Maximize customer outreach and prevent lost revenue during an economic crisis.

When times are tough, customer balances go up. With widespread layoffs and furloughs, increased expenses, and high levels of stress, it’s no surprise that more customers fall behind on payments during an economic crisis. They may be hoping for their circumstances to improve soon and direct limited resources to other necessities, such as groceries, child care, and/or mortgages.

Yet if their balances reach a pivotal threshold, it will be increasingly difficult for them to pay in full – or at all. Which will result in more hardship for them, and lost revenue for your company.

 

 

We call those pivotal thresholds Customer Balance Risk Zones, and knowing them is a game-changer for your customer engagement strategy. Find out why by checking out our Risk Zone Snapshots below, and by reading BlastPoint CEO & Co-Founder Alison Alvarez’s article about why Customer Balance Risk Zones are so important.

Balance amounts are one of the most important indicators of whether a customer will pay or default.

BlastPoint’s A.I. enabled technology can identify which balance risk zones are most significant for your customers’ payment behavior – and help you engage with customers in each zone most effectively. Let’s get started!

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Risk Zone Snapshots

The Green Zone

Knowing who’s in the Green Zone – customers who mainly pay on time and have average balances – means you can avoid sending them info about assistance programs and instead target them with messaging about new technology, green initiatives, and other programs that Yellow and Red Zone customers are too stressed to consider.

Read more about Green Zone customers.

The Yellow Zone

Knowing who’s in the Yellow Zone – customers who are paying late and whose balances are getting higher – means you can focus your marketing & customer care resources on outreach to this group before their balances pass the Red Zone threshold. Budget Billing, payment plans, and other programs designed to help customers get back on track are often the best fit for them.

Read more about Yellow Zone customers.

The Red Zone

Knowing who’s in the Red Zone – customers who have accrued such a high balance that their likelihood of paying at all is low – means you can target them with assistance program and emergency grant outreach and ensure they get the help they need before it’s too late.

Read more about Red Zone customers.

Our utility partner saw a 47% payment-in-full response to a single outreach campaign with Customer Balance Risk Zones!

BlastPoint enabled a Mid-Atlantic natural gas utility* to identify customers who had previously kept balances low, but were quickly entering the Yellow Zone due to the current crisis. After targeting these customers with a single outreach campaign, nearly half of the customers contacted by the company responded by paying in full!

*The company wishes to remain anonymous for privacy and regulatory purposes.