More and more utility companies, including those that operate in markets without customer choice, are waking up to the power of customer-centricity. Even regulated utilities with captive customers need to delight their customers to drive meaningful growth. That's because the primary source for growth is not in delivering undifferentiated electrons to captive customers, but in delivering innovative services that customers choose to opt in to (or out of).
Many utility companies take comfort in the fact that a majority of their customers are "satisfied." But unpacking the details behind this seemingly reassuring data is essential, and requires examining the extreme ends of their customer satisfaction curve, not the middle. Here are two topics every forward-thinking utility executive should know how to tackle:
Dissatisfied Customers: Which of our customers are extremely dissatisfied? And how can we change this?
Delighted Customers: Which of our customers are delighted with our services? How can we provide more valuable solutions to those customers encouraging word-of-mouth satisfaction in the marketplace?
The Risk of Dissatisfaction
Even if the dissatisfied customers are in the minority (perhaps the single digits), they represent a tremendous risk. How much risk? Just ask SunChips about the snafu over their biodegradable bags, or ask PG&E how a small but vocal minority completely changed the regulatory landscape for smart meters. Identifying dissatisfied customers and understanding what's driving their unhappiness is critical to minimizing risk from vocal minorities and avoiding the disappointment of more customers in the future.
The Return on Happy
Utilities should focus not only on their extremely dissatisfied customers, but also on their delighted customers. Every utility should intimately know their delighted customers. What is delighting them? How can you delight them with more valuable offerings? And how can you connect them with other customers and encourage them to become advocates and a valuable source of earned media?
Our experience shows that utility customers with "beyond the bill" experiences -- for example, interactions with energy efficiency programs -- are among those most likely to be satisfied and potentially even delighted; MidAmerican Energy [PDF] and Southern Company's [PDF] territory-wide smart meter deployment have earned these companies some of the highest customer satisfaction metrics in the industry.
I think if company understand
I think if company understand his responsibility it will make costumer always happy. Happy costumer create a road map of success full business. If your existing customer are happy then you have no need to look other way. Happy customer refer you all the possible places.
I couldn't agree more with
I couldn't agree more with this post. I think it's extremely important to follow up with customers. There's always something you can improve on and who better to ask than your customers. If they're not satisfied, there's something you can and need to fix. But hopefully they're satisfied, so ask what made the difference for them and figure out how you can make that even better.
Thanks Catherine for the
Thanks Catherine for the article! Converting customers to ebill offer companies including those without much competition a unique opportunity to connect with their customers more frequently as customers who pay online can be engaged easier than a bill insert. Being online can garner the immediate response to customer satisfaction and enrollment in ancillary services.
Tom Corbett, ebillingrewards.com
It always amazes me when
It always amazes me when companies don't try to keep customers happy. Business starts and ends with the customer, and when you treat them poorly they go somewhere else.
It is even worse with government and quasi government organizations (ie...utility companies). They think that because there is less competition (or no competition) that customer needs aren't important.