Dramatically increase your revenue stream with OBPP.

33665503 - woman is shopping online with digital tablet , ecommerceOnline Bill Payment & Presentment (OBPP) is an easy and automated method to improve revenue stream (sometimes by 600 percent or more) on low recovery customers.

OBPP is increasingly being used as a core collection process by financial services companies, healthcare organizations, and collection agencies. As an authorized reseller of revExpress™, Bacompt can automate your payments and improve your processing efficiency all in one tidy, personalized package.

Within your statements or collection letters, we provide a hosted link to the customer’s own personalized website, pre-populated with account and payment information. Here the customer can make payment arrangements; pay by credit card, debit card, or check; and update personal information. Partial payments, as well as account-specific payments from the same bill, are also options. Once the payment is processed, the money is deposited directly into your account, and both you and the customer receive an email confirming the transaction.

Value-added features include:

  • Conditional logic: Control every option and payment parameter.
  • Branding control: Complete control over the page branding, logos, fonts, colors, and much more.
  • Instant funding: Immediate access to daily direct deposits.
  • Real-time analytics: Real-time insights into your revenue stream from one dashboard.
  • Airtight security: Both Bacompt and revExpress maintain the highest levels of PCI and HIPAA compliance.
  • Mobile friendly: Works on smartphones and tablets.

What’s more is that it’s easy for you. For more information on how we can help reduce your accounts receivable while increasing your cash flow, contact us now.

A or B? Put your statement promotions to the test.

vinatageAd223shoppedYou’re not sure which offer will resonate better with your customers. Or, you’re wondering if you can target your prospects more effectively. While often overlooked, A/B split testing can be a critical component of your statement or other direct-mail strategy by supplying valuable information about your message, format, audience, and promotions.

Case in point: a small credit union wanted an insert that featured a “skip a payment” offer. Their conundrum was whether to pay a few cents more per piece for color or go with black and white. They opted for a simple A/B split of color vs. black only that included promo codes for tracking. The results overwhelmingly supported the use of color as both an attention-getter and lead-generator. Unfortunately, many companies don’t take advantage of split testing due to the misplaced belief that it may cost more. In fact, it’s mere pennies when you consider the payoff of a more effective and targeted campaign based on hard data.

How it works.

A/B split testing essentially boils down to dividing up your mailing between variations of one element (in the above-mentioned case, full color vs. one color), thus creating two versions, an A version and a B version. But there are two cardinal rules of testing: test only one element at a time, and test regularly. You can test different list segments (by demographics or geographic location, for example), offers, formats (size and color), envelope snipes, etc. Just don’t try comparing more than one thing at a time; you’ll muddy the waters. And testing is not a one-time activity; it’s an ongoing process. Think of it as direct mail maintenance.

A word about the singular test element: you can have more than two options within an element. For instance, if you want to break down your mailing list into three segments, you’d have an A/B/C split. Three variations on a promotion? You get the idea.

Fast, simple, and cost effective.

Digital printing and data manipulation offer the greatest return on investment because of the personalization opportunities. Let’s say you have an audience spread out among various zip codes. Or, you want to test different headlines for effectiveness. Unlike traditional offset printing, which requires expensive film and plate changes per run, digital printing is programmed so that personalization happens “in-line,” and mailing lists can be segmented by specific data fields.

Remember that you can start small by dipping your toe in the water. You don’t have to commit to a huge run. Test a small quantity first; say, one or two thousand. Experiment with different messages and headlines. Dabble with your list.

In any event, Bacompt can advise you along the way. What the heck? Put us to the test.

A word about the image.

The image above was taken from a 1952 edition of The Study of Color, by Jerry Hudson de León and published by Art Instruction, Inc.

The body copy reads, “This lively ad is equally successful in calling attention to sportswear of high quality. The color scheme is most pleasing—red, red violet, green and orange yellow… In each ad, through the use of suggestive color, we are prepared to consider favorably the qualities of the advertised product.”

Some things never change.

Print isn’t dead. (Unless your mailing data isn’t fielded correctly.) #IPD17

UAA-Mail-734x4002015 study commissioned by the USPS Office of Inspector General found that “91 percent of customers chose to receive their bills by mail.” Even among Millennials, the digitally native generation, a whopping 89 percent opted for printed and mailed statements.

This is good news for a lot of printers. But those of us who make our bread and butter on mailed communications had better bolster not only the quality of our mailing data, but also the proper fielding of that data.

Reason number one: your printed impression may wind up in a dead pile of undeliverables. Number two: you may lose track of your clientele. And number three: you may be imposed with a monetary fine by the USPS.

That’s right, the Postal Service is cracking down on mailing performance with a grading system that intends to minimize the lost revenue caused by undeliverable mail and misdirected pallets.

One of the many tactics Bacompt has employed to meet these standards is setting our data lists to optimal National Change of Address (NCOA) captures. However, we also understand that the improper fielding (or formatting) of data can render NCOA useless. For instance, any mailpiece that displays an individual’s name in the address field will cause NCOA to fail. Mail never arrives at the intended recipient, the quality of your customer database is compromised, and you lose profits on wasted postage and unwanted fines.

Data quality and formatting is just the tip of the iceberg. For more information than you ever wanted to know about postal compliance, check out the USPS Guide to the Mailer Scorecard.

Or, we could help you figure it out. Contact us today.

#IPD17

 

USPS Gets PRC OK for a 2017 Price Rise.

The following portion was written by Heather Fletcher and originally published by Target Marketing on November 17, 2016.

USPS prices are going up in 2017. First Class mail goes from 47 to 49 cents on Jan. 22, with other products seeing varying price increases.

On Tuesday, the PRC approved all postage raises USPS requested, except for Special Services price adjustments. The PRC filing says the commission didn’t receive information about those requests in time.

“Barring any unforeseen issues,” reads the PRC filing, “the commission expects to issue the separate order well in advance of the expected January 22, 2017, implementation date.”

So market-dominant price increases are slated for First Class mail, Standard Mail, Periodicals and Package Services, as direct mailers… learned matter-of-factly on Wednesday.

first2

standard2

PRC listing of postage increases

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By fully integrating our systems with the USPS, Bacompt streamlines the mailing process, reduces postage, and eliminates wasted postage on returned mail. Contact us to discuss your postage savings strategy.

 

What you need to know about Seamless Acceptance. #IPD17

As the USPS develops more comprehensive procedures, Bacompt is aggressively moving toward Seamless Acceptance, which further automates the entry and verification of commercial mailings by leveraging electronic documentation, Intelligent Mail barcodes (IMbs), and information collected from handheld sampling devices and mail-processing equipment scans.

Benefits of Seamless Acceptance include:

  • Shortened mail delivery time, increasing your front-end production cycle
  • Electronic verifications, streamlining processes
  • Auto-finalization, giving you control of postage payment
  • Mailer Scorecard and associated reports, allowing greater feedback and identification of trends
  • Trend-based quality measurements, providing the ability to gauge quality over time rather than a single mailing

Currently, Bacompt is working with our contractual partner, Post Masters, to provide a “seamless parallel” process where both the mailer (client) and the USPS can view the results of automated verifications.

In addition, we have an onsite USPS clerk specifically assigned to us for the purpose of verifying and accepting all mailings. This enables the post office to take possession of mailings — ready for delivery — within our Indianapolis facility, bypassing the handling typically required by one or more postal facilities. This not only speeds mail through the system, but also further ensures the security of your information-sensitive content.

Contact us to discuss your postal delivery strategy.

#IPD17

 

The age-new debate of electronic vs. paper. #IPD16

It seems like the encouragement to go “paperless” is everywhere, from television ads to email signatures. Yet a 2015 study commissioned by the USPS Office of Inspector General found that “91 percent of customers chose to receive their bills by mail despite a clear preference to pay bills online.”

Boy, if that’s not a mixed message.

We understand the desire to save printing and mailing costs; however, switching from paper to electronic is not always as easy as it sounds. And the true cost, in terms of both conversion and attrition of slow-adopting customers, is often underestimated. That’s why you may be better served by employing a dual strategy of print and electronic.

To completely round out our portfolio of high-security document solutions, Bacompt has partnered with OMI to offer Statement2Web™ services. With Statement2Web, you can realize the benefits of electronic communications by increasing your opt-in rates using these strategies:

For current customers:

  • Raise awareness that you do indeed have an electronic option.
  • Make sure enrollment is easy, with one click preferred.
  • Nudge your customers who already use your other online services.
  • Train your staff to encourage paperless at every customer interaction.
  • Provide incentives (inexpensive giveaways) to opt in.

For new customers:

  • Set the expectation of a paperless standard.
  • Evaluate the practice of charging for paper statements in light of the risk involved.
  • Design new products that allow you to waive fees for going paperless.
  • And, as always, staff training and buy-in are key.

At the end of the day, you have to understand your customers’ demographics and psychographics. Some were born “digitally native.” Some may never switch to paperless. So don’t underestimate the power of print. By utilizing an integrated, single-source solution, you can be assured of Bacompt’s integrity and compliance — for both print and paperless high-security documents.

Contact us to discuss your electronic statement strategy.

#IPD16

 

Increase the value of your monthly statements. #IPD16

Anyone who sends monthly statements — including credit unions, credit cards, retail, and healthcare — can benefit from exploiting advertising opportunities printed right on the statement.

Transpromotional marketing can lower your monthly mailing costs, boost sales through upselling, and generate additional revenue from your business partners. Because transpromotional advertising is included on mailings you already send, there are no additional printing or postage costs. The best part — it’s micro-targeted to a readership who already knows and trusts you.

  • Generates additional revenue
  • Easy to implement
  • New marketing opportunities every month
  • Greater relevance and value for your audience

How transpromotional marketing works.

Consider your potential business partners. For example, credit unions make loans, so car dealerships, realtors, and home remodelers would be good marketing partners. Likewise, pharmacies and wellness centers would be an appropriate fit for hospitals and healthcare systems. Now what if you could offer these partners a highly targeted ad campaign, guaranteed to be seen, for an extremely low cost?

As a provider of monthly statements, Bacompt can exploit any geographic or demographic data and match it to targeted ads. Example: Recipient A sees an offer for a high-end luxury vehicle, while Recipient B sees an offer for an economy car — all based on what we already know about your audience.

Upsell and strengthen your own brand image.

Transpromotional marketing doesn’t always have to promote someone else’s services; it can boost your own marketing efforts. Upsell, cross-sell, or simply communicate an important corporate message.

The point is that highly personalized data can be used to target your message. Is it part of your business strategy to generate more depositors? We can target candidates based on their financial data. Want to encourage yearly mammograms and colonoscopies? We can direct patients to facilities and physicians located nearest to them.

And because these targeted messages appear on monthly invoices or statements — which by their nature are opened and read — you can expect a virtual 100 percent view rate.

Contact us to discuss your transpromotional marketing strategy.

#IPD16