Five Best Practices to Boost e-Bill Adoption Using Social Media
Social media has matured to the point where billers can successfully utilize it as an effective and low-cost means to achieve e-bill adoption goals. With more than 80 percent of U.S. online households using social media and more than half of those households connecting to a business or service provider through social media, it is time for billers to use social media to increase e-bill adoption.
While almost all billers have a social media presence, most are not yet fully leveraging social media for e-bill promotion. A recent Fiserv Social Media E-bill Marketing Study shows only 35 percent of the billers in the study promote e-billing on social media, and the majority of these (83 percent) are utilities.
So how should billers use social media to effectively promote e-bills and increase e-bill adoption? Based on analysis of the research findings, Fiserv has defined five best practices to help billers increase visibility, engagement and adoption of e-bills.
Set E-bill Goals that Leverage Social Media Promotion
Social media e-bill promotion goals should align with overall e-bill adoption campaigns. Make sure e-bill promotion content on social media is part of an integrated e-bill adoption campaign and is also in line with the overall social media mix to maintain a consistent brand voice.
Choose Appropriate Platforms to Help Accomplish Goals
Billers need to choose appropriate social media platforms based on their goals and target audience. For most billers, prioritizing Facebook and Twitter will make the most sense, so that their social media e-bill strategy establishes a presence on both.
Develop Content Strategies Specific to the Social Media Platform
E-bill promotion content should stress the value propositions that customers care about, such as convenience, ability to receive reminders and alerts, and opportunities to enter sweepstakes. While key messages should be consistent, it is important to match them with the features of each platform. For instance, Facebook allows for richer content, while messages on Twitter need to be short and concise.
Measure Performance and Evaluate Results
Using social media listening tools, it is possible to gauge the impact of social media e-bill promotion through a variety of metrics, including reach, engagement, click-through rates and website traffic referrals. Billers can also track results by asking customers how they heard about e-bill during the e-bill activation process and adding social media as an option.
Keep Pace as Social Media Evolves
Social media is rapidly changing and constantly evolving. It is important for billers to stay on top of the latest advancements for each platform and determine how these changes affect e-bill promotional opportunities. For example, based on the rapid consumer adoption of the mobile channel, billers should create mobile-friendly content now.
To deliver a full and effective marketing and customer adoption experience, billers need to place social media e-bill marketing strategies into their corporate marketing goals. Using these five best practices, billers can increase visibility and engagement of e-bill through social media posts that will boost e-bill adoption, lead to lower costs, enhance customer satisfaction and improve relationships and retention.
For additional information on the Fiserv Social Media E-bill Marketing Study and insights into boosting e-bill adoption, please also check out our recent white paper.
1Consumer Trends Survey, Fiserv, 2012