A storm is brewing: KPMG Nunwood warns of changes facing customer experience in the UK energy sector
“Smart technologies are changing the landscape for the utilities sector, demanding a reaction to change customer experience.”
The UK energy sector could be facing a high energy storm as the balance of power between consumers and suppliers shifts, according to the latest whitepaper released by customer experience management (CEM) company, KPMG Nunwood.
The 2015 Industry Briefing Paper from KPMG Nunwood, A High Energy Storm: Energising Customer Experience in the Utilities Sector, explains how customers are becoming more empowered, what this means in terms of the customer experience and the possible implications for energy providers.
Within the paper, it explains how a range of informational, behavioural and structural issues are affecting consumer interaction with suppliers. The development of the digital economy and technologies is giving consumers a platform to make choices and a voice when it comes to their utilities provider, posing a threat to suppliers who do not invest in their customer experience strategies.
Utilities is ranked as the lowest performing industry when it comes to delivering customer experience excellence and when compared with the US, reported in KPMG Nunwood’s 2015 Learning from the USA’s Customer Experience Leaders, the US utilities sector outperformed the UK by 14%, predominantly due to their close customer relationships.
Chris Nutt, Business Development Director at KPMG Nunwood and author of the paper, commented: “The findings from the whitepaper provide useful insight into how the landscape is changing between the consumer and energy providers, emphasising just how important the customer experience is when it comes to retaining customers.”
With the development of the digital economy, consumers are empowered with knowledge when making their purchasing decisions and in order to adapt to this, the focus for companies should be on building long-term relationships and not short-term sales.
“The whitepaper explores the opportunities for businesses who are already engaging with customers and the potential threats to those who are resistant to change,” Chris Nutt added.
The full whitepaper can be downloaded from the KPMG Nunwood website here: http://www.nunwood.com/energising-customer-experience-in-the-utilities-sector/.