Whilst doing some recent research on Utility customers. I came across some very revealing, but not overly surprising, facts on ‘what a customer cares about’.
Let’s face it energy is a pretty boring subject usually, however, with all the recent hype stirred by Ed Milliband’s very bold statement of freezing utility pricing which was then followed by the price increases from certain energy companies – it’s become the number 1 hot topic across the media.
Outside of this, the question is, what do utility customers actually care about? The research shows there are 5 main areas for suppliers to be aware of are;
Firstly, businesses want more from their utilities. Typically, experiences with utility suppliers are largely transactional – Energy Supplied – Bill Paid – Until eventually the contract terminates for any number of different reasons; usually a better deal has become available. This kind of experience is neutral at best and creates a unpredictable relationship.
Secondly, lower bills. Irrespective of the current cost of energy or average bill spend, businesses need to come within their budget. Energy costs have been a major cause for concern for many businesses over the years – and with the ever increasing costs it looks to be a continuous worry.
Thirdly, Information. Businesses look to their suppliers to be their source of information. Despite low satisfaction with their utility services, businesses still trust their utility supplier to provide them with a host of information and more importantly advice on energy savings.
Forth, Personalisation. Customers want to feel that their business is being looked after by their supplier. Information that is built around their usage or business need would be very well received. With the introduction of smart energy meters, which capture real time energy usage, personalisation should become standard for energy companies to drive consumption analysis for its customers.
Fifth, how does your company measure up? Every business wants to think that they are energy efficient. One way to measure this would be for the energy supplier to analyse this against similar size company premises. With this information to hand businesses will be able to reduce their consumption significantly to ‘Fall In’ or be ‘Lower’ than their equivalents.
These five areas are a valuable tool to help utility companies and their executives guide their business models to suit their customers.
I say these truths are not overly surprising as these services are standard at Energy Procurement. We provide free and impartial advice to all companies and as a customer you can be assured we will continuously monitor the market so you can concentrate on your own business.
Why not put our knowledge to the test and give us a call on 0845 337 38 38.
Written by Ellie Cowmeadow