Water, Electricity, Gas, Renewables, Telecommunications
New legislation, utility consolidation, new entrants in the marketplace, educated customers, higher expectations, increasing energy demand and higher prices are just the tip of the iceberg when it comes to a challenging landscape.
Many utilities have operated under the assumption that a “captive” customer is a happy customer. Not so. In fact, unhappy customers tend to cost more to serve, they are loud in their dissatisfaction, they only want more and are loud about their expectations and are uncooperative in providing feedback that will assist organisations. In essence they are waiting for someone better to come along and in the meantime are happy to make life difficult for the incumbent retailer.
So many organisations are working out quickly that with competitors changing and challenging the current landscape, “captivity” will only last so long. And watch those customer churn when they are released.
Driving customer advocacy (even with “captive” customers) can lead to significant growth – it reduces the cost to serve and provides opportunities around innovation, additional products and services and helps retain those customers when new entrants c
Tomorrow’s energy consumer is at stake. New legislation, utility consolidation, new entrants in the marketplace, educated customers, higher expectations, increasing energy demand and higher prices are just the tip of the iceberg when it comes to a challenging landscape.
In the utilities industry in Australia, for example, the volume of complaints to the central complaints body (the Ombudsman) has risen dramatically despite no signiﬁcant change in customer numbers—doubling in ﬁve years, four times the rate of population growth.
So what is the answer to identifying value and growing the business? The answer lies in the customer relationship. However, experience indicates that utility companies are falling short of customer expectations.
Leading utility companies are selectively enriching the customer experience at critical points in the customer lifecycle – delivering a higher level of service at the moments customers care about most (moments of truth).
6peas works with those in the telecommunications, energy, water, and environmental sectors to assist organisations drive the long term value of their customers and drive organic growth. Advocacy – even in sectors where customers are “captive” will reduce the cost to serve, complaints, allow utilities to offer additional products and services and reduce the overall cost to serve and drive innovation and leadership. A customer centric focus allows utilities to build relevance, opportunity for growth and drives advocacy across their client bases – residential, business, government and partnerships.