Customers are using social media to make decisions on what to buy and from who, often using social media to ask peers for options and recommendations. A rising number of utilities are integrating their traditional marketing communications with Facebook, Twitter, YouTube and Instagram, the top social networks in the US, because they are powerful engagement and retention tools.
Getting customers to go digital isn’t easy, but there are big benefits beyond saving money on postage and fulfillment. Fast processing and timely alerts decrease the likelihood of late payments, fees, and credit-score hits. Furthermore, customers are willing to switch: Fiserv’s billing survey discovered that more than half of participants were open to converting paper bills to e-bills given the proper motivation.
Rewards can keep utility customers satisfied and engaged with your brand in both regulated and deregulated markets. They can also persuade customers to save energy — and money — in the process.
