The Creative Companies Blog

Billing Statement Blunders: Stay Off the “Most Hated” Lists

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Businesses may not like to admit it, but confusing or incorrect billing statements top the list of things that irritate customers. You may provide the best service or highest quality products, but when customers receive a bill they don’t understand, your phone will start ringing with complaints. In fact, Business Insider found that at the 19 Most Hated Companies in America, improper or confusing billing practices was a common cause of customers hating their utility company, bank or telecomm provider. 

The consequences of confusing paper statements or online invoices

Making paper or online invoices easier for customers to understand directly links to your cash flow and customer retention. Here are the top three responses customers make to billing blunders (and how to get proactive to avoid the consequences!): 

1. They stop paying. When a customer takes issue with a bill, they simply won’t pay it until the confusion or error is cleared up. Avoid cash flow problems by tapping into customer data you already own. You’re likely gathering a wealth of useful customer data, but are you using it to your advantage? The energy industry – regardless of the billing software they use – faces ongoing changes within their marketplace. As the market price of heating fuels fluctuates, utility billing becomes confusing for customers. Many energy companies offer fixed or budget billing plans, which can make invoices even more complex for customers who have chosen not to opt into those programs. The Creative Companies takes complicated customer data and streamlines it into easy-to-read statements.  We customize paperless billing or printed statements by organizing important customer data into a statement that’s easy for customers to understand. If they can navigate their bill – they’ll pay you faster and have greater confidence in your billing system. 
2. They sound off to Customer Service. Your Customer Service team may be skilled at handling unhappy customers, but that time costs your company money. As angry customers are calling about their incorrect or difficult to understand bill, you’re expending resources that could be used more productively. And based upon the answers your Customer Service team gives, disgruntled customers may create public relations problems for you via social media or word of mouth. 
3. They find a new provider. This is obviously the worst case scenario, but it happens all the time, especially if you’re operating in a competitive marketplace. When a customer receives an incorrect or confusing bill month after month, their loyalty beings to wane. Energy customers will often shop around online to find a cheaper price per gallon; healthcare clients will seek out referrals to other health providers; and consumers will seek vendors who sell the same product or service. 

It’s amazing to think that the nuances of a billing invoice could drive customers away, but it’s a reality every business must consider. Take proactive steps by creating high-value, easy-to-understand bills that keep your customers informed, happy and paying on-time. 

Contact Tom Rich or Mark Henry at The Creative Companies to learn more about our unique ability to transform your customer data into effective customer communications.