What Customers Want From Credit Balance Refunds, Why It Matters, and How to Get There
Credit balance refunds are not just a bump in the road for utility companies; they’re an opportunity to transform a common customer service scenario into a competitive advantage. Our 2019 Credit Balance Refund Report gets to the bottom of what consumers expect from refunds — and what’s in it for you.
In our survey of US consumers, we found that over 48% preferred digital refunds to other methods. Upgrading to digital refunds is a chance for utility companies to cut costs, improve operational efficiencies, and expand customers’ options for how to be paid.
Beyond immediate cost savings for utility companies, smarter refunds drove beneficial customer behaviors, from positive social sharing to winback. In fact, 82% of customers who returned to a previous service provider said the credit balance refund experience was a factor.
To stay competitive in the era of consumer choice, utility companies need a refund process that does more, for less. This report serves as a roadmap to a refund that better serves you, your customers, and your bottom line.
Download your free copy to discover:
Customer expectations for the ideal credit balance refund
Consequences of positive and negative refund experiences
How upgrading your refund process could lead to winback
The cost-saving potential of digital refunds
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Copyright 2019 Industry Dive
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