Get the most out of every marketing opportunity and save costs!
While online billing enables you to reduce operational costs, it poses the problem of losing critical customer touch points. So, how can you maximise the impact of transactional messaging and reach your customers with targeted, personalized offers without using costly traditional paper inserts?
Lost marketing opportunities through online billing
Traditionally customers receive bill inserts or 'stuffers', incorporating promotional content, in the same envelope as their transactional paper bills and statements. Businesses generate a significant amount of revenue from customer retention and up-sell programs.
These transpromo marketing opportunities are often lost or ignored when a customer opts to view and pay their bill online.
Striata's electronic messaging solutions create new marketing opportunities
Striata's innovative electronic messaging solutions enable companies to market to customers who use online payment portals and self service kiosks to pay their bills.
Striata's technology addresses the promotional marketing challenges of online bill payment portals by turning simple, plain text transactional emails into revenue generating marketing channels.
Striata's email billing solution 'pushes' cross-sell and up-sell transpromo messages with each bill both within the email and the ebill attachment.
All commercial emails can be personalized according to customer demographics, business drivers and marketing criteria. Striata's advanced profiling engine enables clients to include important promotional offers based on demographic (age, gender), psychographic (income bracket, purchase activity) and usage information, such as current product and service usage, length of service and billing address, as well as customer enquiry behavior.
Transpromo messaging solutions are more effective!
- More cost efficient: Email marketing is significantly more cost effective than traditional paper bill stuffers.
- Activity can be tracked: Unlike paper based promotions, billers can accurately track detailed promotion activity. This type of detailed tracking and reporting facilitates intelligent, revenue-based marketing decisions, derived from measurable customer behavior.
- Targets captive audience: Customers paying online expect a payment confirmation email, so billers are ultimately targeting an expressly interested audience.
Striata serves some of the largest brands in the world
In addition to eBilling and Secure eDocument Delivery solutions, Striata provides payment confirmation and transpromo marketing services to some of the largest financial service companies in the world.
Integrating personalized, targeted marketing into payment confirmation emails is a perfect example of transpromotional marketing.
The GMAC and Striata Story: The perfect example of Transpromotional Marketing
- Case Study: Striata assisted GMAC Mortgage to effectively market their customer retention programs to customers who pay online. The challenge for GMAC Mortgage and subsidiaries like Ditech and Homecomings, was that it was difficult to reach customers who went 'paperless' with their highly profiled marketing initiatives. In order to address this issue, Striata implemented a sophisticated, customized transpromo messaging solution that collates customer payment confirmation data with profiling information, to generate tailored marketing offers. Thus effectively including the promotional material within the transactional communication.
- Before incorporating Striata's solutions, GMAC Mortgage was sending out plain-text payment confirmation emails, which simply provided a unique confirmation number each time a customer made an online payment. Today, with Striata's solution, GMAC Mortgage is now able to deliver hundreds of thousands of unique, applicable marketing offers each month, within these same commerce-based emails. Each customer who pays their bill online receives an HTML payment confirmation email with three personalized promotional offers, as well as helpful hints for effective mortgage or loan management.
- Every email also includes the name and contact information of the customer's loan officer - a subtle encouragement for customers to engage with their loan officers directly. In many cases, this has resulted in customer queries, previously channeled through the call center, being directed to the customer's personal loan officer. Not only does this reduce cost-to-serve in the contact center, but it also re-engages the loan officer, providing them with additional opportunities to up-sell to their customers.
Marketing best practices for transactional online bill payment
Transpromo Marketing - incorporating marketing offers within transactional emails - has proven to be an effective tool for many industries including insurance, cable and telecommunications, banks and lending services.
- To understand how to tap into this prime marketing real estate read this Blog: Transactional email: have you considered the opportunities?
- Need more info? Contact us or let us call you back