Bills aren’t getting any easier to understand for the majority of UK customers. According to new research from Echo Managed Services, as a result they are still confusing customers and organisations are wasting an important customer touch point.
This is despite up to a third of people stating that clarity is the number one billing improvement businesses need to work on, and 24% saying they have struggled with bill complexity in the past.
Based on a nationally-representative sample of 1,000 UK adults, the research found that as many as 70% of consumers feel bills have stayed the same or actually become harder to understand, while only 3 in 10 feel they are getting simpler.
Struggling with billing jargon, consumers cited the most confusing terminology to be ‘tariff information label’, with 78% of those surveyed stating they didn’t understand what it meant. Other terms topping the list were ‘chargeable value’ (72%), and ‘tariff comparison rate’ (72%).
By not simplifying bills or clarifying terminology, businesses are failing to take full advantage of a valuable customer touch point – as the research unveiled that up to a quarter of people said a bill had helped them save money, while a further one in five said a bill had provided useful information about a new product or service.
Furthermore, previous research has found that unclear bills can lead to debt issues – with over a third (36%) of late or non-payments occurring as a result of billing issues such as inaccurate bills, bills customers couldn’t understand and bill shock.
Commenting on the findings, Nigel Baker, managing director at Echo Managed Services, said: “While it is disappointing that the majority of consumers feel that they are not seeing any improvement in the clarity of their bills, these findings should also be viewed as an opportunity for businesses. Our research found that those companies willing to understand and empathise with customers by simplifying bills, providing greater transparency, ensuring the lines of communication with customers remain open, and adding value, will be able to bolster loyalty and improve the company-customer relationship.
“Businesses need to act and adapt in order to improve the billing experiences of their customers, whilst of course keeping in mind that every customer is an individual, so will have different needs, preferences, and extents to which they’d prefer their bill simplified. Companies should not only look to provide more bill clarity, but also team this with useful online resources and a knowledgable customer contact team to ensure customers are fully supported to a degree which suits them.
“Through better and more transparent communication, companies will lessen the likelihood of both bill shock and protest debt, enhance the overall billing experience, and ultimately win the favour of their customers.”
For the full report and rankings please visit: https://www.echo-ms.com/knowledge-centre/research-resources/the-secrets-of-better-billing
Like our Facebook Page
How to Find an Eco-Friendly Termite Control Service Provider in Malaysia
Eco-Friendly Vegans Win Most Battles Not the War
3 Iconic Chicago Billboards Eco-Friendly Advertisers Can Learn from
EnviroSolar’s Abe Issa Discusses Success in Green Entrepreneurship
How Sports Could Be Impacted by Climate Change
What Eco-Friendly Patients Should Know about Online Therapy
6 Reasons Why Meal Delivery Services are Eco-Friendly
The Path for Retail’s Sustainable Future
4 Eco-Friendly Ways to Treat a Sinus Infection
4 Strategies for Eco-Friendly Real Estate Investors to Find Properties
How Managed Print Services Helps to Reduce Paper Waste
Why Scientists Are Concerned About ‘Forever Chemicals’ In Drinking Water
Meat Farming Is Only Getting Smarter, Easier & Eco-Friendlier
What is Eco-Friendly Homesteading and How Does it Affect Your Insurance?
Importance of Using a Water Purifier in an Area with High Pollution
Alternative Financing Ideas for Green Businesses that Shun Banks
Tencel Material Demand Shows Britain Is More Eco-Friendlier Than Ireland
How To Invest in Clean Energy Stocks in Only Five Easy Steps!
How To Secure Funding As An Eco-Entrepreneur?
4 Amazing Eco-Friendly Businesses Worth Starting in 2021
- Features8 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home
- Energy9 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features8 months ago
Essential Guidelines for Eco-friendly Moving into new Home
- Invest10 months ago
The Eco-Friendly Evolution of Bitcoin Over the Years