Symend 2023 consumer report reveals late billpayers need more empathy from service providers in times of financial uncertainty

Date: September 28, 2023Location: Calgary, Alberta

Symend released findings from its 2023 Consumer Report: Decoding Billpayer Behavior, highlighting how service providers should treat customers during financial hardship. The research emphasizes that demonstrating empathy, flexibility, and personalized support builds customer loyalty and trust.

Consumer Financial Stress

Nearly three-quarters (74%) of consumers report struggling with competing financial obligations. Half indicate their financial priorities shift frequently—up from 43% in 2022. Decision-making difficulties increased significantly, with 82% citing that uncertainty complicates quick financial choices, a 24% jump from the previous year.

Reasons for Payment Delays

38% can only afford partial payments
36% delay payments due to competing priorities
36% lack funds entirely

Engagement Barriers

71% of consumers feel overwhelmed and anxious receiving messages from providers—rising from 48% in 2022.

Consumer Expectations

79% expect enhanced support during financial uncertainty, specifically requesting:

Flexible payment information (59%)
Access to real people (49%)
Local financial assistance knowledge (48%)

Consequences of Negative Treatment

Poor treatment affects mental health for 70% of consumers, with significant behavioral consequences:

87% less likely to purchase additional services
85% more likely to avoid contact
80% more likely to ignore messages
78% considering switching providers
75% more likely to complain

Impact of Empathy

82% respond better to supportive communications versus threats. 69% prioritize paying bills offering flexible options.

"The old, tiring ways of bombarding customers with messages and notifications aren't working. Our research shows that if personalized support and empathy aren't part of the package, customers are ready to give their business to a different service provider." — Hanif Joshaghani, CEO

About Symend

Symend is a SaaS company that uses behavioral science and AI to help enterprises engage customers through personalized digital experiences. Founded in 2016 and headquartered in Calgary, Symend operates across North America and Latin America.