
•
Proactively communicate with customers and emphasize how you can help meet their needs
Deliver the most important information to each customer segment on their preferred channel
Deploy feedback mechanisms so you can capture customer sentiment
Listen to your customers and stakeholders, incorporating their feedback so you can enhance your communication performance and CX
Along the way, you may uncover technology or process hurdles that are keeping you from optimizing your communication CX. Weigh the benefits that technology and workflow changes can bring.
•
•
•
Utilize any print and digital options (e.g., web, text, email)
•
Select their own optimal mix of paper or paperless by document type
•
Move quickly and seamlessly shifting between physical and digital channels
•
Control the use of their data throughout
Turn to Broadridge for support of your communications – the ones that are significant to your customers. We help our clients deliver six billion data-driven, customer-centric communications annually. From proven technology and workflows to support for cutting-edge omnichannel communication innovations, we’ll help you execute with authenticity and relevancy in the times that matter most.
Partner with a proven leader
Turn to Broadridge for support of your communications – the ones that are significant to your customers. We help our clients deliver six billion data-driven, customer-centric communications annually. From proven technology and workflows to support for cutting-edge omnichannel communication innovations, we’ll help you execute with authenticity and relevancy in the times that matter most.
Partner with a proven leader
Turn to Broadridge for support of your communications – the ones that are significant to your customers. We help our clients deliver six billion data-driven, customer-centric communications annually. From proven technology and workflows to support for cutting-edge omnichannel communication innovations, we’ll help you execute with authenticity and relevancy in the times that matter most.
Partner with a proven leader
DOWNLOAD THE FULL REPORT