UTILITIES' PROGRESS TOWARDS CUSTOMER CENTRICITY CUSTOMER CENTRICITY THE BEST BET FOR SUSTAINABLE COMPETITIVE ADVANTAGE CREATING A NEXT-GEN CUSTOMER EXPERIENCE HOW DO UTILITY COMPANIES ACHIEVE THIS INCREASED FOCUS ON THE CUSTOMER? CUSTOMER CENTRICITY INDEX IS HIGHER IN: TECHNOLOGY: KEY FOCUS AREA TO DRIVE CUSTOMER CENTRICITY WHY UTILITY COMPANIES NEED TO BE CUSTOMER CENTRIC? Average Rank Business Processes CURRENT CUSTOMER CENTRICITY INDEX FOR COMPANIES: 3.8 OUT OF 5 OF UTILITY CXOs BELIEVE THAT THE FOCUS ON THE CUSTOMER HAS INCREASED COMPARED TO 2012 REGULATED ENERGY NETWORKS REGULATED ENERGY NETWORKS EMPOWERED BUYERS DEMAND A NEW LEVEL OF CUSTOMER OBSESSION FOR WATER UTILITIES: 3.8 4.6 THE CUSTOMER CENTRICITY INDEX OF UTILITY COMPANIES IS SLATED TO INCREASE BY 0.8 POINTS CUSTOMER CENTRICITY IS CLEARLY FRONT OF MIND IN THE UTILITY INDUSTRY OFGEM AND OFWAT ARE CREATING A CUSTOMER CENTRIC ENVIRONMENT IN THE UTILITY INDUSTRY How much has the importance of customer centricity to your company changed over the past five years? 90% KEEPING CUSTOMERS AT THE CENTRE THROUGH: 100% 78% 4.1/5 CALL CENTER MANAGEMENT 3.9/5 FIELD SERVICES 80% 3.1 Customer segmentation 3.1 Customer self service 3.2 Social media integration 3.3 Sales 3.3 1% PENALTY BASED ON THEIR ALLOWED REVENUES Water Electricity Gas » INCREASED FOCUS ON MEASUREMENT OF CUSTOMER SATISFACTION PERVASIVE MOBILE TECHNOLOGY SERVICE INCENTIVE MECHANISM SMART METERS AND THE TOP 3 APPLICATIONS THAT NEED TO IMPROVE ARE: Despatch centre 3.4 Control centre 3.4 Customer comms Overall TECHNOLOGY AREAS: 53% 3.1 3.5 38% 4.0 39% Staff Training - Contact Centres Executive Sponsorship 5.3 16% What upcoming or on-going regulatory/market events will provide you with the biggest opportunities to bring change to customer centricity? Pervasive Mobile Technology Average Rank 2.0 Service Incentive Mechanism 2.2 Smart Meters 2.9 Fuel Poverty 3.0 Change of Political Landscape 3.3 Climate Change 3.9 Smart Grids 4.8 Green Deal 7.0 Event 2.8 Customer mobile services Field services UP TO 1% REWARD OR IMPROVEMENT: 69% THE TOP RANKING MARKET OPPORTUNITIES ARE ALSO LARGELY TECHNOLOGY BASED Confidentially, on a scale of 1 to 5, please score your company’s level of customer centricity in each of the following areas. New connections FOR TRANSMISSION COMPANIES: IMPROVEMENT IN BELIEF THAT THE LEVELS OF CENTRICITY TEND TO BE HIGHER IN THE ‘FRONT-LINE’ SERVICES IVR voice & web Integration » CUSTOMER-CENTRED INTERACTIONS TAILORED FOR EACH CUSTOMER BUSINESS PROCESS 2.3 2.8 23% Corporate Culture Customer loyalty mgt. COMPANIES THAT PERFORM BETTER ARE REWARDED WITH HIGHER PRICE LIMITS LACK OF TRUST CAN MEAN CUSTOMERS SPONTANEOUSLY SWITCH LOYALTIES 53% Information/Data 90% RISE OF THE EMPOWERED CONSUMER 69% Technology There are 2 major reasons why Utility Companies need to focus on the customer: RISE OF THE EMPOWERED CONSUMER Which of the following areas within your company are most in need of attention to improve customer centricity? Average Rank Customer Relationship Management 3.1 Application 3.5 3.6 Customer Self-Service Portals 3.2 Call Centre Technology 3.8 Field Operations 4.2 Data Management Analytics 4.3 Billing 5.3 Asset Planning Investments 6.1 New Connections 6.2 3.7 3.9 Call centre mgt. 4.1 Emergency mgt. 4.1 Average Score. 1 = Very Poor & 5 = Excellent Which of the following IT applications need to improve if your company is to become more customer centric? CUSTOMER RELATIONSHIP MANAGEMENT CUSTOMER SELF-SERVICE PORTALS CALL CENTER TECHNOLOGY Source: Centre Forward: Utilities' Progress on Customer Centricity in Utilities – A Wipro and Utility Week Report READ MORE