The KPMG Global Energy Institute is pleased to announce the release of a new white paper: Winning the race for the customer – Manage and align customer expectations and customer experience execution to help returns which can be downloaded here.
In our previous publication, The race for the customer: Winning in a dynamic marketplace, we discussed how the Power and Utilities (P&U) industry faces challenges from a growing number of competitors. In the following paper, we will discuss how utilities can provide individualized and enhanced services for residential consumers while still balancing service experience and expectations in a way that optimizes revenue.
Winning the race for the customer – Manage and align customer expectations and customer experience execution
The P&U industry is evolving to focus on customer understanding and service excellence. However, the question remains: Are utilities evolving fast enough to grow their customer offerings while ensuring sustainable returns?
Who wins the race for the utilities customer is far from certain. The industry itself is undergoing significant disruption from increased access to distributed and alternative energy supplies, a changing regulatory environment, and rising customer expectations driven by online experiences that involve customized experiences, fast and easy purchases, service tracking, remote security control, and other services.
Out of this disruption have come numerous business opportunities—a fact not overlooked by nonutility industry companies ranging from online retailers to telecoms and manufacturers. These new players have started to enter the market from multiple angles, creating a race to own the utility customer relationship and through that, control who has access in the future to multiple profit opportunities. Most of these companies bring a combination of strong brand permissions, customer relationship management skills, digital and social media technology expertise, and service and technology integration capabilities.
As a result, utilities are being forced to develop new customer-centric strategies that are designed to manage the experience and meet increased expectations for more reliability, better information, customization, and greater responsiveness in service delivery.
Read full article here.