We're settling back in after CS Week and preparing for a hot summer here in Arizona, where temperatures (and utility bills) are sure to soar. One thing that stood out at this year's event was the buzz around deregulation and its impact on the industry as a whole. In fact, I recently reviewed the results from Deloitte's fourth annual consumer survey on what customers want from their utility. In the face of deregulation and new market entrants causing disruption, it's becoming clear that preserving the customer relationship is increasingly important.
The report also offers more insight into what customers truly value as well as key findings such as:
- How customers continue seeking ways to reduce energy usage despite a recovering economy.
- Although only 3% surveyed have solar panels, 40% of them reported being "very" or "extremely interested in" purchasing them.
- About half of consumers (47%) are open to purchasing other services from their utility, such as Internet, cable TV, home security and home automation.
- Consumers, especially the Gen Y segment, are becoming more tech-savvy, looking for smart energy applications and better ways to interact with utilities and manage energy consumption.
So What's Next?
It's clear that deregulation, the economy and consumer access to online information are playing key roles in changing the dynamics of the energy industry. Although utilities are not famous for their customer service, increasing competition means rethinking your customer experience and your service offering strategies to compete over the long haul.
And as pricing pressures continue, so does the need for a smart plan for offering other value-added services that customers are clearly willing to consider buying from their utility provider.
Our team recently helped Cleco Power transform their online customer experience with a user-friendly self-service portal and mobile application. It is just the beginning in their process of improving service levels and using technology to connect with customers. Check out this short video on the project and download the case study from our website for more details.
Discover What's Possible
Isos Technology offers a useful Discovery Workshop that helps identify your organization's online priorities and uncover new opportunities for better serving your customers using advanced technologies and custom applications. If you have questions, don't hesitate to contact me if you would like more details about the Cleco project or to just connect about your technology plans.