However , more than one-third ( 37 %) say they are changing the service provider and not using them again , while around the same number ( 36 %) say they are avoiding direct contact with this service provider .
Having a glimpse into how consumers prioritize bill payment enables service providers to help their customers avoid decision fatigue and make decisions that are in their best interest .
... IT ’ S TIME FOR CSPs TO ALIGN THEIR ENGAGEMENT STRATEGIES WITH INDIVIDUAL CUSTOMERS ’ PREFERENCES AND MOTIVATIONS .
HOW CSPs CAN HELP
What can service providers do to help customers make positive decisions that improve their lives ? The overarching takeaway is that customer engagement needs to reflect an understanding of their challenges .
Ultimately , it ’ s time for CSPs to align their engagement strategies with individual customers ’ preferences and motivations . This is where behavioral science can play an important role . As the science of decision-making , behavioral science allows them to deeply understand , empathize , and motivate their customers toward a mutually beneficial outcome .
CLARITY AND PRACTICALITY
Let ’ s start with some practical requests , straight from consumers . Amid the costof-living crisis , the top three things consumers told us they need from a service provider to help them more easily and confidently manage their bill payments are :
• Information on flexible payment options available ( 59 %).
• Knowledge of financial assistance programs available in their area ( 49 %).
• The option to speak to a real person if needed ( 48 %).
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COMMUNICATIONS SERVICE PROVIDERS
Others include clear explanations of charges or reasons for a bill , clarity on next steps or actions required , self-serve options , and earlier or timelier reminders .
While these efforts can be costly , they offer CSPs a unique opportunity to stand out from competitors , and better support their customers with their preferred digital approach . CSPs can also benefit from greater adoption of digital communication , reduced call support volume and costs with decreased bad debt , and improved customer affinity and lifetime value .
PERSONALIZE , PERSONALIZE , PERSONALIZE
Every communication , interaction , and solution should be tailored to reflect individuals ’ needs . In fact , consumers especially value personalized service when they ’ re behind on bill payments . The report finds 60 % like having the flexibility to choose how they want to manage their outstanding balance , while more than half ( 54 %) value solutions that fit their specific needs . Further , more than half ( 52 %) say personalized service makes them feel like a valued customer .
VOLUME , FREQUENCY , AND CHANNEL
Think long and hard about the volume , frequency , and channel with which you engage each customer . Even well-meaning communications seeking to provide help and guidance can add to digital fatigue . Indeed , more than one-third ( 34 %) of those consumers behind in their bills say they will leave a service provider if they receive too many messages or phone calls .
TONE AND TIMELINESS
Unnecessary urgency that ramps up pressure on customers is an instant turn-off too : eroding trust and negating any professions of empathy .
Similarly , take note of how your message is crafted : any perceived aggression or lack of authenticity will undermine customer relationships and prevent win-win engagements . It ’ s worth noting that 82 % of consumers say that if they are behind on bills , they are more likely to respond to positive , supportive communications than threats to have their service cut .
TO ENSURE YOUR ENGAGEMENT EVOLVES WITH YOUR CUSTOMERS , IMPLEMENT STRATEGIES WITH BAKED-IN ADAPTABILITY .
THE NEED FOR ADAPTABLE ENGAGEMENT
Here ’ s a crucial final point . People ’ s lives , personalities , priorities , and circumstances constantly evolve . So do their reactions and general behaviors . To ensure your engagement evolves with your customers , implement strategies with baked-in adaptability .
This requires ever-changing insights into how customers are making decisions and what is motivating them . That ’ s why increasing numbers of customer-first organizations are using behavioral science to shape and drive engagements . Those leveraging it in the right way are delivering highly empathetic , personalized communications .
The period of turbulence we are living through may not yet be over . But mindfulness , authentic empathy , and adaptation to customer requirements can build trust , promote positive decision-making , and reinforce customer relationships : regardless of the environment .
Tiffany is the Co-Founder and Chief Impact Officer at Symend where she has been critical in building Symend ' s vision of improving customer experiences and business outcomes . She is a domain expert in data-driven consumer engagement . Today , she is focused on building social impact , ESG , CSR , as well as Symend ’ s purpose-driven behavior and strategy that serves its people , community , clients and end-customers .