How to Mitigate the Impact of the USPS
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Currently, 15% of the 14 billion pieces of mail the USPS handles monthly are billing-related. Changes in the USPS are adding significant costs to the delivery of bills and even impacting the time to get paid. The additional costs and likely delays in payments will force businesses to modify financial models. Billtrust has assembled tips to mitigate the impact of the USPS changes.
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How to Mitigate the Impact of the USPS
- 1. Mitigating the Impact of the USPS Mitch Rose VP Marketing and Billing Strategy Billtrust Improving Your Billing. Improving Your Business.
- 2. Means to the END – Getting Paid! It’s not about the bill going out…. It’s about the cash coming in Improving Your Billing. Improving Your Business.
- 3. US Postal Service In Dire Straits… Businesses must transform their billing processes now to address the changes that lie ahead: higher postage costs and slower mail times Improving Your Billing. Improving Your Business.
- 4. Proactive Options 1. Shrink the country 2. Aggressive move to eBilling 3. Super Batching 4. Be Postal Smart 5. Get more out of your bill - TransPromo Improving Your Billing. Improving Your Business.
- 5. 1. Shrink The Country 5 Improving Your Billing. Improving Your Business.
- 6. Mail Speed Optimize mail speed based on location of bill recipient Improving Your Billing. Improving Your Business.
- 7. 2. Aggressive Move to eBilling ►Boost e-Adoption ►Effective bill messaging ►Multiple communication options ►eBill tracking Improving Your Billing. Improving Your Business.
- 8. e-Adoption Defined Email Fax Paper & postage disappear Biller Direct Consolidated Improving Your Billing. Improving Your Business.
- 9. e-Adoption Messaging Reduce Paper Clutter Save Time Efficient AP Process Go Green Convenience - Online Promotional Offer Improving Your Billing. Improving Your Business.
- 10. Ways To Communicate Message On The Bill Bill Insert Special Letter Improving Your Billing. Improving Your Business.
- 11. Ways To Communicate Website Message On Hold Message Special Events Customer Service Reps Improving Your Billing. Improving Your Business.
- 12. eBilling Adoption Improving Your Billing. Improving Your Business.
- 13. eBilling Adoption Improving Your Billing. Improving Your Business.
- 14. eBilling Tracking Improving Your Billing. Improving Your Business.
- 15. 3. Super Batching Improving Your Billing. Improving Your Business.
- 16. Batching… …Combining different bills destined for the same billing address into 1 envelope to reduce postage & envelope costs Without Batching INVOICE INVOICE Cost Estimate ABC ELECTRIC ABC ELECTRIC ANYTOWN, USA ANYTOWN, USA 2 Invoices x $.50 Per Envelope $15.26 $15.26 $ 1.00 Total Charges With Batching INVOICE INVOICE Cost Estimate ABC ELECTRIC ABC ELECTRIC 1 Invoice ANYTOWN, USA ANYTOWN, USA x $.50 Per Envelope $ 0.50 First Bill Charge $15.26 $15.26 1 Additional Page x $.05 Per Page Fee $ 0.05 Extra Pages Charge $ 0.55 Total Charges Improving Your Billing. Improving Your Business.
- 17. Bullpenning… …Holding bills below a dollar threshold for a specified number of days to reduce postage & materials costs Monday Tuesday Wednesday Without Bullpenning INVOICE INVOICE INVOICE Cost Estimate ABC ELECTRIC ABC ELECTRIC ABC ELECTRIC ANYTOWN, USA ANYTOWN, USA ANYTOWN, USA 3 Invoices x $.50 Per Envelope $15.26 $125.47 $475.99 $ 1.50 Total Charges Monday Tuesday Wednesday With Bullpenning Cost Estimate INVOICE INVOICE INVOICE ABC ELECTRIC ABC ELECTRIC ABC ELECTRIC 1 Invoice ANYTOWN, USA ANYTOWN, USA ANYTOWN, USA x $.50 Per Envelope $ 0.50 First Bill Charge $15.26 $125.47 $475.99 1 2 Additional Pages x $.05 Per Page Fee < $250 < $250 $ 0.10 Extra Pages Charge $ 0.60 Total Charges Improving Your Billing. Improving Your Business.
- 18. Bullpenning Example Improving Your Billing. Improving Your Business.
- 19. 4. Be Postal Smart ►Multi Envelope ►Bill Design ►SmartTrak ►Sorting ►Address Management Improving Your Billing. Improving Your Business.
- 20. Postal Smart: The Right Envelope 1-5 pages 13-55 pages # 10 Flat 6-12 pages 6x9 6 x 9’s save 65 cents on each envelope and are delivered faster Improving Your Billing. Improving Your Business.
- 21. Postal Smart: Bill Design Improving Your Billing. Improving Your Business.
- 22. Postal Smart: Focus on Mail Integrity Permit #3 Billtrust Improving Your Billing. Improving Your Business.
- 23. Postal Smart: SmartTrak Improving Your Billing. Improving Your Business.
- 24. Postal Smart: Zip Code Plus 4 Improving Your Billing. Improving Your Business.
- 25. Postal Smart: Address Cleansing Improving Your Billing. Improving Your Business.
- 26. TransPromo Get More Out of Your Bill… Improving Your Billing. Improving Your Business.
- 27. The Case for Bill Marketing ►Bills are the most widely read customer documents that any enterprise produces ►95% percent of transactional documents are opened and read ►63% of customers prefer statements that include personalized, relevant offers *Source: InfoTrends 2010 Improving Your Billing. Improving Your Business.
- 28. Example: Double Digit Sales Increase Rockingham Electric “By taking a strategic approach to the messaging we place in our bills, we have been able to achieve double-digit sales increases on key products.” …Jim Pender, EVP and COO Improving Your Billing. Improving Your Business.
- 29. Tips for Bill Marketing Best Practices ►Personalize! • e.g. Zip Code, Branch, Delivery Method ►Clear, prominently displayed, call to action ►Use a theme • e.g. Holiday, Seasonal, New Product ►Attractive graphics • In color, if delivered electronically ►Rotate copy regularly Improving Your Billing. Improving Your Business.
- 30. Bill Messaging Options Dynamic Bill Message Pre-Printed Inserts Inline with Print Job Improving Your Billing. Improving Your Business.
- 31. Who is Billtrust? ►Billtrust is a leading Billing Service Provider ►Technology Based ►End to End Billing Solution ►800+ Customers ►99% Annual Customer Retention ►PCI Level 1 Certified, SSAE 16 Audited Improving Your Billing. Improving Your Business.
- 32. Questions Mitch Rose mrose@billtrust.com 609-235-0822 Improving Your Billing. Improving Your Business.