Nowadays your clients expect you to react more rapidly, provide more services, more support and deliver accurate responses to their current needs. This extends not only to the content of your communication, but also the method of delivery due to the increase in contact channels.
The impact of digital on business, the economy, the consumer, the policy holder, the customer and the citizen is no longer visible. It has a by no means small influence on the methods of communication, purchasing and therefore payment: there is not only a multitude of data, transactions and terminals but also payment methods: cards and gift vouchers, loyalty points, discounts and rewards, wallets, etc. To stay performing, online and offline, traders must offer a wide spread and standardised choice of payment methods, so that each customer is happy when they want to make a purchase.
What’s more, if at the crucial time of the payment, a more or less painful, unavoidable moment for the purchaser, they are supported by personalised marketing campaigns (discount, cash back, cash front, targeted bonuses, etc.), the job is done and the perception of purchasing becomes a special interactive moment, influencing the relationship with the brand and customer loyalty. This is also valid for insurance and banking!
During a claim for example, the customer, in a state of emotional shock, will expect their file to be managed efficiently and expect swift compensation. Payment is part of acting on these commitments; it is a reflection of the respect and recognition of the importance of the customer. Just as with managing files, you need to ensure payment performance and offer a complementary service to ensure customer satisfaction, not forgetting in your approach the diversity of customer topologies. There are those who prefer to replace items in store and those who go for e-commerce.
By providing, to those who want it, an e-wallet as a compensation method, the insurer offers an innovative payment method, synonymous with simplified and quick processing for the insurer and the customer. What’s more, they will benefit from advantages offered by the partner trading sites. This is really a personal relationship that is close to the customer.
Outside of insurance payouts, business clubs, customer clubs, customer loyalty programmes, etc. are also involved with valuable transactions. This is for example the case with web portals allowing customers or policy holders of a brand to spend their balance of loyalty points. For the customer it’s about accessing an “extra” service and good deals negotiated in advance by the brand with trading sites. What’s more, if the payment page of the company club, customer or policy holder portal, offers a mixed payment via loyalty points plus a payment by bank card or gift voucher, the service will be even more appreciated by the customer. Let’s not forget that payment is a sure method of the customer recognising an actual and palpable commitment.
Of course, it is essential to make points of contact with customers and payment methods coherent in relation to each other, or even interconnected, therefore allowing each customer to feel recognised and create a close-knit virtual environment. The multiplication in sales channels (stores and internet) and payment methods allow you to respond to all the expectations of customer topologies. You must even be able to offer them a large choice of payment methods or reimbursement, be able to enrich this stage with marketing actions and allow mixed payments…
So, does the subject of new payment and compensation to make customers and policy holders loyal interest you?