Outsourcing your transactional communications can have a powerful effect on your business and its bottom line, whether you opt for an EBPP solution or traditional print and mail. Here are three specific reasons to do it.
- Free up your employees’ time.
Billing can be a complex process. Using a single-source provider for all your billing and communication needs eliminates the internal day-to-day tasks that bog down employees. They can use their productivity and passion in different ways while we streamline this process.
- Benefit from the latest technologies and operational experience.
Digital, print and mail, mobile: Offering those channels isn’t enough; they must be optimized. At OSG, we use programs like MailTrek to monitor inbound and outbound mail, which improves the efficiency of your collection efforts (and ultimately saves you money). We offer dynamic messaging, which turns invoices into marketing tools and engages customers month to month.
Our solutions are also practical. With production facilities across the country, our distributive print process guarantees a quick turnaround time.
- Move into the future with us.
As technology continues to evolve, customers are going to expect an omni-channel experience—an unbroken stream of access to their information. Through new acquisitions, more robust printing processes, and additional digital solutions (i.e. OSG Letter Composer), we’ve positioned ourselves to move with customers as they engage with the world. Because this is ultimately about more than billing—it’s about communication.
It’s almost a new year. Let’s talk strategy.
As the end of 2017 races by and 2018 sharpens into focus, it’s a good time to reflect on what we’ve accomplished as a company this year. Each move propelled us toward a common goal: to build upon our transactional and customer communication solutions and to offer best-in-class service. Here’s how we did it.
- We enhanced our printing technology.
We added another Ricoh Pro VC60000 next-generation continuous feed inkjet platform to our production line. What does that mean? It means we’re an even better position to meet customer demand for high-quality, high-volume transactional documents. Fun fact: OSG was the first American company to implement the VC60000.
- We grew our family of companies.
In October, we acquired Microdynamics Group, a provider of integrated, multichannel transactional print and electronic solutions, headquartered in Naperville, IL. This acquisition not only expands our services nationally, but also strengthens our presence in the financial services market.
In December, we acquired Diamond Communications Solutions, a full-service provider of data-driven customer communications, headquartered in Carol Stream, IL. This positions OSG as a leader in the healthcare market, and propels us further in the financial services market.
- We introduced OSG’s CallVista Customer Contact Center.
To expand our omni-channel customer communications solutions, we officially launched our CallVista Customer Contact Center. This fully-staffed center offers full inbound and outbound solutions, comprehensive program management and reporting, and on-site QA and IT support. (Call us!)
- We added another signature solution to our digital communications offerings.
To put it simply, OSG Letter Composer streamlines the letter creation process, which makes communicating with customers much easier. It allows you to upload all your branding elements to one self-service program, so anyone in your company can create customer letters, regulatory notices, collection letters, and so on. No special software required.
- We made strides for even greater quality control in production.
To ensure we have consistency across facilities, Our Enterprise Quality Control Group is developing a standard systematic approach in monitoring each step of print production. This process will be essential as we continue to grow.
Checking the mail nowadays really means checking for what you’re going to keep and what you’re going to toss without opening. In that competitive atmosphere—fighting for a customer’s attention over Bed Bath & Beyond coupons and pre-approved credit cards—sending multiple mailings a month is overkill.
OSG’s Additional Messaging Page is designed to let you communicate more with less.
The AMP makes it easy to turn a transactional document you’re already sending into a multipurpose document. It’s a supplemental page that prints seamlessly alongside the invoice or statement. (In other words, they can’t just throw it away.) This also saves you money on printing, postage, and administration costs.
The specifics of the message are in your hands. It could be a welcome letter, a monthly promotion, or, yes, an incentive to try online billing. It can be single or double-sided, full-color, and targeted. It uses OSG Campaign Composer to segment your customer base so people aren’t receiving redundant or irrelevant messages.
The options are endless, but the pieces of paper won’t be.
Any marketing initiative has buzzwords, and sometimes those words can seem at best vague and at worst empty. Multi-channel and omni-channel are two common terms you’ll hear floating around in discussions on customer communications. To cut to the chase: There is a difference, and the difference is important.
Multi-channel communication refers to the use of different types of channels with your brand or product at the center of this communication. These channels include mail, email, websites, phone calls, social media—any means of connection between you and your customers. A multi-channel approach gives the customer a choice in how to reach your company or product. Each of these channels is distinct and (hopefully) strong, but they working toward the same end—you.
Omni-channel communication is about creating a fluid customer experience across these channels. It’s common now for a modern consumer to switch frequently between channels (Think of how often you are on your laptop and then look down at your phone.) An omni-channel approach aims to make that switch seem natural and consistent. In other words, the customer’s view and experience are central to the process, and data is used to make that experience integrated and remove the “feeling” of channels.
If multi-channel is more about availability, than omni-channel is more about consistency. While multi-channel centers your brand or product, omni-channel centers the customer.
Imagine this: Madeline Frasier, a longtime subscriber to your magazine, has just sent you a check. She’s a few days late with her payment, but it’s on its way. No one knows that, though, and because the account is still listed as outstanding in your database, a collection letter is sent to her house. Your company has now spent money to collect money that’s already in transit. If only there was a way to see that Madeline had mailed her check.
OSG MailTrekˢᴹ is the way.
This tracking application taps into USPS barcode technology to track your inbound and outbound mail. An Intelligent Mail barcode (IMb) is printed on each piece of outgoing mail, which gives the USPS the data it needs to get your mail delivered to the right address on time. You can also include this barcode on the return or remittance envelope to see the status of incoming payments in real-time. This, in turn, will help suppress collection letters to customers.
For some of our customers, we have been able to achieve suppression of 4 to 5 percent of their production volume, while others have achieved as high as 12 percent suppression.
With MailTrek, you’ll improve the efficiency of your collection efforts by reducing the number and frequency of your mailings, and you’ll also improve your customers’ experience. Who wants to get a letter when they’ve already paid? Your company saves money on another letter, and Madeline isn’t annoyed.
It’s all about the data when it comes to customer communication.
Data tells the story of your customers and outlines what information you should be sharing with them. This is particularly important regarding the marketing messages you include with bills and invoices. When contact is frequent, the messages must be timely and relevant.
Data also tells the story of what’s already worked in with your previous messaging. Why send a “Subscribe Today!” message to a customer who just signed up? Why push a product to a people already using it? Analyzing customer trends and history is crucial. You should also be able to make timely updates based on that information.
OSG Campaign Composer is a data-driven application that allows you to segment your customer base. It’s designed so you can filter specific data to send one-to-one marketing messages that make sense. It exists to complement your invoicing or billing packages, to enhance marketing capabilities, to and make communication specific and targeted.
Here’s how it works:
- Define the filters.
A filter is set for one or more conditions you apply to your data to identify which accounts will be targeted by a campaign.
- Create the campaign.
Build the message that will target those specific customers.
- Create the package.
The package selects a segment of your customer base to target. It also specifies which dynamic messages, envelope messages, and inserts that segment should receive.
Another crucial feature: this application is timely. You can update the messaging at any time, ridding invoices and bills of stale, tired content. You can also send an endless variety of messages and cross-sell and up-sell products more effectively.
It’s essential to be using your data in a way that makes sense and brings you the biggest return. Your customers aren’t all the same. Why not try something different with them? Read more here.
Effective communication is about more than a smartly worded subject line or a crackerjack social media strategy. It’s also about more than just talking. Relaying information to clients is the backbone of any successful business, whether it’s through an e-bill, a marketing campaign, or an envelope. Here are four ways to do that more effectively.
- Listen first.
Or if no one’s spoken for a while, ask a question. It’s amazing how long someone might deal with something being wrong before speaking up about it. Check in with the client. Check in with staff. You can’t fix anything before knowing it needs repair.
- Simplify a complex process.
When we create transactional documents for clients to send their customers, we’re focused on a.) making the client’s cash flow more streamlined, and b.) creating materials that are readable, engaging, and clear. We’ve talked before about the two questions a bill needs to answer right away. You can apply that principle to almost anything communications-related. What are the most essential things that need to be stated? What’s irrelevant? Break down an intricate process into bite-sized pieces of content.
- Focus on storytelling.
You hear this a lot now: “Tell your business’s story.” A story has many elements, but they need to be adding up to the bigger picture. Be consistent with your design aesthetic. Share relevant updates. Stay in touch. Tools like OSG’s Letter Composer make it easier to send information and improve customer service while keeping branding consistent.
- If necessary, change the conversation.
At OSG, we offer a breadth of communication solutions, because we recognize that there are nuances to every industry and lifecycles that happen within them. Whether it’s a Back to School campaign in the summer or a new billing statement format, we can find something that starts a new conversation with your customers and increases your revenue.