The Utilities industry faces many pressures. Intense competition in the energy sector, the introduction of the Service Incentive Mechanism (SIM) for water companies and the rise of online price comparison sites have made customer focus a strategic priority for Utilities.
But in an industry where customer contact is often limited to monthly statements, how do you develop lifelong, profitable relationships?
Initiatives, such as the Green Deal, provide an opportunity for Utilities to engage with their customers and build customer trust in an industry where trust has declined (Edelman 2012)
How to achieve customer centricity:
- Maximise customer relationships
By optimising each customer interaction through the delivery of accurate and relevant service and product offers using multi-channel communications, you can improve your acquisition and retention rates.
- Customer communications
Being able to deliver the right message at the right time in the right way will set you aside from your competitors. Today's customer has access to more communication channels than ever before, so ensuring you know their preferred channel has never been more important. Enabling customer self service through intelligent e-billing can help to reduce costs and increase customer satisfaction.
- Data management
To achieve customer centricity, you need customer data. Many organisations have disparate data and are unable to achieve a single view of the customer. By consolidating, deduping and enriching the data, you can provide real business value.
- Customer insight
From data you have the ability to derive insight. From this you can predict customer needs, identify cross sell opportunities, launch new services and offers to the right audience and deliver an exceptional customer service.