3 PRACTICES FOR ACHIEVING YOUR HIGHEST ELECTRONIC ADOPTION RATES

Despite their increased amount of online activity, consumers have been slow to turn off paper statements and fully convert to electronic delivery. Two factors contributing to this trend are:

• Print Default- In general, print is the default delivery platform customers select when creating an account with their financial institute or service provider. Converting to electronic documents requires that they physically change a setting.
• Ease of Accessibility– Print Documents are delivered right to the customer’s mailbox at the same time every month, requiring no additional effort from the recipient.

In general, customers have a tendency to crave the ability to do something to benefit the environment, and  e-adoption provides a great way for people to get involved in the green movement. The two factors above, though they seem to make print statements an easier option, are easily mimicked on an electronic platform.

Setting the default setting to electronic presentment is a quicky way to get the ball rolling with the conversion from paper to electronic, but ensuring continued customer satisfaction once they’re there is essential to keep them enrolled in electronic delivery.

Here are our top 3 best practices for maintaining your highest eStatement adoption rates:

1. Email Documents- Just as print statements come straight to your customers' mailboxes, so should the electronic versions. Emailing documents, as opposed to accessing online only, offers the added benefits of providing customers immediate access to their documents, and provides additional security by eliminating the possibility of mail tampering or lost hard copies.
2. Consistent Design- Providing an exact PDF replica of the paper documents will allow customers to feel more comfortable turning off their paper version, as they know they'll be receiving a legitimate legal copy, easily accessed and printed if necessary.
3. Interactivity- Including interactive marketing messages and direct check view access are both capabilities that are enhanced through electronic presentment . Marketing messages that can be clicked for immediate access to offers, and transactions with links to exact images of checks are benefits that only customers who receive eStatements can take advantage of, and are compelling incentives for adoption.

Electronic adoption is  important to reducing costs in all areas of statement processing, both through printing and production. Make it easy to convert and utilize best practices and your business with quickly start to see the cost savings benefits.