Five social media tips for utilities
Social media has matured to the point where utilities can leverage the tool as an effective and low-cost way to help achieve electronic billing (e-bill) adoption goals. The use of social media among consumers is pervasive, offering a new, low-cost and effective entry point for utilities to reach their customers. By understanding industry trends and adopting best practices, utilities can leverage social media to complement a comprehensive, integrated and effective e-bill marketing program that will increase visibility and engagement of electronic, or paperless, billing.
Utilities, e-billing and social media
A recent Social Media E-Bill Marketing Study by Fiserv audited 65 companies across five industries to understand social media trends among consumers and billers. While the prevalence of social media usage among both consumers and billers and the relatively low cost to initiate campaigns offers compelling opportunities for e-bill promotion, few billers are fully leveraging social media to promote it.
According to the Fiserv audit, only 35 percent of the billers promoted e-billing on social media and the majority of these (83 percent) are utility companies.
“Now is the time for utilities to learn how to best incorporate social media into their e-billing and payment marketing mix to help them spread the word about e-bills and increase the number of e-bill customers,” said Eric Leiserson, senior research analyst at Fiserv. “Since users of social media are most likely already paying their bills online, it is sensible to market the next step — transitioning from receiving paper bills to receiving bills online.”