SourceLink, a premier multichannel marketing services provider of results-driven solutions, announced today the formal launch of its Transactional Promotions Suite℠ for customer bills, statements, invoices and notifications. SourceLink's multichannel transaction clients now fully benefit from the enhanced open, read and click-through rates of customer communications to segment, target and cross-sell next most likely products and services directly on a statement or bill.
The Transactional Promotions SuiteSM turns billing statements into a forum for an ongoing dialogue with customers and an opportunity to enhance marketers' relevancy and revenue. It helps answer the four questions that all marketers and customer experience executives need to know. How will I leverage this touch point to improve the customer's experience? What are the offers relevant to this customer now? How do I make response painless? What can I learn about my customer from this interaction? Many utilities, banks and financial institutions can now answer these questions and turn costly Customer Service Centers into Profit Centers, while enhancing customer experience and adding value to the communication.
SourceLink's own internal research and best practices reveal that the four keys to success are behavior-based data mining, demographic/psychographic enhancements, message relevancy and offer positioning. According to InfoTrends, more than 95 percent of transactional statements mailed to U.S. households are opened and read, compared to only 30 percent of direct mail from unfamiliar businesses. Transactional communications also draw more attention, with customers spending an average of two to three minutes reviewing each document. More and more of SourceLink's clients are leveraging the open and read rate of transactional communications to transform their Customer Service Centers into marketing-driven Profit Centers. Independent studies have revealed that customers actually welcome this type of messaging with more than 70 percent responding that they are interested in relevant offers reflecting prior purchases.
Moving away from a one-size-fits-all approach means meaningful, timely offers to an audience that is guaranteed to consider them and welcome the individualized attention from a company they patronize. “It all starts with the data and the client insights that enable truly meaningful multichannel conversations with customers,” says Judith Hemmel, SourceLink's Director, Customer Intelligence. “Once you open the door, by demonstrating an understanding of customer needs and interests, the value of the relationship is significantly enhanced.”
SourceLink's Transactional Promotions SuiteSM includes analyzing customer behavior and characteristics to determine the next most likely product to purchase, allowing marketers to provide relevant offers to the right customers at the right time. Through SMART Modeling® and the leveraging of GeoGrids, SourceLink's proprietary unit of statistical measurement, a relevant dialogue that drives additional revenue is created. Response mechanisms are designed to overcome inertia and facilitate a two-way exchange. Whether identifying customers most likely to opt-in for paperless billing or offering complementary products and services, SourceLink leverages the data to allow marketers to efficiently speak to their customers in a medium that has captured their attention each month.