Speedpay traveled to Phoenix, Arizona last month for the biggest utility event of the year – CS Week 2019. The team spent three busy days meeting with industry peers and clients, demonstrating Speedpay’s capabilities at our booth and participating in panel discussions on the most top-of-mind issues in the industry.
Below, we share our top three learnings from this year’s show.
Meet Consumers Where They Are, On Multiple Channels
We never leave a conference without discussing consumer experience at length, and CS Week was no different. Specifically, conversation centered on meeting consumers where they are most comfortable – and doing so on multiple channels. People want more ways to make payments that fit into their busy lives, whether that’s on their smartphones, a utility’s website, or even by digital assistant. It’s our job as solutions providers to make that possible.
Additionally, when it comes to onboarding consumers to new technology, consumer education is key. Utilities and solutions providers agree that video can be an effective tool for helping consumers understand why adopting a solution or service is in their best interest and how it can make the bill pay process a little easier.
Electrify Your Payments Strategy with Mobile Wallets
Mobile wallet adoption is on the rise. In fact, according to recent Speedpay Pulse research, 1 in 4 consumers currently use mobile wallet payment methods, and nearly half (47.6%) of those who do use them daily or multiple times per week. That’s why it’s more important than ever for companies to shift their mobile mindsets and evolve their strategies to meet customers’ billing and payment preferences.
Speedpay teamed up with Peoples Natural Gas at CS Week to present a Sponsor Solution Workshop to attendees to demonstrate how they can electrify their payments strategy with mobile wallets. Through consumer data from the Speedpay® Pulse, utility providers learned how mobile wallets can enhance the customer experience, help increase paperless adoption, and increase the number of on-time payments that are made.
Leverage Consumer Data and Feedback
Consumer-specific data and feedback go a long way in improving the consumer’s payment journey and their experience using tools like IVR or Pay by Text. Several utility companies spoke to attendees about how they have improved consumer data accuracy with impressive results – cutting call center times in half. Another shared its experience obtaining and applying customer feedback to updating an existing IVR platform, the results of which led to improved consumer engagement. The lesson is clear: working with best-in-class solutions providers, utility companies should be sure identify consumer pain points and adopt the tools necessary to deliver a world-class experience in an evolving payments landscape.
After a busy day in panels, sessions, and playing our custom “Bullseye Bowling” game on the exhibitor floor, the Speedpay team took a trip to the ballpark to watch the Arizona Diamondbacks take on the Houston Astros!To learn more about Speedpay’s expertise in the utilities space, visit our website.