Four important internet trends for e-billers
Digital changed everything about billing. New apps, new devices, even new currencies. Now, everyone and everything is connected. Even as the pace of change quickens, customers expect you to keep pace.
- Today, there are more than three billion people online.
- Mobile data now accounts for a quarter of all Internet traffic.
- More than two-thirds of online adults use social media sites.
- More than $8 trillion in e-commerce transactions take place each year.
- People make more than 11 billion Google searches every month.
- They share almost two billion photos each day.
- They also connect to thermostats, TVs, cars, wearable technology and medical devices.
As an e-biller, where should you focus your efforts?
We’ve compiled the ten trends that will have the biggest impact on your business. See how others are taking steps to stay ahead of the curve.
1. Get closer.
It’s no longer enough to know what your customers are doing. You need to understand why they are doing it. That’s the only way you can build trust, earn loyalty and develop lasting, profitable relationships.
Take advantage of today’s data-mining and analytical tools. Combine information on customer behavior with predictive analytics. Organize and interpret the deluge of data from transactions, social media and big data. Then, make accurate predictions about customer behavior. When you add predictive analytics to your billing platform, you can engage each customer with fresh, personalized online experiences.
2. Think mobile.
Across the developing world, wires and cables carrying Internet connectivity don’t often reach individual homes. Mobile broadband connections have skyrocketed instead.
Now, at more than two billion, mobile outnumbers fixed-line connections by close to three-to-one. And, in countries as far-flung as Hungary and Indonesia, 4G broadband provides near-gigabit speeds on mobile phones.
High-speed wireless networks and smart phones will let you provide online customer care in some of the most unexpected places. Your e-billing strategy needs to include a mobile strategy for delivering on-the-go services for smaller screens.
3. Protect your data.
Do you know where your data is? Data security and privacy are now hot-button issues. Hacking activity is on the rise. New threats keep coming from unexpected sources. You’ll need to very careful about where you store your valuable customer information, especially with the recent revelations about government surveillance activities.
Many companies have moved their data and applications to the cloud to increase efficiency and reduce costs. Yet, while cloud computing continues to grow, businesses remain understandably wary. Many are demanding the ability to control where their data is hosted, and you should consider this, too.
4. Go green.
E-billing and e-payment will become the norm, even among companies that have never offered an online solution before.
Many organizations turn to green initiatives to help increase efficiencies and reduce costs. With well-planned e-billing, e-payment and online customer care programs, you may be able to generate substantial savings. Plus, you’ll do good by the environment.
You don’t have to build it yourself. SaaS (Software as a Service) based e-billing eases the process of moving from print to online.
For six more trends for e-billers we invite you to read our full white paper, now.
You may also like
Think about some of the benefits of deploying address verification software. Your business will be able to deliver customers more tailored, localized offers, accelerate sales and adoption, lower costs of customer service, and improve customer satisfaction.Learn More
Those businesses who adopt advanced address normalization, data quality and governance strategies, will see results that help them establish a stronger reputation and solidify their customer experience.Learn More