Remember the hype that surrounded e-billing a few years ago? The promises of ease of integration, the quick return on investment, the amazing possibilities for cross selling and ‘upselling’, and how your customers will love you, and be happy that all their bills, and all their information, and all the special offers will be but a click away. Remember?
Well, the news just in is that it seems to doing all of these things.
It took longer than the vendors and consultants and the pundits thought it would – which is, of course, a grievous shock. But evidence suggests that e-billing really is coming of age.
Large telecoms operators now count customers who review their bills on-line in the millions. Energy companies report encouraging trends such as 7% of sales revenue now coming from the web, with a target of making that 10% then 20% in the not-so-distant future. One large energy company has used the web to diversify; now they ‘manage’ all your household needs from their site, and they are getting 2,000-3,000 registrations per day.
Lessons learned? Never underestimate the scalability that you will need; slow web pages are the biggest turn off; test and test again before going live (put your billing on the web and you put your business in a goldfish bowl). And, of course, make sure that your web strategy is only a part of your overall customer contact strategy. A large telco increased the conversion rate on web sales of high value products by 45%, simply by putting a button that said ‘call me’ next to the high value item! The CSRs called within five minutes, striking while the iron was hot, and thus achieved the huge increase in conversion rates.
The GBA, the new-look GBA, continues to watch issues and trends such as e-billing, regulation and system selection across industries, to provide its members with a broader view, deeper insights and practical strategies that can be used to make the wonderful world of billing a better place.